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Group Revives Downtown Retail Site

ATLANTA-Owners of 180 Peachtree plan to turn a former Macy's into multi-tenant space.

By Carl Cronan | Updated on July 16, 2008

ATLANTA-A local investment group has completed its purchase of the lower three floors in the 180 Peachtree Street building for a planned multi-tenant retail development serving the city’s central business district. Longtime residents recognize the 185,000-sf space as the site of Macy’s and Davison’s department stores.

As previously reported by GlobeSt.com on June 23, Davison’s Downtown LLC plans major renovations to the entire 535,000-sf building, which includes five upper floors of office space. The partnership of local investors and business leaders plans to invest a reported total $30 million into buying and renovating the 1920s-era structure, with previous owner Peachtree Carnegie LLC retaining the office component.

Davison’s Downtown, dba 180 Peachtree Retail Group LLC, intends to convert the long-vacant retail space into an indoor shopping complex serving Downtown Atlanta’s growing office, residential, convention and tourist populations. Cushman & Wakefield has been hired to handle leasing and marketing of the retail space, which will accommodate between 20 and 30 merchants and restaurants.

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