The mixed-use development could open as early as the spring of 2019. The property will include 160,000 square feet of retail, 80,000 square feet of loft office, 550 apartments and townhomes.

Of course, large mixed-use developments come with their fair share of challenges. Art Falcone, co-founder and managing principal of Encore, tells GlobeSt.com that's because mixed-use commercial real estate developments are still relatively new in the United States. Indeed, this model at this scale has only become prevalent in the past five to eight years.

“The biggest change in the actual composition of a mixed-use development would be on the retail side,” Falcone says, “big-box retailers aren't expanding like they used to, and our focus has shifted to specialty retailers, restaurants and entertainment—all things that we call 'Internet resilient.'”

ATLANTA—The former Leggett & Platt site has traded hands. The sale price: $29.75 million.

Cushman & Wakefield arranged the sale of the site. It sits at the corner of Memorial Drive and Bill Kennedy Way in Atlanta's Reynoldstown submarket.

Cushwake's Matt Hawkins, Pierce Owings and Ron Willingham represented the seller in the transaction. Fuqua Development acquired the 17-acre property.

“The transaction underscores the influence the BeltLine is having in determining where density should be added in Atlanta,” Owings, senior director at CushWake, tells GlobeSt.com. Fuqua Development intends to develop a $250 million mixed-use development anchored by Publix and an AMC Theatre.

The mixed-use development could open as early as the spring of 2019. The property will include 160,000 square feet of retail, 80,000 square feet of loft office, 550 apartments and townhomes.

Of course, large mixed-use developments come with their fair share of challenges. Art Falcone, co-founder and managing principal of Encore, tells GlobeSt.com that's because mixed-use commercial real estate developments are still relatively new in the United States. Indeed, this model at this scale has only become prevalent in the past five to eight years.

“The biggest change in the actual composition of a mixed-use development would be on the retail side,” Falcone says, “big-box retailers aren't expanding like they used to, and our focus has shifted to specialty retailers, restaurants and entertainment—all things that we call 'Internet resilient.'”