One of Atlanta's Hottest Restaurant Groups Signs at Avalon

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ATLANTA, May 20, 2013 (GLOBE NEWSWIRE) -- The first-ever Bocado Burger Bar – a spinoff from one of Atlanta's hottest restaurants Bocado — has signed at North American Properties' (NAP) Avalon project in Alpharetta, Ga. The lease is one of many recent developments creating an enormous momentum at the $600 million mixed-use project.

When Avalon opens in October 2014, it will be the Southeast's preeminent experiential development — a place where specialty retail, entertainment, restaurant, residential, office, hotel and public spaces come together to create a truly unique experience.

Other updates include that site preparation is underway; vertical construction will begin in September; two new office leases mean that more than half of the available loft office space is leased; Avalon will be home to Regal Cinemas first all-premium theatre in the U.S.; discussions are ongoing with retail and restaurant tenants such as Antico Pizza Napoletana, Bantam & Biddy, Free People and Janie & Jack; and more than 350 people have signed the waiting list for single-family homes.

"We have seen tremendous interest from local, national and international retailers," said Mark Toro, managing partner of North American Properties. "The addition of Bocado Burger Bar and Ford Fry's new Mexican concept to the lineup are examples of intown restaurateurs that are looking for the right opportunity in this part of town. And office leases demonstrate that office workers crave this kind of experience."

Here is a closer look at the milestones the NAP team has reached at Avalon in recent months:

  • Retail Leasing: Avalon is now more than 60 percent leased with another 20 percent in negotiations. In addition to Bocado Burger Bar, Avalon has signed tenants including Everything But Water, C. Wonder, L'Occitane, Destination Maternity, Gymboree, Regal Cinemas (first all premium seating theater in U.S.), Whole Foods, Anthropologie, fab'rik, Athleta, Arhaus, Orvis, Paper Source, Banana Republic, Luxury Nail Spa, Van Michael - Aveda Salon, DryBar, Mitchell Gold + Bob Williams, FlyWheel, lululemon athletica, Cru Food and Wine, Marlow's Tavern, Ted's Montana Grill, Pinkberry, Rocket Farm Restaurants (Ford Fry Mexican concept) and Kona Grill.

The leasing team is in discussions with Janie & Jack, Tommy Bahama, Free People, Bantam & Biddy, Vineyard Vines, Antico Pizza Napoletana, Tuk Tuk and J. Alexander's.

  • Office Leasing: More than 50 percent of the office-over-retail has been leased. New tenants include Wakefield Beasley and Associates and Integrated Care Management.
  • Residential: Town urbanist Lew Oliver, builder Monte Hewett Homes and Atlanta Fine Homes Sotheby's International have teamed up to design, build and sell the single family homes at Avalon. The team has gathered a waiting list of 350 perspective homebuyers for the 101 homes to be built. Initial concepts for the homes are available by contacting Atlanta Fine Homes Sotheby's International.
  • Hotel: NAP is advancing discussions with hotel groups, including Marriott, Westin and Hyatt for a conference center hotel. In addition, NAP is in discussions with a number of other concepts, including Hotel Indigo and The Southern Living Hotel Group for a boutique hotel at Avalon.

About Avalon:

Avalon is a new experience in the timeless art of living well. In the heart of Alpharetta, this sustainably-designed, 86-acre development with more than 500,000 square feet of retail, a 12-screen theater, four-star boutique hotel, Class A office, single-family residences and luxury rental homes infuses resort-level hospitality throughout a walkable, seamlessly connected community of shopping, dining, entertainment, living, and working. It's more than just another place to go, it's a place to be—a hub of local art and activity that delivers the luxury of the modern South. You can find more updates on Avalon at its website, Facebook page or Twitter profile.

CONTACT: Elizabeth Hagin The Wilbert Group 404-965-5023 (O) 678-642-4301 (C)

Source:North American Properties