In the heart of Buckhead Village, The Shops Buckhead Atlanta represents 300,000 square feet of prime retail space, office buildings, and two luxury apartment towers. Painstakingly assembled over many years, stumbling through the Great Recession, and surviving more than one botched renaming, it appears a new chapter is about to begin. Jamestown purchased this important piece of the Buckhead Village for an undisclosed amount last week and has so far declined to comment.
With more than 50 luxury retailers such as Jimmy Choo, Dior, and Hermes, the development was intended to be a mecca for high end shopping in Buckhead. Foot traffic has been less than anticipated since the complex’s inception, and high rents on par with mega-retail outlets such as Lenox Square have raised questions about the viability of the Shops’ business model. Visitors to the Shops will have probably noticed a distinct lack of shoppers along the quiet, cobblestone roads winding through the property.
This is where Jamestown steps in. Founded in 1983, Jamestown is an investment and management company dedicated to creating income-producing real estate in America. Locals will be most familiar with Jamestown’s nearby projects like Westside Provisions District and Ponce City Market. Jamestown also developed the massive Chelsea Market in NYC which they sold to Google last year for $1 billion. These ventures which incorporate existing structures and embrace a communal, walkable atmosphere have been immensely successful. They boast flex space that’s meant for eating, shopping, and socializing and facilitate access to existing walking paths and the BeltLine.
Jamestown declined to comment on the purchase so it is difficult to predict just what changes are in store for the Shops, but we expect they will use their tenant relationships and depth of experience to implement major improvements. As someone who frequents and enjoys Jamestown’s other Atlanta venues, I can only hope that we will see some of their winning concepts implemented to bring new life to this important section of the Buckhead Village.
Possible Changes We May Soon See At The Shops Buckhead Atlanta
While the details are as yet unknown, we eagerly await the results of this purchase and the forthcoming Jamestown development. This feels like a positive next step as the Buckhead Village matures into a dense walkable area.