Friday, December 30, 2011

The Container Store Can No Longer Contain Itself at Peachtree & Piedmont

The Container Store will relocate late in the fourth quarter of next year to the former Borders within the Buckhead Triangle shopping center.  I'm told the store will be bigger than their current location at Peachtree and Piedmont but that they will not occupy the entire Borders space.  Borders' Buckhead location closed this past May ahead of the liquidation of all stores a short time later.  I'm told Total Wine
may open in The Container Store's old space once they move but that has not been confirmed. 

Adjacent to the Borders space, Pinkberry, a frozen yogurt shop, replaced what had been a Marble Slab Creamery.  They will surely welcome a new anchor tenant.  Just below the Borders space, on the lower level of the shopping center, a former Circuit City space remains available, left vacant when the bankrupt electronics retailer shuttered all of their stores in early 2009.

Selig Enterprises owns both the current Container Store shopping center as well as the one where they will now move.  Similarly, Selig owns the property where the Aveda Institute was previously located on Piedmont Road and also the Brookwood shopping center in south Buckhead where they recently relocated to a former Borders space.

The Container Store has one other area location near Perimeter Mall in Perimeter Station.  One of its co-tenants  there is a Restoration Hardware, which closed its location in Lenox Square earlier this year.  Ahead of their closure, I was told they planned to eventually close the Perimeter location and open a flagship store of sorts in Buckhead, but not in either Lenox or Phipps.  The Shops Around Lenox was at one time discussed as a possible location but with Crate & Barrel relocating there, not enough room remains for another junior anchor like Restoration.

Though not ideal, one possibility for Restoration Hardware is the now vacant Filene's Basement at Lenox Marketplace, where Target, Dicks and Publix highlight a list of existing anchors.  Another idea that was mentioned last year, was for Restoration Hardware to open a freestanding location on Piedmont Road on the site of the former Chrysler dealership.  The longest shot would be for them to be for them to open at Buckhead Atlanta, something I doubt will happen.    If all goes well, perhaps by this time next year, Atlanta will have sparkling new Crate & Barrel , The Container Store and Restoration Hardware locations!

Do you like the idea of The Container Store moving to Buckhead Triangle?  Where do you think  Restoration Hardware Hardware will open?  Do you have any ideas for what should open in the former Circuit City?  Please share your thoughts in the comment section below.

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28 comments:

Skreet said...

I think that this move is smart. It used to not be so hard to get to the Container Store but since all the Peachtree renovations, it can be difficult to get in and out of their current location. The new spot has a light (I think) and multiple points of entry and exit. Yay.

Dana said...

I'd like to know more about why you don't think Restoration Hardware would take the Buckhead Triangle space vacated by Circuit City. At minimum the company could play Selig against whoever owns the Filene Basement property.

Obviously visibility on Peachtree would be one reason to go with the latter space, but what are the other reasons?

Midtowner said...

Restoration Hardware has been opening their new Design Gallery concept in design districts so far, not in malls which would point to a location in West Midtown near White Provisions or possibly Miami Circle or ADAC in Buckhead. The spaces are in the 25,000 sq ft range so this will be huge. Yay for a larger Container Store!

Atlantan99 said...

Hi Dana,

The main reason I see is the visibility. The Filene's space (owned by Edens & Avant) offers a larger, more prominent space that provides the possibility of two levels.

Thanks for reading and for the comment!

Anonymous said...

A Loehmann's would be awesome in the old Filene Basement spot... but I'm not sure if they are expanding.

Personally, if Restoration Hardware was smart, I think waiting to open in Buckhead Atlanta would make the most sense... but that is just me.

Also, I really wish they would demolish the shopping center on the corner of Peachtree/Piedmont and build something more urban (high-rise with street level retail) but unfortunately the economy still sucks.

Anonymous said...

How about a flagship H&M in the old Filene's spot???

And Restoration should consider Buckhead Atlanta... seems like the perfect fit to me??

Tres said...

I can definitely see Restoration going to West Midtown or the old Chrysler dealership. I also imagine H&M going to what will be the old Crate & Barrel at Lenox. I personally think that the old Filene's should become a Saks Off 5th (similar to how Nordstrom opens Rack stores in some vicinity of a full line store). As for that old Circuit City, I actually feel that's better suited for a Total Wine, IMO. Maybe they could finally bring Dean & DeLuca to the area at the old Container Store. Wishful thinking I guess...

Anonymous said...

I will definitely shop at the Container Store when they move to the old Borders spot. So much easier to get into and out of that shopping center. I like Restoration Hardware where it is in the Perimeter area. I never shopped at Filene's not sure how Restoration Hardware would do there. I think that is an odd shopping center. I go to Target sometimes but not often.

Anonymous said...

These are great suggestions for tenants. I can actually see all of the ideas working.

I'm glad the comments didn't turn negative.

Atlantan99 said...

@ Anon RE : Loehmann's. I doubt Loehmann's will take the old Filene's space as for one its too big and two, the Briarcliff location is fairly close when you think about it. Additionally, Loehmann's as a company filed for Chapter 11 bankruptcy just last fall and only emerged this past February and I don't think they have been adding many... if any new stores.

Restoration Hardware would be wise to open in a freestanding location or maybe even explore the westside. I don't know that their current plans include opening in projects like Buckhead Atlanta where parking may be an issue. Given the troubles CB2 is experiencing in midtown, I'd hope they wise up before making a similar mistake in Buckhead.

Thanks for the comments and for reading the blog.

Atlantan99 said...

@Anon Re: H&M,

I highly doubt H&M will take on that space as its quite large and also is in a shopping center, rather than a mall. H&M is doing OK but not as well as expected at Atlantic Station so I doubt they would take on another center, especially one with even less foot traffic than A.S.

As far as Restoration Hardware goes, I feel Buckhead Atlanta is the wrong move for them.

Thanks for the comments and for reading the blog!

Atlantan99 said...

Hey Tres,

I agree with your thoughts on Restoration in the old Chrysler dealership or on the westside. Both of these options make more sense than Buckhead Atlanta. As far as H&M going into the old Crate & Barrel at Lenox, this is unlikely given progress that has been made to fill the space thus far with another retailer. (post upcoming)

I'm also with you on a Saks of 5th in the old Filene's. It does not serve an identical consumer but similar and is well situated between Lenox and Phipps. As I mentioned in an earlier post, Saks, Blooomingdales, Neiman's and Nordstrom all have stores in a cluster in a Paramus, New Jersey shopping center and are not in an "outlet center" per se. It seems to be a thing of the past to only find outlet stores in "at the outlets."

As I've been informed the Total Wine deal may have fallen apart at Peachtree & Piedmont, the Circuit City space does make a lot of sense as a back up. Total Wine took over the former CompUSA in Sandy Springs so this would seem to be similar space to recreate.

I too am hopeful for a Dean & Deluca opening but stopped holding my breath long ago.

Thanks as always for your thoughts and for reading the blog!

Anonymous said...

I'm sorry but H&M is always CROWDED in Atlantic Station... sometimes too crowded and usually there are always lines at the registers. AS has picked up a lot more foot traffic lately from people actually buying stuff. How can you honestly say H&M in AS is not doing well? What are you smoking?

Anonymous said...

Buckhead Atlanta is going to have plenty of spaces in parking decks... not sure why it would be an issue?? Unless people here are too stupid to figure out how to use a parking deck, which would not surprise me.

CB2 is most likely not doing well in Midtown because it is the ONLY retail store over there. If you want more people shopping, you need more stores... the demand is there but most people are not going to walk or drive/park all the way over there for 1 store... retail does better in clusters. Unfortunately, it's a double-edged sword... 1 store is not doing well on the Midtown Mile because it is the only store, so more retail won't open... but to increase foot traffic/sales they need more retail stores.

Atlantan99 said...

@Anon,

Just to be clear, I'm not saying H&M is not doing well, just not as well as H&M hoped it would be doing.

Thanks for the comment and for reading the blog!

Anonymous said...

I could see Saks Off Fifth outlet in the old Filene's space... or what about the Neiman Marcus Last Call Studio (space too big for those)???

I also have a hard time believing H&M is not doing as well as expected... it's always crowded every time I go.

Seems like Restoration would probably want to stay in Buckhead, no? Not sure where they would go... maybe the old Chrysler spot... what about the old ESPN Zone across from Buckhead Atlanta? How large is that building? Could it be retro-fitted for a store?

Atlantan99 said...

@Anon,

I think the Chrysler spot makes the most sense for RH. It's a great parcel, with plenty of parking and is not too far from other retail. The ESPN Zone space is being worked on as we speak but I'm not sure if it's for a new tenant or what.

Thanks for the comments and for reading the blog!

Anonymous said...

Just how bad is CB2 doing? DeathWatch bad?

Atlantan99 said...

Hi Anon,

I'll be honest, I'm not as familiar with their lease and situation as I am with most Buckhead property but I doubt it will close anytime soon. Selig Enterprises and Daniel Corp have far too much riding on the success of 1010 and the added appeal that comes with having key retailers like CB2, to see them close.

This is of course my educated opinion and for all I know they will close next month!

Thanks for reading and for the comments!

Anonymous said...

Just bummed out about this entire situation. I went to this Borders religiously. They had a great store here. I loved just getting out of the house and hanging out at Borders, whether reading magazines, researching a trip, or looking at new books. Now I have no reason to come here. I was hoping this spot would become a Books a Million. They have virtually no presence in Atlanta. I don't know why they're not opening more stores locally. We need more bookstores. Otherwise, the dumbing down of America continues.

Atlantan99 said...

Hey Anon,

Your behavior at the store is part of the reason stores like Borders are closing. You mention "reading magazines, researching a trip, or looking at new books." I heard no mention of an actual purchase! Similar to Best Buy's troubles, consumers will browse the bricks & mortar stores first, then make actual purchases online from etailers like Amazon.com. Books A Million has a location at Discover Mills in Duluth, I think that will have to do for now as I don't see them expanding anytime soon.

Thanks for reading the blog and for the comments!

Anonymous said...

This is fantastic news about the Containter Store, and I think you are right that Total Wine would be a great addition in the old Circut City space. There's plenty of parking and much easier access than at the Peachtree/Piedmont intersection. I hope it works out!

@Tres, I, too, am holding my breath for Dean & Deluca in Buckhead. Any indication as to why they are not interested in opening here, when they seem to do so well in Charlotte?

Anonymous said...

I can see Dean & Deluca doing well in Buckhead, Midtown and Sandy Springs! They are really stupid for not entering this market.

Anonymous said...

CB2 is remaining for the time being. They are running a profitable location by managing expenses very well even though sales are not as anticipated. The Crate & Barrel store in Alpharetta will most likely be closing this year as the lease there is up in the fall and Atlanta can no longer support two locations. As far as the current Container Store location goes, their accessibility is dismal and thus one of the most likely reasons for the move.

Tres said...

I have no idea. The fact that D&D is in Charlotte and not in Atlanta has always been beyond me. I mean, nothing against Charlotte, but come on.

Great, now I'm craving some of their toffee...

TheJohnP said...

To your point about Borders & Best Buy, BB had prided themselves on driving the Atlanta CD chain out of business by having people find out their music needs at ACD and then buying it much cheaper at Best Buy.

So they can reap what they sow, and enjoy the karma.

Anonymous said...

The "new" Container Store in Buckhead Triangle will be very, very nice. There are many reasons for their move... poor ingress/egress, poor parking and it's just not big enough for them anymore. All the new Container Stores around the country are much more modern, fresh looking and 10k sq ft larger than the current Buckhead location.

And yes, the rumor is a liquor store in the old spot. Interesting.

Anonymous said...

I would not be surprised to see a flagship-esque L.L.Bean retail store open in Atlanta soon. It would be the first into the South for them but would be highly successful. Freestanding would work for them or an anchor tenant of a med-lag Mall.

Much more mainstream than Orvis.

And yes, that space where the Chrysler dealer was will be intersting to watch ... nice size and great location. I believe it goes all the way back to Maple.