Wednesday, May 10, 2023

[UPDATE] Buckhead Village Sees Surprising Sales Surge, Robust Leasing Interest

The owners of Buckhead Village District earlier this week released several updates and statistics related to the property's recent performance and recent and upcoming additions.  Following Jamestown's acquisition of the beleaguered property in 2019, the company hosted a town hall-style discussion during which the community gave feedback on their wishes for the project.  

Community members reportedly expressed a desire for a "more dynamic neighborhood, focusing on smaller fashion and lifestyle brands, and innovative food and beverage concepts integrated with luxury brands."   

Jamestown, with U.S. headquarters at Ponce City Market, an asset it owns along with New York's Chelsea Market, San Francisco's Ghirardelli Square and others, took the community's feedback to its leasing team, which has executed a dramatic revamp of the project.  

In addition to new restaurants, retailers, and service providers, the project added in 2020 "The Veranda," a space at the corner of Bolling Way and Buckhead Avenue that offers seating and a Brash coffee cart in an enclosed, but not indoor, environment.  An outpost of Fetch Park, a dog park and bar, also came to the center in early 2022 utilizing a parcel that was previously a parking lot. 

According to the release, Buckhead Village has in the past year signed "over 12" new leases and 8 renewals, totaling more than 47,000 square feet.     

"Property-wide, same store sales are up 33.1% vs. 2019, not yet including newly opened tenants like rag & bone, Jenni Kayne, Frances Valentine, and Sarah Flint."  

The release went on to say, "The property’s luxury fashion retailers’ gross sales in 2022 exceeded 2019 volumes by 62.6% while "contemporary fashion" [retailers] saw 2022 gross sales exceeded 2021 numbers by 21.5%."  

"Food and beverage tenants saw their highest sales ever in 2022, with 2022 sales increasing 8.7% over 2021 and 7.6% over 2019."     

[Buckhead Village did not disclose any actual sales, only increases over prior years, so it's unclear just how impressive the numbers really are.]  

Buckhead Village has in recent months welcomed a number of new to market restaurants, retailers and service providers including:

Le Labo, which offers a collection of fine fragrances and candles as well as sensorial formulas for body, hair, face and a grooming line.  

Wolford, an Austrian manufacturer of premium bodywear, legwear, athleisure, and lingerie.   [Wolford previously had a location in Lenox Square that closed and was replaced years later with an outpost at Phipps Plaza, which also later closed.] 

FACED The Facial Studio, "An elevated facial studio offering high-quality, custom facials in a chic and relaxing environment..."  The Atlanta-based business also has locations in Morningside and West Midtown and will later thus year open a location at the reimagined Avenue East Cobb.  

Frances Valentine, "A modern American lifestyle brand featuring apparel, handbags, shoes and jewelry."  The company was founded in 2016 by current CEO and Co-Founder Elyce Arons alongside her close friends the late Kate Spade and her husband Andy.  

The Daily Pilates, "A chic Pilates and cardio fusion destination offering a variety of customized workouts blending fitness with contemporary Pilates and dynamic strength training."   The locally owned fitness studio's original location is in Inman Park, but the company is looking to grow via franchising.  

Yeppa & Co., A traditional Italian restaurant with an emphasis on fare from Rimini and the Emilia-Romagna region.  The restaurant is owned by Pietro Gianni and Stephen Peterson, co-owners of Storico Fresco, Forza Storico and Storico Vino (also in Buckhead Village).

rag & bone, a New York-based retailer offering a full range of men’s and women’s ready to wear, denim, accessories and footwear collections.

Gallery Anderson Smith, a gallery from Atlanta-based self-taught Anderson Smith with a knack for abstract expression.  

The property will soon welcome:    

Carmel, A new restaurant opening May 16 from Tal Baum of Bellina Alimentari, Atrium, Aziza, Falafel Nation, and Rina.  (All but Rina are located in Jamestown properties.)  Carmel is "inspired by the shores of California and the Yucatan Peninsula as well as Tal’s upbringing on the Mediterranean coast."  

Brush Sushi, a new outpost from the team behind Decatur’s Brush Sushi Izakaya, which closed this past fall to "move" to Buckhead.  The restaurant "will feature shareable dishes grilled using Binchotan charcoal and techniques focused on seasonal and detailed preparation of aging and curing of the fish."   

Brown & Co Jewelers+Rolex, the locally owned jewelry store is relocating to Buckhead Village from its longtime home about a mile away where it occupied a freestanding building along Peachtree Road near Piedmont Road. The new store will offer fashion jewelry from world-renowned designers, diamond engagement rings, estate jewelry, high-end timepieces, bespoke custom creations, and an exclusive Rolex Boutique showcasing the brand's latest design features.   

Planta Queen, "An innovative plant-based restaurant inspired by all parts of the world."  A sibling restaurant Planta is slated to open later this summer at Krog Street Market where it will replace the short-lived Watchman's Seafood & Spirits.  

Nail Muse, a new nail salon offering services including manicures, pedicures, gel, SNS, waxing, eyelashes, specialty nail art and more.     

In the months to come, several luxury retailers are slated to exit Buckhead Village in favor of news spots in Phipps Plaza, including:  Hermes, Akris, Jimmy Choo, Brunello Cucinelli and Dior, among others.  

This past fall Simon Property Group (NYSE: SPG) owner of Phipps Plaza and Lenox Square among other malls, closed on its "strategic partnership" with Jamestown, owner of both Ponce City Market and Buckhead Village, among other properties.  Simon acquired a 50 percent stake in Jamestown but financial details of the transaction were not disclosed.  As of May 9, Simon had a market cap of more than $36.5B.  

Following this transaction, Lenox Square/Phipps Plaza and Buckhead Village, once fierce rivals, are in a way now siblings, or stepsiblings, but still children of daddy SIMON.  There will no doubt still be rivalry, but for the first time the three properties share an owner and will likely cooperate in ways they had not previously.  

Are you pleased by the changes at Buckhead Village?  What other tenants would you like to see added to Buckhead Village?  Do you feel safer shopping at Buckhead Village than at Lenox Square/Phipps Plaza?

Please share your thoughts below. 


Anonymous said...

Nothing there to interest me, except that I'll have to go there to have my watch serviced. Not looking forward to that.

Anonymous said...

Sure they did lol. Buckhead is dead thanks to lax zoning and out of control crime. Even people out of state know to avoid it now. Great job City of Atlanta and APD!

Anonymous said...

That’s hilarious. It’s my neighborhood and it’s busier and thriving more than ever. The reduction in crime the past two years is evident due to an increased police presence. Statistics prove this. Commentary from individuals who do not live here, without key performance indicators are useless.

Anonymous said...

I will go ahead and bookmark this post for when you report on everything closing in 18-36 months.

John Stoj said...

This is all great to see. I’ve always loved that development so much more than the enclosed malls.

Buckhead is a destination shopping & eating area. Thanks to the mayor & APD for making it a place I want to visit often.

Anonymous said...

Buckhead is still plagued with ghetto thugs at Lenox and Phipps and homelessness and crime. Twenty years ago Lenox was for the “ladies who lunch” crowd (rich Buckhead Betty’s) those customers are LONG GONE! Buckhead now is aspirational blacks and thugs. Sorry, but you have to call it like it is.

Anonymous said...

Lived in Buckhead since 2006 and the only time I ever went here (prior to the pandemic before the crime was out of control and I have never been back) was to have a few drinks at Fado and to visit Shake Shack once in awhile. Now it's just shady area with people walking their pit bulls around, homeless, and people from outside of Buckhead that don't appear to be patronizing any business, but just walking around and taking Instagram photos. COVID killed Buckhead - no police, no security and everyone has fled.

Anonymous said...

Wrong. Obviously written by a racist who doesn’t live in Buckhead and doesn’t visit these places.

Anonymous said...

Wrong. When was the last time you were there? “Everyone has fled…” means no people are there and its just tumbleweeds and dirt.

Anonymous said...

@ Anon: what is the difference between an aspirational black and a thug? Do they look the same?

Anonymous said...

The announcers of “lower crime” are not accurate! Buckhead is more infested with dangerous subhuman parasites than ever… and not enough people are understanding the very real problem. Therefore, decline will continue…

Anonymous said...

Dis beez duh troof!

Anonymous said...

An aspirational black has better shoes, a thug
Has shoes from wal mart

Anonymous said...

There are so many homeless in Buckhead now it's crazy. Some days I probably see 1 homeless person for every 4 workers and shoppers walking down Peachtree. Drove by Phipps today and there's just a dirty mattress on the sidewalk in front of Dick's. Don't see that kind of stuff in high-end shopping districts in other parts of the country.

Anonymous said...

We visited Wahlburgers in Foley Alabama twice when we took our granddaughter to OWA. The food was great
The grilled cheese our granddaughter ordered was hugh! She consumed it all. Hubby & I went for a burger. It also was great. Unfortunately few patrons. OWA HAS NOW EXSPANDED THEIR AMUSEMENT PARK. Paula Dean has opened her restraunt. There is now more foot traffic. If wahlburgers could have held on a couple more years in this location, they would have been okay.

Anonymous said...

Ahhhhhh, lolololol, No it was NOT covid that killed Buckhead phooo ! Gnowhaimsayin?

Anonymous said...

Buhh, it beez raycist to address the real problem???

Anonymous said...

I live in buckhead, lower crime??? Are you kidding me? Near my townhouse, we have had a car break in almost every week for the past two years, homelessness is out of control, there was a man sleeping on a neighbors porch one morning and she was not home, and I’ve lived here for 17 years. buckhead is a complete mess and everyone who lives here knows it. The only people in denial are the libtards and minorities who don’t want to face the truth.

Anonymous said...

The last time I was at Phipps plaza I parked in the parking garage near Saks. The man in the car next to me rolled his window down and as I was getting out of my car asked me if I was single. My gut told me to get out of there fast, and I did, I just had the most uneasy feeling

Anonymous said...

Well according to city leaders, that makes you a racist MAGA Karen. Criminals are the real victims and should be coddled and protected.

Anonymous said...

The new brown and company location will not have a watchmaker/service depeartment on site. You will have to visit the Roswell location.

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