The lease is one of several recent developments in the progress of the $600 million mixed-use project.
Avalon plans to open October 2014, with a mix of retail, entertainment, restaurant, residential, office, hotel and public spaces.
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 theater in the U.S.; discussions are ongoing with retail and restaurant tenants such as Antico Pizza Napoletana, Bantam + Biddy, Free People and Janie and 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,” stated 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 in-town 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.”
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 Tommy Bahama, Vineyard Vines, Tuk Tuk and J. Alexander’s.
More than 50 percent of the office-over-retail has been leased. New tenants include Wakefield Beasley and Associates and Integrated Care Management.
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 prospective homebuyers for the 101 homes to be built. Initial concepts for the homes are available by contacting Atlanta Fine Homes Sotheby’s International.
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.