North American Properties announced that it has acquired The Avenue East Cobb in Marietta, Georgia to bring its guest service, events, and dining to the same level as other Georgia hotels such as Avalon and Atlantic Station.
NAP bought the property for an undisclosed amount from Poag Shopping Centers, owned by The Avenue East Cobb last year by. was named one of the “Top 10 Comeback Centers” Age of the chain. Poag operates another center in Marietta called The Avenue West Cobb.
The innovations that guests can expect in the 230,000 square meter center include a central lawn area surrounded by chef-run restaurants with terrace areas, a concierge program that helps guests with shopping and parking, and an expanded sequence of events. NAP hosts more than 200 events each year in Avalon, Alpharetta.
“Lifestyle centers like The Avenue East Cobb are designed to fill market gaps – the retail deserts between regional malls – by providing outdoor shopping for the community,” said Tim Perry, Managing Partner of NAP. “As these communities matured around them they became the center of the community and while The Avenue East Cobb has remained a powerful asset over the years, NAP sees an opportunity to take the destination to a true third place with a modern mix from retailers and restaurants. ”
The center is already home to leading national brands such as Lululemon, Sephora, Pottery Barn and Williams Sonoma. What it lacks, according to the new owners, are the meeting places, fine restaurants and events that are the ingredients of a real city center.
“East Cobb is home to an incredible number of families looking for places to visit and things to do, but it lacks any downtown resemblance,” said Adam Schwegman, partner and senior vice president of Leasing at NAP.
Since embarking on an acquisition strategy in December 2019, the Atlanta-based developer has completed redevelopment and repositioning plans in Colony Square in Midtown Atlanta, Newport on the Levee in Newport, Kentucky, and Birkdale Village in Huntersville, NC
