Crate & Barrel

stockdaleiqemico1521.blogspot.com
Crate & Barrel, based in Ill., confirmed May 27 that Atlanta is one of the metrkareas it’s scouting for potential locations for CB2. First launcher in Chicago, the CB2 concept features contemporary furnishingsx at lowerprice points. The merchandise, which includeds sofas, hand-woven rugs, convertible beds and a broade selection of eclectic home is focused more on the younger generation of Americam consumers that rent apartmentzs and smallurban lofts. Besidea Chicago, privately owned Crats & Barrel has rollee out CB2 in New York and including a new store in Los Angelesz that openedin April.
Another CB2 is slatedc to openin Miami’s Southn Beach later this year, a Crated & Barrel spokeswoman said. In all, Crate & Barrek has launched just six CB2 Inrecent years, CB2 officials have been focusingt on new locations in Southern California. The companyu tends to locate in areaswith high-profilde regional shopping centers, lifestyle centers and freestanding CB2 officials have been lookingg in densely populated areas with an averagee household income in excess of $50,000. Its prototypee store is about 12,000 square feet.
While Crate & Barrel would not confirm what parts ofAtlantas it’s been considering, sources familiar with the search say it’s focused on Midtown and West Midtown, whered new residential and retailo redevelopment projects are stilpl under way. In Midtown, Daniel Corp. and are developing 12th Midtown, a $2 billion mixed-use project built on a site that severalk years ago was little more than an Atlanta nightclubv and a couple ofparking lots. Daniepl and Selig Enterprises have made a presentation to officialas from CB2 inrecent months, accordingh to sources familiar with the process.
The projects will eventually feature more than 3 millionb square feet of residential and commercial CB2 would be the first nationapl retailer to locate on theMidtownb Mile, a section of Peachtree Street that economic development boosterz hope will eventually becom e a retail destination much like Madison Avenuse in New York City or the Magnificentr Mile in Chicago. Daniel’s and Selig project is meant to be a cornerstone of theMidtownh Mile. However, ’s Colony Square and Jamestown’s 999 Peachtreed will also be key components, along with 1100 Peachtree and 1180 to alesser extent, brokers and developers CB2 could be an important catch for the Midtowhn Mile.
Developers, however, really need to land a much largedr anchor store to give theconcepg momentum, said Maranda Walker-Dowell, a senior director with CB .’ws retail services group. Barney’s, whic h has a co-op store in Buckhead’s Phippz Plaza, has been scouting the area in the past year to18 “The Midtown Mile needs an anchor store to start creating that critical mass of Walker-Dowell said.