Business

The Forum faces store closings; new owner, new openings may spark turnaround

Published

2 years ago

January 14, 2022

Nathan Deen

Williams-Sonoma at the Forum on Peachtree Parkway (Photo by Nathan Deen)

After nearly 20 years, Williams-Sonoma is in the process of closing its location at The Forum in Peachtree Corners. In the same mall, affordable women’s clothing store Dress Up has already closed its doors to shoppers.

Lindsey Hymel, marketing manager at The Forum, confirmed Dress Up has ended its lease, and the store is no longer listed on The Forum’s website.

Hymel said she could not comment on the status of Williams-Sonoma, the kitchenware and home furnishing company based in California that has two other metro Atlanta store locations in Alpharetta and Marietta. As of this report, the store is still operating at The Forum.

However, Williams Sonoma has placed a sign in its window announcing that it is closing soon and is in the process of selling off its current inventory.

Mario Mireles, an Atlanta-based commercial real estate property manager who has no specific knowledge of the Williams Sonoma situation, speculated that the closure could be due to a combination of poor sales and lease longevity.

“Williams-Sonoma, like some of the better-known names in The Forum has a very favorable lease deal — usually only pays a small percentage of sales as rent, both due to the low overall occupancy of the property and the landlord’s desire to keep the well-known stores in the property as a method to attract other retailers,” Mireles said.

“Due to its longevity at the property, Sonoma may have well been on a month-to-month agreement that is easily terminated. Depending on the location as well as the chain’s regional and national performance, retailers like Sonoma are opportunistically culling their locations as circumstances allow them. They could devote those resources to another store and see a sizeable increase in sales.”

New mall owner rumored

The Forum is currently managed by commercial real estate firm Bayer Industries, but a new opener could be announced soon, according to District 3 City Councilman Alex Wright

In an interview with Peachtree Corners Magazine, Wright said the most likely buyer could be North American Properties, which owns the Avalon mall in Alpharetta as well as the Atlantic Station mall in downtown Atlanta and Avenue East Cobb in Marietta.

A recent analysis by Forbes magazine shows that as the world moves toward a post-pandemic phase, physical retail is on the rise again. Even with online shopping becoming more prevalent, there is still an overall increase in demand for retail real estate.

New stores could appeal to fitness community

While The Forum is losing two stores, it’s already added a new one, and two more are on the way, according to a press release.

Versona, a women’s fashion boutique owned by The Cato Corporation, opened to the public on Dec. 16 and became the brand’s ninth location in Georgia. The Forum location is managed by Norcross resident Tina Cehic and is open from 10 a.m. to 9 p.m. Monday through Saturday and noon to 6 p.m. on Sunday.

“Versona promises to be a fun shopping experience where women can find unique, on-trend styles at a great value,” said Cato Corporation president and CEO John Cato. “We are excited about our newest Versona store opening at The Forum on Peachtree Parkway.”

The other two stores could catch the eye of the health and fitness community within Peachtree Corners. Club Pilates, a studio fitness center that offers full-body workouts and a diverse range of classes, will take over the space previously occupied by Gigi’s Cupcakes, while Chopt, a chain restaurant specializing in inventive salads and sells 17 house-made dressings, will take up a portion of the former Atlanta Bread Company.

Hymel said there are monthly pop-up fitness classes at The Forum, which indicates Club Pilates will fill a big need within the Peachtree Corners community.

“Peachtree Corners is already a fitness community,” she said. “Once a month, we’ll bring in a gym to do pop-up fitness, and that’s already gone well.”

Out of 100 metropolitan areas, personal finance website WalletHub ranked the Atlanta area at No. 23 for active lifestyles making it an attractive market for fitness-related businesses.

Pilates is a low-impact, mind-body exercise routine that works to strengthen muscles and improve posture and flexibility.

According to its website, Club Pilates offers nine types of Pilates classes as well as a range of equipment that includes TriggerPoint foam rollers, TRX springboards, EXO-chairs “and other equipment designed to build strength, mobility and stability.”

Keeoma Page, owner and operator of the Club Pilates location at The Forum, said Club Pilates brings affordability to what is normally an expensive workout method.

“Pilates is super-expensive, and Club Pilates allows it to be affordable,” Page said. “Everyone has their own piece of equipment, which is totally unheard of. Club Pilates scaled it in a way so they could bring Pilates to the masses.”

Club Pilates thrives from its membership packages, Page said, and she’s already had more than 50 people sign up well ahead of its spring opening. The club offers packages of four classes a month, eight classes a month, or unlimited classes.

Page said she has been looking for the perfect venue since she became the owner of her franchise three years ago. The location at The Forum will be the 14th to open in the metro Atlanta area.

“It’s such a perfect fit for Peachtree Corners,” she said. “People already know about it. I’m not introducing anything they haven’t already heard of. It’s a very active area.”

Club Pilates and Chopt will also be located near the Press Blend Squeeze juicer, Hymel said, making The Forum a one-stop destination for people looking for a good workout and a healthy meal.

“They’ll all be next to each other, so it’s really going to be a good mix for that fitness-minded community,” Hymel said.

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Nathan Deen

Freelance journalist and content marketer, author and aspiring Screenwriter. Nathan has written for Savannah Morning News, The Brunswick News and the Bayonet and Saber.

Business

BRACK: Peachtree Corners to lose Peterbrooke Chocolatier

Published

6 days ago

April 19, 2024

Courtesy of Elliott Brack's Gwinnett Forum

Scottt Gottuso and Geoffrey Wilson. Photo provided.

Peachtree Corners will soon lose one of its most iconic, popular and tasty businesses.

Peterbrooke Chocolatier, run by Geoffrey Wilson and Scott Gottuso, has been told by Peachtree Forum landlords, North American Properties and Nuveen Real Estate, that its lease will not be renewed. The last day of business will be July 25.

Meanwhile, Peachtree Forum is getting several new stores. They include Kendra Scott, Sucre, and The NOW Massage. Previously announced were Alloy Personal Training, Cookie Fix, Gallery Anderson Smith, Giulia, Lovesac, Nando’s Peri-Peri and Stretchlab. Wilson adds: “We are not in their big picture.”

Wilson has operated Peterbrooke at the Peachtree Forum for 14 years and Gottuso has been there nine years. They have made the chocolatier profitable and doubled sales. Wilson says: “We turned it around through community involvement and made relationships. We worked with the schools, gave donations, did a lot in the community, and made a difference. We produce most everything we sell in the shop, so it’s labor intensive. We make European-style chocolate treats from scratch from the very best ingredients, package it, make gift baskets, and also sell a lot of gelato.”

Key items include truffles, hand-made caramels, cherry cordials, chocolate-covered cookies and pretzels and strawberries hand-dipped in their own blend of chocolates. (They are all good!) One of Wilson’s and Gottuso’s most iconic products is chocolate popcorn. Once you try it, regular popcorn is tasteless. “We sell a lot of it.” Wilson adds: “Gelato sales have carried us in the summertime, since there are not many chocolate holidays in the summer.”

Peterbrooke now has five employees, and would like to have 10, but it is difficult to hire people with the skills in chocolatiering. A key part of its business is corporate companies, such as Delta Air Lines and Capital Insight. The Peachtree Corners’ Peterbrooke has corporate customers as far away as Cleveland, Ohio.

The operators were surprised when the Forum owners did not renew its five year lease. “The big decisions were made in Charlotte or Cincinnati, not locally,” Wilson feels. “We were no longer in their big picture. They want new and glitzy, shiny, fancy and trendy.”

The operators plan to start their own chocolate company, to be called “Scoffrey,” and initially sell online, plus have pop-up locations during holidays, and possibly have a booth in other merchants’ stores on occasions.

“Whatever we do would look different. We might rent a space somewhere close by so that people can still have the good chocolate experience with us, but we won’t have a regular audience walking by.”

Another element: the price of chocolate futures has spiked this year, with a bad crop production year. Wilson says: “That is key to our business and a huge cost increase. That doesn’t help.”

Wilson adds that the forced closing of the Peterbrooke location “is something like the death of a friend. But you go to the funeral and to the wake, and in six months or a year, It won’t be so bad.”

Have a comment? Send to: elliott@elliottbrack

Written by Elliott Brack

This material is presented with permission from Elliott Brack’s GwinnettForum, an online site published Tuesdays and Fridays. To become better informed about Gwinnett, subscribe (at no cost) at GwinnettForum

Business

North American Properties Revitalizes Avenue East Cobb

Published

1 week ago

April 16, 2024

Peachtree Corners Magazine staff

North American Properties (NAP) has revamped the Avenue East Cobb shopping center in Marietta, boosting its appeal to suburban residents.

The Andrews Brothers performing at Avenue East Cobb via Instagram @avenueeastcobb

North American Properties (NAP) has revamped the Avenue East Cobb shopping center in Marietta, boosting its appeal to suburban residents seeking a more urban lifestyle. Now, it’s being honored as part of the Atlanta Business Chronicle‘s “Best in Atlanta Real Estate” coverage.

NAP is known for transforming properties like Atlantic Station, Colony Square and The Forum.

According to the Atlanta Business Chronicle, the redevelopment involved demolishing part of the main building to build a public plaza with a stage surrounded by restaurant patios.

A new concierge facility was also added, including a canopy for drop-offs. Additionally, smaller retail buildings were created for standalone tenants. The business mix was updated to include names like Warby Parker, Lululemon and Peach State Pizza.

NAP also increased community engagement by partnering with at least 10 local organizations for social events. These efforts have proven successful. Over the last two years, Avenue East Cobb has seen a 36% increase in sales per square foot thanks to a major rise in foot traffic.

More news from North American Properties can be found here.

Business

North American Properties Secures 3 New Brands for The Forum

Published

2 weeks ago

April 11, 2024

Peachtree Corners Magazine staff

North American Properties (NAP) and Nuveen Real Estate announced three new businesses are planting flags at The Forum Peachtree Corners.

Sucré – A Sweet Boutique

North American Properties (NAP) and Nuveen Real Estate announced three new businesses coming to The Forum Peachtree Corners (The Forum). The new brands include Kendra Scott, Sucré, and The NOW Massage.

“We’re excited to keep expanding our merchandising mix with more experiential concepts that motivate guests to extend their time on property. In addition to these new leases, several tenants are on track to open over the next few months, and we can’t wait to see the impact,” said Brooke Massey, director of leasing at NAP.

Here are the latest deals to be signed at The Forum:

Kendra Scott – Known for its plethora of accessories and customizable Color Bar experience, jewelry brand Kendra Scott blends classic designs with modern sophistication. Kendra Scott jewelry celebrates individuality and self-expression.

The growing brand has also donated over $50 million to local, national and international causes since its launch in 2010. The 2,284-square-foot space, situated next to Lovesac, opens later this spring, marking the retailer’s fourth location in the NAP portfolio.

Sucré – Founded in New Orleans, Sucré is a gourmet patisserie known for its macarons, gelato and other handmade, French-inspired desserts.

The sweet boutique will occupy a 1,718-square-foot space on the north end of the property and is slated to open later this year. Georgia is the brand’s first out-of-state venture, with The Forum being its third metro Atlanta location and eighth overall.

The NOW Massage – This brand is helping people discover the healing benefits of massage therapy.

The customizable menu offers guests three signature massage styles and a variety of exclusive enhancements like Deep Tissue, Herbal Heat Therapy, Hemp Calm Balm, Gua Sha, Gliding Cupping and more. Located near Mojito’s, the 2,414-square-foot massage boutique debuts late summer.

These businesses join:

Alloy Personal Training (opening this month),
Cookie Fix (open),
Gallery Anderson Smith (opening this month),
Giulia (opening this spring),
Lovesac (open),
Nando’s Peri-Peri (coming winter 2024), and
Stretchlab (open).

Since acquiring the property in March 2022, NAP has executed 39 deals with new, existing and temporary tenants alike.

To stay up to date on the latest happenings at The Forum, follow on Facebook, Instagram, and X or visit theforumpeachtree.com.