Business

North American Properties Invests in Downtown Peachtree Corners

Published

3 years ago

March 28, 2022

Arlinda Smith Broady

The Forum on Peachtree Parkway (Photo by Singh Vipul)

New owners of The Forum look to revamp downtown and create a live, work, play open-air experiential center

As anyone who’s taken on a fixer-upper project can attest, you must have vision turn the worn-out into the worthwhile. Whether it’s an old sports car sitting under a tarp in the garage, a rundown farmhouse or an aging retail center that’s lost some of its luster, the artistry is looking beyond the rusted-out floorboards or rickety front porch and picturing what it could be.

A decades-old structure could become a space where people can live in amenity-laden accommodations, work in technology-forward office space and be entertained by the trendiest venues — all within a few miles’ radius.

That’s why many in Peachtree Corners are excited about the prospect of North American Property’s (NAP) purchase earlier this month of The Forum at Peachtree Parkway. For an undisclosed amount, it partnered with Nuveen Real Estate, another industry giant, to revitalize the 22-year-old site.

“To have an opportunity to get something like The Forum to own and be able to invest in a community like Peachtree Corners is important,” said Tim Perry, NAP managing partner. “By far the best thing was that the community just loves the asset, and it just needs a little second-generation love and needs some renewed focus. And it’s just rare you find something of such great quality with such great potential.”

With an average household income of $102,564, according to City of Peachtree Corners statics, and State Route 141, a major thoroughfare carrying commuters from as far north as Forsyth County through the city into Buckhead, the town of about 45,000 has quite an appeal. Perry, himself, takes that route from his home in Johns Creek to his offices in Midtown.

Although it lies on the Gwinnett County side of the Chattahoochee River, Peachtree Corners has the potential to rival Roswell and Alpharetta for affluence and quality of life.

Proven track record

That’s where the genius of NAP comes into play. It has already proven it can spin straw into gold, so to speak, when it comes to multi-use development. The rejuvenation of Atlantic Station in Midtown and Avenue East Cobb in Marietta, as well as starting from the ground up with Avalon in Alpharetta, are testaments to the expertise it has honed over the years.

Now The Forum stands to become the next shining example.

To make that transformation, NAP won’t just slap on a few coats of paint and add some new fixtures. This is no house-flipping endeavor. The first step to success, said Perry, is to realize what the residents want.

Take Avalon and Avenue East Cobb, which aren’t far from each other. Similarities include established, but still growing, communities and strong attachments to the reworked properties by the locals.

A retailer who wants to move into the metro Atlanta market can make a big impact and only needs to work with one company. They can obtain leases at three high-end developments that are far enough apart to avoid redundancy, but close enough to manage.

“It’s one call for a tenant to say, ‘Hey, I want to come into North Atlanta.’ Alright, we got we got three spots for you right now. And they’re far enough apart that they could conceivably be in all three,” Perry explained.

After all, in the metro Atlanta area, a 30-minute drive is almost like being in another state.

Reimagined retail: don’t call it a comeback

But the naysayers who worry that brick-and-mortar retail is dead haven’t done their homework. “Retail constantly reinvents itself,” Perry said. “If you’re a student of history, you can look at the local Main Street retail that evolved into the category of big boxes, like Walmart and Target and then the separation of service needs … it continually changes and reinvents itself. And it’s reinventing itself again.”

A recent report by the Data & Services arm of financial services titan Mastercard revealed that to remain relevant, physical retail must strategically evolve in the face of changing shopper preferences and new technologies. That means innovations in customer experience and a symbiotic relationship between physical and digital stores as a singular retail enterprise.

The report added that “many often see increases in e-commerce business after opening physical stores in a particular geography. On the flip side, a strong online presence can drive traffic in-store, as customers seek to try before they buy.”

According to Perry, “the new reinvention started with the experience and the injection of the experience and relationship that you have to have between the landlord and the tenant. So, on one end, that relationship is very transactional. And the guest experience, ‘I want to park close; I want to be able to go in and get whatever it is’ — whether that’s getting your nails done or your hair done or buying hardware or buying groceries — they want to be able to go and do that. That’s a transactional nature.”

The successful reinvention, however, goes beyond that.

“But the relationship side of it, or as we call it, the experiential side, is the other sort of end of the barbell. ‘I want to go there. I’m going to stroll, I’m going to have an experience, I’m going to socialize,’” Perry said. “Ultimately, we as humans are social beings.”

For example, you may come to buy a shirt, but then you will meet friends for dinner.

“While there, you really have to have that great experience,” he continued. “And the relationship starting between the tenant and the landlord is no longer landscaping and sweeping and lighting. It’s now ‘How can we have events that bring the community to the property and support those tenants?’ So, we don’t just do a yoga class, we do that yoga class in conjunction with Lululemon. Maybe we’re pulling that tenant out, and we may do a ‘Taste of The Forum’ type of event, where we’re getting the restaurants to come out and really put on display.”

NAP has a group called “Better Together” that works on improving the experience collectively.

“And it has some very tangible focuses, like environmental safety, physical safety, and security — all that kind of stuff,” Perry said. “But also has a very subjective approach as well, which is, ‘How do we just become happier, and how do we invest from our side in the community?’”

‘Skin in the game’

The group is focused on community interaction because NAP doesn’t just parachute into a community, make its money and leave. It becomes a part of the community.

“We hosted over 600 community-driven events across our portfolio in 2021 and raised more than $154,000 for philanthropic partners in the markets we serve,” Perry said. In serving the community, the company has to demonstrate to the city that its plans jive with the vision for the area.

To grow this wonderful live, work, play open-air experiential center — don’t call it a mall! — taxpayer dollars are going to used to create sewers and streets and hire more police and garbage collectors, and all the other things that come with expansion.

NAP has met with Peachtree Corners officials and indicated that it will seek a change in conditions and rezone property on or near The Forum for residential use.

“Right now, we’re early in the process of development for what will be a holistic property,” said Brian Johnson, Peachtree Corners City Manager. “We’re looking at how we can make The Forum and the area around it a global community for Peachtree Corners.”

To create a robust downtown, the Town Center and The Forum are two halves that need to be connected, Johnson said.

This concept isn’t unique to Peachtree Corners. It’s the “it” thing right now. Where in the past, all the commerce would be in one part of town and the residential in another part, the latest trend is to combine those — whether it’s in a macrocosm like the city of Atlanta, or more of a microcosm like the central business district in Peachtree Corners.

The city sees the project as a win for everyone.

“North American Properties looks at The Forum and the surrounding area and sees opportunities to enhance the downtown feel and expand the activities. And they have ownership, they have skin in the game,” Johnson said. “It’s good to hear them refer to The Forum in a proprietary manner. In our talks we take into account the city’s master plan for development.”

The end result is an improved downtown with the potential for growth to spin off in other areas.

With Town Center just a few years old, this project came at the right time, added Johnson. “We’ll work out the capacity for parking, power, water, sewer — all the details —because that’s our job,” he said. “The details marry up and both sides are sure to support each other.”

Perry couldn’t agree more. “The big, big goal at the end is we want to leave a lasting difference so that if one day — anytime in the future — North American Properties is no longer an owner, the property is establishing a strong relationship through some cause with the community that it will live on, and that we are truly passing something back to our guests,” he said.

“To do that we’ve got to revamp the brand, which is step one. We’ve got to solidify a vision for all of Peachtree Corners. And then we’ve got to go and get tenants that you all want and restaurants and users that align with that vision to come in and join us and join you,” Perry said. “There’s an alignment with their brand and the qualities and values of the community. That’s the big part of it.”

Other NAP Successes

Avalon – 2200 Avalon Boulevard, Alpharetta 30009

At 2.3 million square feet, this site is a sustainably designed urban development in a suburban setting. It infuses resort-level hospitality throughout a walkable, seamlessly connected community featuring a carefully curated retail collection and chef-driven dining experience, entertainment, living and working.

86 acres
570,000 square feet of retail space
Full-service 330-room hotel
750,000 square feet of Class A office space
Luxury apartments and single-family homes
200-plus events per year

Avenue East Cobb – 4475 Roswell Road, Marietta 30062

The shopping and socialization center opened in August 1999 as one of the first outdoor, pedestrian-friendly retail developments. For over 20 years, the center has served as a key shopping and dining destination for residents of Cobb County, offering a collection of 44 retailers and restaurants. In July 2021, North American Properties entered a joint venture partnership with PGIM (formerly Prudential Investment Management) to reposition the open-air lifestyle center by enhancing the guest experience and creating a modern gathering place for the community.

230,000 square feet of retail space
Four Cobb County high schools ranked in the 25 Best High Schools in Georgia
Expansive green spaces, trails and Chattahoochee River access throughout Cobb County

Up Next

The Forum has new owners, a new rezoning applicant for multi-use [Podcast]

Don't Miss

Peachtree Corners City Council Recognizes 10th Anniversary of Southwest Gwinnett Chamber

Arlinda Smith Broady

Arlinda Smith Broady is part of the Boomerang Generation of Blacks that moved back to the South after their ancestors moved North. With approximately three decades of journalism experience (she doesn't look it), she's worked in tiny, minority-based newsrooms to major metropolitans. At every endeavor she brings professionalism, passion, pluck, and the desire to spread the news to the people.

Business

PCBA Continues Charitable Giving at November Event

Published

3 weeks ago

November 25, 2024

Peachtree Corners Magazine staff

Members of the PCBA and United Way of Greater Atlanta standing together holding an oversized donation check for $500

The Peachtree Corners Business Association (PCBA) awarded a check for $500 to the United Way of Greater Atlanta (Gwinnett County) at their Business After Hours networking event in November.

The local organization was chosen by PCBA’s Outreach Committee because of their commitment to providing assistance and bettering the lives of children within the community.

United Way of Greater Atlanta

The mission of United Way of Greater Atlanta is to engage and bring together people and resources to drive sustainable and equitable improvements in the well-being of children, families and individuals in local communities.

“Greater Atlanta is one of the most vibrant regions in the country, but the region has significant barriers to realizing its potential in the future because of its continued ranking at the bottom of the list of metro areas in income mobility,” stated Vanessa Roussell, United Way senior director of corporate relations.

A short-haired woman in black pants and print top standing in front of a PCBA event backdrop — Vanessa Roussell, United Way of Greater Atlanta

“Children born in low-income households have only a 4% chance of getting out of poverty in their lifetime,” she continued. “We at United Way of Greater Atlanta don’t like those odds. Our work is about changing them so that children — regardless of where they’re born — have the chance to realize their potential and build lives that sustain themselves, their families and their communities.

Assessing needs within the county

The organization’s goal is to help every child unlock their full potential, by improving education, healthcare, resources and economic mobility in the communities where they live. Their “every child program” includes every child in Gwinnett.

Based on the 2023 census track for Gwinnett County, 94,308 people living in Gwinnett County are at risk, particularly in and around Sugar Hill/Buford, Duluth, Norcross, Lawrenceville, Lilburn and Snellville. The highest-need residents are located in the I-85 corridor, mainly around Duluth, Norcross and Lilburn.

Giving back to support the community

“The PCBA is proud to donate a check for $500 to United Way of Greater Atlanta (Gwinnett County),” said PCBA President, Lisa Proctor. “Our outreach committee and board are committed to supporting our community, and investing in the well-being of the children in our community aligns with our core principles. We know that our dollars will be targeted to help those at highest risk … We are glad to have the local Gwinnett chapter located right in our community.”

Funds for the PCBA Community Outreach Program are raised throughout the year from PCBA membership, sponsorship and an annual charity event. Donations and scholarships are awarded at their monthly events so that members have the opportunity to learn more about the community organizations and their programs.

Over the past 12 years, the PCBA has awarded 19 scholarships to outstanding graduating high school seniors and donated in excess of $165,500 back into the community.

About Peachtree Corners Business Association

“Where businesses come to grow,” the Peachtree Corners Business Association (PCBA) is a business membership organization that focuses on innovative approaches, programs, shared resources, community outreach and opportunities for member businesses and professionals to connect, develop, grow and prosper.

The PCBA is made up of businesses of all sizes and types who want to expand their reach and grow their business within Peachtree Corners and the greater metro Atlanta area.

For more information visit peachtreecornersba.com.

Around Atlanta

Metro Atlanta Redevelopment Visionaries Honored at 2024 MARS Summit

Published

1 month ago

November 8, 2024

Peachtree Corners Magazine staff

A group of award winners in front of a Partnership Gwinnett sign

Tim Perry, managing director and chief investment officer of Jamestown named Redevelopment Champion of the Year

The Metro Atlanta Redevelopment Summit (MARS), presented by Gwinnett’s Community Improvement Districts and co-hosted by Partnership Gwinnett and the Council for Quality Growth, offered an exclusive look at major redevelopment projects shaping the future of the region.

This year’s event not only highlighted emerging trends in the redevelopment industry but also provided valuable networking opportunities for professionals across metro Atlanta. Attendees gained insight into best practices through discussions on successful revitalization projects.

The summit’s marquee moment was the presentation of the annual MARS Awards, recognizing remarkable achievements in redevelopment that are transforming the metro Atlanta landscape.

The keynote address was delivered by Joe Minicozzi, a renowned urban planner and founder of Urban3, who shared his expertise on land use, urban design and economics. In addition to the keynote, the event featured dynamic panel discussions with local leaders and key partners from across the metropolitan area, spotlighting successful projects and innovative strategies in the region.

Chairwoman Nicole Love Hendrickson concluded the summit with closing remarks, emphasizing the continued growth of the region and the collective efforts driving its future.

2024 MARS Awards winners

The MARS Awards ceremony celebrated projects that have made significant economic impacts on their communities and honored Tim Perry, an individual who has dedicated his career to advancing successful redevelopment initiatives.

Redevelopment Champion of the Year: Tim Perry, managing director and chief investment officer of Jamestown

Runner up: Paul Radford, Sugar Hill city manager

Small Redevelopment Project of the Year: The Historic Jones Building

The historic Jones Building, one of the oldest structures in Cherokee County, has been revitalized to meet modern needs while preserving its storied past. This ambitious 28-month restoration culminated in August 2024, breathing new life into this cornerstone of downtown Canton and creating a dynamic space for work, dining, and play.

Runner up: The Hands of Christ Duluth Co-Op

Medium Redevelopment Project of the Year: The Grove at Towne Center

The Grove at Towne Center is a transformative development in the heart of Snellville. With 33,000 square feet of restaurant space, 10,000 square feet of retail and the new Elizabeth H. Williams Branch of the Gwinnett Public Library, The Grove offers an ideal blend of dining, shopping and cultural experiences.

Runner up: Springside Powder Springs

Large Redevelopment Project of the Year: The Works

The Works is an innovative, 80-acre adaptive reuse community that reimagines a historic warehouse district in Atlanta’s Upper Westside. The first phase, spanning 27 acres, introduced a dynamic mix of 218,000 square feet of unique retail and dining spaces, 118,000 square feet of creative office space and Westbound at The Works — a modern 306-unit multi-family residence.

Runner up: The Forum at Peachtree Corners

“Community redevelopment is essential in creating vibrant, thriving spaces that enhance the quality of life and drive sustainable economic growth for the entire region,” said Deven Cason, vice president of economic development for Partnership Gwinnett.

“We proudly congratulate this year’s award winners and finalists for their innovative contributions and tireless efforts in revitalizing our communities. Their work is not only reshaping local landscapes but also fueling long-term economic prosperity in metro Atlanta. We are grateful for their dedication to building a brighter, more prosperous future.”

2024 sponsors

The program was held at the former Georgia Baptist Convention Center, Maison6405, and welcomed more than 200 industry attendees.

Sponsors included Evermore CID, Gateway 85 CID, Gwinnett Place CID, Lilburn CID, Sugarloaf CID, C2H Air, Hogan Construction, Northside, Primerica, The Forum, Gas South, Jackson EMC, Select Fulton, True North 400, ABEV Power Solutions, City of Suwanee, Curiosity Labs, Geo Hydro Engineers, Georgia Power, Lose Designs, City of Lawrenceville, City of Norcross, City of Peachtree Corners, City of Sugar Hill and Town of Braselton.

For more information on revitalization and redevelopment efforts in the region, visit partnershipgwinnett.com.

Business

TransPak Acquires Reid Packaging to Expand East Coast Presence

Published

2 months ago

October 16, 2024

Peachtree Corners Magazine staff

group of people in a warehouse with two men in front shaking hands

The strategic acquisition strengthens TransPak’s Southeast presence and expands their capabilities in custom packaging for military, aerospace and high-value equipment.

TransPak, a global leader in logistics, packaging and crating services, recently announced the acquisition of Reid Packaging, a long-standing provider of custom packaging solutions based in Peachtree Corners. Both family-owned and operated companies share a deep-rooted commitment to quality craftsmanship, reliability and customer service, making the acquisition a natural fit.

Reid Packaging, founded in 1982, has distinguished itself as the go-to customer industrial packager in the metro Atlanta region, providing corrugated, foam and custom-engineered crating solutions, particularly in the military and aerospace industries.

two people from Reid Packaging standing in front of crates and boxes in a warehouse — Ward and Anne Phillips of Reid Packaging

Under the ownership of Ward Phillips since 2008, the company has grown to become one of the largest packaging facilities in the region, with a 60,000-square-foot site.

The acquisition will allow TransPak to expand its local manufacturing capabilities in the Southeast, while leveraging Reid Packaging’s expertise in specialized and heavy-duty custom crates.

Strategic Atlanta location and enhanced capabilities

The acquisition is part of TransPak’s strategic expansion into the Atlanta market, a critical logistics hub for both the renewable energy and semiconductor industries.

“We’re thrilled to welcome Reid Packaging into the TransPak family,” said Tomas Molet, executive vice president of East and Midwest Operations, TransPak. “With Reid Packaging’s prime location in Peachtree Corners, we are now able to serve customers throughout the Southeast, including direct routes to the Carolinas and beyond. This acquisition strengthens our ability to meet the needs of existing clients, especially those in the semiconductor and renewable energy sectors.”

four people at a ribbon cutting as TransPak acquires Reid Packaging — Tomas Molet and Amanda Gautney with Anne and Ward Phillips

In addition to the strategic location, the acquisition brings new manufacturing capabilities to TransPak’s East Coast operations. Reid Packaging’s facility is now the largest of TransPak’s locations in the region. Its offerings include enhanced services, such as heavy-duty and triple-wall corrugated packaging, which will enable TransPak to meet the growing demand for custom-designed packaging solutions for fragile, high-value equipment.

Commitment to employees and leadership appointments

A key focus of the acquisition was ensuring a smooth transition for Reid Packaging’s employees.

“We made a commitment to Ward Phillips to take care of the staff, and we’ve delivered on that promise,” said Molet. “All employees were retained, and we’ve introduced benefits they previously didn’t have as part of our commitment to making this a positive transition for everyone involved.”

Amanda Gautney, a longtime member of TransPak’s leadership team, has been appointed as the operations manager for the Peachtree Corners facility. “I’m excited to work with the team at Reid and continue the legacy of this respected company,” said Gautney.

two people from TransPak standing in front of crates and boxes in a warehouse — Amanda Gautney and Tomas Molet

Looking forward in Atlanta

TransPak plans to continue operating under the Reid Packaging name for the immediate future. However, the facility will gradually transition to full integration under the TransPak brand, reflecting the shared values and commitment to quality of both companies.

About TransPak

Headquartered in Silicon Valley, TransPak has been providing innovative and cost-effective design, crating, packaging and global logistics for over 70 years.

As a customer-focused, women- and family-owned company, TransPak combines the agility of a small business with the reliability of a global powerhouse. TransPak lives by the slogan, “We make it happen,” ensuring that high-value, fragile, and oversized goods reach their destinations safely and efficiently.

For more information about TransPak, visit transpak.com.