ToNeTo Atlanta reported last week that the owners of Cumberland Mall in Smyrna would be dividing their former Sears "box" into at least three new tenant spaces in 2020. With plans materializing at Cumberland Mall, our thoughts turned to the redevelopment of Northlake Mall and its former Sears store. It has been nearly three and half years since Dallas-based ATR Corinth Partners purchased Northlake Mall, and essentially nothing visible to the public has happened during that time.
As with so much in real estate, what the public can see is often the culmination of days, weeks, months and in this case years, of behind-the-scenes negotiations, planning and politicking. Tony Ruggeri, partner at ATR Corinth, like many in the community, would like nothing more than to begin physical work at the largely vacant mall. Ruggeri tells ToNeTo Atlanta that the process today is more time consuming than it has ever been before.
Ruggeri indicated that the long, drawn out process at Northlake Mall is not an Atlanta issue or a Tucker issue, but rather a result of today's retail climate in which every new store, every lease, and every commitment to expand is scrutinized far more than ever before, by most, if not all, would-be tenants, especially larger ones.
Ruggeri added that while he and others are bullish on Northlake, it's not considered "Main & Main" like a Buckhead deal, for instance, meaning that for some, it takes even more convincing to get deals done and leases signed.
The ATR team remains committed to the Northlake Mall project and are steadfast in their leasing efforts. Ruggeri told ToNeTo Atlanta that the final result, which he anticipates the community embracing, will be a mix of retail, restaurant and medical offices.
As far as updates to the mall itself, popular Northlake Mall eatery Fork in the Road relocated from the front of the mall to a former Wendy's on LaVista Road this past March. In May, the City of Tucker approved ATR's requested annexation into Tucker. The annexation took affect June 1.
Ruggeri was hesitant to predict when there would be visible progress at Northlake Mall, but he is optimistic that there will be something more exciting to look at in 2020.
What would you like most to see open at Northlake Mall? What type of business do you feel is lacking in Tucker? When do you think the re-imagined Northlake Mall will actually open?
Please share your thoughts below