Four months after Jamestown reportedly purchased The Shops Buckhead Atlanta, the high-end retail, restaurant and office center in the heart of the Buckhead Village, the company officially announced the property’s acquisition.
Jamestown, an Atlanta-based real estate investment and management firm, reportedly bought the property from San Diego-based developer OliverMcMillan for between $175 million and $200 million. The Neighbor has learned its ownership will take effect Aug. 1 and emailed a Jamestown spokesperson to confirm that but got no response.
Jamestown will host its first town hall meeting there July 23 from 6:30 to 7:30 p.m. at The Shops’ Suite B200. Participants can RSVP or fill out a survey by visiting www.theshopsbuckheadatlanta.com/town-hall.
“As local Atlantans, the intersection of West Paces Ferry and Peachtree has always been a centerpiece of Buckhead and we are excited to be incoming stewards of this community asset,” Jamestown President Michael Phillips said in a news release.
Spread out over six blocks, The Shops includes 400,000 square feet of office space, including Spanx’s headquarters; 290,000 square feet of restaurant and retail space and 370 high-rise apartment homes and penthouses, according to its website.
In September 2014, seven years after its predecessor development’s groundbreaking ceremony, the Buckhead Atlanta project finally opened. Construction on the development, originally owned by Ben Carter of Buckhead-based Ben Carter Properties and called the Streets of Buckhead, ceased in February 2009 due to the recession.
In August 2012, OliverMcMillan took over the project, which was scaled down some and renamed Buckhead Atlanta, with The Shops name added mainly to market its restaurants and stores. Over the years the restaurants have had mixed results with some, such as Thirteen Pies, closing and others, such as Le Bilboquet, thriving.
Jamestown, which also owns Ponce City Market in Atlanta’s Old Fourth Ward, purchased The Exchange at Hammond and Parkside Shops shopping centers in Sandy Springs from Mimms Enterprises in October.
Nationwide, it owns several top shopping centers, including Chelsea Market in New York and California’s Fourth Street in Berkeley, The San Luis Obispo Collection in San Luis Obispo and Ghirardelli Square in San Francisco, according to the release.