REAL ESTATE

Simon plans Phipps Plaza renovation in Atlanta

BY Michael Fickes

Atlanta — Simon Property Group has announced a series of improvements for Phipps Plaza in Atlanta’s fashionable Buckhead district.

The first improvement will make over the interior with a fresh new look. Plans include upgraded LED lighting, repainting, new warm wood accents, an updated railing system, luxury soft seating and lounging areas with Wi-Fi connectivity and chargers, upgraded restrooms and the installation of a hotel-like concierge service center.

The project also includes major improvements to the parking decks. All entrances from the parking decks to the mall will be improved with new flooring, lighting and automatic doors to welcome customers. Lighting in the parking decks will be converted to energy efficient LEDs, which will also improve lighting throughout the parking decks.

Additional projects being planned include improvements to the property’s entrance along Peachtree Road, which will include a dynamic streetscape filled with luxury storefronts and new lush landscaping. New additions will include 320 luxury residential units and a 164-room hotel with upscale dining.

Construction will commence this summer and finish up before the holiday season.

The property will remain open during the renovations.

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REAL ESTATE

Peter Millar is coming to Madison Avenue in NYC

BY Michael Fickes

New York — Faith Hope Consolo, chairman, and Joseph Aquino, executive VP, of Douglas Elliman’s Retail Group have arranged a first New York flagship for luxury apparel and accessories brand Peter Millar on Madison Avenue, between 54th and 55th Streets.

"This label is a perfect fit for the Madison and Worth Avenues of the world," said Consolo.

Consolo and Aquino represented the landlord, E PLUS E LLC, and Hanley Advisors represented the tenant.

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Express debuts outlet store format; will open 30 by year-end

BY Marianne Wilson

New York — Specialty fashion retailer Express has entered the booming outlet mall sector, opening its first-ever outlet store, at Tanger Outlets National Harbor center in Washington, D.C. The retailer plans to open approximately 30 additional factory outlet locations throughout the United States in 2014, targeting such top markets as Chicago, Dallas, Detroit, Las Vegas, New York and other top markets.

"We are particularly excited about our outlet initiative, which represents a new format for Express," said Michael Weiss, chairman and CEO of Express. "I’m very optimistic about this new part of our business and the associated growth potential."

Express’ outlet stores carry both women’s and men’s apparel and fashion accessories. The retailer said the new format supports its growth strategy of becoming more accessible to the twenty-something, fashion-conscious, yet price-sensitive customer.

"Factory outlets are an important growth initiative for Express, offering us a unique opportunity to acquire new customers by offering great fashion and quality at an amazing value," said Andrew Buck, VP and general manager of outlets for Express.

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