17 minute read
North American Properties Invests in Downtown Peachtree Corners
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.
By Arlinda Smith Broady Feature image by Singh Vipul
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
Tim Perry 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
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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
Tim Perry
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?’”
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.” ■
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New EV Charging Concept Unveiled in Technology Park
Siemens, a technology company focused on industry, infrastructure, transport and healthcare, recently unveiled a new sustainable EV charging concept designed for electrifying fleets and high demand charging applications at scale. The new VersiCharge XL concept was created to electrify new or existing parking lots and building structures quickly and efficiently by using a modular, scalable design.
Made in partnership with Nexii Building Solutions using their proprietary, sustainable building material with low carbon footprint, the structure resembles a modern-day fueling station. It was developed in late 2021, and then installed in only three days at Siemens’ R&D hub eMobility and North American Headquarters for Electric Products.
Congresswoman Carolyn Bourdeaux, among those on hand for the ceremony, was excited for the possibilities. “As more and more consumers choose to go electric, we must ensure that our communities have the infrastructure to accommodate electric vehicles,” she said. “When I ran for Congress, I made a commitment to FutureFit our suburbs, and Siemens EV charging technology helps to deliver cost-effective electric charging in our community. With 2030 only eight years away, it is critical we get to work building a network capable of supporting our climate goals and millions of new electric vehicles.”
Peachtree Corners Mayor Mike Mason agreed. “We are proud that Siemens is part of Peachtree Corners’ Technology Park and continues to lead the way in the development of innovative electrical and eMobility technologies,” said Mason. “It is these types of successful partnerships between Siemens and Nexii that will continue to lead our area, country and the world in the design and deployment of sustainable, environmentally friendly eMobility solutions and the development of a successful nationwide EV network.”
As the industry’s first EV charging system to house all necessary electrical infrastructure components that power EV chargers in an aboveground, enclosed and low carbon structure, the design requires minimal disruption to existing parking lots by eliminating costly, time-consuming, and substantial civics works and reduces on-site construction waste and environmental impact.
“With the ever-increasing demand for EV infrastructure across the United States and beyond, we recognize a real need for fast deployment, scalability, easy upkeep and reliability,” said John DeBoer, Head of Siemens eMobility, North America.
With its scaling and versatile capabilities, the VersiCharge XL concept is designed to be installed to charge large numbers of electric vehicles using either level-2 or level-3 EV chargers in outdoor environments ranging from small office building parking lots to last mile logistic hubs, and up to a stadium parking lot.
“Construction and transportation are two of the biggest sources of carbon emissions driving climate change today,” said Stephen Sidwell, co-founder and CEO of Nexii. “We’re excited to unveil this initial eV Charger prototype and look forward to even more innovations we can make working together.”
Recently, the company announced it is expanding its U.S. manufacturing operations to support EV infrastructure in America, producing one million EV chargers by 2025. ■
Mayor Mason Speaks at Global Smart Technology Summit
Peachtree Corners’ reputation as a ‘city of the future’ isn’t only known locally. Technology experts around the world are aware of the cutting-edge innovation taking place here. Considering that fact, Peachtree Corners Mayor Mike Mason was invited as a virtual presenter during the Mayors’ Summit and Panel Discussion, part of the 2022 Smart City Summit and Expo being held in Taipei, Taiwan.
As mayor of one of the world’s premier smart cities, Mayor Mason was among the 21 city leaders invited to present at this year’s event. In addition to the presenters, the subsequent panel discussion included leaders from approximately 30 countries around the world, according to a news release.
Every year, the Smart City Mayors’ Summit gathers city mayors and high-profile municipal delegates from across the globe to share and exchange insights on the latest governmental strategies and trends in smart cities. The Summit is not just one of the biggest highlights in the Smart City Summit and Expo, but the world’s largest networking platform among smart city governments. ■
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Peachtree Corners City Council Recognizes 10th Anniversary of Southwest Gwinnett Chamber
Councilman and Past SWGC Chair Weare Gratwick and SWGC Director Beth Coffey
Left to right, Past SWGC Chair Dave Jones, CEO of IMG, Councilman Joe Sawyer, Councilman and Past SWGC Chair Weare Gratwick, SWGC Chairwoman Margie Asef, SWGC Member and Event Emcee Phillip Williams, CEO of P&P Business Solutions
On March 24, Mayor Pro Tempore Weare Gratwick and City Councilman Joe Sawyer attended the 10th Anniversary Celebration of the Southwest Gwinnet Chamber of Commerce.
During the event, Gratwick presented a copy of the Proclamation that was entered into the official Peachtree Corners record during the Council’s regular meeting held on March 22. In addition to serving as a current board member of the Southwest Gwinnett Chamber, Gratwick is a past Chairman of the organization.
“The 10th Anniversary Celebration was a chance to not only reflect back on the Chamber’s accomplishments but also look to future and how we can continue to support businesses, schools and nonprofits,” said Gratwick. “It was rewarding to see so many folks come together and celebrate what so many have had a hand in building.”
“There is such a synergy between the vibrant cities of Peachtree Corners, Norcross and Berkeley Lake,” said SWGC Chairwoman Margie Asef. “The businesses, organizations, schools, and communities all benefit from the unified support of our local, regional and worldwide reach.”
The proclamation presented by the City Council read as follows:
A PROCLAMATION OF THE CITY OF PEACHTREE CORNERS, GEORGIA RECOGNIZING THE TENTH ANNIVERSARY OF THE SOUTHWEST GWINNETT CHAMBER OF COMMERCE WHEREAS, the Southwest Gwinnett Chamber of Commerce was established on March 19, 2012 to support, equip, and engage businesses in Peachtree Corners, Berkeley Lake, and Norcross; and
WHEREAS, the Southwest Gwinnett’s Chamber vision is to champion the southwest Gwinnett area as a preferred place for supporting economic opportunity, embracing diverse talent, and generating a robust quality of life; and
WHEREAS, over the past ten years, the Southwest Gwinnett Chamber has implemented its vision and made a difference in our community by bringing businesses together, fostering a spirit of cooperation, and engaging in civic activities.
NOW, THEREFORE, BE IT PROCLAIMED by the Mayor and Council of the City of Peachtree Corners that the Southwest Gwinnett Chamber of Commerce is hereby congratulated on its tenth anniversary and commended for its decade of success in our community.
SO PROCLAIMED AND EFFECTIVE, this 22nd day of March, 2022. ■
Israeli Consul General Visits Peachtree Corners’ Curiosity Lab
Peachtree Corners — one of the nation’s first smart city environments powered by real-world connected infrastructure and 5G — recently hosted a visit by Anat Sultan-Dadon, Consul General of Israel to the southeastern United States.
The Israeli Consulate, located in Atlanta, has worked closely with the City of Peachtree Corners and its Curiosity Lab to provide a launching pad for Israeli tech and mobility firms to expand into the United States and across North America. Israel was the first international country to focus attention on this leading smart city, closely followed by France, Taiwan, Canada, Mexico and other regions flocking to the technology hotspot.
“I was thoroughly impressed with my visit to Curiosity Lab at Peachtree Corners. It’s no surprise that some of the brightest Israeli technology developers and startups have been gravitating to Peachtree Corners at the heart of what’s being called ‘Silicon Orchard’ — where opportunities to collaborate with some of the world’s most prominent telecommunications, mobility and overall technology companies are unmatched,” said Sultan-Dadon in a press release.
Peachtree Corners and Curiosity Lab have hosted numerous Israel-born technology startups, also helping to create critical new partnerships and opportunities to expand.
“For decades, Technology Park has been home to several international companies responsible for revolutionary technological developments with massive global impact, and we are proud to continue fostering the same pioneering spirit with our Israeli partners. I was honored to host Consul General Sultan-Dadon and Deputy Consul General Alex Gandler to give them a first-hand look at the amazing work being done by all of our international companies,” said Peachtree Corners City Manager Brian Johnson. ■
