Redevelopment of Colony Square on the way

North American Properties (NAP) and Lionstone Investments have closed on a nearly $170 million deal to buy and redevelop Midtown’s Colony Square.

Part of that redevelopment will be removing the roof from the retail portion to make the space into a more “walkable, open-air experience where Atlantans will gather and spend time.”

Colony Square, which sits at the corner of Peachtree and 14th streets, comprises two office towers totaling 719,402 square feet, 162,953 square feet of retail space, as well as residential condos and a 467-room hotel. NAP and Lionstone acquired the office towers and retail space that connects them.

NAP said that before any concrete redevelopment plans are put in place, the team is seeking feedback from both the community and from experts in urban planning. NAP is asking people to share ideas for Colony Square with the hashtag #ReimagineCS on social media.

While the team develops longterm transformational plans, expect to see the NAP “experiential” approach immediately. Guests, residents and office tenants will be surprised and delighted by touches inspired by Georgia’s growing film industry, including the showing of holiday movies on an outdoor screen. NAP is also partnering with Midtown Alliance to “adopt” the nearby Arts District Plaza, where they will stage events for Colony Square tenants and the Midtown community. Follow Colony Square at Facebook (facebook.com/ColonySquareATL), Twitter (@ColonySquareATL) and Instagram (@colonysquareatl) for updates.

Alex And Ani

SRS Real Estate Partners (SRS) announced that the project leasing team in Atlanta has secured two new leases at Glenwood Retail, a redevelopment project by Paces Properties, the developers of Krog Street Market. The development is the revitalization of roughly 18,000 square feet of restaurant and retail on the corner of Glenwood and Gresham avenues in East Atlanta Village. Acorn Amplifiers, a musical equipment dealer specializing in custom handcrafted amplifiers and effects pedals, and So Worth Loving, a custom T-shirt and gift producer, will be located at the redeveloped retail shop spaces. Both tenants are expected to open this month.

ALEX AND ANI , the socially conscious jewelry and accessories brand, has opened new shops at Ponce City Market and Lenox Square. For more information, visit alexandani.com.