NAP Acquires 230K-SF Avenue East Cobb Retail Development

North American Properties (NAP) has acquired The Avenue East Cobb, a 230,000-square-foot retail destination in Marietta, GA. The sales price was not disclosed.

NAP plans to reposition the development with the addition of a central event lawn surrounded by restaurants with vibrant patios that increase connectivity and engage the public realm.  It will also introduce its signature resort-level Concierge program and community event lineup to elevate the experience on property. The Avenue East Cobb was first developed as part of Cousins Properties’ portfolio of lifestyle centers in 1999. The retail leasing team at NAP is focused on bringing relevant retail and chef-driven dining concepts that activate new patio spaces, further contributing to the street-level energy. The Avenue East Cobb is currently home to several national brands, such as Lululemon, Sephora, Pottery Barn and Williams Sonoma.

“Lifestyle centers like The Avenue East Cobb were designed to fill gaps in the market, the retail deserts between regional malls, by providing outdoor shopping for the community,” said Tim Perry, managing partner at NAP. “As these communities have matured around them, they became the center of the community and while The Avenue East Cobb has remained a high-performing asset over the years, NAP sees an opportunity to elevate the destination into a true third place with a modern mix of retailers and restaurants.”