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The owner of Midtown’s Colony Square is pitching the project as a possible location for a new Apple store.
According to several retail sources, Cincinnati-based North American Properties is trying to lure the high-tech retailer to the mixed-use project it acquired last December for $170 million.
The developer is planning a major redevelopment of the well-known property at Peachtree and 14th streets by taking the roof off the retail core and bringing in new tenants.
But, Mark Toro, managing partner at North American Properties, strongly denied any talks were underway with Apple Inc. for a new store.
“We aspire to bring flagship retail, but it’s not necessarily Apple,” Toro said. “It is not in the works ... We are not in talks with them.”
Yet, Toro has in recent weeks tweeted multiple times about Apple stores.
On May 20, Toro tweeted that he was heading out to San Francisco’s Union Square to check out Apple’s newly designed flagship store, saying “Apple wants its stores to be integrated into the community, as a kind of town square for anyone and everyone.”
On May 25, Toro was there, tweeting pictures while he toured the Apple store in Union Square, calling it “A. Mazing.”
Conceptual renderings released in May of the Colony Square redevelopment show a large, glass retail space that closely resembles the new Apple store in Union Square, which features 42-foot-tall sliding glass doors that open onto a plaza with free WiFi and acoustic music performances.
Existing Colony Square tenants have also shared with Atlanta Business Chronicle their belief Apple is coming.
And, several sources say North American has met with Apple executives, most recently during the International Council of Shopping Centers’ annual “RECon” convention in Las Vegas.
Apple also is said to have been touring Atlanta in the past couple months and could be looking at several projects, such as The Battery Atlanta, the mixed-use development surrounding the Atlanta Braves’ new ballpark, SunTrust Park.
Apple also recently considered moving its busy Lenox Square store to the front of the mall, but that deal didn’t come together, according to a source familiar with the lease negotiations.
Apple did not immediately respond to an interview request.
Apple currently has six stores in Georgia: in Lenox Square, Cumberland Mall, Perimeter Mall, North Point Mall, Mall of Georgia and Augusta.
It’s certainly not the first time a developer has wanted to lure Apple to Midtown. It’s been tried for nearly a decade.
In fact, North American had hoped to bring Apple to Atlantic Station, which it acquired, remade with new tenants, and later sold to Hines.
Toro even said on June 1, “We are not alone in wanting an Apple store in our development.”
Daniel Corp. and Selig Enterprises also tried to bring Apple to its 12th & Midtown development near Colony Square.
“An Apple store in the heart of Midtown is long overdue,” said Scott Selig, vice president of acquisitions and development for Selig Enterprises. “It’s a long overdue fit no matter where it lands in Midtown.”
That’s because of Midtown’s population growth, Selig said, but also the expansion of nearby institutions such as Georgia Tech, Savannah College of Art & Design, and Georgia State University.
If Midtown could land an Apple store, it could be a major boost to creating a retail destination along Peachtree Street. While restaurateurs have found success along the Midtown Mile, it’s been tougher to create a critical mass of shops.
Other retail projects are already in the works nearby.
Whole Foods Market is building a flagship store at 14th and West Peachtree streets.
And Dewberry Capital looks to remake its Campanile building with 77,000 square feet of retail, restaurant and office space along Peachtree, 14th, 13th and Juniper streets.
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