Avenue East Cobb was a breath of fresh retail air in Marietta when it opened 25 years ago, an open-air alternative to enclosed malls that was chock with upscale, alternative brands appealing to Atlanta suburbanites.

Over the past half-decade, however, newer lifestyle centers in the region began drawing on its business. Avenue East Cobb’s traffic, sales, and tenant quality went into decline. Its occupancy rate had fallen below 75%.

So, in 2021, PGIM Real Estate, the center’s owner, entered into a joint venture agreement with North American Properties to re-tune the asset.

source: Chain Store Age