Buckhead Biz Briefs: Propel Agency Moves, Georgian Hills Redevelopment Underway
Business news in and around Buckhead.
Streets of Buckhead Developer has Plans for Savannah
Ben Carter, the original developer of Streets of Buckhead (now Buckhead Atlanta), plans to build an outlet mall on Savannah's outskirts in Pooler. Read more at The Atlanta Journal-Constitution.
Georgian Hills Apartments Redevelopment Underway
Kaufman Realty Group LLC and Atlantic Realty Partners Inc., both based in Atlanta, have partnered to redevelop the 40-year-old Georgian Hills apartment complex at 1185 Collier Road. The companies will replace the aging complex with a new 288-unit mid-rise apartment development called The Reserve at Collier Hills, according to the Atlanta Business Chronicle.
Starbucks Buys Teavana for $620 Million
Starbucks announced Wednesday it is buying Teavana, which is based in Atlanta, for $620 million cash. Teavana opened its first location in Buckhead's Lenox Square Mall in 1997 and still has a location there today.
The Atlanta Business Chronicle said Starbucks is expected to complete the deal this year. The move centrally positions Starbucks, giving it 300 retail outlets, into what ABC said is a $40 billion global tea market. Now, Starbucks can continue with its plan to move into the global tea market without opening new stores under its Tazo tea brand and without competing with Teavana.
Propel Agency Moves into Peachtree 25th Building
Local brand design firm The Propel Agency announced its move to the 3,388-square-foot space at Peachtree 25th Building on Peachtree Street. Recent hires and overall agency growth drove the move for Propel from their previous space in Virginia-Highlands, according to a release from Propel Agency.
Moving into the Peachtree 25th building puts Propel in an ideal location in the center of Atlanta, where Buckhead meets Midtown. With international clients headquartered in the U.S., the U.K. and Germany, the agency’s easy access to Hartsfield-Jackson Atlanta International Airport is also essential.
The attached panoramic photo shows the new space.