Avalon is an 86-acre open-air mixed-use district at 400 Avalon Boulevard in Alpharetta, North Fulton County, Georgia, about 20 miles north of Atlanta.
It sits near Georgia 400 and Old Milton Parkway, with Avalon Boulevard running through the property and three main access points from Old Milton Parkway.
The district functions as a retail, dining, office, residential, hotel, and events hub serving Alpharetta, North Fulton County, and the broader north Atlanta suburbs.
Avalon opened on October 30, 2014, after replacing the stalled Prospect Park plan, and became one of metro Atlanta's leading walkable suburban mixed-use destinations.
Avalon in Alpharetta Began as Prospect Park
Near Georgia 400 and Old Milton Parkway, the land that became Avalon sat in plain view before it had shops, apartments, offices, restaurants, or a hotel.
Drivers went by a big, unfinished construction area in one of Alpharetta's busiest shopping streets.
The first plan carried a different name.
In the mid-2000s, Thomas Enterprises planned a mixed-use project called Prospect Park.
The idea matched the real estate boom of that period: a suburban town center with stores, homes, offices, and public space.
The Great Recession stopped the project in 2008 after financing failed.
The property remained unfinished. Its location made the stalled plan hard to ignore.
North American Properties acquired the former Prospect Park site in July 2011.
The site measured about 106 acres at acquisition.
The completed Avalon development is usually listed at about 86 acres.
The new plan kept the broad mixed-use idea but changed the name, tenant strategy, phasing, public spaces, and design.
Prospect Park became Avalon in October 2011.
Avalon Gets Approval, Tenants, and Starts Construction
Alpharetta approved Avalon in April 2012.
The plan called for a two-phase mixed-use district instead of a standard shopping center.
The first phase centered on stores, restaurants, apartments, for-sale homes, office space, a main street, and a central plaza.
The second phase added more retail, more apartments, more office space, a hotel, and a conference center. Retail leasing began in March 2012.
By early 2013, the first phase had 34 tenant commitments.
About half of the retail space was leased, with more space still under negotiation.
Early committed tenants included Whole Foods Market, Anthropologie, Banana Republic, lululemon, Gap, White House Black Market, Drybar, L'Occitane, Marlow's Tavern, Kona Grill, fab'rik, and Pinkberry.
Site work began in January 2013. Groundbreaking took place on January 28, 2013. Hoar Construction built the project.
Wakefield Beasley & Associates served as master architect for the overall plan and much of the retail and office work.
Dwell Design Studio, Lew Oliver, Site Solutions, Cooper Carry, Monte Hewett Homes, and Greenstone Properties also worked on the development.
How Avalon's Main Street Took Shape
Vertical construction began in August 2013 after construction financing was arranged. About 75% of the retail space had been leased by that point.
The plan did not place stores behind a wide field of parking.
Avalon Boulevard became the main street. It runs through the project parallel to Old Milton Parkway and stretches about 1,700 feet.
Three main access points connect the district to Old Milton Parkway.
Second Street lines up with the central plaza and helps divide the property into walkable sections.
The central plaza was built with a lawn, fountain, outdoor seating, restaurant patios, and event space.
In winter, the lawn becomes an ice rink. The rink was designed to match the size of the rink at Rockefeller Center in New York.
The sidewalks often reach about 20 feet wide.
The design added landscape areas, pedestrian passages, valet zones, patio dining, and places to sit.
Parking was placed across surface lots and structures. The original full plan included about 4,970 parking spaces.
Avalon Opens With Four Days of Public Events
Avalon opened on October 30, 2014. The opening ran for four days and brought about 25,000 people to the property.
The schedule included music, food, fashion events, family activities, holiday programming, fireworks, and a public viewing event for the Georgia-Florida football game.
The first phase opened with stores, restaurants, entertainment, apartments, for-sale homes, and office space.
Whole Foods Market, Regal Cinemas, Crate & Barrel, Orvis, Anthropologie, Banana Republic, J.Crew, lululemon, and other national and local tenants formed the early mix.
The multifamily residential component became available for occupancy in November 2014.
Phase I included about 390,500 square feet of retail and restaurant space, 105,400 square feet of office space, 250 rental apartments, and 101 for-sale homes.
Retail buildings were built for flexibility. Many spaces had venting that allowed restaurants to use areas that otherwise could have held only traditional retail.
That choice gave Avalon more room to adjust as dining and experience-based uses became a larger part of retail.
Early Results Show a Strong First Phase
From 2014 to 2016, Avalon's first phase filled quickly. Retail and office space were fully leased. The apartments were about 98% leased.
Retail sales averaged about $600 per square foot. Many tenants passed $1,000 per square foot.
The first-phase office space included two buildings above retail.
The space held 12 tenants, with an average tenant size of about 8,800 square feet. Annual office rents ran about $30 to $33 per square foot.
Those rents were about 35% above the Alpharetta market. Haven Luxury Apartment Homes formed part of the first phase with 250 units.
The average unit size was about 1,000 square feet. Typical monthly rent was about $2,200.
Apartment rents were about 40% above the closest competitor. The first for-sale homes included 24 detached single-family homes and 77 attached single-family homes.
Detached homes averaged about 4,100 square feet and were priced around $1.78 million per unit.
Attached homes averaged about 2,800 square feet and were priced around $749,000 per unit.
A $500 Million Sale Changes Avalon Ownership
PGIM Real Estate acquired Avalon's 1.1 million-square-foot first phase in July 2016 for about $500 million.
The sale included about 390,500 square feet of retail, 105,300 square feet of Class A office space, 250 luxury apartments, and a 3.3-acre office development parcel.
The first phase was already full on the retail and office side.
The apartment component was about 98% leased. North American Properties continued to manage, lease, and operate the property after the sale. Phase I was refinanced in 2015.
The refinancing included a $186 million Phase I term loan and a $67 million Phase II construction loan.
The hotel and conference center were prepared for groundbreaking in June 2016.
The planned hotel had 330 rooms and was tied to a larger meetings and events program. Retail rents in the early operating period ran about $35 to $55 per square foot annually.
The first phase generated an estimated $234.3 million in annual gross retail sales when 390,500 square feet is multiplied by the average $600 per square foot sales figure.
Phase II Adds Offices, Apartments, and Hotel Rooms
Phase II opened in April 2017.
The expansion added about 88,400 to 90,000 square feet of retail and restaurant space, about 550,000 square feet of Class A office space, and 276 luxury rental apartments.
The office program grew into a major part of Avalon.
Current office properties include 5000 and 6000 Avalon, with about 108,000 square feet of loft-style office space above retail.
The 8000 Avalon building has nine stories and about 224,000 square feet. The 10000 Avalon building has 10 stories and about 250,000 square feet.
The property at 2710 Old Milton Parkway has just over 39,000 square feet. Office tenants have included Microsoft, Wakefield Beasley & Associates, Tripwire, and Ashton Woods.
Microsoft leased about 43,000 square feet in the second phase. Wakefield Beasley occupied about 30,355 square feet. Tripwire occupied about 14,856 square feet.
Ashton Woods occupied about 13,490 square feet. The Hotel at Avalon and Alpharetta Conference Center opened on January 16, 2018.
The hotel has 330 rooms and suites. The conference center has about 44,000 square feet of flexible event space.
Public Spaces Keep Avalon Active Beyond Shopping
Regal Avalon operates as a 12-screen premium movie theater. The theater was first planned as a 16-screen cinema.
The plan changed to a 12-screen all-premium format with better seating and expanded food and beverage service.
Avalon's plazas and outdoor areas carry much of the property's daily life.
The property hosts concerts, seasonal events, family programs, holiday events, markets, outdoor fitness, charity events, and community gatherings.
The development has hosted more than 300 events in a year.
By its fifth anniversary in 2019, it had hosted more than 1,000 events and raised more than $500,000 for charitable causes.
Avalon also uses an open-container policy within the district.
The policy supports restaurants, events, and outdoor gathering areas. New entertainment improvements were planned in 2023.
The additions included a raised covered performance stage and an LED screen.
Construction was scheduled to begin in January 2024. The stage was planned at 576 square feet. The LED screen was planned at 180 square feet.
Avalon Enters 2026 With New Stores and Management
Jamestown completed its acquisition of North American Properties' Atlanta subsidiary and operating platform on October 30, 2024.
PGIM Real Estate remained Avalon's owner. Jamestown became the manager and leasing operator.
Avalon remains an 86-acre mixed-use district at 400 Avalon Boulevard, Alpharetta, Georgia.
The property includes more than 570,000 square feet of retail, dining, and entertainment space.
It also includes about 750,000 square feet of Class A office space, 637 residences, a 330-room hotel, a 44,000-square-foot convention center, and a 12-screen Regal Cinemas.
Avalon's current retail lineup includes major national brands such as Apple, Chanel, Crate & Barrel, lululemon, Nike, Sephora, Whole Foods Market, and Williams Sonoma, along with restaurants, services, and entertainment tenants.
In 2026, Johnnie-O, ALO Yoga, and Vuori joined the newest leasing activity.
Johnnie-O planned a 1,900-square-foot store. ALO Yoga planned a 4,000-square-foot store and its second Georgia location. Vuori planned a 4,800-square-foot store.
Notable Milestones
Mid-2000s - Prospect Park was planned as a mixed-use town-center project on the future Avalon site.
2008 - Prospect Park stalled during the real estate downturn after financing failed.
July 2011 - North American Properties acquired the former Prospect Park site.
October 2011 - The project was renamed Avalon.
March 2012 - Retail leasing began.
April 2012 - Alpharetta approved the two-phase mixed-use redevelopment plan.
January 28, 2013 - Groundbreaking took place.
August 2013 - Vertical construction began after financing was arranged.
October 30, 2014 - Avalon opened to the public with a four-day celebration.
November 2014 - The first apartments became available for occupancy.
July 2016 - PGIM Real Estate acquired Avalon's first phase for about $500 million.
April 2017 - Phase II opened with more retail, apartments, and office space.
January 16, 2018 - The Hotel at Avalon and Alpharetta Conference Center opened.
2019 - Avalon reached its fifth anniversary with about 4,500 jobs and more than 1,000 hosted events.
January 2024 - Construction was scheduled to begin on the new Plaza entertainment upgrades.
October 30, 2024 - Jamestown became Avalon's manager and leasing operator.
2026 - Johnnie-O, ALO Yoga, and Vuori joined Avalon's newest retail leasing activity.
