Selig is modernizing Atlanta shopping centers. Here’s why.

March 6, 2023 Atlanta Business Chronicle

In the late 1990s, as Buckhead’s skyline filled out with new high-rises, The Sembler Co. saw an opportunity for suburban-style retail space in the fast-growing commercial district.

But there wasn’t room for big-box stores with surface parking. So, the real estate firm created Lenox Marketplace by filling a block with street-fronting buildings wrapped around a multi-level parking deck. It was built as a “vertical shopping center,” offering enough space for three anchor tenants and ample parking.

Now, the retail landscape is changing. The ease of online shopping and other consumer habits are pushing landlords to focus on creating a sense of place. In desirable locations, they’re crafting improvement plans for car-centric properties.

Selig Enterprises bought Lenox Marketplace a few years ago and now hopes to boost sales by enhancing the street-level experience. The Atlanta-based developer is replacing empty storefronts with a 30-foot paseo, redesigning façades and improving sidewalks. It is renaming the center The Blocks at Phipps and expects to wrap up the renovations by this fall, said Shirley Gouffon, senior vice president at the firm.

Atlanta Business Chronicle caught up with Gouffon to learn more about the thesis behind The Block at Phipps.

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