Gwinnett County Taps CBRE To Help It Transform The Dead Mall At Its Heart

Posted on: March 18, 2024

Source: Bisnow; Author: Ethan Rothstein


Gwinnett Place Mall in suburban Atlanta was one of the sites where Stranger Things’ third season was filmed. Four years after Gwinnett County bought a large chunk of Gwinnett Place Mall with the aim of kick-starting its redevelopment, the county has selected a partner to shepherd it through the process.

CBRE will partner with the county to advance the redevelopment of Gwinnett Place, helping to guide a project that would see the majority of the 562K SF enclosed mall torn down and replaced with thousands of new residential units.
“I am excited to be a part of the transformation of this place that I have called home for over 35 years,” CBRE Vice President and head of its East Coast Korea Desk Jae Kim said in a statement Tuesday announcing the deal. “Building on Gwinnett County’s work to date and commitment to this transformational project, CBRE is proud to join the County to deliver a revitalized, vibrant, and inclusive development for Gwinnett residents.”

Since the county acquired the inline stores, food court and the former Belk anchor for $23M in 2020, it has gathered feedback from the community and developed a plan, called the Global Villages concept, for the future of the property and the 39 acres that surround it. The plan calls for the development of as many as 3,800 new residential units, 50K SF of office space, 55K SF of new retail, a 50K SF cultural center and nearly 13 acres of parkland.

CBRE will be tasked with coordinating between the county and the owners of the Macy’s, Beauty Master and Mega Mart anchors, as well as Northwood Ravinthe owner of the closed Sears store, which has its own plan for an apartment tower, the Gwinnett Daily Post reported.
The next steps for CBRE will be to work with the county to “refine plans and optimize the opportunity for a transformative project,” according to a release. After that process is complete, the county will then seek a development partner.
Kim is based in Atlanta but is the head of CBRE’s Korea desk. It is unclear what role that team will play in the redevelopment plans, but Gwinnett is home to a large Korean-American population, which the county has embraced in the past with a Seoul of the South tourism campaign. A CBRE spokesperson didn’t respond to Bisnow‘s request for comment.

“Gwinnett Place area commercial property owners, businesses, and residents are grateful to the County for its staunch commitment to that vision for the mall property,” Gwinnett Place Community Improvement District Executive Director Joe Allen said in a statement. “Bringing a respected global company like CBRE to the table is a tangible example of that support.”

Read the full article here.

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