An active metro Atlanta developer is cooking up big plans for a Central Perimeter shopping center property it feels has long been underused.

Atlanta-based The Ardent Companies announced today it has purchased Perimeter Pointe, a parking-lot-heavy corner property anchored by big-box retail where Mount Vernon Highway meets Abernathy Road. 

Previous listings indicate the site spans nearly 32 acres and counts more than 2,000 parking spaces today. It’s located just east of Ga. Highway 400, about a mile north of Interstate 285, and includes a direct onsite connection to MARTA’s Sandy Springs station. 

Overview of the Perimeter Pointe shopping center, which previous listings have pegged at north of 31 acres. Courtesy of The Ardent Companies

The news continues a big month for Ardent, which announced last week it has fully sold its holdings at Roswell’s East Village. That project had also been an underperforming shopping center until Ardent purchased it five years ago, rearranged retail offerings, and began building more than 400 apartments and townhomes on former parking lots. 

Ardent hasn’t finalized plans for 360,000-square-foot Perimeter Pointe, but indications are that parking lots there could also make way for residential development, as in Roswell. 

The goal calls for repositioning the drive-to center as a “vibrant mixed-use destination” that prioritizes walkability and accessibility, per the development firm. 

Tenants at Perimeter Pointe today include Dick’s Sporting Goods, Regal Cinemas, Office Depot, a Chick-fil-A, and LA Fitness, among other businesses. 

Courtesy of The Ardent Companies

Courtesy of The Ardent Companies

Ardent officials say their strategy calls for enhancing Perimeter Pointe’s tenant lineup by integrating residential buildings, alongside a lease-up of vacant space. Plans also call for “remerchandising the existing tenant mix,” per today’s announcement. 

More than 86,000 vehicle pass through the Perimeter Pointe intersection each day, according to Ardent’s tally.

“This is [a] fantastic piece of Atlanta real estate that has been underutilized for some time,” Scott Werbel, an Ardent partner, said in a prepared statement. “We see significant opportunity to refresh the tenant mix and add multifamily housing to the area, creating complementary uses that drive stronger utilization and long-term value. 

“Given the submarket's strong fundamentals and position as a premier corridor,” Werbel continued, “we're already seeing significant interest from both best-in-class retailers and multifamily developers. We look forward to sharing more details soon.” 

Proximity of the 1155 Mount Vernon Highway shopping center to Interstate 285 and other Central Perimeter landmarks. Google Maps

Elsewhere in Atlanta, Ardent’s work includes the 33,000-square-foot shopping node west of Midtown where 17th Street meets Northside Drive.  

The company also owns the street-level retail portion of 1010 Midtown, a 35-story condo tower on Peachtree Street, and has shaken up the tenant mix there over the years.  

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