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THESECRET
SAUCEWhy Retail and Mixed-Use Projects 

Need Local Chefs
There is an
ESSENTIAL
INGREDIENT
to developing successful retail
properties of the future.
WEWARNYOU.
It can be expensive, hard to get
and difficult to work with.
But none of that matters.
New-class
CONSUMERS
craveit...
Top-rated
TENANTS
demand it...
And
PROPERTIES
without it won’t have
quite the right flavor…
CHEF-DRIVEN
RESTAURANTS
Remember the days
when retail tenants
complained about
restaurants hogging
the parking lot?
There was a time when chain
restaurants were all the rage.
But today, the tables are turned.
$11.8 million
decrease in revenue
3Q14
3Q13
3Q14
3Q13
3.4%
decline in sales
3Q14
3Q13
8.7%
decline in sales
WHAT
CHANGED?
A new class of 

consumers emerged.
They want good food
They want good food, local chefs
They want good food, local chefs
and unique experiences.
6OF10CONSUMERS
More likely to choose dining location based
on locally sourced items on the menu
54%
of people consider
themselves foodies
nom
nom
nom
54%
of people consider
themselves foodies
Gone are the days
when food was
meant to be eaten
and forgotten.
WEWATCHIT.
1.7MILLIONtuned into Top Chef season 11 finale
WEBLOG
ABOUTIT.
WEPINIT.
FOODANDDRINK
Most popular category on Pinterest
among both men and women
WE#HASHTAGIT.
7.6
MILLION
#FOODIE POSTS
on Instagram
Not only do we care 

about what is being 

served, we care about
WHO
it is being served by.
We live in a world
where words like
“celebrity” and “rockstar” 

are used to describe
CHEFS.
POP
QUIZ!
Who brings home the most bacon?
GORDON
RAMSAY JUSTIN 

BIEBER
TOM 

BRADY LIAM

NEESON
$18M
$27.1M
$32M
$38M MASTER CHEF
GORDON
RAMSAY
Retail developers and
operators must woo
the Gordon Ramsays
and Mario Batalis of
their communities.
But these deals aren’t easy.
Local chefs often lack the
financial backing to build out

their own restaurants, unlike 

bigger chains.
They are
RISKY.
30%of new restaurants fail
within the first year
30%close within the

next two years
Of those that

survive, another
WOOTHEM
ANYWAY.
Chef-driven restaurants
provide immediate
personality and credibility 

as a destination for shopping
and dining in lieu of other,
historical venues in the
market. They are a critical
element in establishing an
identity in the marketplace
for consumers.
Dick O’Connell
NewGate Retail Advisors
When North American 

Properties began developing
Avalon in Alpharetta, Georgia,
managing partner Mark Toro
knew he needed the hottest 

chef-driven restaurants.
It’s time for a paradigm shift 

in how we think about retail
development. Call it Retail
3.0 or experiential retail.
Strip centers and malls are
out. Mixed-use, vertically
integrated communities 

are in. Gen Y wants an
environment that is urban,
walkable and connected. 

Gen Y wants a great
experience, and landing
local chef-driven restaurants
is an important component
to creating that experience.
Mark Toro
North American Properties
Managing Partner
So, inquiring minds want to know… 

how exactly did he land those
STARCHEFS?
By sharing the vision for
FIVE-STAR
HOSPITALITY
FIVE-STAR
HOSPITALITY
TOP 

RETAILERS
FIVE-STAR
HOSPITALITY
PROGRAMMED
PUBLIC SPACES
TOP 

RETAILERS
FIVE-STAR
HOSPITALITY
PROGRAMMED
PUBLIC SPACES
WALKABILITY
TOP 

RETAILERS
FIVE-STAR
HOSPITALITY
PROGRAMMED
PUBLIC SPACES
WALKABILITY
TOP 

RETAILERS
24/7
ENERGY
FIVE-STAR
HOSPITALITY
PROGRAMMED
PUBLIC SPACESCHEF-DRIVEN
RESTAURANTS
WALKABILITY
TOP 

RETAILERS
24/7
ENERGY
FIVE-STAR
HOSPITALITY
PROGRAMMED
PUBLIC SPACESCHEF-DRIVEN
RESTAURANTS
WALKABILITY
TOP 

RETAILERSA PLACE 

PEOPLE WANT 

TO BE
24/7
ENERGY
AN EXPERIENCE
LIKE NO OTHER
The strategy started to work.
CHEFSSIGNEDON.
I have an audience 

of people in this
community who have
followed me. Moving
to a development like
this, where you have
a movie theater and 

a Whole Foods, is
exciting to me. It’s
like a one-stop 

in-town experience.
Shaun Doty
Bantam + Biddy
Co-Owner and Executive Chef
Then, more chefs joined…
I’m a big believer in local
talent, local business
operators, local chefs who
run their own restaurants. 

I told Mark [Toro] that I
would do it but that they
had to get the right people
out here… and the people
they got are just amazing.
Ford Fry
The El Felix
Chef and Owner
Resulting in six of the 

Southeast’s top chefs choosing
FORDFRY
JAMESBEARDAWARD
SEMIFINALIST
RESTAURANTOFTHEYEAR
-ESQUIREMAGAZINE
BEST PIZZA I’VE
EVER HAD. TRUE
NEAPOLITAN.
HUGH ACHESON,

TOP CHEF JUDGE
#4
ATLANTA’S MOST
ICONIC DISHES
FEEDING
REALPEOPLE
EALFOOD
Ford Fry
Giovanni Di Palma

!
Steve Palmer
Shaun Doty
Brian Lewis
Ciaran Duffy
The El Felix
Antico Pizza Napolitano 

& Caffè Gio
The Oak Steakhouse
Bantam + Biddy
Bocado Burger Bar
Bantu
BESTPIZZAIN23U.S.
CITIES-ZAGAT
STEVEPALMER
JAMESBEARDAWARD
SEMIFINALIST
It has not gone unnoticed...
WHEN AVALON OPENS IT WILL BE THE SOUTHEAST’S
PREEMINENT EXPERIENTIAL DEVELOPMENT.
– NORTHFULTON.COM
SEVERAL IN-TOWN RESTAURANTS ARE MOVING 

OUTSIDE THE PERIMETER FOR THE FIRST

TIME WITH AVALON.
– 11ALIVE
Avalon lands more retailers– Atlanta Business Chronicle
Bantu to open in
Alpharetta in October
– Atlanta Magazine
EMPIRE BUILDER 

OF THE YEAR, 

FORD FRY, REVEALS
DETAILS ON HIS
FIRST SUBURBAN
RESTAURANT
COMING THIS FALL
TO ALPHARETTA
SWANKY MIX-USE
DEVELOPMENT
AVALON.
Avalon’s high social
media engagement
shows one thing:
PEOPLEARE
EXCITED.
RETWEETS 624
MENTIONS 3,375
REACH 17,839,780
PAGEIMPRESSIONS 1,176,479
POSTIMPRESSIONS 678,934
ENGAGEMENT 40,543
It’s not only the smart
developers that want 

chef-driven restaurants.
The biggest retail tenants
are demanding top
restaurants in their leases.
I had never seen the term “chef-driven
restaurants” in a lease until about two years 

ago. Now I am seeing co-tenancy clauses 

in upscale mixed-use communities in Ohio, 

California and Georgia. In some cases, 

retailers are going as far as naming the 

top local restaurateurs in the lease.
Peter Hartman
Partner, Hartman Simons
Leading Commercial Real Estate Law Firm
The new-class consumer 

expects great offerings like 

walkability, five-star service, 

a sense of community and…
DELICIOUS
FOOD.
CHEERS!
This SlideShare brought to you by
Feel free to share it with your 

friends or leave a comment, and let 

us know what you think!
DIDYOUENJOYTHIS
PRESENTATION?
Flickr / “Banana Republic” by Prayitno
Flickr / “The Grove in Los Angeles, from above,” 

by Eric E. Johnson
Shutterstock.com / Crowded Parking Lot
Flickr / “Ruby Tuesday” by Mike Mozart
Flickr / “Olive Garden” by Mike Mozart
Flickr / “Red Lobster” by Mike Mozart
Shutterstock.com / Seared Scallops 

Flickr / “The Optimist” by Peter Bond
Shutterstock.com / pcruciatti (Image ID: 150368063)
Flickr / “Everywoman's, 1955" by alsis35 (now at ipernity)
BravoTV / Top Chef S11E1
Shutterstock.com / Chef of the Future
FOX / Gordon Ramsay, Kitchen Nightmares

Getty Images / Justin Bieber by Ethan Mille

Flickr / “Tom Brady” by Keith Allison

Getty Images / Liam Neeson by Larry Busacca
Shutterstock.com / Piggy Bank
Shutterstock.com / Coffee Shop Blurred Background
Angie Mosier
Avalon
CREDITS
Slide 6
Slide 7 

Slide 9
Slide 10, 11, 12
Slide 13, 14
Slide 15, 16
Slide 19, 20, 21

Slide 23, 24
Slide 25
Slide 27
Slide 37, 38
Slide 39, 40





Slide 43
Slide 74
Slide 76
Slide 77

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The Secret Sauce: Why Retail and Mixed-Use Projects Need Local Chefs