Luxury jewelry designer returning a portion of its space to Phipps Plaza.

Tiffany & Co. has plans to reduce its footprint in Phipps Plaza.

Simon Properties, the Buckhead mall’s developer, submitted a building permit application to City of Atlanta Tuesday to reclaim 100-square-feet of the jewelry designer’s space.

An estimated $150,000 will be spent renovating the Tiffany & Co. retail store and “returning” the square footage to the landlord.

Tiffany was not immediately available for comment.

Developing…