Atlanta Perimeter January 2021 – Key Take-Aways

• E commerce is the biggest driving factor in all of real estate; sales are up 49% in one year’s time.  There are more industrial developers looking for deals.  Amazon closed on a 12 acre site at Pleasantdale and 85 – sold for $601,000/acre.  A landowner in South Fulton (Palmetto) sold 120,000 acres of raw land for $200,000 an acre (William B Hare Company)
• Working with a doctor client who is looking for 8 sites all over the state and an Opportunity Zone buyer looking for multi-family (ATL CRE).
• Office space leasing continues to be very slow
• First part of 2021 brought 7 new 1031 transactions.    Not sure what the pace will be for 2021, but it has been close to on track for past six months (Atlanta Deferred Exchange).  No good read yet on 1031s with the new Administration coming in.
• Emory has taken over half of Northlake Mall for clinic and offices; North Point Mall went back to the bank recently.
• Industrial and residential properties are still hot across all markets.  Hospitality and some traditional retail is in special servicing and will be given back over the coming months.