Atlanta Perimeter March 2021 – Key Take-Aways
- Very busy and lots of activity for everyone; floodgates are open: retail restaurants; retail leases; 1031 exchanges; offices, industrial, development, construction etc.
- Very busy on the “buy” side; people are trying to sell, but are a bit ambitious on the price side. (Menden Freiman)
- Seeing an uptick in tours and inquiries from institutional owners on the office leasing side (CBRE). Lots of interest in Atlanta – major corporations have earmarked ATL as a growth market because of lifestyle, diversity, talent.
- CBRE Team Portfolio – 60 deals in 2020 which was 30-40% down, but 75% have been renewals and the terms were within market.
- Not expecting any negative impact to 1031 exchanges during Biden Administration.
- Atlanta has finally made it to the upper tier of US Cities which should be great for CRE.
- Did hard money loan to a self-employed investor for a church converted into an Event Venue on Donald Lee Holloway. (Atlanta Leasing & Investment)
- Looking for 1-2 acre sites for an affordable housing developer in Decatur, City of Atlanta. (Atlanta Leasing & Investment)
- Have done more business this year than did all of last year (BA Barrett Construction)
- Construction costs continue to go up; sub-contractors have more work than they can handle, so easy for them to walk away from jobs. (BA Barrett Construction)
- Working on tenant v. buyer side right now because the price/sq.ft. on the sale side is escalating (McWhirter Realty Partners)
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