3/25/21 Atlanta Intown Mastermind Group Meeting

Atlanta Intown March 2021 – Key Takeaways

• Costs are extremely high for steel, lumber and other construction items; delivery time has also extended.
• Three big firms investing in office in Atlanta: Google, Microsoft and Invesco, all in Midtown. Build out is not cubicles, as in past, but more flexible, collaborative space (layout like a hotel lobby). COVID amenities: touchless/contactless is now part of base buildout. (Whiting Turner)
• Industrial development and leasing is still going strong. Fulton Industrial space selling for $50/sq. ft. (McWhirter Realty)
• Office sales and leasing are still happening, but not as it was pre-pandemic.
• Explanation for growth in Atlanta and major corporations moving here:
o diverse economy
o airport
o exposure to other larger corporations with headquarters here (Home Depot, Coca-Cola, Delta, etc.).
o major colleges and universities and the number of HBCUs provide good talent, cheaper labor.