4/14/21 Atlanta Perimeter Mastermind Group Meeting

Atlanta Perimeter April 2021 – Key Take-Aways

• Chris Eldridge, City Manager for the City of Doraville provided a comprehensive overview of current developments happening in the City.
• The Assembly which is located on the site of the closed GM plant was recently sold to Gray Media and Gipson Group. The first phase of the new site plan will include more studio buildings as well as residential units and a large civic space.
• The City has approved the rezoning of Buford Highway and New Peachtree Road corridors from commercial and industrial to mixed-use. The new zoning permit 6 stories and 50 units per acre and multifamily.
• Pipeline has picked up dramatically, 4 or 5 retail leases and a couple of acquisitions. Quick serve restaurant chain getting into the Atlanta market is ready to go under contract. A lot of activity and do not see it slowing down soon, people are looking for capital and loans. (Nathan John MendenFrieman)
• Ron Raitz with Atlanta Deferred Exchange said that they did 83 transactions in March, the highest March ever before was 35 and they are staying on that heavy pace. Confluence of high price of land and high price on all aspects of construction – not sure what that is going to lead to, but, ‘caution’ is probably a good word.
• College House is a new company/app that just launched here in Atlanta. It looks at student housing – leasing cycles, and leasing velocity year after year. A good resource if you’re in the college/student housing space. (Bailey Howard, Gallagher)
• Seeing an uptick in landlord/rep deals in office and retail leasing; having to push back closing dates due to loans moving slowly. (Oakhurst Realty Partners)
• Looking for development sites: 1.5 – 37 acres (Oakhurst Realty Partners)
• Leasing has definitely picked up for industrial and smaller offices, not large office space, though. (ATL Commercial Real Estate)
• Looking for a tenant representative and also have an attorney who is looking to add a Zoning Attorney to his practice (Rick Ferguson).
• Closing our second hard money loan for a property on Peachtree Street and in the last stages of a 10,000 sq. ft office lease renewal on Buford Highway. (Atlanta Leasing & Investment)
• Looking for development sites for affordable and workforce housing near MARTA stations. (Atlanta Leasing & Investment)
• Savannah is still going crazy – all areas. Multi-family leasing above retail in downtown area. SCAD has announced they will be back in person and the demand for land/product is driving prices up. (Colliers)
• Westside of Georgia is doing well; self-storage still very strong. 7 acres zoned for self-storage in Loganville that will be ready to go in June; and a 50k sq. ft. space in Dalton available for lease only. Also have a client looking for a building within 35 miles of downtown Atlanta – needs 35 foot ceilings to store equipment – buy or lease (Commercial Realty Services of West Georgia).
• Land business is booming and people are moving further and further out to get what they need. (William B. Hare Company)