Atlanta Perimeter May 2021 – Key Take-Aways
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• The Georgia Ports Authority is a quasi-state authority. With $550-560 million in revenues, it re-invests its profits into the Authority. Currently have zero debt and plan to accelerate growth plans.
• 90% of revenue comes from Garden City Terminal, which is the single largest container terminal in the Western Hemisphere.
• The Port of Savannah is the third and fastest growing container gateway in the United States.
• Inland ports are planned in Hall County (within the next two years) and eventually in West Georgia.
• Strong relationship with the Georgia DOT is key. Four ways to get from Savannah terminals to I-16 and I-95, keeping trucks out of the city and on to highways quickly.
• Ports have brought great investment and economic development to Savannah and Georgia.
• Activity is strong and extremely busy in most sectors; industrial and multi-family are still off the chain. (multiple).
• Have more deals in contract and with LOIs than seen in the past 3 years. (MendenFreiman).
• People have money to spend and loans are getting approved. (ATL Commercial RE).
• Medical building activity is strong in West Georgia with Tanner Health. (Commercial Realty Services of West Georgia).
• There are more buyers/tenants than product available. (multiple).
• Development has been really tough. Construction costs are skyrocketing: PVC, lumber, steel prices are all up, which makes it tough to make a deal work on paper. (Knight Commercial Real Estate).
• Looking for industrial land within a mile of the I-75 or I-85 corridor and continuing to look for retail sites. (Knight Commercial Real Estate)
• Lot of leasing on the industrial side, but running out of product. (McWhirter Realty)
• As a broker, it’s very difficult to find space or a building to buy for a client. (McWhirter Realty).
• Starting to see some activity on the single tenant/flex office space. (McWhirter Realty).
• Market for land is still strong; just not enough sites out there. (William B. Hare Company).
• Ask: looking for a ghost kitchen in NW part of town; looking for land for small industrial building in Chamblee/Norcross area. (Slutzky Realty Group).
• Seeing more property transactions and construction inspections for banks; commercial real estate transactions involving the SBA and restaurants. Are seeing a slowdown on remediation and clean up work. (AKT Peerless).
• If you have clients who qualify for SBA loans, it’s a great time to do one. (Knight Commercial Real Estate)
• With construction costs rising, we consult our clients to go ahead and pull the trigger now; with low interest rates its better to go ahead and place orders so that they arrive by time needed for project. (Dewitt/Tilton Construction Company).
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