Atlanta July 2022 – Key Takeaways
- Definitely an uptick in activity for the summer; almost too much to focus on for some; projects in due diligence and heading to contracts (various)
- With interest rates going up, expecting to see some deals fall out (Menden Freiman)
- Knowing your property (buyer and seller) is so important – READ your documents and make sure you have a good attorney (Full Circle Realty)
- EV Charging industry is really taking off: Invisible Urban Charging just sold 6000 charging units to Lincoln Property Company in Orlando. It’s expected that 5% of all car sales in the next 12 months will be electric vehicles. US car manufacturers have agreed to stop making combustion engines by 2035 (R Lackey)
- Due diligence, title searches are taking twice as long these days and read your title reports – they are routinely full of errors (Knight Commercial Real Estate)
- Starting to see some construction cost abatement; industrial rent rates continue to increase; Cap rates are moving higher because of interest rates and starting to see brokers losing sales because of interest rates. (Knight Commercial Real Estate)
- We’ve ramped up our acquisition game and can be aggressive with offers when offering all cash (Newburger Andes Real Estate Investments)
- Brokerage side has been very busy; seeing an uptick in office leasing, particularly small office space. Also retail/restaurants. Capital is definitely out there. (Oakhurst Realty Partners)
- Have had some success using Facebook Marketplace for listings; not so much with LinkedIn (ATL Commercial Real Estate)
- Seeing some costs of materials go down to about where they were 2-2.5 years ago (WaterBarriers)
- Big box retail is not dead (CoStar)
Georgia is about to be the center of the universe for EV manufacturers and battery manufacturers – should be good for industrial/warehouse space (CoStar)
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