Atlanta October 2022 – Key Takeaways
• No slowdown; things are very active; market is jumping; deals are getting done, even if they don’t make economic sense. (multiple)
• Mixed emotions, mixed bag in the market today. (multiple)
• Perception that office space should be “cheap” because so many people are working remotely. (Slutzky Realty Group)
• Industrial is still going strong, but expecting a slowdown in this segment. With high interest rates, some of the deals just don’t make sense. Nationwide, many contractors don’t have any work on their books for Q3 2023. (King Industrial Realty)
• Lending and financing market has not slowed down. (multiple)
• Residential side is definitely down – 70% down from where we were this time last year. People who want to buy will buy, though. (RS Johnson Legal, P.C.)
• Seeing more of a pause and “wait and see” attitude with current interest rates.(multiple)
• Seeing the market uptick to promote new products. (Tingen Creative)
• Expecting more pain in the market across all segments. Good time to put aside cash for some really good buying opportunities at the other side of this. (Newburger Andes)
• Every major national bank has stopped lending on commercial real estate for right now. Land in outlying areas (outside of ATL), financing is not happening. (Knight Commercial Real Estate)
• Starting to see some construction prices come down and the pipeline easing. (Knight Commercial Real Estate)
• Maceo Rogers with City of East Point Department of Economic Development
o When started with City in 2008, biggest problem was perception. My job to work with stakeholders and we are changing the narrative and telling our story.
o Benefits and resources that East Point has to offer
Location – near airport, all major expressways, access to all
State’s only Velodrome
Low unemployment rate
o Exciting things going on East Point
Brownfield remediation work with grants from EPA
Grants for urban agriculture – educating citizens on how to grow their own fruits and vegetables because East Point is considered a food desert. Programs that focus on Quality living, healthy living and lifestyle
City’s first manufacturing brewery will be opening soon: Kombucha manufacturer
Microsoft is opening a 250,000 square foot data center
Commons at East Point is a multifamily development with retail
New community center under construction
Beautifying the main street area, walkable, bike lanes, lights, landscaping, etc.
East Point is a favorite location for the film industry because of our Old City Hall, Old Auditorium and Old Library. Brought in $1 million in revenue from film industry in rental fees, parking fees, and rental furniture, equipment, etc.
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