Atlanta June 2023 – Key Takeaways
• Summer has been busier than expected and currently have a couple of deals under contract: seller lease back and warehouse deal in Cobb County. Looking to close in August. Other transactions under LOI; steady stream of work (Menden Freiman)
• Three assets that we’ll be offering off market in July for 30 days: two shopping centers in Grayson; one in Peachtree Corners/Norcross area. (Full Circle Realty)
• 1031 exchange volume of work has stayed steady; happy to be a resource for you any time (Atlanta Deferred Exchange)\
• Looking for opportunities in industrial: acquisitions with vacancy, needing to be re-positioned or corporate restructure. Hard to determine where the industrial market is going right now (Brennan Investment Group)
• Have small investment sale, approx.. 4500 sq. ft building owned by a Benjamin Moore franchisee in Woodstock – have some ability to play around with lease. Also have Department of Corrections building that would be a good cornerstone for investment portfolio (Richard Bowers and Co.)
• Looking for 2nd generation restaurant with lounge, approximately 3500-5000 sq ft in City of Atlanta (Rushman Moore Commercial Real Estate)
• Development work in Pickens County/Jasper area to include three concepts: residential with pocket neighborhood/cottage courtyards; mixed use center, hoping to partner with a broker on who knows Woodstock/Canton area; putting up a boutique hotel in Jasper market (Terry Commercial Realty, LLC)
• Growing commercial side of J&J Security – technology has changed and security can benefit with car thefts, etc. (J&J Security)
• Handle residential and commercial appraisals from buy stage up through litigation and everything in between (Appraisals by Michael)
• Staying busy with video shoots of Multi Family developments nationwide; thirsty to shoot some iconic high rises in the Central Business District. (Capitol Photography & Video)
• Car brokers are required by state to have a physical office, so if you have a property that might not be desirable and you don’t want to renovate it, you might want to consider it for car broker offices. They don’t need much space, just mainly need an address, desk, office chair. (ATL Commercial Real Estate Inc.)
• Have someone who can help with new design for outside of building – give it a refresh (ATL Commercial Real Estate Inc.)
• Land sales have slowed, but amongst the people who are doing deals there is still a good bit of activity. MultiFamily has not slowed down at all and lending for Multi-Family appears to be pretty strong. (AD Commercial Real Estate)
• Happy to help with any marketing, collateral or design projects you have (Tingen Creative)
• Not seeing anyone drop rental rates yet; particularly in Cobb/Galleria are. Sublease market keeps growing (Slutzky Realty Group)
• Seeing market change dramatically from the cap rate perspective with cap rates in 6+ range. Deals are either all cash position or 1031 exchanges. We currently have $10 million under contract most of which Atlanta Deferred Exchange is helping us with. Don’t see this changing in the near future. Expecting blood bath in class A office soon. (Newburger Andes Real Estate Investments)
• Presentation on Chamblee/Doraville CID
o Relatively new CID looking to improve mobility in the area
o CIDs are a way for commercial property owners within an area to invest in the infrastructure.
o Chamblee/Doraville CID focused primarily on transportation infrastructure – making capital improvements so visitors/residents can connect via transportation.
o CID is putting early investment funds in various projects to attract additional funding from city, state and federal governments.
o Three main projects for Chamblee/Doraville CID are:
o Additional railroad crossing
o Improve gateway and intersection realignment at Peachtree Blvd, Peachtree Rd and N. Shallowford
o Pedestrian Enhancements on Peachtree Boulevard
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