Atlanta Chapter September Meeting!
Atlanta Region Commission – Ann Carpenter Speaker
- Atlanta is still a dynamic growing metro area
- Atlanta had the highest new residents between 2020-2025; 3rd largest in the country
- We are not seeing the same strength of growth that we had in the 80s and 90s.
- The talent pool is getting small, and we are competing for the same talent. US net international migration has started to slow down.
- Birth rates in Atlanta have been falling since 2008. Childcare, housing costs, and student loan debt are causing younger adults to opt out and slowing down having children.
- Demographic changes: The African American, Hispanic and other populations are growing.
- The Metro Atlanta population is also aging. 65 and older share of the population will more than double worldwide by 2100. Metro Atlanta will age faster than the nation, with 13% – 22% of our population over 65 by 2050.
- Job growth has slowed in Atlanta after robust post-pandemic gains.
- Private education and healthcare leads in job gains. Registered nurses are the region’s #1 posted job; #2 is software developers, but that’s losing ground. Atlanta is economic growth engine for state.
- Housing – home price appreciation has outpaced wages while median rents have moderated. Atlanta still has a high homeownership rate compared to other large metros.
- Key Trends – data center inventory continues to grow; transportation plan to include busy – micromobility – biking, connected trails; autonomous vehicles; public transportation; and advanced air mobility.
- We anticipate slower growth with an aging population which leads to conversation about mobility.
Roundtable
It’s been very busy with several merger & acquisition deals; we are actively closing one right now. One the real estate side of things – still have some raw land deals and have received a number of referrals from Mary Ann Black w/Firs America Title. We closed on a warehouse RE side – raw land deals; year-end in sight – referrals from Mary ANN Black from First America Title – closed on warehouse in Dalton and have another one upcoming, which is large retail center near Lawrenceville. Also still have a vending machine business looking for a location (Menden Freiman, LLP)
CRE Network has been doing a weekly survey that goes out to 37,000 people for the past 12 months; we get a response rate of 3,000 responses. The general consensus from these surveys from all markets is that there is capital available, but it’s incredibly slow. If the cash flow doesn’t support the deal – they are not willing to take unnecessary risks, due to the uncertainty of the economy and the current drivers of the economy. Georgia will probably be winding it down with data centers, b/c new ones will be going to regions where they have existing natural gas facility. Only the big players will be involved, and they will have their own power and cooling. (Real Professionals Network)
Still raising funds through the founder’s club for the Farm Resort in Bremen – have 5 commitments and looking for 2 more. Focusing on two good multi-sports complexes deals (Grayson Properties)
Projects are on hold in the capital raising fund for the bourbon deal, film and flag raising in the Panhandle (Deway Capital)
Currently managing 5 industrial properties and 2 retail. Provide management company services for four owners. We purchased a property in Lithonia – took a junkyard and are turning into multi-tenant space. Not much going in retail right now – mainly restaurants. Retail boring – pretty much restaurants. (Full Circle Realty)
In a bad economy there’s a bunch of mold. Staying busy with jobs in Buckhead ; senior living project. I just received my certificate for restoration to clean hospitals. If you know any claims adjusters, please send them my way. We are one of the top 5 SERVPROs in the country. (SERVPRO)
Have seen a small uptick in roofing requests from general contractors; looking to partner with a group that’s building a data center in South Georgia (FGA Roofing)
Using AI vs. an attorney to review agreements/contracts makes getting a deal done take forever. Every change has to run back through AI and the biggest culprit is the client then gets lazy and missing things, by strictly relying on AI. Looking for acquisitions in development – all industrial; also looking for land for industrial development. (Brennan Investment Group)
Summer has been very busy and looks like 4th quarter will be, too. Helped a doctor do 1031 exchange; have a building in Chamblee with a LOI; also have building under contract in Stockbridge and there’s an acre next to it, fully developed, with parking for $600k. Have 2 buildings in Doraville that should close next week. Do have a property in Griffin, GA for sale – that I’m having a hard time selling – have dropped price twice – now down to $239k. (ATL Commercial Real Estate, Inc.)
We just finished up a security project on a construction site in Midtown; have been spending time training new staff. We are also trying to get some security contracts with data centers and want to add MF – we have 9 proposals out now. Physical security is the best deterrent, but we are also looking at adding cameras for monitoring. (Pritchard Global Alliance).
We got an offer for asking price on the 88 acres listed in South Fulton. Have also picked up an industrial property and have some deals in Henry County and one in Clayton that we’re wrapping up. (Ackerman & Co)
Dancing around an offer on Roswell Road condominium project; seeing some good activity from developers – a condo conversion right on/adjacent to beltline in Buckhead, a deal in Dekalb County with rocky topography and a couple of fire stations bringing to market in Clayton County. Buyers are spending money before they get to the deal to say we’re interested. (Massell Commercial Real Estate).
Closed on a couple of deals in NW Georgia; have a building under contract in Carrollton. Have 3 acres zoned commercial that I’d like to find some interest in and I have just under 30 acres zoned industrial north of Carrollton – rail on backside; and a 3.7 acre track in Bremen with industrial – build to suit. Zoned and ready to go. (Sauls Commercial Real Estate)
We are a regional community bank with branches in 3 states and 8 markets across GA, NC and SC. Clients are predominantly business owners and entrepreneurs. Seeing renegotiated contracts in real estate for better pricing; also more people are going with fixed rates where as previously we were seeing more requests for variable rates. (Southern First Bank)
Have over 20 years’ experience with a focus on tenant improvement and capital projects and I am looking for my next opportunity. Seeing more turnkey deals and capital improvements remain strong; tenant amenities, such as nice conference centers, café’s, seating areas are on rise in office buildings; also seeing offices contracting with more cubicles and workstations vs. actual office. Construction pricing and supply chain lead times are starting to level off some. (Melissa Cushma)
Getting into the real estate market – we work with clients on tax credits, research and development credits, cost segregation, etc. (Specialty Tax Group)
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