Atlanta Intown July 2021 – Key Takeaways
- Everyone is super busy; having record years; lot of activity, closings, and big deals. (Multiple)
- Need: Looking for an apartment developer for land in Covington. (Stephanie Friese – Chamberlain, Hrdlicka)
- 1031 exchange volume is off the charts. 123 exchanges in May 2021 v. 45 in May 2019. Averaging high 80s – low 90s in number of transactions. (Atlanta Deferred Exchange)
- Starting to see residential soften and anticipate seeing that on the commercial side in the next 9-12 months. (Atlanta Deferred Exchange)
- Website to send info to your legislators re: 1031 exchanges is: https://fea1031buildsa.wpengine.com/take-action
- Savannah market is still going strong on all fronts. According to CoStar, industrial showing 3% vacancy rate; retail showing 5% vacancy rate. Hospital is coming back. (Colliers Savannah)
- Self-storage is still going strong and is a great investment, particularly if you’re in the right growth path. Self-storage unit that opened in April is already 75% leased in less than 4 months. (Commercial Realty Services of West Georgia)
- Recent price reduction on Neely Henry Lake properties in Alabama. (Commercial Realty Services of West Georgia)
- Originally predicted that people officing again would be 50% by July; actual number is 23%. (Atlanta Deferred Exchange)
- Starting to see lumber prices come down, but steel and land prices are still high. (Knight Commercial Real Estate)
- Industrial market is still very hot all over metro Atlanta and beyond. Seeing sub 4 cap rates on Class A brand new distribution centers. (Knight Commercial Real Estate)
- Needs: looking for small, light industrial building that we can renovate. Also looking for developers for a land listing in Henry County zoned mixed use/commercial. Have an investor looking for value add office space: 35 – 200k sq. feet – open to Savannah and Florida markets, as well as Atlanta. (Oakhurst Realty Partners)
- Need: Looking for industrial/surgical centers and value-add shopping centers. (ATL Commercial Real Estate)
- Recently involved in 3-4 negotiations for clients in the film industry – interesting topic. (ATL Commercial Real Estate)
- Stuart Brodsky with NYU gave an informational presentation on the growth and formalization of ESG (Environmental, Social, Governance) criteria and tools used by the professional asset management industry. RE developers and operators are increasingly encouraged to adopt ESG protocols. Real Estate can play a particular role in the “E”, environmental side, through energy efficiency: ENERGY STAR and Better Buildings.
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