Atlanta Perimeter October 2021 – Key Take-Aways
- All aspects of the business are very busy and its getting worse as we get closer to end of year. Doing deals fast, all cash, very little diligence, just trying to close fast. The estate planning group actually has so much work coming in that they are having to turn work away. (Menden Freiman)
- Seeing some delays on the SBA side – people are having to do bridge loans to get to the SBA loan closing date. (all)
- Having some bigger clients ask for fee reductions (Slutzky Realty Group)
- Industrial is still hot. (several)
- Joe Allen with Gwinnett Place CID gave an excellent presentation Gwinnett Place Mall.
- Simon walked away from a $100 million note on the mall in 2009-2010 timeframe.
- Moonbeam Capital bought it for $13.5 million; later sold to Gwinnett County for $23 million.
- CID was formed and has been working on infrastructure improvements
- Roundabouts, new sidewalks, traffic flow and traffic signals, rebuilding bridge at Pleasant Hill and 85.
- Trash removal, graffiti and broken window clean up, landscape upgrades.
- Installing 63 flock cameras has drastically reduced crime in the area.
- The CID is doing strategy development and working with Gwinnett County on a 10 year phasing framework for re-development that will incorporate green spaces, walkability, transit improvements, various housing options, etc.
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