- Property is being traded and prices seem high, which is good for sellers.?Leasing activity has increased:?seeing a variety of lease work with interesting uses.?(MendenFreiman)
- Seeing more litigation than ever before: business partner disputes, people not happy with their cut of a deal.?When people are suing that typically indicates some sort of a shift.?(MendenFreiman)
- Industrial is still hot.?Did a deal for over $9/foot that would have been $5/foot not too long ago.?(Slutzky Realty Group)
- Hard to get long-term lease deals any more; what used to be 5-10 year deals are now 3-5 years.?(Slutzky Realty Group)
- Marketing for a deal is on a much shorter timeframe, too.?Wait until 90 days to start marketing because of the pricing fluctuations.?(Slutzky Realty Group)
- Property management for single family homes is exploding; retail is picking up.?(Slutzky Realty Group)
- Community oriented financial institutions (credit unions) working with the shift from their strong belief in human interaction banking to mobile/technology-driven banking.?Integrated Teller Machine offer a new technology where you can do all of your banking via a video screen. (Novus Architects, Inc.)
- Construction costs are extremely high ($1000/sq. foot).?A 700 square foot addition to an existing bank costs over $1million.?(Novus Architects, Inc.)
- East Point is getting “hot”, but difficult to work with the city. (ATL Commercial Real Estate, Inc.)
- Cities further out (Mableton and Palmetto) are adopting similar restrictions as cities closer in.?They don’t want the HVAC/Plumber/Automotive warehouses in their neighborhoods.?Pushing these businesses further and further out with these restrictions (ATL Commercial Real Estate, Inc.)
- Hot markets right now for cost segregation are: residential, multi-family and self-storage.?In last year we’ve seen approximately 2000 properties; not sure when it’s going to slow down or plateau.?(McGuire Sponsel)
- Currently with cost segregation you can take a bonus depreciation on 100% of the property, which then goes down by 20% each year.?When there’s a change in ownership, the cycle starts over. (McGuire Sponsel)
- 45L tax credits are key for residential.?If you are working with homebuilders who are building subdivisions/model homes across the country, you can get a $2000 tax credit/per unit over a 4 year period (McGuire Sponsel)
- Lot of sale/lease-backs in industrial, self-storage, medical office in Charlotte area (Hughes Realty Advisors)
- US EPA will approve and adopt the Phase I environmental assessment in the coming month. (AKT Peerless)
- PFAS are the new thing in the environmental world.?They are emerging contaminants that are in almost everything, also known as forever chemicals, because they are hard to break down.?US EPA is slow to adopt regulations on these.?Some states (NC, Michigan) are adopting their own regulations in lieu of any federal regulations.?Georgia will wait to adopt regulations when issued by US EPA. (AKT Peerless)
- Working on 20 projects in Texas and Arizona for the past two months.?Seems to be a hot spot for real estate right now. (AKT Peerless)
- Office and retail leasing activity has increased and strengthened since the beginning of this year.?Developer clients with mixed use developments and general office leasing (Oakhurst Realty)
- Key points from Buckhead CID presentation:
- The purpose of the Buckhead Community Improvement District was founded 22 years ago and they are more active today than they have ever been in 22 year history.
- Purpose of the Buckhead CID is to make Buckhead more walkable.??Six projects that are currently in the works.?
- Lenox Road Phase I is building a multi-modal pathway from East Paces Ferry Road and the Lenox MARTA Station to Peachtree.?Federally funded project to be completed in Fall of 2023.
- Wieuca Road and Phipps Boulevard:?redesign that interchange with a roundabout, which will be the first in the City of Atlanta.?Project will be complete in summer of 2023.
- Peachtree Road from Maple to Shadowlawn project starts next week: improving sidewalks, walkability in this area.
- Piedmont Road and Peachtree:?widening roads and creating multi-modal trail that will connect with PATH 400.?Shopping center where Disco Kroger is will be redesigned.?Disco Kroger will be torn down and a new Publix will go closer to the road.?This project will start construction by the end of the year and will be complete by the end of 2024.
- West Village: sidewalks are dangerous or non-existent; bad roads; area will be completely redesigned and storm water issues will be resolved.
- Lenox Road Phase III – near the 400 interchange will make that whole area walkable.?The engineering and design work has been funded with $4 millions of federal funds; looking to double that and move forward.?It will be compatible with HUB404 (HUB404.org).
- Lenox Road Phase II needs TSplost and bond approval in the May election to move forward and will be handled by the City of Atlanta.?
