The numbers show why such development is at least being
discussed.The metro’s industrial vacancy rate dipped to 12.5 percent in the second quarter, down from 12.7 percent in the first quarter and 14.0 percent one year earlier, according to Cassidy Turley. The average asking rent also is headed in the right direction, increasing slightly from $3.47 per square foot in the first quarter to $3.49 in the second, Cassidy Turley says. Investment sales of industrial properties in metro Atlanta
have actually slowed recently, according to the most recent numbers from the Jones Lang LaSalle real estate services firm. For the first six months of 2013, the sales volume totaled $118.7million, the lowest first-half total since 2009. However, as a report by the firm notes, there’s reason to believe this is just a momentary lull, as national and international investors in search of higher yields are beginning to look at markets like Atlanta and Miami. Moving forward, the sector’s operating fundamentals only
figure to improve as the housing market continues to heat up and suppliers to the industry need more warehouse space. E-commerce should have a positive impact as well, as retail- ers seek more distribution space to fulfill their growing online orders.
THE CHANGING FACE OF RETAIL Like the office sector, Atlanta’s retail market was hit espe-
cially hard by the downturn, but like its counterpart, it is get- ting its sea legs back, especially in higher-end assets that cater to those with more disposable income. Marcus & Millichap, a real estate services firm, projects metro Atlanta’s overall va- cancy rate to drop to 14.1 percent — whichwould be its low- est mark since 2009 — by the end of the year. After dropping last year, the average asking rent will increase 1.7 percent to $12.77 per square foot by the start of 2014 as well, the firm projects. As Atlanta’s retail market continues to improve, Marcus &
Millichap also notes that investors are showing more interest in the area, especially in high-end centers, grocery-anchored assets and single-tenant, net-leased properties. Furthermore, across the nation and in Atlanta as well, re-
tailers are showing more interest in leasing space in mixed- use properties that also include office and residential space in a walkable environment. Examples of these kinds of proper- ties in metro Atlanta include Jamestown’s Ponce City Market in Midtown and North American Properties’ Avalon in Al - pharetta, both of which are slated to open in 2014. Even in a slowly improving sector, we can expect more ac- tivity when retailers are presented with unique opportunities.
www.garealtor.com
for finding a lender who also lends support.
PNC Mortgage
Experienced home lending professionals. A commitment to REALTORS®
.
Top producers demand the best from their lenders. That’s why we offer unparalleled levels of transparency and accessibility through our team of trusted mortgage loan officers. All to keep you and your customers informed at every step. Visit
pncmortgage.com/agentalliance to learn more and access our online tools, resources and webinars.
PNC is a registered service mark of The PNC Financial Services Group, Inc. (“PNC”). PNC Mortgage is a division of PNC Bank, National Association, a subsidiary of PNC. All loans
are provided by PNC Bank, National Association. This information is provided for business and professional uses only and is not to be provided to a consumer or the public. This information is provided to assist real estate professionals and is not an advertisement to extend consumer credit as defined by Section 226.2 of Regulation Z. Programs, interest rates, and fees are subject to change without notice. PMM-10124 ©2013 The PNC Financial Services Group, Inc. All rights reserved. PNC Bank, National Association. Member FDIC
GEORGIA REALTOR®
I 29
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39