Commercial Real Estate
The Commercial real estate market is seeing an upswing. The seas are still rough but business owners and investors are taking advantage of the market while the getting is good. Prices and rental rates have not been this good in over 10 years. As unfortunate as it is owners across the board are struggling to pay their mortgage and keep space leased up. The foreclosures have slowed as the fed puts pressure on lenders to work with more and more owners to refinance debt on properties and create short term stop gaps rather than taking properties back.
Most activity today in the commercial sector of Atlanta is coming from 2 areas. Medical space is booming. The medical CRE (commercial real estate) activity has been 3 to 5 times more than any other type of real estate. Doctors, clinics, research and specialists have all been expanding. The other group that is seeing a lot of activity is small business. Typically these small businesses are opening in strip centers and getting amazing concession from landlords all across Atlanta. Its become common place to see free rent, TI (tenant improvements), extended periods of time with halved rent or special escalations.
My most recent activity has all been small businesses. I opened an International grocery in Marietta, a window treatment business in Alpharetta, a physical therapist's office in Atlanta and picked up a listing for a nice flex building in Mableton. If you're interested in the flex building look me up on Trulia and you will be able to find the listing.
There has been a strong interest in salons of all types, so much that I have created a data base of 2nd gen (2nd generation) salon space. I put together over 120+ properties that were formerly a hair, nail, tanning or massage/spa salon and have had great success marketing this niche service to the salon owner community. When times are tough and money it tight how perfect is it to find a space for your business that already has the proper set up and in some cases already has the equipment in place.
Things are picking up, interest rates are wiggling around which to me is a sign that inflation is coming and as a result the price of goods & services along with everything is going to go up. If you are thinking about leasing some space, buying a building or investing in real estate now is really the time to do it. At a minimum its time to test the waters and see what you can get. Feel free to call me to discuss any aspect of real estate.
You've got to do what you love, and I love what I do.