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Atlanta, GA | 2016 Top #CRE Markets to Watch: Office

SVNIC’s 2016 Market Outlook Reports assess the current state of the national commercial real estate market, and identify micro-trends within specific geographic regions and industries for 2016. Today we are delving into the 2016 Top Office Markets to Watch. Not the largest or the most actively contested markets, the 2016 Office Markets to Watch are each at an important juncture that presents unique opportunities for investment. Together, they reflect the diversity of trends that is driving the economy and commercial real estate performance in markets across the country.

Top Office Market to Watch: Atlanta, GA

Screen Shot 2016-07-26 at 4.09.42 PMAtlanta has experienced strong gains in total employment and is setting record highs as of January ‘16, according to the Bureau of Labor Statistics, with unemployment at 5.2% and new job creation at an annualized rate of 3.5%. This includes growth in key office-using sectors including Professional and Business Services, Financial Activities, and Education and Health Services, which grew at annualized rates 5.0%, 2.0%, and 1.8%, respectively. In addition, Construction employment is growing at a 7.4% annualized rate, indicating further overall economic growth is projected to occur in Atlanta in 2016 and beyond. According to Georgia Trend, many high impact industries are likely to accelerate growth in Atlanta including life sciences and technology. These forces should cause rising rental rates and falling vacancies in the metro region, with downtown/midtown potentially poised to gain in the overall trend of urbanization affecting cities such as Atlanta.

Stay Updated…

Over the next few weeks, the SVN Blog will be featuring posts that will focus on each of the top markets to watch for industrial, multifamily, office, and retail properties. SVN Advisors from selected top markets have provided their industry expertise regarding what to look out for in their specific market in the coming months. Don’t miss out on these important insights – subscribe to the SVN Blog on the right side of the blog homepage.

To read more on other top office markets, download the full version of the 2016 Office Market Outlook report here.

2016 Office Market Outlook

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Atlanta, GA | 2015 Top #CRE Markets to Watch: Multifamily

Sperry Van Ness International Corporation’s (SVNIC) 2015 Market Update Reports assess the current state of the national commercial real estate market, and identify micro-trends within specific geographic regions and industries for 2015. Today we are delving into the 2015 Top Multifamily Markets to Watch. Not the largest or the most actively contested markets, the 2015 Multifamily Markets to Watch are each at an important juncture that presents unique opportunities for investment. Together, they reflect the diversity of trends that is driving the economy and commercial real estate performance in markets across the country.

Top Multifamily Market to Watch: Atlanta, GA

Atlanta: 2015 Multifamily Markets to WatchAfter several years of lagging economic growth, Atlanta proved itself a late bloomer in 2014. Jobs are key to apartment demand and Atlanta is coming into its own. The metro area is generating jobs again, pushing total employment higher by 2.4% in 2014. Illinois-based insurer State Farm announced it would add 3,000 jobs in its national operations center, currently under construction in the northern suburb of Dunwoody. Medical cloud-based services provider, athenahealth, is building out a new 75,000-square-foot loft office space in Atlanta’s Old Fifth Ward neighborhood, and is reportedly looking to add 600 new positions in 2015. To the north, in Alpharetta and Cumming, where the apartment vacancy rate has slipped below 3.0%, financial services technology provider Fiserv is consolidating its 2,000 Atlanta-area employees into a new $41 million campus, and looking to add 500 additional jobs over the next five years.

Like Atlanta’s broader economy and labor market, the apartment sector is also earlier in its current expansion than other metro areas, offering selective opportunities for investors concerned about buying into a mature cycle. Effective rents increased by more than 7% in 2014 and overall vacancy dropped to 6.2%, from 6.7% in 2013. The affluent neighborhood of Buckhead has the lowest vacancy rate, estimated at 3.0%. These trends are not sustainable over the long-run, particularly as renters’ wage and salary growth rates are lower than rent increases, but it will be a soft landing for the best properties as income growth moderates.

As new construction brings an additional 6,500 units online in 2015, rent growth is expected to slow in Atlanta’s core neighborhoods. Atlanta’s apartment market also faces competition from substitution into its highly affordable housing market. According to the National Association of Realtors, qualifying income for a single-family home with 10% down is less than $33,000, compared to $43,500 nationally.

To read more on Atlanta and other top multifamily markets, download the full version of the 2015 Multifamily Market Update report here.

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It’s a different world out there.

It requires a different kind of commercial real estate firm working on your behalf in order to be successful. The Lipsey Company has ranked the Sperry Van Ness® organization as one of the most recognized commercial real estate brands in the US for a reason—we know how to deliver a certainty of execution for our clients. Sperry Van Ness International Corporation is one of the largest commercial real estate franchisors with more than 180 locations in 200 markets.

New Franchise Focus: Sperry Van Ness/KD Lanclos & Associates LLC

Damien Lanclos, Managing Director of Sperry Van Ness/KD Lanclos & Associates, LLC
Damien Lanclos, Managing Director of Sperry Van Ness/KD Lanclos & Associates, LLC

Sperry Van Ness International Corporation is proud to announce the addition of Sperry Van Ness/KD Lanclos & Associates, LLC in Augusta, Ga. Led by Managing Director Damien Lanclos, the organization specializes in the sale and leasing of a diverse range of product types including office, retail, land, and multifamily properties in both Georgia and South Carolina.

After many years in the pharmaceutical industry, Lanclos first entered the commercial real estate industry with the Sperry Van Ness organization in 2007, as an advisor based in Sarasota, Fla. In his first year with SVN, he closed several large deals, including a more than 18,000 square foot retail transaction at $2.85 million. He opened his current Sperry Van Ness office in his native Augusta, Ga. in 2013. Lanclos credits the innovative marketing tools and Monday Morning National Sales Call program with helping him to quickly advance his business.

Says Lanclos, “I was recently able to bring in multiple offers on a $5.9 million multifamily listing, thanks in part to the SVN tools that have allowed me to broadcast all of my properties to a national audience.”

Lanclos’ office assists clients in the second largest market services area in the state of Georgia. In line with the findings of SVNIC’s Top Markets to Watch Report for 2013, Lanclos says he’s seen a strong demand for multifamily investments, due to a rise in occupancy and rent gains.

Lanclos was recently accepted into the 2013 class of Leadership Columbia County, a program of the Columbia County Chamber of Commerce. The 10-month membership exposes business and community leaders to the opportunities and challenges facing the area, including economic development.

Lanclos received his Bachelor of Arts degree in English from the University of Georgia and holds real estate licenses in Georgia, South Carolina, and Florida.

 

Damien Lanclos

Sperry Van Ness/KD Lanclos & Associates, LLC

Augusta, GA

 

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*All Sperry Van Ness® offices are independently owned and operated.