News
PORT OF CALL: RECOVERY
January 31, 2011
| It takes just a little star power to deliver some bad news. And good news, too. Depending on which side of the recovery you're on: Port or starboard? | |
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| Former CNBC chief economist Marci Rossell (now a homeowner!) told a packed room at the Cobb Energy Performing Arts Centre last week that the US economic recovery will be ?uneven,? with port cities benefiting the most. Marci spoke at the joint CREW/Corenet Atlanta economic forecast luncheon. (We snapped CREW president Lori Kilberg and Marci just after her speech.) Marci predicts the economy will grow about 3% annually—with the unemployment rate nationally falling to 8%—but access to capitalhas been limited to multi-national firms involved in international trade, making the recovery not so robust for the service sector and landlocked cities. Marci also says it's only a matter of time before Congress will be forced to handle the national debt and make thepainful cuts necessary to curb spending. | |
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| We found Kutak Rock's Ruth Issac and Brown Realty Advisors'Chandler Brown, Cory Chapman (a new hire) and Bo Brown. Bo tells us he's been busy with lots of multifamily deals. Recently, Brown Realty brokered the sale of the 260-unit Oaks at Stonecrest to an investment group and the 152-until Sedona in Cobb County. Bo also says retail has been gaining traction: On the literal 11th hour of New Year's Eve (much to the chagrin of the closing attorneys) he brokered the sale of BellBrook Shopping Center in Sugarloaf for the Bank of North Georgia. |
