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May 3, 2021

Uncertainty Among Small Companies Plaguing Atlanta's Office Market

[In-Person] Cousins Properties' Kennedy Hicks talks Atlanta CRE finance & investment June 29

Roadie, a last-mile delivery platform, has had its headquarters in a 7K SF Buckhead office since 2014, but when its lease expired Friday, rather than renew or relocate, the company made the decision that commercial landlords have been dreading since the pandemic set in: It decided it doesn't need an office, at least for now. 

Roadie CEO Marc Gorlin and the leadership team decided to keep the company's more than 100 employees working from home for the foreseeable future, a spokesperson confirmed to Bisnow.

“We're going to wait until we know a little more about what our needs are going to be like, what the world is going to be like,” spokesperson Heather Hughes said. “The world just seems so fluid right now, so we won't be moving in anywhere new.”

Uncertainty Among Small Companies Plaguing Atlanta's Office Market

Roadie is one of thousands of small and midsized companies wrestling with just how much office space they will need in a world where some portion of employees will likely be working from home at least part of the time. As the world emerges from the coronavirus pandemic, this leasing existential…

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Office Tours Spike 28% As CRE Gears Up For Labor Day Return To The Office

 

In major office markets across the country, potential tenants have been eyeing space more than at any time since the outbreak of the coronavirus pandemic over a year ago.

Office demand in major U.S. markets jumped by 28% from February to March, according to a monthly report by VTS, a software provider for commercial real estate landlords. VTS’ Office Demand Index increased by 160% in the first quarter and now sits at 86, 9% less than where the index was in February 2020, leading the report to conclude that “return to work appears imminent.”

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Los Angeles Group Buys Massive Atlanta Studio Complex For $120M

Los Angeles Group Buys Massive Atlanta Studio Complex For $120M  

The founder of Blackhall Studios has sold his massive Atlanta film and television production facility to California investors. Now, he is taking the proceeds and transitioning from hosting filmmakers to being one.

Los Angeles private equity firm Commonwealth Asset Management has purchased Blackhall Studios in Atlanta for $120M. The deal also includes a majority interest in properties in England and California where Commonwealth plans to spend $1B developing new studios, Commonwealth Chief Investment Officer Adam Fisher said. Blackhall CEO Ryan Millsap said he will continue…

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The Innovators: FlagshipRTL

While consumers turned to e-commerce at an unprecedented rate over the past year, Justin Abrams has been working to bring brick-and-mortar retail into a new era.

Abrams has a degree in cello, but the resident of Manhattan's Upper West Side spent the first several years of his professional life in marketing for energy drink company Red Bull. That experience gave him a different way of looking at retail's real estate problem.

As he walked through New York City, he saw storefronts, once the Big Apple's vibrancy, vacant for years. It didn't make sense to him, he said, and he thought there must be a way to fill these spaces. 

“When I was at Red Bull, our secret sauce for marketing was experiential marketing, which means winning the hearts and minds of consumers in person,” he said. “For most of the brands out there, physical retail is their in-person element, and so it made no sense to me why these spaces should be vacant. So we dug into the problem.”

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