Don't see images? Click Here SUBSCRIBE FOR FREE MANAGE EMAIL PREFERENCES
Bisnow - (Almost) Never Boring
October 11, 2023

As Leases Keep Shrinking, Atlanta Office Vacancy Breaks Great Recession Record

Learn More About The Developments That Are Reshaping The City's Urban Landscape On Oct. 26

It's been a dramatic fall from grace for Atlanta's office market.

A prolonged slowdown in office leasing activity has left the region’s 151.4M SF office footprint an all-time-record 23.7% vacant, surpassing the city's prior nadir of 23.6% set in the second quarter of 2011, according to CBRE.

Add in sublease space and space that companies have vacated while still under a lease, and CBRE reports more than 30% of Atlanta office stock was available at the end of the third quarter. And conditions are expected to worsen.

As Leases Keep Shrinking, Atlanta Office Vacancy Breaks Great Recession Record

"Minimal tenant movement on the positive side is anticipated in the coming quarters,” CBRE Associate Field Research Director Scott Amoson wrote in a report. Savills Vice Chairman David Rubenstein, a nearly 35-year veteran of the office…

Read the full story here.

  Share:  
 
Perforation

Top Stories on Bisnow.com

Real Estate Groups Say More Interest Rate Hikes Would Break Housing Industry Real Estate Groups Say More Interest Rate Hikes Would Break Housing Industry
Landlords Claim Target Is Using Crime To Deflect From Its Other Problems Landlords Claim Target Is Using Crime To Deflect From Its Other Problems
HSBC To Review Its Global Real Estate Footprint With An Eye Toward Cuts HSBC To Review Its Global Real Estate Footprint With An Eye Toward Cuts
Australia's Largest Pension Fund Feeling U.S. Office Market Distress Australia's Largest Pension Fund Feeling U.S. Office Market Distress
Perforation

Lender Finds Buyer For Sandy Springs Office Building After Foreclosure

Lender Finds Buyer For Sandy Springs Office Building After Foreclosure

A bank has shed a Sandy Springs office building it had seized from a borrower, a small but significant transaction in a distress cycle many investors say is just beginning.Ameris Bancorp sold 5009 Roswell Road, a 36K SF building that is mostly vacant, for $6.9M to an unidentified buyer, according to…

Read the full story here.

  Share:  

 
Perforation

‘Wait Until The Check Clears’: What Comes Next In Nightingale's Plan To Pay Back Investors

‘Wait Until The Check Clears’: What Comes Next In Nightingale's Plan To Pay Back Investors  

Investors who are collectively owed tens of millions of dollars as the result of a botched crowdfunding real estate scheme were last week given the first indication their money would be returned — but clawing back those funds is far from a done deal.

More than three months after  CrowdStreet told investors in two campaigns run by New York real estate investor  Nightingale Properties that its CEO, Elie Schwartz, misappropriated their money, the independent manager of the entities created for the campaigns announced she had struck a deal with Schwartz to repay…

Read Full Story

  Share:  
Perforation

In Case You Missed It...

This Week's Atlanta Deal Sheet: Portman Jumps Into Student Housing With New Hire This Week's Atlanta Deal Sheet: Portman Jumps Into Student Housing With New Hire
Nightingale Strikes Deal To Pay Back CrowdStreet Investors By Selling Its Assets Nightingale Strikes Deal To Pay Back CrowdStreet Investors By Selling Its Assets
Unit Sizes Coming Down Again As Remote Work Renters Gravitate To Common Spaces Unit Sizes Coming Down Again As Remote Work Renters Gravitate To Common Spaces
Distress Coming For Atlanta Apartments, But Lenders Continue 'Kicking The Can' On Foreclosure Distress Coming For Atlanta Apartments, But Lenders Continue 'Kicking The Can' On Foreclosure
 
Perforation

Here’s How Cities Woo Biotech Amid Housing, Regulatory Hurdles

Here’s How Cities Woo Biotech Amid Housing, Regulatory Hurdles  

Government intervention isn’t anything new in life sciences. Expansive federal funding through National Institutes of Health investment has arguably been one of the industry’s main catalysts, and government money helped boost mRNA technology during the race for a coronavirus vaccine. 

But today, it has become much more localized. 

City and state investment in the industry has become more sophisticated and widespread. Despite some of the challenges, such as increased pressure on housing affordability, that come with the industry’s high salaries and expansive space needs, cities are looking to invest in talent, encourage life sciences-led multi-use development and bring biotech bucks home. 

“They saw our industry was really holding up the economy,” said Melanie Cohn, senior director of regional policy and government affairs at industry group Biocom California. She said that while not all cities are doing this, there are “absolutely” more localities than ever competing to land labs and life sciences…

Read Full Story

  Share:  
 
 
BISNOW
 
       
 
You are receiving this email because you are either a member of the Bisnow community, have attended a Bisnow event, because you have a legitimate interest in real estate news and events because of your profession, or because of your business associations, memberships or partnerships.
 
This email was sent to: newsletter.archives@bisnow.com
 
   
 
123 William St, Suite 1505, New York NY 10038
Newsletter Approval Code: 71360