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November 20, 2023

Rents Rise Despite Leasing Malaise As Office Tenant Build-Out Costs Escalate

What New Placemaking Projects Will Define Their Submarkets? Join Us To Learn More About These Defining Developments.

Companies in the market for office space are failing to find rock-bottom rent deals, even as landlords face a wave of maturing debt and rising market vacancy. 

Instead, tenants, who still want shiny new spaces that will lure employees back to the office more often, are turning to landlords who have the capital to fund tenant improvement allowances, even as they are paying near-record-high rents, panelists said during Bisnow’s Atlanta office event last week. 

Rents Rise Despite Leasing Malaise As Office Tenant Build-Out Costs Escalate

“It’s all about talent. It’s all about trying to recruit the best talent,” Highwoods Properties Senior Vice President Heather Lamb said at the event, held at the Crowne Plaza Atlanta — Midtown hotel. “[Tenants] are not really too concerned about the price point that they’re paying for the real estate.…

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This Week's Atlanta Deal Sheet: Hyundai Expands EV Arm Into Satellite Place

This Week's Atlanta Deal Sheet: Hyundai Expands EV Arm Into Satellite Place  

The electric vehicle revolution in Georgia is benefiting an office park in Duluth.

Hyundai Glovis, a logistics subsidiary of the South Korean auto giant, leased 18K SF at Satellite Place, an office park in Duluth that includes a six-story and a single-story office building totaling 820K SF. Hyundai Glovis is nearly doubling its local footprint and moving from nearby 3675 Crestwood Parkway in…

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Amazon Listing More Of Its Big, New Warehouses For Sublease

Amazon Listing More Of Its Big, New Warehouses For Sublease  

Amazon is once again accelerating its push to shrink its enormous U.S. warehouse footprint, but this time it is looking to shed some of its newest fulfillment centers, according to a new analysis. Amazon placed more industrial space on the market for sublease in October than it has in any single…

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'Author Of The Future Or A Victim': Architects And Designers Face A Choice As Projects Nose-Dive

'Author Of The Future Or A Victim': Architects And Designers Face A Choice As Projects Nose-Dive  

As the architecture and design industry grapples with a steep decline in commercial work, firm leaders are turning their focus to practice areas and technologies they hope will safeguard their future relevance.

The American Institute of Architects/Deltek Architecture Billings Index score fell below 50 for the third consecutive month in October, indicating the majority of companies are experiencing a loss of revenue.

Well-diversified firms are leaning into noncyclical business. But technological advancements like artificial intelligence paired with the pinch of an economic downturn are driving many to double down on sectors that transcend the architectural realm.

In other words, firms must adapt or die.

“Do you want to be the author of the future or the victim?” HKS Inc. CEO and President  Dan Noble said. “Clearly, we’d like to be the authors, so if with open eyes we realize, ‘This is happening and how do we respond?’ there are many,…

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