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January 10, 2024

Retailers Struggling To Find Space In Historically Tight Atlanta Market

Middle Street Partners President Of Development Johnson Bazzel Discusses Continued Activity Despite Headwinds At Atlanta Multifamily On March 21

Ashley Thomas and Morgan Perkins were teaching baking classes and crafting their croissants and fruit galettes for local coffee shops out of Thomas' home in Ormewood Park when the pandemic hit.

They decided to seize what looked like the opportunity of a lifetime to find a dedicated retail space in East Atlanta for their business, Galette. But the search for a storefront turned out to be an odyssey more difficult than they ever imagined. 

After more than three years of searching, Thomas and Perkins signed a lease last month for 1,200 SF in Downtown Avondale Estates for Galette's first location, expected to open this summer.

“It was very different than my expectations going into this,” Thomas told Bisnow. “With the pandemic, it was my expectation that [stores] would be closing. It was very much the opposite.”

Retailers Struggling To Find Space In Historically Tight Atlanta Market

Galette's story is an increasingly common one in Metro Atlanta, where only 3.4% of the market's retail space is vacant, according to Cushman & Wakefield, the lowest figure on record since the brokerage began tracking it in 2000. In the first quarter of 2020, vacancy was 12.3%. “There’s just a dearth of…

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Atlanta Developer Sentenced To 25 Years In Prison For Land Conservation Tax Fraud

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Atlanta-based real estate developer and accountant Jack Fisher was sentenced to 25 years in prison after being convicted of running a $1.3B scheme involving fraudulent tax deductions tied to land deals and conservation donations.His attorney and partner in the scheme, James Sinnott, was also sentenced to 23 years in Atlanta federal court…

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Survey: Bisnow Readers Split On How To Navigate CRE’s ‘Once In A Lifetime Reset’ In 2024

Survey: Bisnow Readers Split On How To Navigate CRE’s ‘Once In A Lifetime Reset’ In 2024  

Bisnow readers believe commercial real estate's condition should improve slightly in the new year. But after a harrowing 2023, many in the industry say they will remain in a holding pattern until the storm has safely passed.

A likely end to the Federal Reserve’s series of interest rate hikes is buoying industry sentiment in 2024. And while the majority of the 1,775 respondents to Bisnow’s 2024 predictions survey said they don’t intend to make any major moves this year, some view the next 12 months as prime time to capitalize on the wreckage sustained in 2023.

“The current flux in the market due to uncertainty over pricing, interest rates and geopolitical events still needs time to play out before full confidence can return,” a Paris-based retail expert  told Bisnow late last year. “That said, prices are revising and rental prices have rebased. A lot…

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Real Estate’s Finance Class Sees Hope And Distress For 2024 At CREFC Conference

Real Estate’s Finance Class Sees Hope And Distress For 2024 At CREFC Conference  

All eyes are on the Federal Reserve as commercial real estate deal-makers flocked to Miami Beach this week. 

Following an 18-month period during which rising interest rates punished deal volume to the point that most major brokerage firms implemented layoffs, real estate investors are restlessly awaiting interest rate cuts that they expect to unlock capital just as lenders become more aggressive with distressed borrowers.

This dynamic will boost acquisitions and force sales at discounts, industry players told Bisnow at the Commercial Real Estate Finance Council's biannual conference on Monday. 

“The fence-sitting that's been going on between lenders and borrowers is going to come to an end in 2024,” said Tad O'Connor, co-chair of real estate litigation practice at New York-based Kasowitz Benson Torres. “You're going to see more contentious resolutions of things than what has been happening really since…

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