We had our first dynamic IREM Georgia luncheon with guest speaker David Haddow,
President of Haddow & Company a real estate consulting firm founded in 1989 to serve the various needs of developers, investors, lending institutions, families, corporations, and others. Mr. Haddow had an inspiring and empowering message for the sold out luncheon entitled “Riding the Wave” as it relates to recognizing trends and taking advantage of Real Estate opportunities in 2015.
As we enjoyed our lunch at the Ansley Golf Club, the room felt electric as Mr. Haddow spoke passionately about how great of a time it is to be a Real Estate Professional in Atlanta today. The economy is doing well on a national level which has trickled down to the local levels helping to put Atlanta on the map.
Riding the Wave includes recognizing the ten most positive trends that are facing the Real Estate Industry for 2015. These insights will help you navigate the industry waves and help you steer your ship to the land of fiscal prosperity this year.
Atlanta is experiencing substantial growth and diversification thanks to the national economic upturn. As Real Estate Professionals it is a perfect time to take advantage of the good waves because when the economy is doing well people feel comfortable to make investments. Industries such as construction, business services, finance, and Real Estate have contributed to the Wealth Effect and it’s time to catch the tide.
Atlanta has become a national leader and a hub for employment diversification making it a great place for corporate relocation and expansion. In 2014 Atlanta became home to some amazing companies such as Mercedes-Benz USA, State Farm, Pulte Group, NCR, and Newell Rubbermaid. These new companies present new employment opportunities and new Real Estate ventures; continuing to contribute the good feelings and the Wealth Effect.
Mr. Haddow spoke extensively about the urbanization and expansion of Atlanta crediting the great migration back to the city for big business, the emergence of hip new in town areas, large construction projections, strong residential growth led by apartments and downtown’s various attractions to inspire tourists and locals alike to venture into the city.
The City of Atlanta in 2014 welcomed businesses like Athena Health, NCR, WorldPay, and Coca Cola’s IT Department downtown. Additionally, there’s the emergence of Atlanta’s Beltline, the expansion of corridors like Edgewood Avenue and Memorial Drive creating a prosperous locale out of a once dismal and desolate part of town. The excitement does not only include big businesses but small businesses and non-profits that extends to restaurants, museums, retail, and cultural experiences that inspire tourists and locals alike to venture in town for fun and investments. Atlanta’s expansion is the perfect storm for Real Estate Professionals to take advantage of the opportunities.
As a real estate professional it’s an exciting time because demand is finally catching up with supply. Office Space increased tremendously in 2014 when vacancy below 20 percent. The success of Ponce City Market was amazing considering over 400,000 square feet of the 550,000 square foot facility was leased before doors opened. Speculative Building resumed in 2014 as well after a hiatus. Atlanta is not only attracting domestic dollars but foreign monies and private equity. In 2014 an individual investor paid $121 million for 77 12th Street. The Industrial market is exploding thanks to the expansion of e-commerce and developments of once vacant properties such as Shannon Mall that has the space to facilitate large businesses. The hotel industry is currently going through an overhaul by re-designing once drab and out of date properties into modern designs to satisfy current taste and trends. The residential market is doing exceptionally well because there’s an increase in demand for apartments and homes driving the prices up making it a WIN for Real Estate Professionals everywhere!
It’s a great time for the City of Atlanta but there are still many challenges that include uninspired urban design. The City is competing with other major cities and need to focus more on the design aspect and infrastructure. Atlanta will be watching the design of our new developments relating to parking structures. Parking structures can be unsightly and architects must incorporate new design trends that hide these structures or create a visually appealing visage to encourage and complement surrounding developments. Mr. Haddow also discussed the challenges of these new infrastructures that encompass parking and our transportation situation. In addition to the City’s misallocation of funds such as the GA Dome, Atlanta Braves Stadium, the New Street Car, and the unbridled creation of new cities takes so much away from Atlanta.
The vibrancy of Atlanta’s expansion is a renaissance of sorts and it’s a perfect storm for Real Estate Professionals to jump in and capitalize on the excitement and money making opportunities. As you can see Mr. Haddow’s Riding the Real Estate Wave was truly inspiring and a great way to set the tone for professional goals in 2015. Special thanks to David Haddow for an amazing afternoon.
If you missed the luncheon don’t worry IREM GA has plenty of opportunities for you to enjoy inspiring lunch and learns to help take your business to the next level!
Photo credit: IREM Georgia
Check out IREM Georgia’s 2015 Calendar of Event.