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Posts tagged Atlanta Apartment Association

Making News: Our Clients in the Headlines

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  1. Are you in the know about the TAMI (technology, advertising, media and information technology) sector? Brannan Moss, senior managing director, and Juliet Potter, vice president and director of research at Jones Lang LaSalle (JLL) showed their expertise in this week’s Atlanta Business Chronicle. Detailing the growing demand for non-traditional, “creative” office workspaces in the Atlanta area, Moss said, “To be successful, these facilities need to be located in areas with amenities including good transportation infrastructure and vibrant retail opportunities.” Potter went on, “Demand for creative office space is following the fundamental shift in the ways companies desire to acquire and retain the best talent.”

 

Mike Ferrer, broker in charge of Lincoln Harris’ Charleston office

Mike Ferrer, broker in charge of Lincoln Harris’ Charleston office

  1. Mike Ferrer, broker in charge of Lincoln Harris’ Charleston office, recently sat down with Globe St. to discuss the booming commercial real estate industry in Charleston. Ferrer says that the statistics back up his claims, with the office market vacancy falling from 11 percent in the first quarter of 2014 to 7.8 percent in the second quarter of 2015. Increasing demand has also pushed up gross asking rents to $19.49 per square foot in the first quarter this year. In tandem, the population of Charleston has seen a recent boom, with a 50 percent increase in the last decade. Clearly Ferrer is being quite modest when he says, “…the market is producing a favorable environment for commercial real estate growth.”

 

  1. Fisher & Phillips’ managing partner Bert Brannen recently had an op-ed published in the Daily Report concerning the this week’s latest “Defaltegate” scandal. The latest development: a judge overturned Patriots quarterback Tom Brady’s four game suspension by the NFL, and Brannen realized this was a potential lesson for employers in Georgia. In fact, he has four different lessons including ensuring that employees fully understand company rules and that the punishment fits the crime.

 

  1. Globe St. published an article this week investigating just why the Atlanta Beltline is so popular. Tim Schrager, board chairman of the Atlanta Apartment Association, gave his opinion, “People want to be able to travel between hot neighborhoods like Midtown and Inman Park without fighting Atlanta traffic, and the BeltLine makes that possible,” Schrager says. “That’s an attractive benefit to young professionals, families and retirees alike.” The Beltline is among the most wide-ranging urban redevelopment programs currently underway in the United States. It is a sustainable redevelopment project that will provide a network of public parks, multi-use trails and transit along a historic 22-mile railroad corridor circling downtown and connecting many neighborhoods directly to each other.

 

Mark Toro, managing partner and chairman of North American Properties

Mark Toro, managing partner and chairman of North American Properties

  1. Mark Toro, managing partner and chairman of North American Properties, was recently interviewed by none other than the New York Times. Toro details his company’s culture of “Who will do what by when?” which means that, “If somebody says during a meeting, ‘We’ve got to get this lease signed,’ everybody knows what the follow-up question is going to be.” Toro then went on to give some advice on how to handle the people you work with, “There are only two types of people in the world: people who do what they say they’re going to do when they say they’re going to do it, and people who don’t do what they say they’re going to do when they say they’re going to do it.”

Making News: Our Clients in the Headlines

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SkyHouse Buckhead advertises its units for lease to motorists in Buckhead. Average rents are climbing as apartment vacancy remains tight amid a development boom

SkyHouse Buckhead advertises its units for lease to motorists in Buckhead. Average rents are climbing as apartment vacancy remains tight amid a development boom

  1. The Atlanta Journal Constitution reports that the city’s steadily increasing apartment developments will continue to grow for the foreseeable future. Ryan Davis of Witten and Associates, speaking at the Atlanta Apartment Association’s bi-annual Market Outlook breakfast, attributed the increase to Milliennials’ inclination towards renting rather than purchasing a home, as well as a steady increase in jobs (77,000 in the past year in metro Atlanta). According to data firm Axiometrics, rents in metro Atlanta grew at an annual rate of 7.3 percent and the average two-bedroom unit rented for $1,020 in June, while occupancy stood at 94.7 percent.

 

  1. Fisher & Phillips, a law firm specializing in labor and employment law, has released a new report on the early impact of the National Labor Relations Board’s so-called “quickie election” rule that went into effect this April. The Atlanta Business Chronicle reports that little change has occurred in the outcomes of union elections conducted under the shortened timetable, with only a slight increase in elections compared to the same time last year. Bert Brannen, managing partner of the Atlanta office of Fisher & Phillips, says the data “indicates unions are attempting to take advantage of the new process and creating issues for employers who may oppose the unions’ efforts. [But] the number of elections to go to a vote have decreased. … Some employers may see that as a positive sign.”
The kids clearly enjoyed the festivities!

The kids clearly enjoyed the festivities!

  1. This past weekend, Atlantic Station had a TON going on. Examiner reports that last Saturday, Central Park featured a college game tailgate, plus the King of Pops were set up from noon-7:00 p.m. (we hear the Salted Caramel flavor was unforgettable). The college game day tailgate featured The Big Green Egg, Chevy trucks, Johnsonville brats, and more – families were very welcome! If bone licking BBQ was more of visitors’ speed, they were able to attend the Atlanta BBQ Festival with 50 professional and amateur BBQ teams competing for the title of Best BBQ in Atlanta.
  1. Two-dozen Boys & Girls Clubs of America facilities across the country are about to get a makeover. Atlanta-based Aaron’s Inc. is set to announce a $5 million, three-year national partnership with the organization to help empower at-risk teenagers, reports the Atlanta Business Chronicle. The donation will support the nonprofit’s Keystone Club, its premier national teen leadership and character program. The announcement will take place August 24 at the Warren Boys & Girls Club in Grant Park, where Aaron’s will unveil a $25,000 makeover — including donations of furniture, electronics and appliances as well as paint.
  1. iStar has already surpassed last year’s total sales, selling 10 units for a total of $22 million at The Residences at Mandarin Oriental. The team, led by exclusive listing broker Karen Rodriguez, has completed $38.2 million in sales at the property since taking over the project in January 2014, according to Unique Homes. The next build-out phase is underway for the second full-floor condo, Residence 52, a stunning penthouse-style home priced at $4.2 million that includes four bedrooms, 4 ½ baths, a Carrera marble entry, Waterworks fixtures, and nearly 800 square feet of outdoor terrace space. The first full-floor unit, Residence 51, is under contract for nearly $4 million. For homeowners who desire a fully customizable residence, The Residences are offering two full floors as unfinished homes. Currently, there are four finished units available, with an additional six units under construction.
The Residences at Mandarin Oriental

The Residences at Mandarin Oriental