1. It’s a pretty swell feeling when you get a client in a major newspaper. Triple that feeling when you land three clients in one story! A recent Atlanta Journal-Constitution story on GE’s potential move to Atlanta featured quotes from Hartman Simons’ partner Bob Simons and Jones Lang LaSalle’s (JLL) vice president Gregg Metcalf. The article also mentioned the potential for GE to come to Atlantic Station. Metcalf says Atlanta is under consideration because of its appeal to millennials, saying, “…[GE is] not going to go to a super-duper tax environment if it’s not a place millennials want to live,” Simons sees potential barriers as Atlanta’s real estate market has filled up quickly in recent years, saying that in Class A neighborhoods such as Buckhead, “It’s getting harder and harder to find big blocks of vacancies.”
2. Matthew Simpson, partner at the Atlanta office of Fisher & Phillips, recently landed an op-ed in The Augusta Chronicle. Simpson wrote about the recent U.S. Department of Labor proposal to raise the minimum salary threshold for exempt employees. Simpson warned that small businesses in Georgia could be hurt by the new rules, saying, “…any proposal to increase minimum wage or salary requirements must take into account what businesses throughout the country can afford to pay, not just what certain companies in major metropolitan areas should pay.”
3. Charlotte, N.C.-based Crescent Communities was featured in the Wall Street Journal in an article about the apartment market. The article details the continued growth of this market throughout the country, despite some saying that it is overbuilt. The article says a contributing factor is “The percentage of people 18 to 34 years of age who are doubled up, meaning they are living with an adult other than a spouse, increased to 48 percent this year from 44 percent in 2007, according to the Pew Research Center. That suggests many are living with parents, other relatives or roommates and might soon opt for their own rental.” Crescent Communities has built 5,000 apartment units in the past two years, with another 5,000 in the works for the next two years.
4. The Urban Land Institute held its 2015 Awards Dinner at the Fox Theatre this past week and awarded its highest honor, Project of the Year, to Avalon in Alpharetta, Georgia. The Atlanta Business Chronicle details the acceptance by Mark Toro, partner of North American Properties. As the award was handed off, ULI’s Executive Director Sarah Kirsch called the project “catalytic.” Toro called the project a labor of love and said he’s been having more fun than he’s ever had. Then he shared his assessment of the project, calling Avalon Atlanta’s first “urban burb.”
5. The 2016 Cayman Alternative Investment Summit (CAIS) is an annual conference bringing together leading thinkers and practitioners from different segments of the global alternatives industry to explore the challenges and opportunities their industry faces and design responses that will take it to its next level of success. eVestment, an analytics and logistics company serving institutional investing community, recently wrote about CAIS, detailing the conferences location (Cayman Islands! Ritz Carlton!) and dates (Feb, 4-5, 2016). We’ll see you there!