Birmingham is Poised to Stake its Claim as a Burgeoning Retail Destination

Like many of the markets within the Sun Belt, Birmingham’s economy remained relatively resilient through the emergence of the COVID-19 pandemic. Despite its share of small business and restaurant closures, leasing activity is back to par, and owners continue to see steadily rising rental rates — up 3.1 percent over the last 12 months — as tenant demand continues to be robust.Retail absorption over the last 12 months is a healthy 400,000 square feet compared to -510,000 square feet a …

Birmingham’s Multifamily Market is Making a Splash as In-Migration Soars

The Sun Belt is experiencing unprecedented growth with in-migration trends setting the stage for further expansion and bolstering in-place multifamily product. This includes Birmingham, which has weathered COVID-19 well not only from an employment perspective, but from a rent growth perspective too. The latter is not sustainable without the former, and local capital investments point to more tailwinds.[caption id="attachment_315295" align="alignright" width="100"] Craig Hey, Cushman & …

Nashville’s Robust Industrial Market is Growing Toward the South and East

After several years in the top 10, Nashville was named the No. 1 “market to watch” in overall commercial real estate prospects, according to Urban Land Institute and PwC’s 2022 Emerging Trends in Real Estate report. Nashville surpassed its supernova competitors (markets with a population between 1 million and 2 million people) such as Raleigh-Durham, Phoenix, Austin and Charlotte. The report credits Nashville’s robust and sustained job and population growth, above-average levels of …

Suburbs Continue to be the ‘Shining Star’ for Nashville’s Multifamily Sector

Suburban household growth in metropolitan Nashville was already outpacing urban growth prior to the COVID-19 pandemic, but has accelerated since the outbreak due to corporate America’s acceptance of work-from-home staffing.Multifamily investors have followed this suburban household growth as well. Two recent examples are in Lebanon and Murfreesboro, both high-growth, high-quality suburbs of Nashville that have recently experienced record-setting transactions. The Pointe at Five Oaks …

Nashville Welcomes Wave of New Retailers, Restaurants Entering the Market

After national media declared traditional brick and mortar retail to possibly be on it’s “last leg” due to the COVID-19 pandemic, the Nashville area has seem quite the opposite reaction. Already in an accelerated state of demand going into the shutdown of 2020 that extended into a malaise in 2021 in many places, Nashville is seeing all indicators of the hottest retail market in its history.Prior to the pandemic, rents and occupancy were already at historic highs. 2020 began with a …

High Demand for Raleigh-Durham Multifamily Drives Record Sales Volume, Pricing

Raleigh-Durham is increasingly popping up at the top of shopping lists for multifamily investors, and buyer demand — coupled with strong rent growth — is resulting in record sale prices.As of this writing, 2021 is on pace to be one of the best years ever in terms of total transaction volume. As capital continues to flow into the market across the spectrum of investor groups from institutions to high net worth individuals, cap rates also have dropped into record territory. Just about …

Raleigh-Durham’s I-40/I-85 Corridor Emerges as Industrial Tour de Force

The I-40/I-85 Corridor is an emerging distribution area with a remarkably strong tenant mix between national manufacturers and distribution users, making it one of the most fundamentally sound corridors in the Sun Belt. The I-40/I-85 Corridor, squarely centered between the Triad (Greensboro, Winston-Salem and High Point) and the Triangle (Raleigh, Durham, Chapel Hill), is home to companies such as Walmart, Lidl, Ford, Kidde, Amazon, Chick-Fil-A, UPS, Lenovo, FedEx, Coca-Cola, among others. …

Corporate Expansions, Sales Highlight Hopeful Office Recovery for Triangle

The Raleigh-Durham region is experiencing increasing optimism despite the lingering impacts of COVID-19. While some reentry plans have been delayed and companies are still grappling with the way in which they will utilize office space moving forward, tenant demand is expected to rebound sharply in the first half of 2022.“We’ve seen an encouraging uptick in tenant activity since the second quarter of 2021, and we expect that trend to accelerate,” says Kathy Gigac, principal of Avison …

Mixed-Use Projects, Mall Redevelopments Headline Triangle’s Retail Development Activity

The end of 2021 in Raleigh-Durham was marked by robust retail leasing and an increased level of investment sales in our suburbs and infill trade areas. Downtown Raleigh, Durham and Chapel Hill have lagged in activity, although each urban environment started to see a resurgence by mid-year, and notably Downtown Raleigh ended 2021 with record retail leasing activity.Population growth and major economic development announcements are driving these positive trends. Apple, Google, FujiFilm, …

Atlanta’s Resilient Restaurant Sector is on the Rebound Post-Pandemic

When I recently looked into a prime site in Atlanta’s bustling West Midtown district on behalf of one of my restaurant clients, I quickly realized that several restaurants were eyeing the space. There were six other restaurant groups interested in leasing the space, creating a bidding war at rental rates far higher than my client wanted to pay.Heated competition for available restaurant spaces is by no means unusual in the Atlanta market these days, particularly for intown Atlanta, or the …

Content Partners
‣ Arbor Realty Trust
‣ Bohler
‣ Lee & Associates
‣ Lument
‣ NAI Global
‣ Northmarq
‣ Walker & Dunlop

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