Each Wednesday, The Wrap presents a compilation of recent noteworthy commercial real estate stories from a variety of publications. Below are links to five stories that caught our eyes in recent days:
Connection is the best amenity for apartment properties, By Bendix Anderson, NREIOnline.com
Key Excerpt:
“Apartment living is focusing more and more on the world outside the apartment, and developers are providing amenities that help residents connect with their neighbors, their neighborhoods and with services and amenities they need.”
‘Surban’ investment suffers from short supply, By Glenn Brill, NREIOnline.com
Key Excerpt:
“According to statistics from realtor.com, Situs RERC and others, America’s most expensive cities are often too pricey for these young residents that are saddled with historically high student debt. While the more affordable outer-ring suburbs might lack amenities and offer long commute times, surban areas usually offer the live/work/play town center environment that Millennials seek, including access to mass transit and the good schools they typically grew up with, as well as proximity to their parents and other family members at a better price point.”
Atlanta City Council turning over properties to Atlanta Public Schools, By Dave Williams, Atlanta Business Chronicle
Key Excerpt:
“Atlanta will turn over 10 disputed properties to Atlanta Public Schools. The Atlanta City Council voted unanimously Monday to transfer deeds for the properties, which had been deemed surplus, to the school district, citing the affordable housing policy the Atlanta Board of Education adopted last month.”
REIT EastGroup Properties entering Atlanta market, By Douglas Sams, Atlanta Business Chronicle
Key Excerpt:
“In a Feb. 2 earnings call, EastGroup CEO Marshall Loeb told analysts the company plans to close on the purchase of a three-building, 238,000-square-foot property along Georgia 400.”
AIG leaning toward Atlanta consolidation? By Jarred Schenke, Bisnow
Key Excerpt:
“The potential consolidated office operations — under the economic development moniker Project Red Zone — is using CBRE for its search for at least 500k SF, and the Dallas Morning News reports “early signs are that Atlanta is the favorite for the move.” As we previously reported, AIG officials have been eyeing anchoring mixed-use projects both in Atlanta and Dallas, including Thomas Land & Development’s Wade Park project, which just got an $80M bridge loan infusion to push through construction of its retail portion. The $2B, 175-acre project is the work of Atlanta developer Stan Thomas.”