June 14, 2017

Commercial Real Estate Resurgence in the Southeast…AND MORE

Population growth and affordable cost of living accelerate CRE renaissance in the Southeast, By Patricia Kirk, NREIOnline.com 

“Collectively, the six states comprising the region—Alabama, Florida, Georgia, North Carolina, South Carolina and Tennessee—would form the sixth largest country in the world from a GDP standpoint. Over the last three to four years the Southeast has experienced the greatest population growth in the United States. The Atlanta population increased by 1.6 percent, Miami’s by 1.5 percent and the population of Raleigh, N.C. by 2.5 percent, compared to 0.5 percent population growth in Los Angeles and Boston during the same period, 0.25 percent in New York City and Philadelphia and negative population growth in Chicago, notes Atlanta-based CBRE Regional Research Manager Dan Wagner, who authored a series of recent reports on Southeast real estate markets.”


U.S. needs 4.6 million new apartments by 2030, By Monsef Rachid, World Property Journal

“According to a new study commissioned by the National Multifamily Housing Council and the National Apartment Association, delayed marriages, an aging population and international immigration are increasing a pressing need for new apartments in the U.S., to the tune of 4.6 million by 2030. It’s important to note that: Currently, nearly 39 million people live in apartments, and the apartment industry is quickly exceeding capacity; in the past five years, an average of one million new renter households were formed every year, which is a record amount; and, it will take building an average of at least 325,000 new apartment homes every year to meet demand; yet, on average, just 244,000 apartments were delivered from 2012 through 2016.”


Survey: Updated amenities, energy-efficient products are the most-adopted next-gen features, By Mary Salmonsen, Multifamily Executive

Updated amenities and energy-efficient features are the two most-popular building product trends among multifamily professionals, according to MFE’s exclusive 2017 MFE Concept Community study. Of the 151 multifamily builders, developers, and architects responding to our survey, 19.2 percent report testing updated or more-convenient amenities in their projects. Energy-efficient and energy-conserving products were nearly as popular, with 17.2 percent of respondents noting they’re implementing the next-generation items in their developments.


Children’s clothing retailer files for Chapter 11 restructuring, By Michael Neibauer, Atlanta Business Chronicle

“San Francisco-based children’s clothing retailer Gymboree Corp. announced late Sunday it had filed for Chapter 11 bankruptcy, but at this time expects to ‘otherwise manage its day-to-day operations as usual.’”


Terwilliger Pappas shifting development focus from Atlanta to the Suburbs, By Jarred Schenke, Bisnow

“Terwilliger Pappas — led by Ron Terwilliger, the former CEO of Trammell Crow Residential — has broken ground on Solis Town Center, a 240-unit apartment mixed-use project adjacent to Suwanee Town Center, in one of Gwinnett County’s more affluent communities. The project, at the intersection of Lawrenceville-Suwanee Road and Buford Highway, will also include 12,000 square feet of retail to augment the 100,000 square feet of retail and 87,000 square feet of office already at Suwanee Town Center.”

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