Monthly Archives: August 2015

Case Study: Turn Key Real Estate Solutions

aerial empty parking

Pinnacle Orthopedics- Marietta, Georgia

In 2003, Pinnacle Orthopedics engaged McWhirter Realty Partners to build its Marietta medical office and cha rged the firm with land acquisition, zoning, development and management. The two-story, 40,000 SF building was completed in 2004 and houses Pinnacle Orthopedics’ clinic, physical therapy practice and MRI unit.

After development was complete, McWhirter Realty Partners was retained as the Asset and Property Management Company. In 2015 Pinnacle decided to sell the building to a Healthcare REIT and McWhirter Realty Partners represented the company in the sale. The new owner continues to rely on McWhirter Realty Partners for Asset and Property Management and has since enlisted them for construction management services as it expands the physical therapy and MRI unit.

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Office Space in Demand Throughout Atlanta

The rebound in commercial real estate continues across the country throughout the second quarter of 2015, including throughout Atlanta and its major submarkets. Atlanta currently ranks among the top 10 strongest markets[1] in demand for office space, in part due to companies expanding and rapidly securing available inventory. The limited supply and increase in demand is causing rental rates to increase throughout Atlanta.

This trend is prevalent in submarkets such as Buckhead and Perimeter. Buckhead, which was one of the hardest hit submarkets during the recession, has been quick to maintain its pace of recovery since late 2014 and remains one of Atlanta’s top office submarkets. It has benefitted from the lack of new construction sites available, which causes companies to clamor for available space.

Central Perimeter, which includes Dunwoody and Sandy Springs, is also seeing a decrease in available office space – particularly the higher price points. At the end of 2014, the vacancy rate of class A office space was lower than any other Atlanta submarket. The desirability of the central Perimeter market most recently attracted Mercedes-Benz to lease space for its headquarters while building its new   campus in the same area. Location is a significant draw for businesses with the proximity of major highways, three MARTA stations and an abundance of business-friendly amenities.  

McWhirter Realty Partners has an in-depth understanding of the current office environment in Atlanta and its submarkets. Contact us today to find current space or identify new construction opportunities.

[1] DTZ Q2 2015 Report

Protecting Your Business when Severe Weather Hits

Summer storms are common in the south, and while most aren’t severe, all can produce heavy rain, hail, lightening and high winds. Property managers and business owners alike need to have a plan in place should severe weather damage property or cause a power outage.

Here are some tips to prepare, protect and recover when severe weather occurs:

  • Know your risk. If your building is in a flood zone or area prone to tornados, have a professional inspect the structure of the building to ensure it can stand up to excess water, high winds, hail and other storm elements.
  • Take precautions. Insurance policies need to be up to date and provide appropriate coverage for the business location. Necessary materials need to be accessible to cover windows or equipment for protection and first aid supplies should be well stocked.
  • Backup power. Ensure alternative power sources and communication methods are available to keep essential items running in the event of a power outage. 
  • Protect building occupants. All tenants should be informed of the severe weather plan, evacuation procedure and location of emergency shelter. Establish a warning system and post-storm communication procedure is in place.
  • Recover safely. Leave the repair of downed wires and removal of debris to a professional. Prevent unauthorized people from entering an area until it’s been designated as safe.

Severe weather is a serious threat and one that can often happen with little warning. It’s important to be thorough and proactive to ensure your business is protected. McWhirter Realty Partners has a skilled property management team with experience preparing and recovering from weather related events. If you’re interested in learning more about our services or need a property management partner, contact us today.

 

Real Estate Focus: Forsyth County

Forsyth County consistently ranks as one of the fastest growing counties in the US and currently holds the seventh position on the list according to the US Census Bureau’s 2014 Population Estimates. The Metro Atlanta suburb’s community and government is committed to smart growth, high education standards and making a positive economic impact on the state.

Since 2005, there has been marked growth of young, wealthy families moving to the northern suburb to take advantage of the highly ranked public schools and low taxes. Families also enjoy the county’s elaborate park system and growth of retail and dining experiences – all of which continue to drive the housing market.

Business is booming in Forsyth with the county alone attributing to 40 percent of North Georgia’s business growth in 2012 according to the Georgia Department of Economic Development. This growth is coming equally from expansion of existing businesses and relocation of new businesses. The county has focused initiatives – like the chamber’s Business First – to grow the healthcare, technology and international industries which have consistently been strong in the area.

Forsyth County is poised to continue to attract real estate investors and developers. McWhirter Realty Partners has extensive knowledge of the county and the surrounding area. If you have questions about real estate in Forsyth County or the metro Atlanta area, contact us today.