Tag Archives: economy

Atlanta Remains Top City in Nation for Absorption Year to Date

With the first two quarters posting absorption over 12 million square feet, all key indicators continue to confirm that the industrial market in Atlanta remains strong. In fact, the city leads the nation in total net absorption for the year and has already surpassed 75 percent of last year’s net absorption. The south Atlanta submarket made up for more than 60 percent of the year-to-date total.

The continued growth of Atlanta’s infrastructure, logistics and manufacturing industries are driving factors in the market’s success with warehouse and distribution centers representing the majority of the demand. Since the city is a logistic and transportation hub for air, road, water and rail, industrial sector opportunities will continue to increase. These factors and the growth of the e-commerce industry will also highlight the city as an attractive asset for real estate investors.

Georgia’s location, relatively affordable land rates and business-friendly climate often help position the state as a top selection site for big business. McWhirter Realty Partners helps companies find current space, and also identifies, develops and manages new construction opportunities.

If you’re looking for industrial space, visit our listings page or review these featured listings:

 

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.

 

Brownfield Redevelopment Benefits in Georgia

Brownfields are property with a determined contaminate, hazardous material or pollutant which makes it difficult to be redeveloped for public or private use. A brownfield in a successful business or residential community has the obvious attraction of location but liability and cleanup costs most often deter potential developers from pursuing such properties.  

By limiting liability to a new owner, as well as providing tax incentives, Federal and state programs now make the cleanup task more appealing, which produces both environmental and economic benefits. The Georgia Brownfield program removes the future environmental liability from a new owner/developer and provides tax incentives to help recover costs for the investigation and the cleanup by “freezing” the assessed value of the property for up to ten years[1] or until costs have been recovered. So as the property value increases, the owner benefits in tax savings. 

Turning an unused property into a thriving business helps the economic vitality of the community as well. For example, in 2012, McWhirter Realty Partners purchased an abandoned convenient store in Athens, Georgia, that had been vacant for ten years due to a tremendous amount of contamination. The location, within the 5-Points neighborhood of Athens and less than a half-mile from the University of Georgia campus, was redeveloped following a plan successfully approved by Athens-Clarke County and the State’s Environmental Protection Division (EPD). Today, the site is home to Grindhouse Killer Burgers. 

Another example of a successful brownfield project is the former City of Norcross landfill. In the 1970’s the City of Norcross closed its landfill located on Reps Miller Road in the heart of Peachtree Corners. A partnership, led by McWhirter Realty Partners, acquired the 9 acre property for a future industrial development. After holding the land for many years, the company turned its focus to redeveloping the property for residential. With cooperation from the State EDP and geotechnical and environmental consultants, McWhirter Realty Partners removed all of the landfill and successfully rezoned the property for 90 townhome units. Greenwood Townhomes continues to thrive on the property today.  

What’s more, an EPA study found that residential property values increased by up to 12 percent within a one-mile radius of a brownfield assessment or cleanup[2]. And removing abandoned property can also reduce the prevalence of crime, loitering and vandalism. 

For more information on brownfield redevelopment in Georgia visit the EPD of the Georgia Department of Natural Resources. 

[1] Georgia Brownfields Program

[2] www.epa.gov/brownfields