Tag Archives: Georgia Real Estate

Severe Weather Safety for Commercial Properties

With hurricane Harvey and Irma hitting the US and causing widespread destruction, it’s a good reminder for all commercial property owners to evaluate their plans should severe weather strike our area. Even if not hit directly, rain, wind, power outages and flooding can occur hundreds of miles inland as a result of a hurricane.

Here are four tips to protecting your building and occupants:

  1. Research – Guidelines are available to provide an overview of what type of weather to expect in your geographic area. Following trusted resources such as the National Oceanic and Atmospheric Administration and the National Weather Service will not only provide information about threatening weather but also resources for emergency situations.
  1. Evaluate the Property – Take extra time to assess the property and identify any maintenance that can be performed to further reduce the risk of damage in the case of a storm. This includes items such as:
  • ensuring trees are trimmed away from the building
  • weather proofing windows and doors
  • ensuring sandbags are available if the property is in an area prone to flooding
  • verifying emergency signage and lightening is clearly displayed and in good working order.
  1. Test Generators – Backup generators are an effective alternative power source in the case of an outage – especially medical facilities where lifesaving machines and medications needing refrigeration are prominent. Make sure all are in working order with appropriate run time to support the facility’s needs.
  1. Plan and Communicate – Work with tenants to develop a plan for severe weather and ensure all employees and occupants are aware of how to respond in the case of an emergency. Prepare supply kits to be kept in central locations throughout the building. Train and practice the plan regularly to reduce the risk of being caught off guard in an emergency.

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.

 

Atlanta’s Office Market Remains Strong

The office market rebound and stabilizing economy in 2014 had everyone breathing a little easier but still crossing their fingers it would continue. Fortunately, Atlanta’s office market remains strong with vacancy rates below 20 percent[1] and rents climbing.

“Governor Deal is doing a great job promoting economic development within the state and it’s carried directly over to the office market,” said Barry McWhirter, president and CEO of McWhirter Realty Partners.

Corporate growth is a key driver for the low availability. Companies are gaining confidence in the economy and many are not only lifting the hiring freeze but recruiting for growth. And with that growth, businesses are actively seeking space. 

The construction and new development industry is rebounding but hasn’t caught up to the demand for space. So as new space comes available users are moving quickly to secure it. Tenants need to not only move fast but be flexible in the options available in today’s market. 

McWhirter Realty Partners helps companies find current space but also identifies, develops and manages new construction opportunities. Contact us today or visit our listing page for more information. 

 

[1] According to CBRE Atlanta Office MarketView Q1 2015

Economic Benefits of Adaptive Reuse

Major cities nationwide are experiencing a return to urban living and Atlanta is realizing the benefits of this growing trend.  The city is striving to provide an appealing urban center – a live-work-play environment – to reap the long term economic advantage from this population migration. One way the city is transforming neighborhoods is through adaptive reuse –renovating an old building for a purpose other than originally intended. 

Ranked as a Top 25 City for Millennials by Niche.com in 2014, Atlanta offers a classic city atmosphere with its lively entertainment, deep history and convenient public transportation options. The expansion of Georgia State University and the stability of Georgia Tech has increased the demand for convenient urban residences while the relocation of major corporate headquarters to the city requires unique dining and entertainment options. What’s more, Atlanta is gaining popularity as a retirement destination due to its climate and accessibility from Hartsfield-Jackson International airport. 

The economic benefits of adaptive reuse include: 

  • Preserving the city’s historical character while revitalizing an area’s economy by attracting productive populations.
  • Developers can more affordably buy and renovate a building than replace the same building.
  • Historical features and location tend to draw higher rent or purchase prices.
  • Commercial properties in walkable area show greater appreciation.
  • Transforming empty spaces brings in tax revenue and decreases the opportunity for crime and vandalism. 

McWhirter Realty Partners is knowledgeable of the metro Atlanta area and properties available for adaptive reuse. Contact us today or visit our listing page for more information on our current opportunities.

 

 

 

 

Atlanta Area Focus: Fulton Industrial Community Improvement District

Since the 1960’s, the Fulton Industrial Boulevard corridor has been one of Atlanta’s largest industrial and manufacturing areas. However, in recent years the area has faced increased challenges due to evolving technology and changing market needs which slowed growth and strained existing businesses. Fortunately, local leaders realized a targeted investment in the area was necessary to revive the region and formed the Fulton Industrial Community Improvement District (CID) in 2010. 

The formation of the CID allows service improvements – such as landscaping and security – and facility improvements to be funded through a voluntary tax and by applying for state and federal monies. The Fulton Industrial CID is focused on improving public safety, infrastructure, cleanliness and aesthetics of the area. The CID has already implemented crime prevention measures, reserved more than $1 million for transportation improvements and initiated a landscape maintenance program. To encourage business growth, a portion of the Fulton Industrial Boulevard is a designated “Opportunity Zone” affording tax incentives to businesses for job creation. 

The efforts of the Fulton Industrial CID combined with the location will influence future expansion of businesses. The Fulton Industrial area is convenient to I-20, I-285 and Hartsfield-Jackson International Airport. There are opportunities for businesses to occupy current vacant industrial properties, build on existing sites zoned for industrial or renovate with design geared towards today’s market. Additionally, the Fulton Industrial area is the most economical industrial district in Metro Atlanta for businesses looking to buy or lease. 

McWhirter Realty Partners has experience helping business owners and real estate investors maximize the value of their investments with extensive knowledge of local initiatives, such as the Fulton Industrial CID.  Check our blog for a series of updates related to this specific initiative, and if you have questions about real estate in the Fulton Industrial Boulevard CID or the metro Atlanta area, contact us today.

McWhirter Realty Partners focuses on brokerage, property management and development services with expertise in industrial, self-storage, office, retail, medical and land sales throughout the United States. The company consistently ranks as a Top Ten Producer as recognized by the Atlanta Commercial Board of REALTORS. McWhirter Realty Partners is located at 300 Galleria Parkway, Suite 300, Atlanta, Georgia 30339. www.mcwrealty.com.

 

Three Tips for Landlords Hiring a Commercial Real Estate Broker in Atlanta

A real estate broker can help make or break the financial goals for your commercial real estate property.  A good commercial real estate broker is a true partner who shows the initiative to find the right fit for your space.  In order to successfully find a broker you can trust will do the best job, consider these three tips:

  • Find a broker specific to your intended property use. Make sure the broker is familiar not only with your product type but also the sub-market of where you are located. Your broker needs to understand incentives – such as free rent, tenant-improvement allowances and opportunity zone incentives – being offered in the area in order to competitively market your product.
  • Ensure the broker has time to work on your lease. The longer it takes to find a tenant the more money out of your pocket. You need a broker who is willing to do the research in order to find the best options and negotiate the most favorable deal for your property in a timely manner. 
  • Use a broker with established relationships in all areas of real estate, development and property management. Negotiating a lease might require additional resources such as architects, attorneys or sub-contractors. Brokers with trusted relationships in these areas will expedite the negotiation period and often instill confidence in the prospective tenant that they are making a good decision.

Contact McWhirter Realty Partners today to find a broker for your property in the metro-Atlanta area.

McWhirter Realty Partners focusses on brokerage, property management and development services with expertise in industrial, self storage, office, retail, medical and land sales throughout the United States. The company consistently ranks as a Top Ten Producer as recognized by the Atlanta Commercial Board of REALTORS. McWhirter Realty Partners is located at 300 Galleria Parkway, Suite 300, Atlanta, Georgia 30339. www.mcwrealty.com

 

 

Cobb County Real Estate Focus: Marietta

One of the fastest growing counties in Georgia, Cobb County is consistently known for its excellent public schools, convenient location and low taxes – making it a desirable location for families and businesses alike.

Historic Marietta is the largest city in Cobb County and serves as the county seat. The area surrounding the traditional town square continues to attract new residential developments allowing residents to walk to local restaurants, shops and artist venues. Meeting Park, Manjet and Montgomery Park are highly sought after neighborhoods. McWhirter Realty Partners recently represented the seller of a new community, Marietta Walk, which will add 70 single family homes and town homes all within walking distance to the square.

McWhirter Realty Partners recently represented Cobb County government in a lease with Georgia Department of Family Services (DFACS) at 277 Fairground Street, Marietta, Georgia. DFACS renovated the building and will be relocating in March 2015. Dan Buyers and Peyton McWhirter represented the county.

McWhirter Realty is also representing the county in the sale of 2 office buildings in the city of Marietta: 57 Waddell Street and 32 Fairground Street.  McWhirter Realty recently represented Cobb County in the sale of 47 Waddell Street to an owner occupant who will be renovating the property.

If you have questions about real estate in Cobb County or the metro Atlanta area, contact us today.

McWhirter Realty Partners focuses on brokerage, property management and development services with expertise in industrial, self-storage, office, retail, medical and land sales throughout the United States. The company consistently ranks as a Top Ten Producer as recognized by the Atlanta Commercial Board of REALTORS. McWhirter Realty Partners is located at 300 Galleria Parkway, Suite 300, Atlanta, Georgia 30339. www.mcwrealty.com.