For those interested in how Atlanta's commercial real estate market is expected to perform in 2012, Atlanta Galleria tenant The Urban Land Institute (ULI) has got you covered. Tomorrow, ULI Atlanta will host the “Real Estate Outlook 2012 – What’s Next for Atlanta” panel discussion at the Omni Hotel in downtown Atlanta, next to the CNN Center. The session will start at 7:30 a.m. and last three hours.
Panelists will include Dean Schwanke, executive director of the ULI Center for Capital Markets and Real Estate; Doug Sams, commercial real estate reporter for Atlanta Business Chronicle; Will Yowell, vice chairman of CB Richard Ellis’ Investment Properties Institutional Group; Lance Patterson, president of Patterson Real Estate Advisory Group; David Hudson, senior vice president at Bank of America; and Kris Miller, president of Ackerman & Co.
The event also will feature a presentation on the forecast for Atlanta contained in the recently released “Emerging Trends in Real Estate 2012” report, which was produced by ULI and PricewaterhouseCoopers and is based on surveys of and interviews with nearly 1,000 real estate experts. The report gives Atlanta less-than-glowing reviews, saying that investment prospects for commercial real estate properties in the city are “fair” (the other options are “generally good” and “generally poor”) and that development prospects are “generally poor.”
“We’re a development town with no development,” the report quotes one interviewee as saying.
Still, there’s opportunity here for investors, the “Emerging Trends” report notes. “A classic buy-low, sell-high market, Atlanta once again may be ripe for investment,” it says. “There may be no better time than right now because real estate markets have been in the dumps.”
“Emerging Trends” paints a particularly bleak picture of the Atlanta office market. “Tenants readily take advantage of an exceedingly soft office scene, deflated by a spurt of pre-2008 projects centered in uptown Buckhead,” the report says. “The new developments attract occupancy with sweetened tenant-concession deals, robbing from existing buildings whose cash-flow outlooks tank.”
Ticket prices range from $25 to $69 and vary based on a number of factors, including whether you are a ULI member and whether you work in the public or private sector. For complete details, visit the ULI Atlanta website.
