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Bob Peterson Carter Bisnow Breakfast Schmooze State of the market W hotel Midtown
Two local real estate titans tell us Atlanta CRE has a ways to go before anyone can really call it better. Carter's Bob Peterson (above) and Larry Gellerstedt, who head up Cousins Properties, both say things are getting better, but without jobs, it will be a shallow recovery for metro Atlanta. ?In general, ours is one of the worst office markets in the country right now and that's due to the job market,? Bob (seen here) says, adding that rents continue to fall and expenses keep going up for owners of multi-tenant office properties. ?And I'm not sure that's going to change any time soon.?
larry gellerstedt cousins properties bisnow breakfast schmooze state of the market
Both Bob and Larry (above) are panelists for this Friday's BisnowBreakfast and Schmooze on the State of the Market, 7:30am in the W Hotel Midtown (get tickets here for what's turning into a very popular event). Other illustrious speakers are Wells Real Estate'sLeo Wells, Prudential's Dale Taysom, Goldman Sachs' Rod Reppe, and Matthew Rocco with Grandbridge Real Estate Capital. On theleasing side, Larry says Cousins is having its best year since 2007, with companies finally making decisions. Unfortunately, the activity is either renewals or inter-market moves—well before many companies' natural lease expirations. ?As long as we're robbing Peter to pay Paul … it's not really new absorption,? he says. ?I think thejury is still out on what 2011 is going to look like.?