| This year's been a great year for tenants. And a pretty rough year for landlords. And 2013 will probably be the same, according to one of Atlanta's prominent office developers. Childress Klein's Gordon Buchmiller says a lack of new jobs and a steady stream of distressed properties continue to complicate the landscape for office landlords. So as new owners take over foreclosed offices and lower rents, it's forcing other landlords to compete for what's amounted to too few tenants in the marketplace. ?For offices, it's all about job creation. And we just haven?t had that,? Gordon says. | ||
| That said, Childress Klein has had its share of leasing success, including securing Travelport?s 130k SF renewal at 300 Galleria earlier this year. ?That was a very important transaction for us,? Gordon says. ?And we have started to see more activity in the third quarter than we've seen in awhile.? Gordon will be on tap Dec. 18 for Bisnow's 2013 Atlanta Real Estate & Economic Forecast at the Grand Hyatt in Buckhead (tickets here). As for new development, Childress Klein has set its sights on the Carolinas where it's building industrial, retail and multifamily. ?Those markets just present more opportunities for us,? he says. ?Nonetheless, it's the first time we put a shovel in the ground in a number of years.? |
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