When it comes to office in Atlanta, the address has become what matters. A Peachtree address, that is. Niles Bolton's Stephanie Kirkpatrick told our audience of more than 300 real estate pros at last week's Future of Buckhead event that office in Atlanta has been coming back, but “the Peachtree address [is] becoming very, very critical.” For companies looking to recruit and retain employees, the address prestige is a luring factor. “Some of the more classic trophy buildings that were on Peachtree Road...are now being repositioned as extremely viable products for current users,” she says.
Stephanie was part of a panel that included AGH's Randy Gold (not pictured), DPR Construction's Russ Brockelbank, EDENS' Herbert Ames and Buckhead CID's Jim Durrett. Both Phipps Plaza and Lenox Square Mall remain the main shopping destinations in Buckhead, Herbert says, adding that they're among “the best malls in the country” with shoppers traveling as much as 100 miles to come to them. That said, Herbert says you're seeing a more “intimate” shopping experience focused on walkability with Buckhead Atlanta. And the apartment explosion in Buckhead will only add to the foot traffic density.
Traffic is still an issue in Buckhead, especially with so many people moving into the area, and that means there needs to be a “serious conversation as a region” on mass transit funding as a whole instead of focusing on whether or not bike lanes will be going through Buckhead Village, Herbert says. Jim (here) says part of the road redesign will be adding a center turn lane, which will address traffic problems. Jim also says he hopes Buckhead will be a pilot city for future autonomous vehicle testing.
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