Housing Needed To Restart Retail

Cooper Carry's Angelo Carusi, who focuses on retail and mixed-use, says Atlanta has a little more time to see a solid retail recovery. “It is clear that there are certain parts of the country that are very strong. And it's clear that Atlanta is not one of them,” he says. “Retail follows rooftops. And no one has moved in the last six years.” (We've all gotten too comfortable with the feng shui of our current locales.) But Angelo concedes that seems to be changing now, with the housing market starting to show signs with resales and even in some development. But real new household growth probably won't happen in 2014. 

Cooper Carry's work certainly follows this view. Its picked up some 120 new projects—including 3M SF of retail and 1.2M SF of residential—everywhere but Atlanta. The projects include a Hilton-flagged 600-room convention center in Cleveland and a DC's largest hotel, the 1,175-room Marriott Marquis. But there's one area here Angelo is bullish on: Central Perimeter, which "is about to see a lot of activity.”

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's Atlanta Newsletters
Related Stories

Federal Government To Sell Nearly 31K SF In Five Points: The Denver Deal Sheet

Avison Young Had Assets Frozen By Bank Over Unpaid Taxes

Artificial Intelligence Companies Reshaping Dublin Office Demand As OpenAI Confirms HQ

Mars Factory Overhaul Stalls As Candymaker's Chicago Expansion Accelerates

Camden Property Trust Sells West Coast Portfolio, Clears $1.5B Target

Emory Takes Over Proton Center For $82M: The Atlanta Deal Sheet

Empire State Building Observation Deck Hemorrhaging Visitors, Value

Cortland, Pulte, INVH, Walker & Dunlop Execs Talk Changing Demographics, AI

Dewberry's Midtown Eyesore Quietly Resolves $75M Mortgage

America's War Machine Is Growing, Sparking A Defense Real Estate Boom

Boca Raton's New Leaders Throwing 'All Kinds Of Curveballs' At Developers

CBRE Posts 16% Revenue Growth In Q2 As Data Center Business Shines