ATLANTA & WEST MIDTOWN MARKET OVERVIEW OVERVIEW OF TRENDS - - PowerPoint PPT Presentation
ATLANTA & WEST MIDTOWN MARKET OVERVIEW OVERVIEW OF TRENDS SHAPING THE ATLANTA MARKET 1 TABLE OF CONTENTS I. Atlanta Market Overview I. Population & Demographics II. Market Facts & Trends II. Midtown and West Midtown Market
ATLANTA & WEST MIDTOWN MARKET OVERVIEW
OVERVIEW OF TRENDS SHAPING THE ATLANTA MARKET
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TABLE OF CONTENTS
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Current Population
Projected population growth over the next 5 years
Median Household Income
Projected increase in Median Household Income
Source: U.S Census Bureau, Esri forecasts for 2016 and 2021
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POPULATION & DEMOGRAPHIC TRENDS Atlanta ranks 3rd in population growth in the U.S. 1/3 of the growth is attributed to domestic migration.
JLL graph
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POPULATION & DEMOGRAPHIC TRENDS Since 2011, there have been over 413,000 jobs created in the Atlanta Metro Area.
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POPULATION & DEMOGRAPHIC TRENDS Atlanta is on of US’s top relocation cities and has the 3rd largest concentration of Fortune 500 Companies in the U.S.
JLL graph
Source: JLL Research –Atlanta Q4 2016
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POPULATION & DEMOGRAPHIC TRENDS
JLL graph
Source: JLL Research –Atlanta Q4 2016
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POPULATION & DEMOGRAPHIC TRENDS
Source: JLL Research –Atlanta Q4 2016
More and more companies continue to relocate to Atlanta thanks to its favorable cost of living, quality of education, tax benefits, and more. Companies currently eyeing Atlanta for their North American Headquarters include;
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POPULATION & DEMOGRAPHIC TRENDS Population growth is driving employment growth
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POPULATION & DEMOGRAPHIC TRENDS Atlanta employment distributed across industries
JLL graph
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JLL graph
Boasting a highly educated population, Atlanta Metro is home to world renown educational institutions with a pipeline for talent of
current graduate and undergraduate students across 66 colleges and universities.
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POPULATION & DEMOGRAPHIC TRENDS The percentage of the city’s core constituent workforce (those aged 25-64) who have a Bachelor’s degree or higher is in excess
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POPULATION & DEMOGRAPHIC TRENDS Atlanta is ranked as
cities in the U.S.
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POPULATION & DEMOGRAPHIC TRENDS The average household spends over 40% of their total food expenditures on food away from home. This accounts for 5.6% of their total expenditures and accounts for over 8.2 Billion in revenue.
7.5%
5.6%
31.0% 6.4% 3.1% 15.1% 7.7% 4.4% 1.1% 2.1% 11.0% 5.0%
Food at Home Food Away from Home Housing Household Items & Operations Apparel & Services Travel + Transportation Healthcare Entertainment Personal Care Education Pensions & Social Security Other
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Premier business location, center of innovation and talent and exceptional urban experience
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MIDTOWN ATLANTA Midtown and West-midtown are a commercial and cultural hub located at the center of the Atlanta Metro region.
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MIDTOWN ATLANTA The Midtown and West Midtown caters to Millennials (who are the largest segment of today’s workforce) live/work/play preferences with high-end apartments, an endless supply of food and beverage offerings, and ample entertainment — all within walking distance of public transportation.
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POPULATION & DEMOGRAPHIC TRENDS Today’s young talent is much more concerned with a city’s lifestyle
to follow the talent, investing millions in a new generation of office development and expansion in the country’s leading and secondary markets. Today, Midtown is one of Atlanta's major employment centers with
Annual Economic Impact
Daytime Workers
Increase in new jobs forecasted over the next 10 years
Median Household Income with projected 13% increase in the next 5 years
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POPULATION & DEMOGRAPHIC TRENDS More than 13,000 technology companies calling Atlanta home with a large majority of them flocking to Midtown.
Source: JLL Research –Atlanta Q4 2016
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POPULATION & DEMOGRAPHIC TRENDS Recent Leases Signed in the Area
RSF: 62,467 RSF: 100,000 RSF: 67,960 RSF: 41,231 RSF: 34,078 RSF: 46,000 RSF: 240,500
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People visit Midtown each year
events take place in Midtown each year
Art & Cultural Institutions Include:
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Rooms in a variety of luxury, boutique and historic hotels
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Located in the West Midtown District, Georgia Institute of Technology Campus, and its 1.4 million square foot Technology Square, leverages resources such as research, education, hospitality and retail for collaboration with Atlanta's growing tech companies.
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GEORGIA INSTITUTE OF TECHNOLOGY
#1 FOR WOMEN ENGINEERS
AWARDS MORE ENGINEERING DEGREES TO WOMEN THAN ANY OTHER SCHOOL
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Midtown is one of Atlanta's most coveted residential markets offering big city life with a neighborhood feel. Resident population is growing 5 times the city rate with 68% of the residents holding graduate degree or higher.
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Housing choices within a 3 mile radius of Midtown.
Residential units are currently under construction within a 1.2 mile radius
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Spanning from the southern tip of Howell Mill Road to 17th Street –West Midtown is centrally located minutes from downtown, Buckhead, and all of Atlanta’s major highways and interstates, as well as Georgia Tech.
“the hottest neighborhood in ... metro Atlanta,” with “easy access to top dining and retail, as well as live music venues.”
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Once largely industrial, West Midtown is now
communities in Atlanta with a selection of urban lofts, art galleries, live music venues, retail shops, restaurants and modern office space.
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RETAIL MARKET FACTS & TRENDS
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RETAIL MARKET FACTS & TRENDS
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RETAIL MARKET FACTS & TRENDS New restaurant concepts join a growing entertainment district in Atlanta’s Westside that includes Top Golf Midtown, Bacchanalia restaurant and breweries including Monday Night, Scofflaw, Second Self and Red Brick.
Holler & Dash Biscuit House, a fresh new concept by Cracker Barrel Old Country Store Inc. debuts in West Midtown Atlanta as it targets the millennial consumer. Brewed to Serve Restaurant Group,
The Bold Monk, a brewery, restaurant and beer garden to be located in a 12,000 square foot space in Third & Urban’s Complex West Midtown project. After participating in Atlanta's Food & Wine Festival for the past 5 years, Florida based 4 Rivers Smokehouse opens its first Georgia location in West Midtown Atlanta.
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Retailers in Midtown and West Midtown account for over
Annual Sales
STAR METALS ATLANTA has been designed from the ground up to meet the needs and demands of today’s creative class, by creating a connected lifestyle that the smart and tech-savvy enjoy. Inspired by neighbors like Georgia Institute of Technology and Internet icons like Google and Facebook, our cutting-edge technology permeates every aspect of
CL ASS A OF F I CE
PRI ME RETAI L
LUXURY RESI DENCES
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STAR METALS ATLANTA
/ OFFICES / / RESIDENCES /
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STAR METALS ATLANTA
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STAR METALS OFFICES RETAIL
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STAR METALS OFFICES RETAIL
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STAR METALS OFFICES ROOFTOP RESTAURANT/TERRACE
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STAR METALS RESIDENCES RETAIL
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STAR METALS RESIDENCES RETAIL
Natalia East Associate, Brokerage Services
natalia@allenmorris.com
The Allen Morris Licensed Broker and Coldwell Banker Advisors obtained this information contained within sources we believe to be reliable. However we have not verified its accuracy and make no guarantee, warranty or representation about it, It is submitted subject to the possibility of errors, omissions, change of price, rental and other conditions, prior sale, lease or financing or withdrawal without notice. We include projections, assumptions or estimates for example only, an they may not represent current or future performance of property. You and your tax advisors should conduct your own investigation of the property and transaction.
Thad Adams
tadams@allenmorris.com
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