ATLANTA—Lots of demand and limited inventory. That’s the storyline about Atlanta retail these days.
We know that population and employment growth are driving a retail resurgence in Atlanta. We know that the retail recession recovery is on overdrive.
But what’s actually happening on the ground? We caught up with Monetha Cobb, managing director of Franklin Street of Atlanta, to ask her a series of pointed questions about Atlanta’s retail market.
The first question is broad but her answer is telling: What trends are you seeing in the Atlanta retail market?
“We are seeing lots of demand in conjunction with limited inventory, especially in markets where density and income are above average and climbing,” Cobb tells GlobeSt.com. “There is so much demand for high-profile submarkets that whatever is available is out-pricing many users.”
According to Cobb, space is limited for everything from in-line shops and outparcels, all the way up to junior boxes. Against this backdrop, she says, many concepts are beginning to entertain more non-traditional locations in order to expand, especially in what each considers their “core market.”
“Land prices continue to rise, which is limiting many concepts that have historically grown through new construction,” Cobb says. “Restaurants remain the hottest retail category coming to the city, ranging from fast food to high-end. Chef-driven restaurants continue to be hugely successful, so much so, they have ventured into secondary markets and have been met with huge demand. The competition for restaurant space is intense, and in many areas has created a bidding war for the right space.”
