Commercial Real Estate, Capital, Insurance, Leasing & Management

Southeast Real Estate Business: Atlanta Retail is Exceeding Expectations

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As new jobs are created in the metro area, retail developers and investors are actively setting down roots to take part in Atlanta’s growth story.

Atlanta’s retail recovery is taking shape amid a time when the
city is transforming into a destination for corporate relocations and expansions. Microsoft made headlines locally in February when it purchased 90 acres on the west side of town near Westside Park, Atlanta’s largest park and home to the Bellwood Quarry.

The tech giant plans to build a new office campus and data centers at the
site. Microsoft also recently signed a 523,000-square-foot office lease to anchor a new tower within the Atlantic Station development in West Midtown.

Other tech firms such as Google, Airbnb, Zillow, Amazon and Carvana are also expanding their presence in Atlanta to capture the local talent graduating from Georgia Tech and other area colleges, as well as to capitalize on the city’s lower costs of living and doing business. Other companies that are moving headquarters or expanding within the city include Visa, Papa John’s Pizza, Norfolk Southern, Chicken Salad Chick and Deluxe Corp

“The city has always done a good job of bringing in new headquarters like Porsche and Mercedes-Benz, among others,” says Greg Eisenman, senior director of Franklin Street’s Atlanta office. “The fact that we have all these major tech companies looking to invest here, all of that gets retailers excited and it gets employees excited and makes them say, ‘Maybe I should
move to Atlanta.’ Whenever we go out and try and develop new business,
we’re almost always met by excitement about the growth of this market.”

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