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TCN Worldwide Market Minutes PodcastAuthor: TCN Worldwide
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Ep. 21 Ash Parker & Jeff McMullen: The Capital of The South — Atlanta's Office & Retail Market
Episode 21
Thursday, 2 February, 2023
Description In this episode, we speak with two top agents from long-time TCN Worldwide member firm, Richard Bowers & Company in Atlanta, Georgia. Ash Parker, a top office broker, shares his thoughts on Atlanta's office market and Jeff McMullen, Atlanta's retail expert, speaks to the changing face of Atlanta's retail landscape. Ash Parker discusses how the office market has faired since the pandemic started and what he's seeing as people return to office properties in terms of vacancy and cap rates as well as what amenities and locations are having the most success in attracting people back to the office. Retail expert, Jeff McMullen, discusses CAM expenses, how rental rates and vacancies have shifted as well as the lead time retail tenants should expect when moving within Atlanta's competitive retail market. Key Discussion Points [00:17] Welcome and introduction by Eric Odum [00:32] About our guests: Jeff McMullen and Ash Parker [01:39] What's going on in the Atlanta Office Market? [03:03] Taking the Covid pandemic into account, how has Office faired in Atlanta compared to the rest of the country? [06:02] Jeff, tell us how the town center (called the battery) around the stadium might dovetail with office and retail [08:28] What are the Atlanta trends in vacancies post-covid? [10:01] Jeff, What are you seeing with CAM expenses per square foot? [10:32] Ash, what are you seeing on the office side as far as vacancies and rental rates [15:59] Jeff, for both retail tenant and investors sides, where in Atlanta can I go for value? [18:06] What time of lead time should be expected for retail tenants to find good locations? [21:04] Ash, if I'm an investor in Atlanta and looking for value in office - where would I go? [24:20] So is the overruling theme here accessibility? [25:57] What conclusions can we draw over the next 12 months for the retail space? [27:50] Based on our discussion, what conclusions can we draw for the next 12 months? [32:12] Any final thoughts? (i.e. on the future of office space? Retail? How Covid changed things, etc..)
