Bob Peterson on Bisnow Office Market Panel; Scott Cloud Writes for Atlanta Business Chronicle
As one of the nation’s leading investment, development and advisory firms, our real estate professionals are often sought out to weigh in on the latest trends and provide an expert opinion on the future outlook of the real estate market. This week, two of Carter’s thought leaders have earned positions within the local media here in Atlanta.
Yesterday morning, CEO & chairman, Bob Peterson, was one of seven to panelists at Bisnow’s 2nd Annual Atlanta State of Office event. This panel featured a powerful line-up of real estate executives offering up their perspectives on Atlanta from both a local and national outlook. The discussion centered on the challenges that the rebounding office market in Atlanta is facing, namely issues with education and transportation. Bob relayed some recent feedback he received from an investor, “No one likes the Atlanta market right now, but everyone wants to be here.” He also commented, “Education and public schools are the most important issues facing this city right now.”
Another topic was the educated workforce in Atlanta, in particular the surging number of students in Atlanta. There are 57 colleges and universities in the region with more than 250,000 students enrolled every year, generating a $10.8 billion impact on the state. Additionally, Atlanta ranks 7th in the nation for student enrollment, just behind Washington, D.C. and Philadelphia. According to the Metro Atlanta Chamber of Commerce, Atlanta is a national leader in attracting college-educated 25-34 year olds, the most coveted demographic in the country.
On Monday, a blog post written by Scott Cloud, Carter’s senior vice president of Investments, was published on the Atlanta Business Chronicle’s “Real Talk” blog, which covers the commercial real estate industry; the ABC’s commercial real estate editor, Douglas Sams manages and oversees the online content of this blog. Scott’s article titled, “The black eye on Atlanta’s office market has faded”, earned him a featured Monday afternoon spot on the Real Talk blog.
Scott was optimistic about the Atlanta office market, stating that “investor interest in Atlanta office properties is gaining significant momentum.” He went on, “Looking ahead, there are ample reasons to believe Atlanta office investment will continue to grow,” Scott wrote. “For one, metro Atlanta’s unemployment rate is dropping — it has dipped nearly 100 basis points over the last year to 8 percent in August. Job growth drives demand for office space, and the outlook for Atlanta employment is positive.”
Scott concludes, “With respect to the wonderful stories going on in Charlotte, Raleigh and Nashville, Atlanta remains the capitol of the South, and investors are once again remembering why.”