Georgia is a top prospect for commercial real estate investors and developers. Why? For starters, the state has a large and growing population. Additionally, it has a reputation for being a great place to do business, named the best US state for business from 2013 to 2022. The state’s culture, arts and community landscapes are becoming more robust and conducive to business as a result of major developments like Tyler Perry’s 37-acre expansion of Tyler Perry Studios in Atlanta, which Calloway Title & Escrow helped close, and preparations for events such as the 2026 FIFA World Cup.
In addition, Georgia offers business owners reasonable tax rates, business support programs, a strong university-to-workforce pipeline, easy access to national and global markets, a workable time zone for operation, as well as many success stories. According to this article, “More than 1 million businesses sustain the state’s entrepreneurial scene, providing employment to over 40% of Georgia’s workforce. That’s in addition to more than 50 Fortune 500 and Fortune 1000 companies and the state’s long list of successful startups, such as BitPay, Calendly, One Trust, and Lending Point.”
This article from Offices.net states the following:
Top industries in Georgia include:
- Agriculture, which is boosted by the adoption of advanced technologies that have helped create a strong agribusiness sector.
- Aerospace manufacturing, since Georgia is a leading exporter.
- Logistics, thanks to a solid infrastructure and a central location that allow the efficient movement of goods, either via the state’s extensive road network, the port of Savannah, or Hartsfield-Jackson airport.
- Technology, being especially strong in cybersecurity, fintech, and Internet of Things technologies.
- Media and entertainment, as Georgia ranks high for entrepreneurs in film, digital media and gaming industry.
- Health and life sciences, supported by excellent research facilities and strong ties between leading educational institutions and industry actors.
Changes to the Office Sector
Being on lockdown for nearly two years changed how we live, play and work for good. Following the pandemic, the office sector has called for more creative thinking in order to get businesses and their employees out of their homes and back into the office. Today’s investors have considered everything from indoor air quality to walkability, hotel-like amenities and more.
The next generation of professionals is shaping the future of the industry and landscape of office buildings in Georgia, and they favor authenticity above all. Millennials and Gen-Z employees want to see spaces with open floor plans and natural light that encourage collaboration. They also place importance on the location of the office building itself, wanting to be in close proximity to public transit, nearby conveniences and places that have a local flavor and uniqueness rather than retail chains.
Overall, it appears that introducing more comforts and incentives to make office spaces “better” than working from home will be the key to winning businesses and their employees over. We also expect to see a gradual shift away from traditional office buildings to more community-integrated offices and mixed-use spaces.
Multi-Family Opportunities in Atlanta
With a strong economy, relatively low cost of living and low unemployment rates, Atlanta continues attracting new residents, named the most sought-after city by US renters. This article from The M Report said, “In April, apartment hunters in Atlanta added twice as many listings to their favorites lists compared to this time last year. Moreover, rental listings in Atlanta attracted some of the highest traffic and high rates of saved searches from renters looking on RentCafe.com for a place to live.” It is clear that there is demand for more multi-family developments and steady rent growth in Atlanta, which means greater earning potential and return on investment for investors.
Calloway Title has helped close the deal on many multi-family projects in Atlanta, around Georgia and in other states. Some of those projects include Twelve Centennial Park, a condominium building that is the 16th tallest building in Atlanta, Serenbe, an urban neighborhood with a communal backyard, The Tide, luxury condominiums in Charleston, SC and more. See our portfolio here.
For investors and developers with experience in the multi-family sector, build-to-rent communities may be your next big opportunity. Homeownership remains a vital part of the American dream for many individuals and families, but it’s not attainable for everyone – especially in this difficult market. Would-be buyers are facing low inventory, and many don’t have the means to save for large down payments. Build-to-rent allows tenants to enjoy the private space and amenities that come with homeownership. “Build-to-rent homes typically are new, resemble their for-sale counterparts, and offer a taste of homeownership without steep purchase prices, maintenance costs, real estate and school taxes, or homeowners association fees,” according to this article. “Because the rents are comparable to traditional apartment leases of similar size and quality, they typically lease quickly—meaning they’re helping to fill the country’s huge housing shortage.”
Calloway Title and Escrow is here to help you take advantage of every opportunity in Georgia and beyond. Contact our team at www.titlelaw.com to get started on your next commercial deal. We look forward to being a part of your success story!