The commercial office sector is currently facing challenges, but there may be a light at the end of the tunnel. One project Calloway Title recently closed on at 201 E Main St, Murfreesboro, TN, serves as proof. Despite U.S. office values dropping to 25% below their 2022 peak over the last two years, industry experts see early signs of a turnaround. They believe today’s bear market could present a unique investment opportunity where commercial real estate investors can purchase high-quality office space at a much lower rate.

With doubts surrounding the office sectors’ recovery, Barry DiRaimondo, Co-Founder and CEO of SteelWave, says, “You can convince yourself that it’s going to take ten years or longer to absorb all the vacant space. Now, historically, that never is what happens.”

The market moves in cycles. Right now, the office sector is at the bottom. Still, in this article, DiRaimondo and other professionals agree a “hockey stick” recovery, where the market rebounds from its current low point, is likely on its way.

Return-to-Office Policies

This theory is supported by the increase in back-to-office mandates happening nationwide. It was widely believed that the post-pandemic era would see a permanent shift to remote work. Yet, recent findings suggest otherwise. According to a study by B2B Reviews, 90% of companies plan to implement return-to-office policies by the end of 2024, in either a full-time or hybrid capacity. Hybrid work situations won’t affect the need for office spaces. This article explains, “If you’re required to work three days a week or four days a week, you still need the same amount of office space because people are still coming into the space.”

Opportunities for Investment

Increasing demand for space and solidified return-to-office policies aren’t the only factors making now an interesting time to invest. Other factors include:

• Low Entry Prices: The current bear market offers entry points at significantly discounted rates, attracting both seasoned investors and newcomers. “After years of tabling some deals or sticking to the sidelines, a growing pool of private buyers, owner-users, local firms and smaller asset managers are scooping up properties at a fraction of their previously traded prices,” says this CoStar article. Smaller investors have access to properties that were once out of reach, while large firms seek properties with premium features and amenities to attract employees.
• Leasing Momentum: CoStar also explains, “Developers and landlords are reporting an uptick in tours and leases that, in some cases, echo activity seen before the pandemic.” In addition, companies like Kroger and IBM have also shown a willingness to commit to long-term leases, providing stability to landlords. “The turnaround in leasing follows several years of companies trying to figure out where and how employees want to work — and how much space they need to accommodate those shifts.”[1] [2] 
• Market-to-Market Variability: The recovery is nuanced and varies by region. For instance, some regions in Tennessee outperform others due to factors like tech sector growth and increased job opportunities.

Calloway Title Closes Tennessee Office Building

Our team’s recent closure of a major deal at 201 E Main St, Murfreesboro, TN, is a prime example of capitalizing on current market conditions. We completed the title work and helped close the entirety of the Class B office building. With over 60,000 square feet and multiple tenants, it is strategically located near public transportation and boasts ample parking, making it an attractive proposition for tenants and investors.

Calloway Title is headquartered in Georgia, but top developers and investors nationwide trust us to close deals like this one. Learn more about the office building at 201 E Main St. here. If it’s the right time to invest or develop office space in your local market, we’d love to help you navigate the complexities of this sector and close the deal. Visit www.titlelaw.com to work with us!

From our first t-ball game to our football state final in high school, youth sports make up some of our fondest memories. Now that we’re all grown up, we want the kids in our communities to have the same experience. The increasing demand for state-of-the-art facilities to support youth and amateur sports presents promising opportunities for investors to capitalize on the industry’s momentum and support their communities in big ways, like one deal our Calloway Title team recently helped close.

LakePoint Sports: A Record-Setting Travel and Sports Destination

Based in the greater Atlanta area, the 1,300-acre LakePoint Sports campus is a premier destination for athletic and corporate events. It serves athletes in more than 30 sports year-round, including baseball, basketball, volleyball, soccer, lacrosse, football, gymnastics and cheer. With five million square feet of existing amenities and big plans for the future, including the addition of on-site hotels, restaurants, retail, ziplines, water parks and more, LakePoint Sports is currently the largest sports vacation community in the world, according to the World Record Academy. Its 16 major league baseball fields, 14 soccer/lacrosse fields, 15 fast-pitch softball and junior baseball fields, 20-acre wake park, two Miracle League fields, and 196,000-square-foot indoor facility also make it the largest installation of synthetic sports surfacing in the world.

A commercial real estate project of this size is no easy feat, and when it came to the title search, there was a lot of land to cover. Our team at Calloway Title worked diligently to ensure the property was free and clear of any title defects that could prevent or delay development. We were thrilled to help close this deal to support the health and development of Atlanta youth and our greater community.

Positive Impacts of The Youth Sports Industry

There are plenty of reasons to love youth sports. Not only do they foster teamwork, discipline and a healthy lifestyle among young athletes, but they are also drivers of economic development. Youth sports complexes can draw in millions of local and out-of-state visitors annually. According to this article, a successful facility can lead to growth opportunities in the adjacent hospitality, real estate, dining and retail sectors, which can benefit local property values and regional economic impact. “This sector’s direct spending impact was valued at $39.7 billion in 2021 alone,” according to SportsETA’s 2021 industry report. Wintergreen Research Inc. predicted the youth sports market will grow at a compound annual growth rate of 8.9% until 2028.

Investing in Youth Sports: Key Considerations

Is an investment in the youth sports industry right for you? “When invested wisely and strategically, investments in the future of youth sports could provide not just financial returns but also the enrichment of communities and the nurturing of young talent,” according to this article. Here are a few things to consider before entering into this space:

Research and Due Diligence

Not every youth sports center is successful; like any investment, it’s important to research before getting involved. Understanding market trends, potential returns and the specific needs of sports communities with an in-depth feasibility study is crucial. Evaluating existing facilities and identifying gaps can help investors make informed decisions. It also helps to understand failures and why some communities failed. One cautionary tale exists with Legacy Park in Mesa, Arizona, which you can read about here.

Local Competition and Customer Service

Because the youth sports industry is booming, visitors have options, meaning investors have competition. So, to attract visitors, facilities need to be top-notch. Creating a welcoming and supportive environment for athletes and their families is essential for building a loyal customer base. Thoughtful partnerships and ensuring facility operators and managers exceed guest and customer expectations can help with this. Focusing on innovative technologies can, too. “This includes advanced systems like sports lighting, as well as on-field innovations such as smart backstops and robotic umpires,” states this article.

Shifts in Participation

Another consideration is shifts in youth sports participation, which can vary seasonally and regionally. Investors need to consider these fluctuations when planning their operations. Developing strategies to attract visitors year-round, such as offering diverse sports or events and off-season deals like Pickle and Social in Gwinnett County, Atlanta, can help mitigate the impact of seasonal changes. Venues can also consider building multipurpose playing surfaces.

Learn more about LakePoint Sports here, and remember that Calloway Title can handle your complex deals in any state. Visit www.titlelaw.com to work with us!

As society continues to prioritize health and well-being, real estate developers are focusing on creating spaces that enhance physical, social and emotional wellness. One standout amenity in this wellness real estate movement is the pickleball court. “Pickleball was dubbed the fastest-growing sport in the U.S. by the Sports & Fitness Industry Association, with the number of players older than six years old growing from 4.8 million in 2022 to 8.9 million in 2023,” according to this article. The current demand is so high that the market would need $900 million in investment/construction or 25,000 new courts to keep up with it.

As a result, pickleball courts are being incorporated into residential and commercial developments nationwide as a cost-effective way to add value to a property while attracting new tenants and buyers. While some opportunistic developers have made plans to convert abandoned spaces like shopping malls, others are building from the ground up, like in one recent deal our Calloway Title team helped close.

Introducing Pickle and Social in Atlanta

“We wanted a first-in-class pickleball experience, which means we did a custom build. We have the perfect configuration of ceiling height, colors and windows,” Brian Harper, former director of sales at TopGolf and current COO of Pickle and Social, said in this article. While other pickleball courts and venues opening across Atlanta chose strategic locations near breweries and restaurants, this new “eatertainment” venue decided to combine the pickleball and restaurant concepts into one.

Pickle and Social in Gwinnett County, Atlanta, opened in December, unveiling 16 indoor and outdoor courts, a restaurant and bar, a rooftop lounge and a beer garden. It is the third concept to be introduced under the Competitive Social Ventures (“CSV”) Holding Company. It aligns with their mission to bring people together for FUN and authentic shared experiences by creating an unbeatable atmosphere, innovative play, amazing food and drink and top-notch service.

While pickleball is a highly sought-after amenity in the market right now, Pickle and Social leadership believed it would be their smallest revenue driver. They offer unique programming to fill non-peak hours, such as morning memberships and afternoon round-robin events to combat this. They also focus on strategic food offerings, adding seasonal and geographic cuisines to their menu, have dozens of yard and sports games and frequently host music guests in their amphitheater.  

Strategic Partnerships

Just because something is trending doesn’t make it an automatic success. Incorporating other amenities into a wellness space is a good starting point. Still, strategic partnerships within the sports and wellness industry can provide the credibility you need to create an authentic and successful commercial space. Pickle and Social did a great job at this. They centered their idea around the popularity of pickleball, added other attractive elements and then built a team of experts, including USA Pickleball ambassador and co-owner of the Atlanta Pickleball Association, Chris Wolfe and former NFL Quarterback Danny Wuerffel, who is now a brand ambassador. Pickle and Social’s extensive Corn Hole setup also landed them a partnership with the American Cornhole League, in which they will host televised cornhole tournaments from their Gwinnett location.

Another strategic partnership that aided the project’s success was with our team at Calloway Title. Since this was a ground-up build, our team ensured that the title to the property was free and clear. We worked diligently to get this deal across the finish line so that people in our Atlanta communities could enjoy all this venue has to offer for years to come.

Learn more about Pickle and Social here, and remember that Calloway Title can handle your complex deals in any state. Visit www.titlelaw.com to work with us!

A “first of its kind” affordable housing development at 918 Dill Ave., SW is coming to the Capital View neighborhood in Atlanta, and Calloway Title was honored to handle the title work and closing for this groundbreaking project. Our team is passionate about working on unique projects that make housing more accessible in every state. We aim to help communities and their residents achieve economic stability and opportunities for a more enriching, connected culture.

918 Dill Ave.: Here’s what you need to know

Developers are expanding a commercial building originally constructed in 1930. Our team completed a 100-year search into the property’s title history to ensure the deal was covered properly while helping close it. The ground floor will be transformed to include a community office space, a commercial grocer and three food service providers that aim to bring back opportunities and options around food access in the area, according to this video. Plans also include adding 18 one-bedroom and two-bedroom units on top of the structure that will be reserved for low-income households in the area to rent. This part of the project was particularly complex because the original building wasn’t strong enough to sustain vertical growth. Developers had to build a new structure inside of the existing one that could hold the weight.

“The project is being co-developed by socially minded Atlanta-based real estate companies The Guild and Urban Oasis Development, with the eventual goal being to offer community stakeholders equity in the project upon its completion,” according to this article.Co-op buyers are not purchasing real property, but instead buying shares in the corporation. The estimated price per share is $10.

Why the community ownership model?

“The community ownership model works to preserve community-serving businesses, build community wealth and promote community-led economic development from within,” according to this article. It shifts the power back to the residents, giving them the ability to make decisions that benefit their neighborhood. “Community ownership models are not themselves the endpoint, but tools for repairing longstanding harms and promoting just development without displacement through reshaping relationships between people, place, power and property,” states this article.

Eventually, the development will be completely owned and governed by its residents and those from Capitol View and surrounding SW Atlanta communities via a Community Stewardship Trust. The trust will have a governance model so community members who are now co-owners can decide what will happen to the building going forward, who gets to move into some of the retail spaces, as well as increasing economic mobility.

Why Capitol View?

The goal of this project is to reposition a community that has been declining and dysfunctional. The Capitol View neighborhood dates back to the 1900s, and it’s lost a lot of its business and vibrancy, according to this video. It’s also located in a food desert, meaning there isn’t a lot of access to healthy food. Residents have previously tried to “buy back the block,” which shows determination and makes them a great fit for this type of model. The Guild was quoted as saying, “The fact that they had attempted to do so was encouraging, since working with communities that are already organized ensures that we aren’t helicoptering in solutions.”

Together, we can make an impact and change our communities for the better through commercial real estate projects! Learn more about the development of 918 Dill Ave. here, and remember that Calloway Title can handle your complex deals in any state. Visit www.titlelaw.com to work with us!

A new mixed-use project projected to open at the end of 2026 or in early 2027 is taking shape in Cobb County, Atlanta, and it has a pretty special story behind it. The Henry, named after major league baseball legend and former Atlanta Braves player Henry “Hank” Aarons, will introduce 650 apartments, 54 condos and a 250-key hotel near The Battery and Truist Park.

This new premium housing development represents a partnership between Braves Development Company, Goldenrod Companies and SK Commercial Realty. Holland Basham Architects are in on the deal, and our team at Calloway Title got to hit the title work out of the park (see what we did there) for all parties to the transaction!

Honoring a Legend

Henry “Hank” Aaron’s story is about much more than baseball. There’s no denying that he was a phenomenal athlete. He was a consistent player on the plate and the field over his 25-year career in the MLB. Atlanta Braves fans celebrated his greatness at every game, but in 1973, he was thrust into the national spotlight for breaking one of the sport’s most cherished records: Babe Ruth’s mark of 714 home runs. Hank ended his career with 755 home runs.

Yet, “Hank Aaron’s consistent excellence on the field was overshadowed by the dignity and grace he exemplified throughout his career,” states this article. Hank was widely admired for his character. Shortly after his record-breaking home run, Georgia congressman Andrew Young declared, “Through his long career, Hank Aaron has been a model of humility, dignity, and quiet competence. He did not seek the adoration accorded to other national athletic heroes, yet he has now earned it.” Hank was elected to the Hall of Fame in 1982.

Expanding a Community

Plans for The Henry are well underway, and once completed, the development is expected to play a critical role in the area’s growing entertainment district. In this article, Holland Basham Architects explain, “Amenities will include a gym, a pool, a grilling station, a dog park, bike storage, a coffee shop, a rooftop bar and lounge with views of the Atlanta skyline, and meeting and work-from-home spaces.” It is also in close proximity to Truist Park and The Battery. With the introduction of pedestrian bridges from the hotel to the stadium, baseball enthusiasts and guests will have easy access to games.

Calloway Title’s Role in the Story

Not only did our team recently complete the title work and help close the deal on The Henry, but we also helped close the deal on Truist Park Stadium, meaning those pedestrian bridges aren’t the only thing connecting these two projects. They’re also linked by Calloway Title, which brings us great pride as Atlanta locals and loyal Braves fans.

What we love about The Henry and Truist Park is that they’re creating a unified space that makes it easier for people to come together and connect over their shared interests and love of community. If you have a commercial project that will help expand or enrich your community, we’d love to work with you on it! Calloway Title can handle your complex deals in any state. Visit www.titlelaw.com to work with us!

How are you making an impact? Are you working on a project that will provide affordable housing to underserved communities? Maybe you’re drafting plans for a theatre or stadium to unite people through the arts and entertainment sectors or pushing for more sustainable “green” buildings.

At Calloway Title, we are passionate about working on projects that make a difference in the community, whether your commercial deal is here or in another state. That’s why we’re excited to share about a 2.5 billion dollar deal we recently closed for Qcells, a unit of Hanwha Solutions, that is bringing more jobs and clean energy to Georgia.

Here’s what you should know about Qcells’ and our involvement in this transformative project.

Qcells is part of a South Korean company that makes high-performance solar panels, solar products, intelligent energy storage systems and has a growing pipeline of large-scale renewable energy projects, all of which are typically manufactured outside of the United States.

The company first came to Georgia in 2018 to open a solar manufacturing facility in Whitfield County, employing thousands of Georgians. It has now invested 2.5 billion dollars more, following the signing of the Inflation Reduction Act, to build a new solar manufacturing plant in Cartersville/Bartow County and expand its existing facility in Dalton County. Construction has started, and production is expected to begin before the end of this year. “Between the Dalton and Cartersville projects, Qcells expects to increase the number of employees in Georgia to more than 4,000 by the end of 2024 and bring its total solar panel production capacity in Georgia to 8.4 gigawatts,” according to this article.

This project will aid Qcells’ efforts to establish a complete solar supply chain in the United States. In this article, Qcells CEO Justin Lee says, “We are seeking to further expand our low-carbon solar investments as we lead the industry towards fully American-made clean energy solutions.” The company’s presence here and significant investment are also helping make Georgia a world leader in advanced energy production and attracting next-generation jobs. The new plant will make a national impact, lowering the cost of clean energy and helping combat the climate crisis.

Why Top Developers Trust Calloway Title

Qcells was a huge deal for Calloway Title–one of the largest in our company’s history, and we handled it with great care and attention to detail. We conducted a thorough easement review as part of our survey review process and a 100-year search into the property’s title history to ensure that the deal was covered properly while helping close it back in December. We learn a great deal from every new transaction and adapt accordingly, but what always remains the same is our quick responses to emails, our availability for phone calls and our commitment to 24/7 customer service.

Together, we can make an impact and change our communities for the better through commercial real estate projects! Learn more about Qcells’ Georgia expansion here, and remember that Calloway Title can handle your complex deals in any state. Visit www.titlelaw.com to work with us!

What is the Corporate Transparency Act?

The Corporate Transparency Act (CTA) is a new law that went into effect on January 1, 2024, requiring small and medium-sized businesses to file Beneficial Ownership Information (BOI) to the U.S. Department of Treasury’s Financial Crimes Enforcement Network (FinCEN).

What is Beneficial Ownership Information?

BOI refers to the identifying details about individuals who directly or indirectly own or control a company. “This information includes the names, dates of birth, addresses, unique identification numbers and government-issued IDs of each owner of more than 25% interest in a company and everyone who has substantial control over the business,” according to this article written by a New England attorney. Reporting requirements may vary in cases of exempt entity ownership, minor child ownership, foreign pooled investment vehicles and for company applicants before 2024.

Why was this legislation passed?

The Corporate Transparency Act is a response to rising concerns about financial crimes and fraud, a growing threat to our industry and many others. Some of the goals of this legislation are to enhance transparency around ownership and control of corporate entities, to assist FinCEN in tracking financial crimes and safeguarding the integrity of the U.S. financial system and to help identify businesses that have been used to conduct illegal financial activities. Businesses that don’t comply with the CTA or file properly could face consequences, including prison time and hefty fines.

Who needs to file a Beneficial Ownership Report?

“Most of the approximately 33 million small businesses in the United States will be required to file with FinCEN,” according to this same article from the New England Biz Law Update. Whether your business is just forming or has been up and running for years, it will likely qualify as a reporting company–domestic or foreign– that must submit identifying information about its owners. However, some large businesses, nonprofits and public companies, including banks, credit unions, insurance companies, accounting firms, government groups and more, are exempt and do not need to file a report.

When does the BOI report need to be filed?

The BOI filing dates are as follows, according to this article by Wolters Kluwer:

• A domestic reporting company created on or before December, 31, 2023, must file its initial BOI report by January 1, 2025.
• A domestic reporting company created on or after January 1, 2024, and before January 1, 2025, must file a report within 90 calendar days of receiving actual or public notice that its creation has become effective.
• A domestic reporting company created on or after January 1, 2025, must file a report within 30 days of the date on which it receives actual or public notice that its creation has become effective.
• If the information about the reporting company or its beneficial owners changes, the reporting company must file an updated report within 30 days after the change occurs.
• If a report was inaccurate when filed, a corrected report must be filed within 30 days after the reporting company becomes aware of or has reason to know of the inaccuracy.

At Calloway Title, our goal is to ensure that our clients and their commercial real estate transactions are safe and secure from illegal activity, and this new legislation will help us achieve that goal. Understanding your BOI filing requirements and deadlines under the CTA is extremely important, and we’re here to support you in every way we can. Visit www.titlelaw.com to work with us!

The 2023 holiday season has commenced, and it’s got our Calloway Title team feeling extra sentimental. We have so much to celebrate and be thankful for, but one thing that tops our list every year is our late founder, S. Marcus Calloway. Marcus dedicated his life to the family-owned business that is Calloway Title. While a lot has changed since its inception, the values and principles that guide us have remained the same.

Today, we’re taking a moment to share our story and reflect on how we got here.

Accomplished Attorney to Commercial Business Owner

Respect all. Fear none. Expect Victory. That’s the motto that our founder lived by and what he attributed most of his success to. In 1976, Marcus was admitted to the State Bar of Georgia and became laser-focused on real estate law and commercial title. He opened S. Marcus Calloway, P.C. in 1977, but that wasn’t enough. He wanted to make a bigger impact, so in 1989, he partnered with Ramsay and Calloway Title Services Inc. before forming Calloway Title and Escrow, LLC in 1996.

As a member of various associations, frequent presenter at real estate seminars and recipient of awards like The George A. Pindar Award from the Real Property Law Section of the State Bar of Georgia in 2013 and Title Person of the Year by the Southeast Land Title Association in 2017, Marcus quickly made a name for himself in both the title and law industries. The more opportunities Calloway Title gained, the more Marcus poured back into the community. He supported various non-profit organizations and even brought professional rugby to Atlanta.

Leaving A Legacy

Marcus and his managing partner created a working environment where the best and brightest minds in the industry felt empowered to excel. Over the years, the Calloway Title team has grown into a family–some by blood and others by choice. Marcus set the standard for commercial title insurance, but above all, he was a stand-up person. Because of that, our team takes a straightforward approach to every transaction, with no shortcuts, and we put the needs of our customers first.

The Next Generation

Fast forward to now…our company is run by managing partners Amanda Calloway (Marcus’s daughter) and Kyle Levstek.

Amanda is a proud leader who entered the field of law quite naturally, following in her father’s footsteps. Like Marcus, she’s advancing her career and making an impact on others. She periodically speaks at her alma mater to share her expertise with the next generation of lawyers, is the current chair of the Real Property Law Section of the Georgia State Bar and supports many non-profit organizations. Kyle Levstek also serves on the Real Property Law Section with Amanda and has been with the firm for 23 years. They, along with the rest of our leadership team, are dedicated to keeping Marcus’s legacy and bright spirit alive, while also making some necessary technological advancements and changes to the process–it’s almost 2024, after all. We hope this blog serves as a reminder for us to respect all, fear none and expect victory when we work together. We wish you a happy holiday season with the family members that are here and the ones that are here in spirit. Visit www.titlelaw.com to work with us.

With the environment and health and wellness on everyone’s mind in recent years, we’ve seen an increase in demand for green buildings, especially in office, retail and mixed-use spaces. While this is becoming a trend all over the nation, Georgia ranks among the top ten states leading the way on green building. 

Benefits of Green Buildings 

Besides the obvious benefit of making a more positive environmental impact, green buildings are often more desirable to consumers and easier to lease. High-quality tenants are willing to pay a premium for green spaces, and owners see a higher return on their investment. Local and state governments also offer grants and loans to aid with building costs, as well as other incentives. In general, green buildings are built to last and have a higher real estate value. 

“The benefits for tenants leasing space in a green building can include lower utility costs, improved health and increased productivity,” according to The Importance of ‘Greening’ Your Commercial Lease by Katherine Oberle and Monica Sloboda. 

Green buildings are designed to be energy-efficient and provide a healthy and comfortable indoor environment. They use materials that reduce indoor air pollutants and provide natural light, making them more enjoyable to work, live or shop in. An additional benefit of leasing a green space is that it sends a message of corporate responsibility to investors, clients and customers. This is particularly important as more consumers favor natural products and companies that prioritize sustainability. 

Getting a “Green Lease”

“Greening” your commercial lease ensures that the building stays green. It holds both parties accountable by establishing who is responsible for covering utilities, furnishings, cleaning products, practices and more. With a green lease, tenants have a legal responsibility to maintain green initiatives, and owners are liable for acting in the best interest of the building and the greater environment.

Green Initiatives 

There’s more than one way to “go green” in commercial real estate, and there are multiple green building standards used in the industry, including LEED®, Green Globes and ENERGY STAR®. As environmental restrictions and regulations continue to tighten, technology and green initiatives will advance to become more innovative and effective. Six up-and-coming initiatives are prefabricated construction, passive solar building, green roofing, recycled insulation and materials, green retrofit and architectural film and biowalls. These thoughtful solutions go beyond external additions such as solar panels and focus on repurposed materials and alternatives to traditional construction methods which are incorporated into the building itself.

Trust Calloway Title with Your Next Green Build

At Calloway Title & Escrow, we love working on projects that make a positive impact on the environment. We have experience working on green projects in and outside of the state of Georgia, including Atlanta’s Avalon, a unique retail community that is also an earth-friendly green space and home to 2,800 trees. You can trust our experienced and personable team to help you close the deal on your next commercial project, no matter how complex. Visit www.titlelaw.com to get started.