Tonya Layman, Atlanta Business Chronicle
Despite third-quarter reports showing an increase in vacancies in downtown Atlanta, there is currently $1.6 billion in investment underway in downtown Atlanta, according to Central Atlanta Progress (CAP). Many researchers, planners and industry professionals agreed that 2021 will be a good year for commercial real estate in the area.
Keith Pierce, vice president of research at Transwestern Real Estate Services, said based on pre-pandemic activity, he is “pretty bullish on downtown, particularly in the long term. It has not been the flavor of the month in recent years. It has been slow and steady for really a decade.”
Downtown will continue to experience modest demand over the next several quarters, assuming the economic uncertainty related to the pandemic eases, he added.
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