Eventhought the Atlanta commercial market is still reeling from the current economic downturn, it does not mean investors have stopped looking for great properties at an affordable price. The vacancy rate in Atlanta is still high, roughly 17.6 and possibly climbing, but market bottoms create unique opportunities for investors. According to Chris Macke, a senior real estate strategist in Washington with real estate services firm CoStar Group, “There’s more money looking for deals but at the same time, there aren’t as many deals on market, so it’s just skewing things,” Macke said. “It’s almost an artificial environment on the sales side.” What does this mean for the Atlanta commercial market? Rental rates are still quite low, but quality commercial property is still selling for a premium. Ok, maybe not a premium, but the high demand for quality buildings definitely raises prices on the supply side for commercial property.
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