JLL’s Director of Research Craig Van Pelt is featured in the weekly publication Real Estate Alert discussing new trends in Atlanta’s office market.
Atlanta’s Midtown district, overshadowed for years by the prestigious Buckhead neighborhood, is emerging as the city’s hottest office submarket.
“Atlanta has had a lot of suburban sprawl in the past,” said Van Pelt, “But now, employers are looking for talent and the younger talent wants to be in Midtown. There is a drive toward walkability, and Midtown offers that experience. It is something that has been absent in Atlanta. It feels like a sea change.” He added: “If you are going to look at where the center of gravity is, that has shifted south toward Midtown.”
While Buckhead stands strong with in established firms i.e. financial services, real estate, insurance brokerage, etc., Midtown attracts the millennial-focused employers and homes 70 percent of Atlanta tech jobs. According to Real Estate Alert, millennials are flocking to Midtown for growth and excitement while Buckhead remains stable with high-quality tenants.
Read the full story here.