Atlanta Olympics Lift Real Estate Market

By Schwartz, Jerry | THE JOURNAL RECORD, November 25, 1994 | Go to article overview

Atlanta Olympics Lift Real Estate Market


Schwartz, Jerry, THE JOURNAL RECORD


ATLANTA _ With the city as host of the 1996 Olympic Games, Atlanta's commercial real estate market has surged.

Even with large construction projects directly and indirectly related to the Olympic Games, prime office and industrial space is at a premium and could become even more difficult to find as the summer of 1996 approaches, the city's business and real estate leaders say.

From a high of 20 percent in the fourth quarter of 1992, the vacancy rate for office space in metropolitan Atlanta had fallen to 13 percent by the end of September, according to Jamison Research Inc., an Atlanta-based commercial real estate research company.

The vacancy rate for class A, or prime, office space was estimated at 10 percent and falling.

Outside the central business district, only 2.28 million square feet was available from a total inventory of 31.26 million square feet, for a vacancy rate of 7.3 percent, Jamison reported.

Since the beginning of the year, average rents in the hottest submarkets have jumped an average of $3 to $4 a square foot, to $20 to $23 a square foot, the company said.

As the Olympics approach, there is renewed interest in downtown space as well. This is reflected in the declining vacancy rate, from 30 percent in 1992, when three major office towers were completed, to about 16.5 percent at the end of the third quarter.

"We do not have large contiguous amounts of office space to offer companies wanting to move to downtown or any other part of this region," said Gerald L. Bartels, president of the Atlanta Chamber of Commerce, at a news conference last month called to discuss Atlanta's real estate boom.

International interest in Atlanta is behind much of the commercial real estate growth. Last month, Atlanta-based ISES Properties announced a $180 million hotel, retail and commercial development in downtown Atlanta anchored by a $50 million, 318-unit Holiday Inn Crowne Plaza hotel financed primarily by investors from Hong Kong.

A survey last month of members of the Association of Foreign Investors in U.S. Real Estate, representing approximately half of all foreign real estate investment, named Atlanta as "the most viable city for foreign real estate investment."

In that survey, Atlanta leapfrogged Washington and New York, which had finished first and second, respectively, ahead of Atlanta, last year.

Along with the city's general economy, the Olympics designation lures investors, according to Jim Fetgatter, chief executive of the association. …

The rest of this article is only available to active members of Questia

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Buy instant access to cite pages or passages in MLA 8, MLA 7, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

(Einhorn 25)

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Note: primary sources have slightly different requirements for citation. Please see these guidelines for more information.

Cited article

Atlanta Olympics Lift Real Estate Market
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Help
Full screen
Items saved from this article
  • Highlights & Notes
  • Citations
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

matching results for page

    Questia reader help

    How to highlight and cite specific passages

    1. Click or tap the first word you want to select.
    2. Click or tap the last word you want to select, and you’ll see everything in between get selected.
    3. You’ll then get a menu of options like creating a highlight or a citation from that passage of text.

    OK, got it!

    Cited passage

    Style
    Citations are available only to our active members.
    Buy instant access to cite pages or passages in MLA 8, MLA 7, APA and Chicago citation styles.

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

    1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

    Cited passage

    Thanks for trying Questia!

    Please continue trying out our research tools, but please note, full functionality is available only to our active members.

    Your work will be lost once you leave this Web page.

    Buy instant access to save your work.

    Already a member? Log in now.

    Search by... Author
    Show... All Results Primary Sources Peer-reviewed

    Oops!

    An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.