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June 22, 2022

'We Got All We Need': Sandy Springs Plans To Reject New Apartments For 3 Years

Join Georgia Department Of Economic Development Chairman Pat Wilson At North Fulton CRE Opportunities On August 30

The mayor of Sandy Springs, Georgia, told developers at a Bisnow event last week not to bother proposing new apartment buildings in that city for at least three years.

'We Got All We Need': Sandy Springs Plans To Reject New Apartments For 3 Years

Sandy Springs Mayor Rusty Paul said at Bisnow's Central Perimeter event June 16 that the city needs to encourage for-sale housing, especially for entry-level buyers, because more than 60% of the city's housing stock is rental. Paul won a third term as mayor last November.“For…

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Mill Creek Proposes New Development In Westside Atlanta

Mill Creek Proposes New Development In Westside Atlanta

The nation's third-most-active multifamily developer is taking on a new project on Atlanta's Westside.A special administrative permit was filed with the city this month for a new, mixed-use development atop a three-level parking deck at 576 Northside Drive. The project would be dubbed Modera Westside; 

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Nearly 20M SF Of Spec Lab Construction Is Available As Demand Is Set To Drop

Life sciences real estate has been growing so fast that experts have often described it as akin to a car speeding down the highway. But as markets digest a cascade of bad news, from a pullback in venture capital investment to concerns over stagflation and fears of a recession, speed bumps are starting to emerge for lab developers.

Of the 29.1M SF of lab space expected to be under construction in the next two years, 26.2M SF is being built speculatively, according to CBRE. Just 26% of that space is pre-leased, showing how aggressively developers have built for an industry that has long been considered a risky bet.

While analysts and experts in the life sciences don't expect a crash landing — too much money has been raised by companies that need lab space — the mood in the industry has darkened in the last six months as valuations of biotech companies have fallen.

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This Week's Atlanta Deal Sheet

This Week's Atlanta Deal Sheet  

Strong demographics and the state's most popular Sprouts Farmers Market has helped a prominent North Atlanta retail center trade for nearly $100M.

Baltimore-based Continental Realty Corp. purchased The Shoppes at Webb Gin, a 330K SF lifestyle center in Snellville, 25 miles north of Downtown Atlanta in Gwinnett County, from Olshan Properties for $97M, or $294 per SF, according to a press release. Stan Johnson Co. Managing Director Margaret Caldwell and Associate Director Patrick…

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