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December 20, 2023

'Everything Has Changed': 2023 Brought A Reckoning For Atlanta CRE

With Major Medical Centers Heading To The Suburbs, Will Medical Office Buildings Follow Suit? Our Panelists Discuss On Feb. 22

There are a few words to describe Atlanta’s commercial real estate scene in 2023: Transitional. Challenging. Sobering.

But perhaps the most representative word for the year that was, above all, defined by the highest interest rates in decades? Purgatory, said RADCO Cos. founder Norm Radow.

“Sellers know they’re going to hell, but they’re grabbing on and delaying what will happen,” Radow said.

'Everything Has Changed': 2023 Brought A Reckoning For Atlanta Commercial Real Estate

The year started off with some hopeful signs for office when MARTA expanded with a 130K SF lease in Uptown Atlanta, taking space previously occupied by AT&T. AT&T even brought some hope back for a return-to-office trend when it leased 120K SF at 1277 Lenox Park Blvd., a building that…

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Tech Firm Relocating Headquarters To New City's Fourth Ward

An Atlanta data security software company is relocating from Sandy Springs to a new office project off the Atlanta BeltLine Eastside Trail.

Tech Firm Relocating Headquarters To New City's Fourth Ward

OneTrust inked a 75K SF lease at Fourth Ward off North Avenue and Ralph McGill Boulevard, where the first phase of the four-building mixed-use campus is nearly complete.OneTrust will move its headquarters from Northpark Town Center in Sandy…

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With Funding Down 42%, Proptech Startups Struggle To Hang On

With Funding Down 42%, Proptech Startups Struggle To Hang On  

The once-booming proptech sector needs a lifeline to keep it going.

Proptech startups spent the previous several years raising billions of dollars from investors hungry to get in on the ground floor of the next sector-disrupting idea. 

But as 2023 draws to a close, it has become clear that investors are now far more cautious about proptech than they were in years past, as many of the big-ticket startups were unable to meet their lofty goals for growth. With the flood of funding drying up, startups are finding themselves in dire straits. 

Running out of money and options for survival, some proptech firms have been forced to either go out of business or lay off large portions of their staff and recapitalize debt to extend their runways as long as possible.  This year, the proptech sector raised $11.4B in  venture capital funding,…

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