The Sunbelt Surge: Atlanta among the Nation's 15 Real Estate Markets
Tuesday, June 13th, 2023
From industrial development to commercial property and single family homes, Atlanta real estate development eclipsed most of the country over the past decade. The city of Atlanta ranked no. 12 for most activity across all real estate sectors, which include single family, multifamily, self storage, office, retail and industrial construction.
Atlanta's population has been growing with no end in sight. This in turn gave a huge push to the property development market.
Over the last decade, Atlanta logged massive real estate additions. Here’s where it shines:
Multifamily: Approximately 47K multifamily units were added to Atlanta's skyline over the past decade, the twelfth highest among the 100 biggest urban hubs. Multifamily construction boomed last year, with a record of 10,078 units on the drawing board.
Office sector: Atlanta's office sector swelled by 17M square feet. That propelled the city to no. 7 in the U.S. in this regard.
Retail: Cash registers were ringing, with 4.9 million square feet of new retail construction (the 8th-highest number nationally).
Self storage: the Atlanta self storage sector also experienced an impressive surge in new construction, answering to its residents' complex needs for space. About 3M square feet of storage space was added to the local inventory over the past ten years.
Industrial: Industrial space grew by almost 14.4 million square feet.
Across the nation, high-growth Sun Belt markets were by far the most active.
For the full report here: https://www.storagecafe.