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Interest rates in the Atlanta real estate market have Real estate agent alpharetta picked up since the late 80s. Atlanta’s construction activity stands at one of the top five rankings of the metropolitan markets in the U.S. with respect to office, industrial and retail construction activity. The development is very high in spite of the high vacancy rates in these segments. A major percentage of the office and industrial market in Atlanta is occupied by real estate investment trusts and is responsible for the rapid pace of construction. There are two important factors that result in the rapid development of Atlanta’s real estate-population expansion and a growing employment rate.
The vacancy rate for Atlanta’s office market is nearly 15percent according to one survey. On the other hand, the vacancy rate in the case of the industrial real estate market is approximately 28 percent. The most active real estate sub-markets in Atlanta are Midtown, Buckhead and North Central. The positive growth of those markets is due to the opening of the Georgia 400 extension. Owing to this opening, the revitalization in the Buckhead’s market can also be seen in the office construction activity combined with retail space, which, for example, is reflected in $11.5 million renovation of the Tower Place office tower.
Even the multifamily area of real estate is also picking up in Atlanta. At the end of 1993, there were nearly 25 multifamily land sites under construction. Further Atlanta lodging industry is also achieving record success in both demand and revenue growth of over 10 percent.