The Atlanta BeltLine: Impact on Industrial Market

Peyton McWhirter

The success of the Atlanta BeltLine project has made a resounding impact on the industrial building market, affecting the types of businesses able to stay in the area. With development along the Southwest trail underway, Atlanta City Council and Atlanta BeltLine, Inc. are modifying strategies of neighborhood usage to ensure equity, affordability, and inclusion, while maintaining the neighborhood’s cultural story.

 

In the Eastside Trail area near Ponce City Market, upscale retailers, businesses and residential units helped make the project a raging success. Despite the surrounding neighborhood being incongruent with its historical story, it turned the desirable but less affordable surrounding neighborhood into an attractive and well-visited area of town. 

 

Currently, the new Westside Trail is already booming with the addition of breweries and craft food eateries. Much of the industrial space is also being occupied by trendy food production facilities including Honeysuckle Gelato, Doux South Pickles, Wild Haven Beer, and Southern Aged (cheese). This is causing the less chic, yet still important, companies to look elsewhere for industrial space as demand and rent increases.

 

Two miles from Mercedes Benz Stadium, Metropolitan, a local developer, paid +/- $60 Million to convert an industrial site into office and service space for a variety of business needs in an effort to close the gap. How the city intends to improve areas off the BeltLine and near attractions such as the new stadium have yet to be determined, however, improvements made by CIDs will undoubtedly play a role. Watch for our next article about the impact of some of Metro Atlanta’s hottest CIDs.

Growing Medical Office Portfolio in Birmingham, AL

Barry McWhirter

McWhirter Realty Partners’ Birmingham, Alabama, manages a class A medical office portfolio consisting of five buildings totaling 360,000SF. The buildings are located in Bessemer, Cullman and Sylacauga and include:

 • 100,000SF MOB attached to UAB MedWest

 • 217,000SF in Professional Office Buildings I, II, and III, on the Cullman Regional  Medical Center campus

 • 42,274SF MOB at Coosa Valley Medical Center

 

The McWhirter Realty Partner’s office is managed by Tanya L. Shubert who has 20 years of experience in healthcare management, and Austin L. Purvis who serves as assistant property manager. 

Property Management

How to Budget for the Phase Out of R-22

Greer Hughes

The US EPA is phasing out the production of R-22, a common refrigerant used in HVAC systems, and prohibiting the manufacturing of new air-conditioning systems that use R-22. Eliminating these environmental toxins will help protect the Earth’s ozone layer. 

 

Property Managers need to assess how to properly budget for new systems, service existing systems after the production of R-22 is phased out, and the cost of available R-22 or alternative refrigerants. Fortunately, the lengthy phase out provides time to stagger the replacement of units, purchase available R-22 to maintain units until a replacement system is necessary, and review alternative options.

 

While this change could have an unforeseen immediate impact on property management, the new energy efficient HVAC systems may save significantly on energy costs for the long term. Property Managers should take advantage of the lengthy phase out to manage costs over time. More information can be found at www.epa.gov/ozone-layer-protection.

Market Spotlight

FOR LEASE: FREESTANDING OFFICE / WAREHOUSE

1450 HILLS PLACE, ATLANTA, GA 30318

 • 44,924± sf freestanding office/warehouse building

 • 6,000± sf of open/loft office

 • New warehouse lighting and an abundance of natural light from large windows in warehouse

 • 4 dock-high doors

 • 18’ ceiling height

 • Good access to Midtown, Downtown, I-75, and I-85

 • Lease rate: $6.25/sf, Net

 • Flexible lease terms