The latest Atlanta commercial real estate hot topic is the sale of In-town’s Atlanta Mixed-Use Development the Atlantic Station. This sale is said to boost both real estate home values in the Midtown Atlanta and Downtown Atlanta areas. The December 31, 2010 closing of the Atlantic Station, Midtown Atlanta’s main attraction, has been purchased by CB Richard Ellis Investors and North American Properties. AIG Global Real Estate sold its assets to CB Richard Ellis Investors and North American Properties who were said to be the highest bidders of this lucrative commercial real estate deal. The two investors partnered together to acquire the Atlantic Station In-Town Center, a 586,000 sq. ft. of retail real estate assets that consists of entertainment centers, shopping centers, and restaurants. Some retailers include Target, IKEA, H&M, Publix Supermarket, Regal 16 Cinemas and Dillard’s. This sale also included the 271 17th Street building.
What changes can we expect? A more sophisticated Atlantic Station with more high end retailers and attractions. The new development of Atlantic Station will help push residential and commercial values up in the 30363 zip code, and the neighboring zip codes of 30309 and 30310.
This sale would solidify curiosity of doubtful investors on the fence about investing in In-town real estate, more specifically around the Midtown's Atlantic Station area. One would call this the perfect real estate storm for buyers seeking to purchase a new home or condo in Atlanta’s Midtown area. While good change is taking place, great investment opportunities are currently being created. This is the opportune time to ride this real estate wave and to expect an exceptional return on your investment within the next 3 to 5 years, my prediction.
Real estate still remains one of the most tangible investments one can make. Real estate around the Atlantic Station would see immediate change, including the new Atlantic Condos, which continues to appeal to local and International homebuyers looking to buy in-town. Stay tuned for the latest real estate deals in the Midtown area. Sign up for instant email notification on Atlanta Homes, Atlanta Condos and Gated Communities that are anticipating future price reductions, or contact Raquel Twine today (404) 748-1898 for information on specific Atlanta real estate projects.