A couple of years ago when I attended a workshop at a most wonderful nationally renowned national organization, the Urban Land Institute, someone who has since become a friend, asked “What does this have to do with commercial real estate?” Commercial real estate development and residential depend upon one another. Having been in both industries, I have the unusual vantage of seeing how they merge.
Our Berkshire Hathaway HomeServices Georgia Properties residential real estate office depends upon office space. Clients consider their commute to a CRE space, their office, when purchasing a home.
Bisnow, the premier commercial real estate conference and daily news source, opened the eyes of both commercial realtors and lone residential one at the Future of Atlanta Health Healthcare earlier this May.
Eyes were opened at this Bisnow conference when talking about Midtown Atlanta, and how residential and commercial developments feed off one another. (Do not ask me which one came first, and frankly that is an “academic” question.) In Midtown, the obvious example of the merger is the new Whole Foods at the corner of 14th and W. Peachtree Street and recent residential construction. —- Wait! Remember what I said about healthcare, and the better example, The new Northside Medical Center. This healthcare facility along with new ones are being built close to where people live. Yes, it is next to Whole Foods. That attracts business from both recent residential development that is both thriving and not conveniently near a grocery store and other supporting amenities, and from the commercial side, the iconic IBM/One Atlantic Center.
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