The Beltline’s effect on office and retail leasing along its built stretches has been drastic, according to an analysis released today by CBRE, a leading global commercial real estate services and investment firm.
To gauge “The Beltline Effect,” the company analyzed average asking rents for commercial and retail spaces over the past five years, dating back to 2013. The Beltline’s popular Eastside Trail officially opened for public use in October 2012. The most pronounced change has come with office space along the Beltline, where rents have jumped by a staggering 70 percent in five years. That’s more than twice the growth in Atlanta’s Central Business District overall in the same time period, per the analysis.
Rents for Beltline retail space, meanwhile, have climbed by nearly 60 percent, far outpacing the CBD’s growth of less than 25 percent.
Sixty West Funds currently owns three locations with proximity to the Beltline: Echo Westside, Quarry Park, and the partnered O4W Development. Each of these potential developments lie within Qualified Opportunity Zones, created by the Tax Cuts and Jobs Act of 2017. While development plans for each differ, all three developments have potential mutli-family, office, and / or retail opportunities.
Read the full Curbed Atlanta article HERE.
View more Sixty West Funds target properties, and learn about our Opportunity Zone approach HERE.