According to a new report published by HighGrove Partners, 2014 Atlanta Commercial Property Trends, commercial properties in metro-Atlanta will be seeing a bit of resurgence this year. Forecasters predict vacancies will drop and rents will rise in office buildings, shopping centers, factories and warehouses. As job growth continues, activity in the retail and office sectors is expected to step up.
While new construction isn’t expected in Atlanta, commercial building vacancies will continue to fill up. As a result, trends in commercial landscapes, which like boring beige or tame tan have remained fairly consistent through the years, are now exploding to include more creative options — and lots and lots of color.
For 2014, these commercial property trends are less about big-impact renovations and more about subtle improvements that will add polish and efficiency to a property. “Commercial property managers and building owners who have held off on capital improvements for their landscapes are now starting to spend more money to enhance their properties”, points out Gib Durden, vice president of business development for HighGrove Partners. “These improvements and enhancements include everything from renovating overgrown and outdated landscapes to adding new, fresh spaces to liven up their properties.”
2014 is a year for big, bold color
From outdoor furniture, fixtures and flowers to retail storefronts, emphasis on bold color will continue to be big this year on metro-Atlanta commercial properties. “Colors are being paired from opposite ends of the color wheel—orange, purple and red, for example,” explains Erik Jarkins, a landscape architect at HighGrove Partners. “These dramatic combinations throw the eye for a loop and forces the passerby to pause and look at the landscape a bit longer.”
In the report Durden touches on another trend: “Office building owners and managers recognize people can’t sit in their cubes for eight hours each day. They need to get outside and disconnect — in sitting areas and picnic areas or on walking trails and while going through exercise stations.” Outdoor amenities such as these are becoming more and more prevalent on commercial properties.
The full 32-page 2014 Atlanta Commercial Property Trends Report can be downloaded here from the HighGrove Partners website. For more information about this report and commercial property trends impacting metro-Atlanta you can contact Gib Durden at HighGrove Partners at (678) 298-0550.