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2023 Predictions Commercial Real Estate

While higher interest rates slowed the commercial real estate market in 2022, I predict rates will fall in 2023 as the rate of inflation begins to decrease during the year.

The office market will improve as workers spend more time in the office and the supply of office properties diminishes as older buildings are converted to other uses. The multifamily rental market will also continue to be strong because of the high prices and lack of supply in the single family “for sale” market.

Our societal addiction to online shopping and continued “onshoring” of manufacturing will continue to be the driving demand for industrial space. I see the industrial market staying strong for the foreseeable future, but the brick-and-mortar retail businesses will continue to have some issues — mainly related to online shopping and employee staffing. However, as the rate of inflation falls more shoppers will likely return to the marketplace.

On the other hand, a prolonged recession will hurt retail sales and retail landlords may wind up losing some tenants. But then again, on the other end of the spectrum, land for industrial, residential, and mixed-use projects should continue to be in high demand.

From what I can see, after a little bit of a slow start, commercial real estate ought to experience a strong year in 2023.

Happy Holidays!

Bill Adams, MBA, CCIM, CRB, ALC
Adams Commercial Real Estate

Posted in: Uncategorized

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January 2023 Residential Intown Market Report »

About Us

• As a native Atlantan who grew up in a house built by my grandparents in 1902 across the street from Grant Park, I have always loved the City’s downtown and historic intown neighborhoods. I went to school from the first grade through graduate school in downtown Atlanta.

As a child growing up in the 1950s and 1960s, I witnessed and mourned the decline of those wonderful old “close-in” neighborhoods and their business districts. By the time I was in my early 20s in the late ’60s, I had gotten involved in early intown revitalization efforts in Grant Park under the auspices of a program known as “Model Cities.” After a tour of duty in the Army and Graduate Business School at Georgia State University, I joined the forerunner of the Grant Park Neighborhood Association in late 1974. In the early 1970s most intown neighborhoods were “redlined” by banks and neglected by the local government. The neighborhood revitalization movement in Atlanta was in its infancy. Banks refused to make real estate loans in these “high-risk” neighborhoods. The level of city services was poor and to make matters worse, the city had rezoned many of these neighborhoods from single-family to multifamily residential in the 1950s.

I became a neighborhood activist in Grant Park and, along with others, helped to bring about one of the largest “down zonings” in City history, converting the area back to single-family/duplex zoning from apartment zoning. I was also a community representative and later President of the local Neighborhood Housing Services program, which helped local lenders understand the housing market in the City’s neighborhoods and helped end their practice of not making loans in these communities. I later served as a neighborhood association and Neighborhood Planning Unit (NPU) Chair as well as a board member of the civic groups working to restore the Cyclorama in Grant Park and historic Oakland Cemetery.

All these experiences have had a profound effect on me and the company that I founded in 1979. I had a commercial real estate background but came to realize that strong neighborhoods are vital to a city’s quality of life and its commercial core. Adams Commercial’s approach to real estate has always reflected the values of neighborhood activism. Our transactions involve people, not just numbers. We are in the problem solving and information business. After more than 40 years of service, our goal is to complete our client’s purchase or investment while at the same time adding value to the community through that transaction.

I hope that you find our website to be a helpful tool whether you are planning to buy, sell or are trying to get a good feel for the state of the commercial real estate market in Atlanta. If you have any questions or comments, please e-mail me at wtadams@adamscre.com. If you have an interest in commercial real estate, please visit our Adams Commercial Real Estate Website at adamscre.com.

Thanks,

Bill Adams, MBA, CCIM, ALC, CRB
President
ADAMS COMMERCIAL REAL ESTATE
Atlanta, GA

Our Core Values: Success, Integrity, Wisdom, Dependability, Community

At Adams Commercial we define SUCCESS when our clients get up from their closing with a smile. To accomplish this,  we start by putting the needs of our clients first, which to us is the essence of INTEGRITY. We bring the collective WISDOM of our agents to every real estate deal … wisdom that comes only from the company’s years of business experience and expertise in intown markets. Whether it is showing up at the appointed time or making sure all details are noted and deadlines met, we believe DEPENDABILITY is also an essential ingredient of a successful real estate transaction. We believe that your successful purchase or sale adds value to COMMUNITY. And we are proud to play a role in building and sustaining a thriving community.

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