city spotlights: atlanta, georgia

In July, we announced our City Spotlight series, highlighting the retail market and demographics in cities where we’ve played a pivotal role in developing retail locations. This month, we want to shine a light on the bustling market of Atlanta, GA, where we’ve partnered with one of our clients to successfully establish several new locations in and around this dynamic city.

Why Atlanta?

Atlanta has experienced rapid population growth over the last few years, both within the city limits and its surrounding suburbs. The Atlanta Regional Commission estimated that over 62,000 people had moved into the metro area in 2023 alone, including 10,800 people settling within the city limits. Despite higher housing prices, the city remains a magnet for recent college graduates and young families, which can be attributed to several key factors: diverse demographics, fast-paced housing development, strategic location and major transportation hubs, including the busiest airport in the world, and, of course, economic opportunities. Atlanta’s economy’s strength is reflected in its 6.4 percent employment growth since 2020, which fuels a steady demand for retail, particularly in the suburban areas.

A Q1 2024 report by Colliers noted that the overall retail vacancy rate is at an all-time low of 3.6 percent, and Atlanta ranked fourth in the nation for total retail investment sales last year. Despite high interest rates, construction costs, and low completion rates, the Q2 2024 report from Marcus & Millichap highlights that the city continues to attract significant retail investment, driven by strong demand and sales.

STNL’s long-time client has already established three successful locations in the Atlanta metropolitan area’s northeastern suburbs, filling critical market gaps. Building on this success, we are developing two additional locations in the northern suburbs and a third location south of Atlanta. With this strategic expansion, we hope to take advantage of the vibrant suburbs around the metro area, positioning our client to continue to thrive in the market. 

Interested in developing in Atlanta, GA? Reach out to our team at team@stnldevelopment.com.

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