January 17, 2023

Jason Nettles featured in Bisnow perspective on Atlanta CRE landscape in 2023

ATLANTA, GEORGIA (January 17, 2023) - Jason Nettles, managing director of Northmarq's Atlanta multifamily investment sales team, was recently featured in a Bisnow's article, "White collar job losses, still rising rents, world cup prep among Atlanta CRE's predictions for '23." The story notes that Atlanta commercial real estate will largely be immune to the chill of the coming economic winter, according to the region's industry leaders. The local industry is insulated against rising borrowing costs and the deep freeze in debt markets, but that doesn’t mean there won't be some pain.

In a section highlighting how Atlanta multifamily rents are outperforming the nation, Nettles shared his insights. Heexplained that rising interest rates and deteriorating economic conditions were headwinds this year for apartment landlords raising rents to the levels seen in 2021, when rents jumped more than 20 percent in Metro Atlanta.

This year, rents are expected to rise under 10 percent. But in Atlanta, despite a potential recession, renter demand still exceeds supply, positioning the market to continue to see rent growth in 2023. “We are still seeing rent rolls with 5%-plus rent growth, even into the seasonally slower winter months,” Nettles said.

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