Atlanta Retail Investment Forecast
Atlanta Retail Fully Recovers from Health Crisis;
Strong Performance Anticipated Again in 2022
Demographic tailwinds propel retail market. Atlanta's retail scene has already recovered from the impact of the health crisis as sufficient stimulus and an influx in population boosted local businesses' prospects. Most of the metro's recent store closures were likely inevitable and the timeline was accelerated due to the pandemic; many other retailers, however, stepped in to fill the void. Some big-box space will be repurposed in the coming year, with industrial conversion playing a sizable role. Last mile distribution will be a favorite redesignation as online sales in the metro stay strong. Meanwhile, construction accelerates this year as several neighborhood and community centers are completed. Little impact from the increase in stock is anticipated, due to high pre-leasing levels. Nearly 80 percent of all the retail space coming out of the ground at the beginning of the year had leasing commitments. The anchored centers, largely in areas with an increase of rooftops, will attract in-line tenants quickly. Statewide, new business applications are up approximately 100 percent from pre-COVID-19 levels.