IN DEPTH: COMMERCIAL REAL ESTATE
august 4, 2003
Who's who in commercial real estate
Here is Atlanta Business Chronicle's listing of some of the leading professionals in the commercial real estate field in metro Atlanta. Although this is by no means a complete roster of who is most significant in the area's commercial real estate business, we intend it to be a good representation of the people involved in this industry.
Eben Hardie III
Experience and background: Hardie was most recently senior vice president at Weeks (now Duke) and has 23 years' experience in office and industrial real estate.
Other than the downturn, what trends in the real estate industry are affecting your business? Low interest rates, allowing experienced real estate investors to hang in there despite the slow economy. Low interest rates have led to low cap rates and fewer distressed sales.
Do you think investors are paying too much for investment properties in Atlanta? No, because investing is a risk choice. The stock market's steep decline has sent more investors into real estate, thus bidding up prices.
Do you expect to see consolidation among real estate firms? Yes, the REITs will continue to consolidate.
What should be done to address Atlanta's traffic problems? Consolidate metro governments into one entity; do the streetcar loop intown; and more high-occupancy-vehicle (HOV) lanes.
What submarkets are being hurt most by traffic? Which ones are benefiting? Downtown and Georgia 400 north. What traffic has really done is create smaller towns that are close geographically.