The I-85 North Corridor of Atlanta, GA is a rapidly developing area with immense potential for commercial and industrial real estate investment. Located in the northeast part of Atlanta, the corridor covers several counties, including Gwinnett, Forsyth, and Hall. The area's proximity to Hartsfield-Jackson Atlanta International Airport and major interstates, including I-85 and I-285, makes it an ideal location for businesses seeking easy access to transportation networks. This blog will explore the reasons why investing in the I-85 North Corridor of Atlanta, GA, can be a profitable venture backed by statistics.
Growth and Development:
The I-85 North Corridor is undergoing rapid growth and development. According to the Atlanta Regional Commission (ARC), the area is projected to add over 1.8 million people by 2050, making it the fastest-growing region in the metropolitan area. The population growth has spurred economic development, with new commercial and industrial developments popping up regularly. For instance, the 370-acre mixed-use development, Halcyon, in Forsyth County, is home to several high-end retailers, restaurants, and entertainment options.
Employment Opportunities:
The I-85 North Corridor is home to several major corporations, including NCR Corporation, Fiserv, and Primerica, among others. These companies offer stable employment opportunities, making the area an attractive location for potential employees. According to the Georgia Department of Labor, the unemployment rate in Gwinnett County was 3.4% as of February 2022, lower than the state average of 3.8%. The area's strong employment prospects create a stable rental market for commercial and industrial real estate investors.
Transportation Network:
The I-85 North Corridor's accessibility to major transportation networks is a significant factor that makes the area a prime location for businesses. The corridor provides easy access to major interstates, including I-85 and I-285, which connect to several other interstates, including I-75 and I-20. Hartsfield-Jackson Atlanta International Airport, the world's busiest airport, is just 35 miles away, making it easy for businesses to move goods and people around the country and internationally. The proposed $5 billion expansion of Georgia's port in Savannah, which is expected to increase container capacity by 50%, will also benefit businesses located in the I-85 North Corridor.
Real Estate Market:
The I-85 North Corridor's robust economy, employment opportunities, and accessibility to major transportation networks have translated into a strong real estate market. The area's industrial vacancy rate is currently at 6.3%, lower than the national average of 6.9%. Furthermore, according to the Commercial Real Estate Development Association (NAIOP), the area's commercial real estate market is expected to experience continued growth, with 5.5 million square feet of new office space and 25 million square feet of new industrial space projected to be developed over the next five years.
Investing in the I-85 North Corridor of Atlanta, GA, can be a profitable venture, as the area's robust economy, employment opportunities, accessibility to major transportation networks, and strong real estate market create a favorable investment climate. The region's projected population growth and continued economic development make it an attractive location for businesses, which bodes well for commercial and industrial real estate investors. With statistics to back up its potential, the I-85 North Corridor of Atlanta, GA, is an excellent investment opportunity for savvy investors.