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Associated Press investigation finds military weapons vanish, appear on streets

Associated PressJune 15, 202118min

Air ForceAPArmor Piercing GrenadesArmyAssociated PressDepartment Of DefenseGunsHandgunsMachine GunsMarinesMilitaryNavyPistolsRiflesShotgunsStreetsViolent CrimeWeapons

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Military pistols, machine guns, assault rifles, armor-piercing grenades were lost or stolen.

At least 1,900 U.S. military firearms were lost or stolen during the 2010s, with some resurfacing in violent crimes, an Associated Press investigation has found.

Because some armed services have suppressed the release of basic information, AP’s total is a certain undercount.

Government records covering the Army, Marine Corps, Navy and Air Force show pistols, machine guns, shotguns and automatic assault rifles have vanished from armories, supply warehouses, Navy warships, firing ranges and other places where they were used, stored or transported. These weapons of war disappeared because of unlocked doors, sleeping troops, a surveillance system that didn’t record, break-ins and other security lapses that, until now, have not been publicly reported.

While AP’s focus was firearms, military explosives also were lost or stolen, including armor-piercing grenades that went missing while being transported from Blount Island, the U.S. Marine Corps depot in Jacksonville, to Letterkenny Army Depot in Pennsylvania. They were found in an Atlanta backyard eight months later.

Weapon theft or loss spanned the military’s global footprint, touching installations from coast to coast, as well as overseas. In Afghanistan, someone cut the padlock on an Army container and stole 65 Beretta M9s. The theft went undetected for at least two weeks, when empty pistol boxes were discovered in the compound. The weapons were not recovered.

Even elite units are not immune. A former member of a Marines special operations unit was busted with two stolen guns. A Navy SEAL lost his pistol during a fight in a restaurant in Lebanon.

The Pentagon used to share annual updates about stolen weapons with Congress, but the requirement to do so ended years ago and public accountability has slipped. The Army and Air Force, for example, couldn’t readily tell AP how many weapons were lost or stolen from 2010 through 2019. So the AP built its own database, using extensive federal Freedom of Information Act requests to review hundreds of military criminal case files or property loss reports, as well as internal military analysis and data from registries of small arms.

Sometimes, weapons disappear without a paper trail. Military investigators regularly close cases without finding the firearms or person responsible because shoddy records lead to dead ends.

The military’s weapons are especially vulnerable to corrupt insiders responsible for securing them. They know how to exploit weak points within armories or the military’s enormous supply chains. Often from lower ranks, they may see a chance to make a buck from a military that can afford it.

“It’s about the money, right?” said Brig. Gen. Duane Miller, who as deputy provost marshal general is the Army’s No. 2 law enforcement official.

Theft or loss happens more than the Army has publicly acknowledged. During an initial interview, Miller significantly understated the extent to which weapons disappear, citing records that report only a few hundred missing rifles and handguns. But an internal analysis AP obtained, done by the Army’s Office of the Provost Marshal General, tallied 1,303 firearms.

In a second interview, Miller said he wasn’t aware of the memos, which had been distributed throughout the Army, until AP pointed them out following the first interview. “If I had the information in front of me,” Miller said, “I would share it with you.” Other Army officials said the internal analysis might overstate some losses.

The AP’s investigation began a decade ago. From the start, the Army has given conflicting information on a subject with the potential to embarrass — and that’s when it has provided information at all. A former insider described how Army officials resisted releasing details of missing guns when AP first inquired, and indeed that information was never provided.

Top officials within the Army, Marines and Secretary of Defense’s office said that weapon accountability is a high priority, and when the military knows a weapon is missing it does trigger a concerted response to recover it. The officials also said missing weapons are not a widespread problem and noted that the number is a tiny fraction of the military’s stockpile.

“We have a very large inventory of several million of these weapons,” Pentagon spokesman John Kirby said in an interview. “We take this very seriously and we think we do a very good job. That doesn’t mean that there aren’t losses. It doesn’t mean that there aren’t mistakes made.”

While AP’s analysis covered the 2010s, incidents persist.

In May, an Army trainee who fled Fort Jackson in South Carolina with an M4 rifle hijacked a school bus full of children, pointing his unloaded assault weapon at the driver before eventually letting everyone go.

Last October, police in San Diego were startled to find a military grenade launcher on the front seat of a car they pulled over for expired license plates. The driver and his passenger were middle-aged men with criminal records.

Stolen military guns have been sold to street gang members, recovered on felons and used in violent crimes.

The AP identified eight instances in which five different stolen military firearms were used in a civilian shooting or other violent crime, and others in which felons were caught possessing weapons. To find these cases, AP combed investigative and court records, as well as published reports. Federal restrictions on sharing firearms information publicly mean the case total is certainly an undercount.

The military requires itself to inform civilian law enforcement when a gun is lost or stolen, and the services help in subsequent investigations. The Pentagon does not track crime guns, and spokesman Kirby said his office was unaware of any stolen firearms used in civilian crimes.

The closest AP could find to an independent tally was done by the FBI’s Criminal Justice Information Services. It said 22 guns issued by the U.S. military were used in a felony during the 2010s. That total could include surplus weapons the military sells to the public or loans to civilian law enforcement.

Those FBI records also appear to be undercount. They say that no military-issue gun was used in a felony in 2018, but at least one was.

Meanwhile, authorities in central California are still finding AK-74 assault rifles that were among 26 stolen from Fort Irwin a decade ago. Military police officers stole the guns from the Army base, selling some to the Fresno Bulldogs street gang.

At least nine of the AKs have not been recovered.

The people with easiest access to military firearms are those who handle and secure them.

In the Army, they are often junior soldiers assigned to armories or arms rooms, according to Col. Kenneth Williams, director of supply under the Army’s G-4 Logistics branch.

“This is a young guy or gal,” Williams said. “This is a person normally on their first tour of duty. So you can see that we put great responsibility on our soldiers immediately when they come in.”

Armorers have access both to firearms and the spare parts kept for repairs. These upper receivers, lower receivers and trigger assemblies can be used to make new guns or enhance existing ones.

“We’ve seen issues like that in the past where an armorer might build an M16” automatic assault rifle from military parts, said Mark Ridley, a former deputy director of the Naval Criminal Investigative Service. “You have to be really concerned with certain armorers and how they build small arms and small weapons.”

In 2014, NCIS began investigating the theft of weapons parts from Special Boat Team Twelve, a Navy unit based in Coronado, California. Four M4 trigger assemblies that could make a civilian AR-15 fully automatic were missing. Investigators found an armory inventory manager was manipulating electronic records by moving items or claiming they had been transferred. The parts were never recovered and the case was closed after federal prosecutors declined to file charges.

Weapons enter the public three main ways: direct sales from thieves to buyers, through pawn shops and surplus stores, and online.

Investigators have found sensitive and restricted parts for military weapons on sites including eBay, which said in a statement it has “zero tolerance” for stolen military gear on its site.

At Fort Campbell, Kentucky, soldiers stole machine gun parts and other items that ended up with online buyers in Russia, China, Mexico and elsewhere. The civilian ringleader, who was found with a warehouse of items, was convicted. Authorities said he made hundreds of thousands of dollars.

Often though, recovering a weapon can prove hard.

When an M203 grenade launcher couldn’t be found during a 2019 inventory at a Marine Corps supply base in Albany, Georgia, investigators sought surveillance camera footage. It didn’t exist. The warehouse manager said the system couldn’t be played back at the time.

An analysis of 45 firearms-only investigations in the Navy and Marines found that in 55% of cases, no suspect could be found and weapons remained missing. In those unresolved cases, investigators found records were destroyed or falsified, armories lacked basic security and inventories weren’t completed for weeks or months.

“Gun-decking” is Navy slang for faking work. In the case of the USS Comstock, gun-decking led to the disappearance of three pistols.

AP learned that the Army, the largest of the armed services, is responsible for about 3.1 million small arms. Across all four branches, the U.S. military has an estimated 4.5 million firearms, according to the nonprofit organization Small Arms Survey.

In its accounting, whenever possible AP eliminated cases in which firearms were lost in combat, during accidents such as aircraft crashes and similar incidents where a weapon’s fate was known.

Unlike the Army and Air Force, which could not answer basic questions about missing weapons, the Marines and Navy were able to produce data covering the 2010s.

The Navy data showed that 211 firearms were reported lost or stolen. In addition, 63 firearms previously considered missing were recovered.

According to AP’s analysis of data from the Marines, 204 firearms were lost or stolen, with 14 later recovered.

To account for missing weapons, the Pentagon relies on incident reports from the services, which it keeps for only three years.

Pentagon officials said that approximately 100 firearms were unaccounted for in both 2019 and 2018. A majority of those were attributable to accidents or combat losses, they said. Even though AP’s total excluded accidents and combat losses whenever known, it was higher than what the services reported to the Pentagon.

The officials said they could only discuss how many weapons were missing dating to 2018. The reason: They aren’t required to keep earlier records.

The Air Force was the only service branch not to release data. It first responded to several Freedom of Information Act requests by saying no records existed. Air Force representatives then said they would not provide details until yet another FOIA request, filed 1.5 years ago, was fully processed.

The Army sought to suppress information on missing weapons and gave misleading numbers that contradict internal memos.

Army spokesman Lt. Col. Brandon Kelley said the service’s property inventory systems don’t readily track how many weapons have been lost or stolen. Army officials said the most accurate count could be found in criminal investigative summaries released under yet another federal records request.

AP’s reading of these investigative records showed 230 lost or stolen rifles or handguns between 2010 and 2019 — a clear undercount. Internal documents show just how much Army officials were downplaying the problem.

The AP obtained two memos covering 2013 through 2019 in which the Army tallied 1,303 stolen or lost rifles and handguns, with theft the primary reason for losses. That number, which Army officials said is imperfect because it includes some combat losses and recoveries, and may include some duplications, was based on criminal investigations and incident reports.

The internal memos are not “an authoritative document,” Kelley said, and were not closely checked with public release in mind. As such, he said, the 1,303 total could be inaccurate.

The investigative records Kelley cited show 62 lost or stolen rifles or handguns from 2013 through 2019. Some of those, like the Beretta M9 used in four shootings in Albany, New York, were recovered.

___

Republished with permission from The Associated Press.

Associated Press

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Sunburn — The morning read of what’s hot in Florida politics — 6.15.21

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One comment

john

June 15, 2021 at 3:21 pm

easy remedy. Disarm the military. They don’t need guns. Guns bad!

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extremeifc · 1 month

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How Concrete Preparation Affects the Longevity and Durability of Concrete Projects in Atlanta

When it comes to concrete projects in Atlanta, proper preparation is crucial for ensuring the long term success and durability of the final product. Whether you're pouring a new driveway, resurfacing a warehouse floor, or installing a decorative concrete patio, taking the time to properly prepare the concrete substrate can make all the difference in how well it stands up to the demands of the Atlanta climate and usage over time.

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5.Compliance with Regulations: Proper concrete preparation is often a requirement for compliance with local building codes and environmental regulations, particularly in industrial or commercial settings.

The Consequences of Inadequate Concrete Preparation

Conversely, skimping on concrete preparation can lead to a range of issues that can compromise the longevity and durability of your project. Some common problems that can arise from inadequate preparation include:

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In the long run, these issues can result in costly repairs, premature replacement, and even potential liability concerns, making the investment in proper concrete preparation well worth the effort.

In conclusion, when it comes to concrete projects in Atlanta, taking the time to thoroughly prepare the substrate is an essential step that can have a significant impact on the longevity and durability of the final product. By following best practices for concrete preparation, you can ensure your concrete project stands the test of time, even in the face of Atlanta's challenging climate and usage demands.

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tclprousa · 2 months

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Efficient Warehouse Equipment Removal with Tclpro.com

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worldtopnews99 · 3 months

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Professional Painting LLC

Elevate Your Space with Professional Painting LLC: Your Trusted Painting Partner

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khaysservice · 5 months

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Enhance Your Space with Durable Epoxy Flooring in Atlanta

Epoxy flooring has emerged as a popular choice for homeowners and businesses in Atlanta, offering a perfect blend of durability, aesthetics, and easy maintenance. Whether you're looking to upgrade your garage, basement, commercial space, or even your home's interior, epoxy flooring provides a versatile solution that enhances both the visual appeal and functionality of your space. Let's delve into why epoxy flooring is gaining traction in Atlanta and how it can transform your property.

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prontoepoxy · 6 months

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Enhance Your Space with Epoxy Floors in Atlanta

Epoxy floors have become a popular choice for homeowners and businesses alike in Atlanta, offering a blend of durability, aesthetics, and ease of maintenance. From residential garages to commercial spaces, epoxy flooring provides a versatile solution that can elevate any environment. Let’s delve into why epoxy floors in Atlanta are gaining such widespread appeal.

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Versatility: Another advantage of epoxy floors is their versatility. They can be installed in virtually any indoor or outdoor space, including garages, basements, kitchens, warehouses, retail stores, and more. Whether you need a durable flooring solution for your home, office, or industrial facility, epoxy floors can be customized to meet your specific requirements. In Atlanta, where diverse industries thrive, epoxy flooring offers a versatile solution that can adapt to a variety of environments.

Cost-Effectiveness: Despite their many benefits, epoxy floors are surprisingly affordable compared to other flooring options. The initial cost of installation is relatively low, especially when compared to materials like hardwood or natural stone. Additionally, the long-term savings associated with epoxy flooring, such as reduced maintenance costs and increased durability, make it a cost-effective investment for both residential and commercial properties in Atlanta.

Quick Installation: Epoxy flooring can be installed quickly and efficiently, minimizing disruption to your daily routine. Depending on the size of the area and the complexity of the design, installation can typically be completed within a few days. This fast turnaround time is particularly advantageous for businesses in Atlanta that need to minimize downtime and maintain productivity.

epoxy floors offer a winning combination of durability, aesthetics, and practicality that make them an ideal choice for residential and commercial properties in Atlanta. Whether you're looking to enhance the look of your garage, showroom, or office space, epoxy flooring provides a versatile solution that can withstand the rigors of daily use while adding value to your property. With their long-lasting performance and easy maintenance, epoxy floors are sure to remain a popular flooring option in Atlanta for years to come.

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internationalrealestatenews · 7 months

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[ad_1] Chick-Fil-A is boosting its fowl quick meals distribution in South Florida after buying a Weston warehouse for $50.5 million. An affiliate of the Atlanta-based chain purchased the 207,335-square-foot facility at 3225 Meridian Parkway that was accomplished in 1995, data present. The deal breaks right down to $244 per sq. foot. The vendor, a fund managed by Boston-based Cabot Properties, paid $30 million for the 15.8-acre industrial web site in 2019, data present. The property is within the Weston Park of Commerce. The acquisition marks Chick-fil-A's first acquisition of a South Florida warehouse to provide and distribute meals to its eating places in Miami-Dade, Broward and Palm Seaside counties. The quick meals chain, led by CEO Andrew Truett Cathy, owns 9 different distribution facilities within the Midwest and South US In 2020, Chick-Fil-A entered the South Florida market by asserting it could open seven eating places within the area. Since then, the corporate has opened 47 Chick-fil-A shops in Miami-Dade, Broward and Palm Seaside counties. Industrial trades in South Florida stay regular. Final month, EQT Exeter, a Radnor, Pennsylvania-based actual property funding belief, acquired a warehouse and workplace constructing in Doral for $14.5 million. In January, Boston-based Longpoint Companions paid $30 million for six industrial services close to Medley and Doral. The buildings have a mixed 126,050 sq. toes of warehouse house. The identical month, Coral Gables-based ComReal offered Lakes Edge Innovation Heart, an 80,158-square-foot warehouse in Doral. Aventura-based actual property investor Sebastian Guejman paid $17.5 million for the property. Additionally in January, a three way partnership between Baltimore, Maryland-based ABR Capital, and Darien, Connecticut-based East Capital Companions paid $38.5 million for six industrial warehouses and two workplace buildings close to Medley. Miami-based Cofe Properties offered the portfolio. Within the fourth quarter, the economic market in Miami-Dade, Broward and Palm Seaside counties had emptiness charges of three.2 %, 3.5 % and 4.2 %, respectively, based on a CBRE report. The common asking lease within the tri-county area was about $15.60 per sq. foot. [ad_2] Supply hyperlink

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fidelisfm · 8 months

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Hoarding Cleaning Services Prices

For many people, a house that has become cluttered and disorganized is more than just a nuisance. Cluttered spaces can cause serious health and safety hazards, and can make it difficult for homeowners or tenants to move around their space safely.

Hoarding cleaning services are available to assist with the cleanup of these unsafe environments, but they can be expensive. Hoarding clean-up costs can vary widely depending on the severity of the situation and the extent of cleaning required, but the services are usually well worth the investment.

The most obvious factor that influences the cost of hoarding cleaning services is the size of the property that needs to be cleaned. A single-family home will generally be cheaper to work on than a commercial office building or warehouse. This is due to the fact that there are fewer areas for clutter and debris to build up in.

Another significant factor that influences the cost of hoarding cleanup is the amount of debris and trash that will need to be disposed of. This is because a lot of clutter can be hazardous and may require specialized disposal methods. In addition, some items may be in such poor condition that they need to go straight to the trash. As such, trash removal fees will need to be factored into the final cleaning price.

Finally, if the property in question is heavily impacted by biohazards or pest infestations, it will need to be treated before being cleaned. These situations can be incredibly dangerous for cleaning professionals, and they will need to use a variety of specialized equipment to clean the property and treat the underlying problems. This can significantly increase the overall cost of the cleaning services, as well as add to the time that is required for the job to be completed.

There are other factors that can influence the cost of hoarding cleaning services, including transportation costs and the availability of supplemental services. For example, if the homeowner wants to have the option of having their belongings donated after the cleaning process is complete, this will need to be factored into the total cost of the services. In addition, if the home is in a remote location or has limited access points, additional costs will be added to the cleaning service.

It is important for homeowners to be aware of these additional costs before hiring a hoarding cleaning company. By understanding what goes into the pricing of these services, it is easier for potential clients to find a company that meets their needs and budget. It is also important for homeowners to obtain a detailed estimate from the cleaning company before they hire them to perform any work. By doing so, they can be sure that they are getting the best value for their money. Begin Again Decon is a local hoarding cleaning company in Atlanta that can provide you with an estimate for your hoarding cleanup project.

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ecgcontractors · 9 months

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The Benefits of Commercial Roofing

When it comes to safeguarding your business in Atlanta, one of the critical areas of focus should be the roof of your commercial property. Your choice of a top commercial roofing company in Atlanta can significantly impact the durability, safety, and functionality of your business space. Read on to understand why relying on a reputable commercial roofing company is essential for your business:

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Tailored Solutions for Business Needs: Commercial roofing is not a one-size-fits-all solution for businesses. Trustworthy commercial roofing companies understand the distinct requirements of various industries and enterprises. Whether you own a warehouse, office building, retail space, or manufacturing facility, it's crucial to depend on a roofing company capable of providing customized solutions that align with your business's specific needs and goals.

Quality Materials and Craftsmanship: The longevity and resilience of your commercial roof depend on the quality of materials and craftsmanship employed during installation and repair processes. Established commercial roofing companies prioritize top-tier materials and adhere to industry best practices, ensuring that your roof withstands the test of time and the rigors of external elements.

Cost-Effective Solutions: While the initial investment in commercial roofing may seem substantial, it is a strategic decision that pays off in the long run. Reputable companies offer cost-effective roofing solutions by using durable materials and implementing highly efficient installation and maintenance techniques. This approach reduces the need for frequent repairs and replacements, ultimately saving your business significant money over time.

Timely Maintenance and Repairs: Regular maintenance and prompt repairs are crucial in preserving the integrity of your commercial roof. Commercial roofing companies specialize in providing scheduled maintenance plans and quick repair services to address issues before they escalate. Prioritizing proactive maintenance extends the lifespan of your roof and prevents costly damage to your property.

Adherence to Industry Standards and Codes: Commercial roof repair company in Atlanta must strictly adhere to local building codes and industry standards to ensure the safety and compliance of your commercial property. Well-established commercial roofing companies have in-depth knowledge of these safety regulations and ensure that your roof not only meets but often exceeds all necessary standards. By prioritizing compliance, these commercial roofers protect your business from potential legal and safety issues.

In Conclusion: When it comes to choosing the right commercial roofing company in Atlanta, ECG Contractors is your ideal choice. With years of experience in commercial roofing, customized solutions, top-quality materials, and cost-effective options, our roofing company ensures the structural integrity of your commercial property. Feel free to reach out to us today as we take the necessary steps to protect your business investment and provide a secure roof for your business for years to come.

#commercial roofing #Roofing Companies Atlanta

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dominionra · 11 months

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Last-Mile Logistics Growth Drives Rise of Taller Warehouse Projects Across US

Posted by CoStar News | Nicole Shih and Randyl Drummer | November 8, 2023

Multistory warehouses with up to five floors of logistics space are starting to rise across the United States, five years after Prologis built the country’s first multistory warehouse in south Seattle for Amazon, in part thanks to the continued growth of last-mile logistics projects.

Vertical warehouse construction, which has been popular for at least two decades in Asia and Europe, has gained traction across the United States in recent years, with 10 multistory buildings finished or under construction in greater New York City alone, according to a JLL report called “Multistory Warehouses and Their Towering Future.”

Prologis built the U.S.' first multistory industrial project, called Georgetown Crossroads, at 6050 E. Marginal Way in 2018.

Since then, projects have emerged in other densely populated regions with limited available land for development. The San Francisco Bay Area, Southern California, Washington’s Puget Sound, Chicago, Boston and Philadelphia are all primed for more vertical logistics development, according to the report. Other promising areas for tall warehouses and other urban logistics projects include Atlanta, Miami, Dallas and Houston.

“There is tremendous potential in the future of multistory and urban logistics in both the established urban logistics markets and emerging logistics markets,” according to the report's author, JLL Vice Chairman Leslie Lanne.

Finding suitable places to build tall warehouses and other last-mile delivery facilities can be difficult due to zoning restrictions, tight land supply and competition from other types of projects, such as hotels, apartments and shopping centers, according to the report.

Developers have responded to some of the challenges with creative solutions, JLL said.

In New York’s Bronx neighborhood, developers Innovo Property Group and Affinius Capital turned a 20-acre site with an antiquated movie theater into a multistory industrial development called 2505 Bruckner.

Chicago's first multistory logistics project, the 1.2 million-square-foot 1237 W. Division, expected to open next year, is planned to include both rooftop parking and a five-story garage, according to JLL.

#market trends

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stratuspropertygroup · 5 months

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Atlanta Commercial Real Estate

Unlock Opportunities For Your Business in the Atlanta Commercial Real Estate Market

Welcome to the heart of opportunity—Atlanta, Georgia, where our thriving commercial real estate market stands as a beacon for businesses seeking growth and prosperity. Nestled in the bustling southeastern United States, Atlanta offers more than just a strategic location; it's a dynamic hub flowing with possibilities. Learn more as we explore what makes Atlanta the premier destination for your commercial real estate ventures and discover the advantages awaiting your business.

Strategic Location and Connectivity

Our city seamlessly connects us to the world through the renowned Hartsville-Jackson International Airport, ensuring unparalleled accessibility for businesses aiming to expand regionally or nationally. Atlanta’s strategic positioning makes it a coveted choice for those seeking to amplify their reach.

Diverse Industry Sectors

In Atlanta, diversity isn't just a buzzword; it's the cornerstone of our thriving commercial real estate market. From tech titans to healthcare heroes, Atlanta accommodates a plethora of industries, ensuring that every business finds its perfect match in our vibrant landscape.

Growing Economy

Atlanta isn't just growing; it's thriving. Fueled by a potent mix of corporate giants and burgeoning startups, our city nurtures innovation and fosters growth like no other. With each passing day, Atlanta solidifies its status as an economic powerhouse, attracting investment and driving demand for commercial real estate.

Variety of Commercial Real Estate Options

Whether you're dreaming of a sleek downtown office space or a sprawling suburban warehouse, Atlanta has it all. Our diverse portfolio of commercial properties caters to every need and aspiration, ensuring that your business finds its ideal home amidst our dynamic landscape. Additionally, Atlanta boasts mixed-use developments that combine retail, office, and residential spaces, providing a dynamic environment for work, leisure, and living.

Affordability

Atlanta's commercial real estate market offers affordability without compromising quality. Compared to other major cities, our rates are competitive, allowing businesses to stretch their resources further and invest in their growth with confidence.

Supportive Business Environment

At the heart of Atlanta lies a community dedicated to your success. From government incentives to bustling networking events, our city pulls out all the stops to support businesses of every size and sector. In Atlanta, your success isn't just a goal; it's a shared mission.

Conclusion

Atlanta isn't just a city; it's a promise of growth, opportunity, and success. With its strategic location, diverse industries, booming economy, expansive property options, affordability, and unwavering support for businesses, Atlanta stands as the ultimate destination for commercial real estate ventures. So why wait? Contact us today and allow Stratus help your business dreams come to life amidst a landscape brimming with possibilities!

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jerrydoney5 · 1 year

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Navigating the Thriving Landscape of Commercial Real Estate in Atlanta

Atlanta, often referred to as the "Gateway to the South," is not only a vibrant hub of culture, history, and business but also a hotbed for commercial real estate opportunities. Whether you're a seasoned investor, a business owner searching for a new location, or simply intrigued by the dynamics of this market, understanding the landscape of commercial real estate Atlanta is essential. In this comprehensive guide, we'll take a deep dive into the key aspects, trends, and opportunities that define this ever-evolving sector.

The Atlanta Advantage

Atlanta's strategic location and robust economy make it a prime destination for commercial real estate investments and ventures. Here's why this city stands out:

Economic Hub: Atlanta boasts a diverse economy, with strengths in industries such as finance, technology, logistics, healthcare, and media. This economic diversity contributes to a stable and growing commercial real estate market.

Thriving Job Market: A strong job market attracts businesses and residents alike. Atlanta consistently ranks among the top cities for job growth, driving demand for commercial spaces.

Transportation Hub: Hartsfield-Jackson Atlanta International Airport, one of the world's busiest airports, facilitates connectivity and business travel. Additionally, the city's strategic location along major highways and railways makes it a logistics powerhouse.

Cultural Hub: Atlanta's cultural attractions, including museums, theaters, and sports venues, contribute to the city's appeal as a place to live, work, and visit.

Key Segments of Commercial Real Estate in Atlanta

The commercial real estate market in Atlanta encompasses various sectors, each with its unique characteristics and investment opportunities:

Office Space: Atlanta's office market is diverse, offering options for corporate headquarters, startups, and co-working spaces. The city's business-friendly environment attracts companies seeking affordable, quality office spaces.

Industrial and Logistics: Atlanta's strategic location and excellent transportation infrastructure make it a logistics and distribution hub. Demand for industrial properties, including warehouses and fulfillment centers, continues to rise.

Retail: The retail sector in Atlanta is evolving, with a focus on mixed-use developments, experiential retail, and neighborhood centers that cater to changing consumer preferences.

Multifamily: Atlanta's population growth, fueled by job opportunities and an attractive lifestyle, drives the demand for multifamily properties. Both traditional apartment complexes and mixed-use developments are flourishing.

Hospitality: The city's tourism industry, coupled with business travel, creates a robust demand for hotels and other hospitality properties. Atlanta's diverse culture and events make it a year-round destination.

Trends Shaping the Market

Understanding the current trends in Atlanta's commercial real estate market can provide valuable insights for investors and businesses:

Tech and Innovation: Atlanta's tech sector is on the rise, attracting tech companies and startups. Areas like Midtown and the Atlanta Tech Village have become innovation hubs.

Sustainability: The focus on sustainability and eco-conscious practices is influencing commercial real estate development. Green building initiatives and LEED certification are becoming increasingly prevalent.

Mixed-Use Developments: Atlanta's development landscape is evolving with mixed-use projects that combine residential, commercial, and retail spaces, creating vibrant communities.

Adaptive Reuse: Historic buildings are being repurposed for modern uses, preserving Atlanta's rich architectural heritage while meeting contemporary demands.

Remote Work Impact: The rise of remote work has prompted discussions about the future of office spaces. Flexibility and innovative office designs are gaining importance.

Opportunities and Considerations

For investors and businesses looking to enter or expand in Atlanta's commercial real estate market, here are some key considerations:

Location: Carefully choose the location that aligns with your business goals. Different neighborhoods offer various advantages.

Market Research: Conduct thorough market research to understand demand, competition, and rental rates in your chosen sector.

Due Diligence: Engage in due diligence to assess the condition of the property, potential renovation costs, and compliance with zoning regulations.

Partnerships: Collaborating with local real estate professionals and legal experts can provide valuable insights and guidance.

Long-Term Vision: Consider your long-term objectives. Atlanta's dynamic market offers opportunities for both short-term gains and long-term investments.

Commercial real estate in Atlanta is a dynamic and lucrative sector, offering a wide range of opportunities for investors, developers, and businesses. Atlanta's economic vitality, diverse sectors, and strategic location make it a compelling destination for commercial real estate ventures. By staying informed about market trends, conducting thorough research, and carefully considering your objectives, you can navigate this thriving landscape with confidence, potentially reaping the rewards of this vibrant city's growth and prosperity.

#Commercial Real Estate Atlanta

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my-state-mls · 1 year

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Bed Bath & Beyond Announces Bankruptcy

Experts predict that Bed Bath & Beyond Inc's bankruptcy may have significant ramifications on commercial and industrial real estate properties across the globe.

On Tuesday, Bed Bath and Beyond's real-estate advisor A&G Real Estate Partners unveiled plans to auction off hundreds of home goods stores as well as their affiliated lease agreements of Buybuy Baby stores under Chapter 11 bankruptcy protection.

A&G Real Estate Advisors and JLL Commercial Real Estate are working in concert on this deal that depends on court approval for bidding procedure approval, covering "well-located shopping centers across the country," according to an A&G statement. They plan on marketing both Bed Bath & Beyond's data center in Claremont, North Carolina as well as lease agreements for distribution/warehouse centers as part of this endeavor.

According to A&G, data-center and warehouse locations range in size from 189,000-plus square feet and span across multiple states: California, Georgia, Nevada, New Jersey Pennsylvania and Texas.

Bed Bath & Beyond holds at least nine leases to distribution spaces located near key logistic hubs throughout the U.S., according to real-estate analytics and data company CoStar Group. CoStar Group tracks at least 6.1 million square feet of distribution space currently rented out across America by Bed Bath & Beyond according to Adrian Ponsen of National U.S. Industrial Analytics at CoStar Group who told MarketWatch they tend to lease large modern spaces as warehouse space versus local stores or malls.

CoStar statistics reveal that 85% of Bed Bath & Beyond's distribution space in the U.S. resides within buildings constructed post 2005 that exceed 500, 000 square feet - which represent "high-quality big box distribution space", stated Ponsen while noting certain cities with strong needs for such centers like Las Vegas and northern New Jersey, where Bed Bath & Beyond currently owns multiple distribution centers - such as two in Las Vegas and three each for northern New Jersey (ie two total). "I don't anticipate it being difficult finding tenants for these particular spaces," He declared. Ponsen believes other retailers and logistics providers from third parties could likely replace Bed Bath & Beyond distribution centers in terms of sales volumes and network growth. "There is still significant growth occurring among many retailers who sell basic day-to-day necessities," stated Ponsen as evidence. But, he did not rule out that Bed Bath and Beyond's distribution facilities in Atlanta and Memphis might be taken over by large manufacturers who might acquire these locations for themselves.

Bed Bath & Beyond leases take place at "well-located shopping centers across the country", according to A&G Real Estate Consulting's research. Their stores span 48 states plus DC with 18,000 to 92,000 square foot stores located there and within it; Buybuy Baby stores range between 14,000-63,000 square feet according to them.

Mitch Rosen, Head of Real Estate for Yieldstreet (an alternative-investment platform for retail investors), noted the "slow and steady demise" of Bed Bath & Beyond should come as no shock to owners or investors in commercial real-estate spaces. While other retailers adapted and changed with times to remain successful, some did not pivot quickly or adequately enough resulting in what we see with Bed Bath & Beyond today, according to Rosen's statement.

Though Rosen asserted retail is by no means dead, Bed Bath and Beyond's founder warned about how its bankruptcy might influence commercial real property ownership. Owners may face difficulty filling all their properties' space as leases could be denied due to bankruptcy - thus necessitating more funds in order to rent smaller spaces." he commented.

"Any strategy will incur time costs, dollar costs and uncertainty at its ultimate success," Rosen emphasized. "This may take time."

Bed Bath & Beyond shares have started trading over-the-counter after Nasdaq Composite COMP 1.04 percent initiated the process to delist them in response to bankruptcy filing. Trading as BBBYQ on initial day trading; stock has since gained 5 percent to 20 cents trading today.

Bed Bath and Beyond's bankruptcy was precipitated by an extended period marked by missteps in strategic planning, cash burning and an adjustment in business models due to COVID-19's pandemic outbreak.

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