Choate Picks Up the Pace with Southeast Real Estate Business
May 26, 2021
As the Southeast begins to feel the positive impacts of administered COVID-19 vaccines, and with March marking an uptick in project starts, Southeast Real Estate Business Magazine called upon Choate’s Matt Brewer, President & CEO, to weigh in on the state of the market.
Despite a near full economic shutdown, several “hot commodities,” as the Magazine describes, such as multifamily housing, industrial distribution, and life sciences projects, march forward. “One area where we’ve seen substantial opportunities and increases is in the industrial warehousing markets,” Brewer shares.
Due to the increased demand in online shopping over the last year (decade, really), industrial construction projects became highly competitive for general contractors across the country. Particularly in port cities, where distribution and manufacturing companies have quick access to goods and supplies shipped from overseas. Brewer notes, “We have well-established offices in Charleston and Savannah, and there is a lot of port activity in the industrial and multifamily markets.”
While the Southeast marks positive progression out of COVID-19, material pricing and availability are still reeling from the supply chain impact. From buying lumber futures, to a fast buyout strategy as Brewer expands upon, finding ways to overcome these hiccups is critical to keeping projects on track.