Sandy Springs - Innovative Health And Wellness (2024)

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CPI Charts | Southeast CPI Card

Area prices up 3.1 percent over the past 12 months

The Consumer Price Index for All Urban Consumers (CPI-U) for Atlanta-Sandy Springs-Roswell rose 0.3 percent from February to April, the U.S. Bureau of Labor Statistics reported today. (See table A.) Regional Commissioner Victoria G. Lee noted that the bi-monthly all items increase was largely attributed to increases in the gasoline and shelter indexes. (Data in this report are not seasonally adjusted. Accordingly, bi-monthly changes may reflect the impact of seasonal influences.)

The all items CPI-U advanced 3.1 percent for the 12 months ending in April. (See chart 1 and table A.) The index for all items less food and energy rose 2.8 percent over the past year. The energy index and the food index also increased over the last 12 months, up 6.9 percent and 2.6 percent, respectively. (See table 1.)

Food

The food index rose 0.3 percent from February to April, reflecting increases in the food at home (+0.3 percent) and the food away from home (+0.2 percent) indexes. Four of the six major grocery store food group indexes increased over the two-month period, including nonalcoholic beverages and beverage materials (+3.6 percent) and cereals and bakery products (+2.5 percent). In comparison, the indexes for fruits and vegetables (-2.2 percent) and other food at home (-0.8 percent) declined from February to April.

The food index advanced 2.6 percent for the 12 months ending in April, led by a 4.0-percent increase in the food away from home index. The food at home index also increased over the past year, up 1.7 percent. Four of the six major grocery store food group indexes increased over the last 12 months, including the indexes for fruits and vegetables (+4.4 percent) and cereals and bakery products (+5.1 percent).

Energy

The energy index rose 2.4 percent from February to April, reflecting a 9.3-percent jump in the gasoline index. The index for electricity changed little over the bi-monthly period, up 0.1 percent. In comparison, the index for natural gas declined 13.2 percent from February to April.

The energy index advanced 6.9 percent for the 12 months ending in April, primarily due to a 15.0-percent increase in the electricity index. The gasoline (+2.6 percent) and natural gas (+4.0 percent) indexes also increased over the 12-month span.

All items less food and energy

The index for all items less food and energy rose 0.1 percent from February to April. The shelter index contributed to the increase, up 0.3 percent over the two-month period. The index for owners’ equivalent rent rose 0.7 percent, while the index for rent of primary residence declined 0.2 percent over the bi-monthly period. Among the other indexes to decline from February to April include household furnishings and operations (-4.2 percent), new and used motor vehicles (-1.0 percent), and apparel (-1.5 percent).

The index for all items less food and energy advanced 2.8 percent for the 12 months ending in April. Shelter (+4.9 percent) was the largest contributor as owners’ equivalent (+5.9 percent) and rent of primary residence (+3.9 percent) also increased over the past year.

The Atlanta-Sandy Springs-Roswell Consumer Price Index for June 2024 is scheduled to be released on Thursday, July 11, 2024, at 8:30 a.m. (ET).

Technical Note

The Consumer Price Index for Atlanta is published bi-monthly. The Consumer Price Index (CPI) is a measure of the average change in prices over time in a fixed market basket of goods and services. The Bureau of Labor Statistics publishes CPIs for two population groups: (1) a CPI for All Urban Consumers (CPI-U) which covers approximately 93 percent of the total U.S. population and (2) a CPI for Urban Wage Earners and Clerical Workers (CPI-W) which covers approximately 29 percent of the total U.S. population. The CPI-U includes, in addition to wage earners and clerical workers, groups such as professional, managerial, and technical workers, the self-employed, short-term workers, the unemployed, and retirees and others not in the labor force.

The CPI is based on prices of food, clothing, shelter, fuels, transportation fares, charges for doctors' and dentists' services, drugs, and the other goods and services that people buy for day-to-day living. Each month, prices are collected in 75 urban areas across the country from about 6,000 housing units and approximately 22,000 retail establishments—department stores, supermarkets, hospitals, filling stations, and other types of stores and service establishments. All taxes directly associated with the purchase and use of items are included in the index.

The index measures price changes from a designated reference date; for most of the CPI-U the reference base is 1982-84 equals 100. An increase of 7 percent from the reference base, for example, is shown as 107.000. Alternatively, that relationship can also be expressed as the price of a base period market basket of goods and services rising from $100 to $107. For further details see the CPI home page on the internet at www.bls.gov/cpi and the CPI section of the BLS Handbook of Methods available on the internet at www.bls.gov/opub/hom/cpi/.

In calculating the index, price changes for the various items in each location are averaged together with weights that represent their importance in the spending of the appropriate population group. Local data are then combined to obtain a U.S. city average. Because the sample size of a local area is smaller, the local area index is subject to substantially more sampling and other measurement error than the national index. In addition, local indexes are not adjusted for seasonal influences. As a result, local area indexes show greater volatility than the national index, although their long-term trends are quite similar. NOTE: Area indexes do not measure differences in the level of prices between cities; they only measure the average change in prices for each area since the base period.

The Atlanta-Sandy Springs-Roswell, GA Core Based Statistical Area is comprised of Barrow, Bartow, Butts, Carroll, Cherokee, Clayton, Cobb, Coweta, Dawson, DeKalb, Douglas, Fayette, Forsyth, Fulton, Gwinnett, Haralson, Heard, Henry, Jasper, Lamar, Meriwether, Morgan, Newton, Paulding, Pickens, Pike, Rockdale, Spalding, and Walton Counties in Georgia.

Information in this release will be made available to individuals with sensory impairments upon request. Voice phone: (202) 691-5200; Telecommunications Relay Service: 7-1-1.

SANDY SPRINGS, GA. — First National Realty Partners (FNRP) has executed a 28,000-square-foot retail lease with US Foods CHEF’STORE in Sandy Springs, a northern suburb of Atlanta. The retailer, which caters to food industry professionals and at-home chefs, will occupy space within City Center Crossing, a 98,048-square-foot shopping center located at 6331 Roswell Road.

The store will be the first location in the Atlanta area for CHEF’STORE and is set to open by the end of the year. Red Bank, N.J.-based FNRP purchased City Center Crossing in 2021. Other tenants at the center include Planet Fitness, Gold Fish Swim School and Hudson Grille.

NEW YORK CITY — SCALE Lending, the debt financing arm of Slate Property Group, has provided a $140 million construction loan for a 354-unit multifamily project that will be located at 2366 Bedford Ave. in Brooklyn’s Flatbush neighborhood. Designed by S. Wieder Architect PC, the seven-story building will feature ground-floor retail space, onsite parking and amenities such as a café/business lounge, wet and dry saunas, golf simulator and a cycling studio. Leah Paskus of Landstone Capital Group arranged the loan on behalf of the borrower and developer, Clipper Equity. Completion is slated for the third quarter of 2025.

CARROLLTON, GA. — Stratus Property Group has purchased a 38,000-square-foot shopping center located at 415 Rome St. in downtown Carrollton, about 45 miles west of Atlanta. The acquisition included three acres of land. The seller and sales price were not disclosed. The center was built in 1980 and includes five tenant spaces, according to LoopNet Inc. Current tenants include long-time restaurants Shuckers Oyster House and Sutton’s American Grill.

Stratus Property Group is working with the City of Carrollton to reimagine the center. In addition to the revamp of this retail center, Carrollton will soon house four breweries/distilleries and The Amp, a new public amphitheater.

DevelopmentFloridaMultifamilySoutheast

March 18, 2024

CLERMONT, FLA. — Kolter Multifamily LLC, an affiliate of Delray Beach, Fla.-based The Kolter Group, has begun leasing Alton Serenoa, a 300-unit apartment community in Clermont. The property sits about 26 miles west of Orlando and serves as a multifamily component of Serenoa, a master-planned community.

Alton Serenoa will feature a mix of one-, two- and three-bedroom floor plans, as well as a one-story clubhouse and a resort-style swimming pool. Monthly rental rates range from $1,535 to $2,305, according to the property website.

MIAMI — JLL has arranged a $73.6 million acquisition loan for a four-property industrial portfolio. The assets are located in Fremont, Calif.; Houston; Gouldsboro, Pa.; and Tampa, Fla. Melissa Rose, Michael DiCosimo and Nicole Barba of JLL’s Miami office, along with JLL colleagues Colby Mueck (Houston), Michael Pagniucci (Philadelphia) and Taylor Gimian (San Francisco), arranged the financing on behalf of the borrower, a fund of Houston-based Hines. The four properties were fully leased to 10 tenants at the time of financing, including Coca-Cola, Tesla, Sysco, Costco and Americold.

MIDLOTHIAN, VA. — A joint venture between HHHunt Cos. and GrayCo will soon develop The Aire at Westchester, a 334-acre master-planned community located at the intersection of the Midlothian Turnpike and State Route 288 in suburban Richmond’s Chesterfield County. The property will house 2,200 residential units and 180,000 square feet of commercial space upon completion.

David Smith of Cushman & Wakefield | Thalhimer represented GrayCo, which is the landowner, in the joint venture arrangement. HHHunt is the managing partner of the ownership group. HHHunt and GrayCo plan to break ground on Phase I of The Aire at Westchester in the spring.

DENVER — Malman Commercial Real Estate has arranged the sale of 131 Madison Street, an office building located in Denver’s Cherry Creek district. University of Colorado Health, a Colorado nonprofit corporation, acquired the asset from 131 Madison Investors, a Texas limited liability company, for $3.1 million.

The property offers 6,156 square feet of office space. Jake Malman and Taylor Roy of Malman Commercial Real Estate represented the seller, while Kyle Underwood and Julie Burch of Legend Partners represented the buyer in the deal.