Southeast Travels - Highlights From Charlotte & Atlanta

Research evidence excerpt

Southeast Travels - Highlights From Charlotte & Atlanta

Real Estate | REITs

May 15, 2026

Steve Sakwa Southeast Travels - Highlights From

212-446-9462

Steve.Sakwa@evercoreisi.com Charlotte & Atlanta

James Kammert We spent the better part of the week (3 days) canvassing the

312 705-4233 Charlotte and Atlanta markets with a wide range of companies

james.kammert@evercoreisi.com spanning residential, retail, office, industrial & storage.

Michael Griffin, CFA

212-752-0886 As outlined inside the note, the markets continue to show signs

Michael.Griffin@evercoreisi.com of improvement across the residential and office sectors while

Manus Ebbecke, CFA demand remains robust for high quality malls such as South

212-812-2910

Manus.Ebbecke@evercoreisi.com Park in Charlotte and Lexon Square in Buckhead. Despite

investor concerns over high gas prices and a K-shaped

economy, both malls are 100% leased with SPG continuing to

improve the shopping experience through an active re-

merchandising effort (lots of barriers were up in both centers) as

well as the selective removal of carts / kiosks to improve site

lines and create a better shopping experience for the consumer.

Our office visits including stops with CUZ and HIW in both cities

while we toured a few of PDM’s assets in the Galleria and

Midtown Atlanta. It’s clear from the visit in both cities that

premier office space is seeing a notable uptick in pricing power

(similar to Park Avenue in NYC although not to the same degree)

and we’d expect this trend to continue throughout 2026. We

even heard a few examples of tenants who have 2028 and 2029

expirations getting a little antsy about their renewal options

especially if they have bigger space needs. It wouldn’t be

surprising if this leads to some incremental early renewals which