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Atlanta & Southeast  + Atlanta  + Office  | 
Brokerage firm Savills has released a report showing Metro Atlanta’s office direct vacancy rate is 28.2 percent

Almost 30% of Atlanta’s Direct Lease Office Space is Vacant

Brokerage firm Savills has released a report showing Metro Atlanta’s office direct vacancy rate is 28.2 percent. It’s the highest level recorded since Savills started tracking the market in 2005 and 26.5 percent higher than last year at this time.

This does not include the sublease supply, which has had a 40-percent YOY increase.

In the second quarter, more than 50 million square feet of combined direct and sublease space was empty. Leasing was at 1.6 million square feet in Q2, up from Q1 but down from 2.2 million square feet in 2022.

Still, Savills says landlords haven’t lowered rent, which increased half a basis point year-over-year to $30.85 per square foot in Q2. Many are offering tenant incentives to draw attention while potential tenants struggle to right-size their offices, with many employees working remotely at least part of the time.

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About Angela Noote

Angela Noote is a native of Northern California and graduated from Chico State with a degree in public relations. After college she moved to the Central Coast and worked first in ad sales then in editorial, eventually spending more than a decade as a print reporter and editor. She detoured into design work at a printer/publisher, and with a partner eventually opened a boutique full-service marketing agency. Moving into corporate communications, she built and managed several successful marketing teams in the hospitality, financial services, and nonprofit industries. Most recently she was an internal comms manager in the tech sector. After a long stint spent in Georgia (Go Dawgs), she moved to Baton Rouge, LA and has written for clients in the financial, luxury imports, higher ed, commercial cleaning, and medical equipment industries. Her son is a media arts major at the University of South Carolina, and her husband owns a comedy theater in Baton Rouge, where you can often find Angi teaching improv classes, leading corporate training events, or doing an occasional stand up set.

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