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Atlanta Office Market on Rebound
A recently released Transwestern Atlanta office report indicates that the sector is showing signs of life.
Absorption: Companies that have kicked the can for the last couple of years are finally starting to make real estate decisions, resulting in the first positive absorption quarter for the Atlanta market in over two years.
Vacancy: Atlanta always carries a high vacancy rate compared to other metros, even in good market conditions. The delivery of three vacant buildings totaling 869,524 SF contributed to an increase in the market’s direct vacancy of 40 basis points or 25%.
Sublease Space: Sublease inventory has declined 4.2% over the last two quarters, with the completion of several large transactions.
Construction: The amount of space under construction has hit a 14-year low (for SF underway), partly due to leasing pessimism and high construction costs.
- ◦Economy
