Downtown absorbed the 3rd highest amount of office space in Atlanta in 2017
Author: Scott Amoson
Thanks to strong occupancy gains in the first quarter and back half of the year, Downtown absorbed the 3rd highest amount of office space in Atlanta in 2017. Georgia’s Own Credit Union, the Atlanta Regional Commission, and Anthem were the largest moveins during the year.
Downtown’s office vacancy rate has declined for the second consecutive quarter. Year-over-year it is down 90 basis points (0.9%). The rate currently sits at its lowest point since 2008.
Office rents in the submarket continue to be the highest they have ever been as the overall asking average just eclipsed the $25 per square foot market for the first time ever.
Downtown has started seeing more and more positive activity head its way over the coming year and this is not expected to slow. Should Amazon choose Atlanta for its HQ2 location, the submarket has one of the better chances of having the new headquarters located here.