Key Takeaways

  • Midtown absorbed the most space of any submarket in Atlanta for the second consecutive year. Tech growth, along with demand for space from co-working companies are at the forefront of the submarket’s positive activity.
  • The submarket maintains the highest average rent in Atlanta, surpassing Buckhead. For the first time in the city’s history, office rents have reached the $50/sf mark. These rates are being quoted in Midtown.
  • Office construction is highest in the Midtown submarket. Although this amount is expected to drop in the first quarter of 2018 with NCR’s first phase delivery, it will increase again once Hines breaks ground on its T3 project and Portman begins work on Anthem’s build-to-suit later this year.
  • Early indications suggest Midtown will lead the Atlanta market in office space absorption yet again in 2018. The submarket is seeing strong demand and remains the most desirable location.