Key Takeaways

  • Wages are up 3.3% year-over-year and Atlanta’s unemployment rate remains at 4.3%.
  • Leasing activity has slowed as asking rates reach the highest point in over 5 years due to a tighter market.
  • The Atlanta vacancy rate has dropped to 7.2%, which is the lowest for the market in the last 10 years.
  • Macroeconomic conditions in Atlanta continue to be positive with the unemployment rate down to 4.2% from 4.8% a year prior and the Atlanta consumer price index up 3.2% year-over-year. As of November the Atlanta economy had added 56,000 jobs over the last 12 months. This brought Atlanta’s employment figure to over 2.8 million people.

 1Q18_RetailHighlight

Atlanta Retail Market

The continued evolution of retail, which increasingly prioritizes selling services over products, is on further display this quarter with a frenzy of restaurant leases and openings in nontraditional retail space. Office landlords, condos, new mixed-use developments and even industrial landlords are all creating fine dining experiences. The following discussion may make you hungry...