- Occupancy levels in Buckhead increased by 50 basis points (0.5%) this quarter after posting the third highest absorption in Atlanta for the period. The submarket absorbed almost 100,000 sq. ft. in Q2. WeWork’s move into Terminus 100 accounted for 48% of the total.
- The positive activity led to the submarket’s third consecutive quarter with a decrease in its vacancy rate. At 12.4%, Buckhead’s office vacancy is back to its lowest level in over a year.
- Leasing activity remains steady, however, most of the larger deals this quarter were renewals.
- The submarket’s average rental rate increased yet again; however, most of this came from Class B properties which saw its overall average jump to another record high.
- Buckhead should continue to see positive occupancy gains through the end of the year, remaining one of Atlanta’s strongest office submarkets in 2018.