Key Takeaways

  • 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.

 

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