Downtown had the second highest amount of office absorption in the Atlanta market this quarter. Expansions by Boston Consulting and the Atlanta Hawks were the largest occupancies; however, the absence of large move-outs was a big contributor to the positive Q2.
Office vacancy dropped to 13.2% following the occupancy gains this quarter. This is the lowest Downtown’s vacancy rate has been in 15 years.
The submarket’s office leasing remained active in the second quarter. Expansions from existing tenants continue to take place. The most notable deal was from CallRail which expanded yet again at 100 Peachtree. The new lease will add another 300 jobs here.
Rental appreciation continues in the submarket as the average for office space increased for a 6th straight quarter.
Given the consistent demand for space taking place, Downtown is expected to see yet another strong quarter of activity in Q3.
Downtown had the second highest amount of office absorption in the Atlanta market this quarter