Key Takeaways

  • Second quarter absorption was modest in the North Fulton submarket.  Only 17,000 square feet was absorbed.  After Q1 revisions though, the year-to-date total for the submarket is now almost 70,000 square feet.
  • The overall office vacancy rate in North Fulton showed no change quarter-over-quarter.  It remains below 12% and down slightly from this time last year.
  • Liberty Village, which is adjacent to Avalon, was the only delivery in the submarket this quarter.
  • Rental rates continue to rise in North Fulton; however, this quarter’s increase came mostly from Class B properties.
  • Although activity as of late has been somewhat quiet, there is anecdotal evidence North Fulton is about to see a flurry of large leasing deals.  Axis’ pre-lease at 10000 Avalon is just the beginning according to those familiar with the submarket.