After three consecutive quarters of positive absorption, North Fulton begins 2018 in negative territory
Author: Scott Amoson
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.