After three consecutive quarters of negative absorption, Northeast Atlanta’s office market finally posted a positive occupancy gain in the fourth quarter. Just over 100,000 square feet was absorbed in Q4, led by DiversiTech’s and TTEC’s 30,000+ square foot occupancies.
- Despite the positive quarter, it was not enough to bring the submarket out of negative territory for the year. Northeast Atlanta finished 2018 with the worst absorption performance of Atlanta’s office submarkets.
- The average rental rate in Northeast Atlanta increased 3.4% yearover- year even with an increase in vacancy levels. Class A rents have shown the most steadiest increases in the submarket.
- Northeast Atlanta is still playing catch up to a lot of the demand taking place in more urban submarkets. There are some signs the submarket will begin making a more positive turn in the coming year.