1Q 2019 | Atlanta North Fulton Submarket Report
North Fulton experienced a modest quarter of absorption in Q1, much like every other office submarket in Atlanta. Just under 24,000 square feet of space was absorbed to start the year.
With reserved occupancy gains this quarter, North Fulton's overall vacancy rate showed no significant movement from the end of 2018. It remains at its highest level in four years.
Office leasing was steady in the submarket; however, most of the larger transactions were renewals. Still, a number of new, full-floor leases show there continues to be demand for office space here.
Average rents increased for an eighth consecutive quarter and continue to reach record highs. The Class A average is up a full $1.00/SF from this time last year.
On the whole, North Fulton's outlook for 2019 remains unchanged. The submarket is expected to see stronger occupancy gains beginning next quarter.