North Fulton bounces back in the first quarter of 2020

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NFulton_2019

North Fulton bounced back as expected in the first quarter of the year with just over 163,000 square feet of positive absorption.

Key Takeaways

  • Q1's occupancy gains can be attributed to a multitude of tenants moving into between 10,0000-30,000 square feet across the submarket. Axis Capital was the largest occupancy this quarter; however, the insurance company downsized slightly from its previous North Fulton location.
  • Despite the positive absorption, the submarket saw its vacancy rate increase yet again. This comes as no surprise though given the deliveries of 10000 Avalon and 1 Edison which are expected to see occupancies take place in the coming quarters.
  • Thanks to new deliveries, the average rent in North Fulton is up 1.9% quarter-over-quarter; Class A rents are up 1.2%.
  • Fundamentals show North Fulton will continue to see steady growth in 2020; however, COVID-19's impact on the submarket is to be determined.

1Q20_NFulton

North Fulton bounces back in the first quarter of 2020

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Scott Amoson

Director - Research

Atlanta

Scott is the Director of Research for Colliers International in Atlanta, Georgia.  In his role, Scott supports all of the company's brokers in the Atlanta office.  He also manages the Research Associate in the company, and mentors an intern annually during the summer.

Scott began his real estate career in 2000 as a research assistant with Richard Bowers & Co., a local brokerage firm.  He joined Colliers International in Atlanta in 2003.  Scott specializes in aiding the company's clients with geographical, informational and analytical research.  With his extensive knowledge, he provides customized research data including:  market trends, lease and sales comparables, plats/ownership information, demographics, prospect information and economic information.  In addition to supporting the company's brokers and staff, his other responsibilities include compiling and writing quarterly market and submarket newsletters, maintaining the company's internal database of over 10,000 sales and lease transactions, and tracking news/trends related to Atlanta's commercial real estate market.  He is frequently called upon by local news sources for his knowledge and expertise of real estate matters in Atlanta.

As a member of the Colliers International Research Council, he advises on quarterly conference calls and provides valuable input on matters directing the research platform for Colliers International.  Scott was recently selected as the Research Ambassador for the Southeast Region as a part of Colliers International's Centers of Excellence platform.

Scott is a native of Atlanta, and enjoys spending time with his wife Lupe and daughter Sienna.  He is an avid golfer and loves vacationing with family.

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