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Atlanta Market Reports

Atlanta Office Market

Average Asking Rent (Price/SF) $27.03
Vacancy Rate (%) 17.4%
Net Absorption (SF)   290,252

Market fundamentals were quiet to start 2019 in Atlanta's office market. Lower job growth in 2018 resulted in a slowdown in the office market that has continued into the new year. The vacancy rate crept up 20 basis points over the quarter to 17.4%, remaining above 17.0% for the past year due to the completion of new construction. However, several leases have been signed in the past six months with more pending that will have a positive impact on the market and lead to lower vacancy in 2019. Norcross/Peachtree Corners and NE I-85 Outside I-285/Gwinnett maintained the region's highest vacancy rates after several tenants relocated inside the Perimeter in 2018. The space has yet to be backfilled.

Atlanta Industrial Market

Average Asking Rent (Price/SF)                     $5.26
Vacancy Rate (%)               7.0%
Net Absorption (SF)        631,226

The Atlanta industrial market started off 2019 on a quiet note, as fundamentals were much softer in the first quarter than they have been over the past several years. The vacancy rate increased because a significant amount of vacant space was delivered, while moves into existing product were limited. The asking rate experienced a quarterly decline for the first time in almost two years. Despite these occurrences, several leases and sales were pending at the end of the first quarter, meaning this quarter will likely be an anomaly in the region's current expansion period.

 

 



Atlanta Office Market Report
1Q19
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Atlanta Industrial Market Report
1Q19
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