Atlanta office market reports
Q1 2024
The Atlanta office market ended first quarter with 162,551 sf of negative absorption. Rental rates remain steady and construction activity has decreased year-over-year due to an increase in availability. 2.4 msf of new product is set to deliver in 2024 and 2025 giving preexisting properties the chance to increase leasing activity and newer inventory should see a reduction in vacancy rates. The Atlanta market overall is seeing an uptick in leasing activity exhibiting a 5.3% increase when comparing signed deals quarter-over-quarter. Although many tenants in the market are still targeting the urban markets for new locations, vacancy rates for sublease space have reached an all-time high at 1.6%. Less sublease space is being added to available inventory, but there seems to be a challenge leasing the preexisting supply before tenants officially vacate their space.
Leasing activity on the rise in 2024
2.1 msf of leasing activity was captured during first quarter, a 5.3% increase quarter-over-quarter.
New product set to deliver in 2024 and 2025
As less space is set to deliver, preexisting high vacancy properties are positioned to see an increase in leasing activity and reduce vacancy rates.
Vacant sublease space hits record high for urban submarkets
While available sublease space listed on the market is down nearly 2% quarter-over-quarter, vacancy rates have risen 80 BPS year-over-year.
Your source for the latest Atlanta office market reports
Get in-depth office market reports and insights from commercial real estate experts in the Greater Atlanta area. Avison Young advisors look at Atlanta commercial real estate activities and the latest Atlanta statistics to provide you expert market research on Atlanta's office properties.
Explore different topics like the latest office market pricing trends and analysis of Atlanta's current office real estate market conditions. Gain a better understanding of Atlanta’s office real estate outlook and stay ahead of current office space trends. Make smart decisions when it comes to investing in office properties in Atlanta's competitive office real estate market. Avison Young is your trusted source for commercial real estate office market insights in Atlanta.
The dashboard was delivered through AVANT by Avison Young: leveraging real-time data and analytics to make cities and location-based decisions more transparent and efficient. Learn more about AVANT.