Atlanta office market reports

Q1 2022

The Atlanta office market saw activity slightly decline during the first three months of 2022 after a strong second half in 2021. However, rental rates have maintained their upward momentum as has construction activity. Numerous companies have announced new locations or expansions of their existing space which will drive leasing and absorption activity through the remainder of 2022.

4.0 msf

Development

Speculative construction activity remains strong, especially in the Midtown submarket. 26% of the space currently underway is preleased. 

-527,666 sf

Net Absorption

After two consecutive quarters of positive absorption, activity slowed in the first quarter. Numerous large leases have been announced which should lead to the return of positive absorption later in the year.

$30.52 psf

Direct Asking Rent

Average asking rents recorded an increase year-over-year, up 3.4%. As activity and construction costs remain high, rates will maintain their upward trend. 

48.7 msf

Availabilities

The market saw almost 1.0 msf of new sublease space become avaialble during 1Q22 for a total of 5.9 msf.

20.5%

Vacancy

The overall vacancy rate has remained stable over the last few quarters and is anticipated to decline later in the year as the market records more positive absorption. 

$857.7M

Investment Sales

Activity has steadily increased since the significant decline in 2020. Numerous significant urban office sales have driven this activity as well as the average price per square foot.

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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.

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