Atlanta office market reports
Office insights Q3 2021
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Strong leasing and investment sales activity seen during the third quarter of 2021 have pushed the metro Atlanta office market towards pre-pandemic levels. Though the vacancy rate remained unchanged, the market saw significant positive absorption during the quarter which is anticipated to continue through the end of the year.
Unemployment rate in metro Atlanta, down 950 bps from the height of the pandemic.
The overall post-COVID rate of recovery based on extrapolated cell phone data. Led by growth in transit and education.
Total leasing activity in metro Atlanta during the third quarter. Largest quarterly total since the third quarter of 2019.
Amount of new office space currently under construction. The market has seen 2.8 msf of new space added to the inventory through the third quarter.
Year-over-year increase in rental rates. Anticipated to remain steady as landlords evaluate their concession packages and construction costs begin a downward trend.
Total office investment volume (in billions) in metro Atlanta for the period from Jan 2020 through Jun 2021. The largest sale during Q3 was Cousins Properties’ $300 million acquisition of 725 Ponce in Midtown.
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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.
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