Atlanta Office Market
| Average Asking Rent (Price/SF) | $30.84 |
| Vacancy Rate (%) | 23.1% |
| Net Absorption (SF) | 263,498 |
Atlanta’s office market demonstrated strong tenant demand in the fourth quarter of 2022 with 263,000 square feet of absorption gains, down from 511,000 square feet the previous quarter and up from 48,981 square feet of negative absorption one year ago. All industrial product subsets saw increases in positive absorption in the fourth quarter of 2022. Class A properties were responsible for 247,000 square feet in positive absorption, down from 545,000 square feet the previous quarter and a loss of 238,000 square feet one year ago. Class B properties had 29,000 square feet in positive absorption, up from a loss of 2,000 square feet the previous quarter and down from 159,000 square feet one year ago.
Download Atlanta Office Market Report 4Q22
Atlanta Industrial Market
| Average Asking Rent (Price/SF) | $6.95 |
| Vacancy Rate (%) | 3.6% |
| Net Absorption (SF) | 5,533,659 |
Atlanta’s industrial tenant demand resulted in positive absorption in the fourth quarter of 2022, tallying 5.5 million square feet, down from 7.5 million square feet in the previous quarter, and up from 3.7 million square feet one year ago. Warehouse and distribution industrial properties led with the majority of tenant movements, accounting for demand growth of 5.4 million square feet. General and flex spaces saw tempered tenant demand in the fourth quarter of 2022, although still in positive absorption territory with demand growth of 42,000 square feet. Atlanta’s vacancy rate sits at a new low of 3.6%, down 50 basis points from the previous quarter of 4.1% and down yet another 100 basis points from 4.6 % one year ago. The overall asking average rental rate increased to $6.95/SF in the fourth quarter of 2022, up from $6.56/SF the prior quarter and relative to $6.07/SF one year ago.
Download Atlanta Industrial Market Report 4Q22