Atlanta Office Market
| Average Asking Rent (Price/SF) | $29.23 |
| Vacancy Rate (%) | 22.3% |
| Net Absorption (SF) | -163,891 |
Corporate consolidations continued to impact the Atlanta region’s office market, as the newly vacated space and delivery of new construction pushed the overall vacancy rate up 220 basis points from last quarter to 22.3%. This is the highest the vacancy rate has been in almost 10 years. Meanwhile, the completion of new construction is putting upward pressure on asking rents as the overall average surpassed the $29.00/SF threshold for the first time, to end the quarter at $29.25/SF. This was a 1.4% increase from one year ago.
Download Atlanta Office Market Report 2Q21
Atlanta Industrial Market
| Average Asking Rent (Price/SF) | $5.21 |
| Vacancy Rate (%) | 5.7% |
| Net Absorption (SF) | 8,228,117 |
Demand for space in the Atlanta region remains at an all-time high, driving vacancy downward and rents higher. Space is being leased quickly, resulting in many tenants needing to identify potential back up options in case their first choice is taken before they make their decision. Developers remain bullish on new construction, adding an additional 6.0 million square feet to the pipeline during the quarter.
Download Atlanta Industrial Market Report 2Q21