Atlanta Office Market
| Average Asking Rent (Price/SF) | $29.55 |
| Vacancy Rate (%) | 22.3% |
| Net Absorption (SF) | 188,529 |
The region saw an increase in total rentable building area over the previous quarter, with four smaller office buildings totaling approximately 300,000 square feet. Demand outpaced supply for the second consecutive quarter with over 190,000 square feet of absorbed space. Total vacancy for the office sector remained level at 22.3%, due to the added vacancy from the construction completions. Market corrections from the pandemic have yet to impact asking rental rates, as averages continue to either remain stable or increase slightly. The overall asking rental rate average increased by $0.05/SF from the previous quarter and $0.67/SF from to $29.55/SF one year ago. The Class A segment saw a slight correction from the previous quarter, as secondary available space has more of an impact on averages but still increased by $0.44/SF from one year ago
Download Atlanta Office Market Report 4Q21
Atlanta Industrial Market
| Average Asking Rent (Price/SF) | $5.32 |
| Vacancy Rate (%) | 5.0% |
| Net Absorption (SF) | 6,277,192 |
Warehouse-distribution space needs remained strong throughout the region, with another 6.2 million square feet of positive net absorption recorded during the third quarter of 2021. More than 22.6 million square feet of industrial inventory was absorbed through the first three quarters of the year, as the market was on track to surpass the 23.3 million square feet record set in 2020. The industrial sectors’ rise to the top of the commercial markets translated into a 220-basis-point drop in vacancy to 5.0% from this time last year, the lowest vacancy rate recorded in the market’s history. Space continued to be leased quickly, while developers and landlords hold the cards during negotiations.
Download Atlanta Industrial Market Report 3Q21