Atlanta, GA

With office vacancy rates expected to hit 20 percent this year in metro Atlanta, landlords face increased poaching of tenants by competitors offering more attractive deals.

For tenants, it’s an opportunity to improve the quality of their space, Julian Diaz, chair of the real estate department at Georgia State University, said Monday. But if you’re a landlord, “you’re trying to hang on until things turn around,” Diaz said. He added that the consensus is that could happen as late as 2011.

For many landlords, hanging on may mean renegotiating deals and lowering rents, while getting concessions such as longer leases.

A report last week from Atlanta-based Colliers Spectrum Cauble that metro Atlanta’s overall office vacancy rate of 17 percent in the first quarter of 2009 grew only 1.1 percent from the same period in 2008 surprised some experts.

Colliers International

Colliers International is a worldwide affiliation of independently owned commercial real estate firms.

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Heather Francis
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