Key Takeaways

  • No significant change in Atlanta’s overall office occupancy rate occurred this quarter as net absorption totaled only 45,000 square feet. This brings the year-to-date total to 375,300 square feet.
  • Occupancies and vacancies practically balanced one another out in Q3. Expansions by Delta Dental, Delta CommunityCredit Union, and Industrious were countered by space consolidations and contractions by Sprint, WellStar, and Towers Watson.
  • With the minimial increase in occupied space, Atlanta’s overall office vacancy rate remained unchanged at 13.9%.
  • At 173,000 square feet, 3400 Overton was the only significant delivery in the third quarter. The building is 65% leased.
  • Q3’s uninspiring results were not surprising given the anticipated moves during the quarter. The final three months of the year should see more positive traction given all of the recent lease expansions signed and set to take occupancy.