Downtown led the Atlanta market in office absorption this quarter with 230,852 square feet absorbed. This is the third consecutive quarter the submarket has absorbed over 100,000 square feet. This has resulted in Downtown having the highest occupancy gains so far this year in Atlanta.
Move-ins at the Bank of America Plaza accounted for 27% of this quarter’s positive activity. Revel Systems and Flexport each occupied a full floor this quarter.
Demand for office remains elevated in the submarket. Downtown has been receiving a lot of positive attention as it relates to investment activity and expansion announcements this year.
The Willoughby was the sole delivery this quarter in the submarket. The 61,000 square foot office building is 100% leased.
Downtown is having its best year of occupancy gains since 2008. Q4 absorption in the submarket is expected to be strong yet again.
3Q 2018 | Atlanta Office Downtown Submarket Report