Downtown had a positive finish to the year absorbing just over 90,000 square feet in Q4. This propelled the net annual total to 272,000 square feet which was the third highest in the Atlanta office market.
- The submarket’s overall vacancy rate is at 13.1% which is the lowest it has been since 2008. Despite this, the Class A vacancy rate in Downtown is one of the highest in the Atlanta market.
- Strong leasing activity in the back half of 2018 provides a positive outlook for the submarket in the coming quarters. WeWork’s recent decision to locate into 80,000 square feet Downtown was one of the largest new lease transactions completed in the past few years.
- Following it’s best year of occupancy gains since 2014, Downtown is poised to be one of Atlanta’s stronger office submarkets in 2019. Fundamentals continue to remain solid here.