Marking the fourth consecutive quarter of absorption gains over 100,000 square feet, Midtown's office market absorbed more than 176,000 square feet in Q3 of 2019.
- Midtown returned to the top spot in the Atlanta market this quarter absorbing over 176,000 square feet in Q3. This is the fourth consecutive quarter absorption gains in the submarket totaled over 100,000 square feet.
- Top occupancies this quarter include a 51,000 square-foot move-in by Keysight Technologies at Coda, and also expansions over 40,000 square feet by Invesco and Accenture.
- With limited inventory delivered in Q3, Midtown’s overall vacancy rate decreased for the first time this year.
- Overall quoted rents in the submarket increased for a tenth consecutive quarter. The Class A average is quickly approaching the $40/sf high watermark.
- Midtown is anticipated to fi nish the year strong and ultimately lead the Atlanta market in total net absorption for 2019. Although Hines’ T3 project is scheduled to deliver 100% vacant in Q4, the submarket will still see positive occupancy gains in the coming quarter.