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North Fulton leads the Atlanta market in office absorption in 2019

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NFulton_2019

North Fulton led the Atlanta market in office absorption this year. Just under a half-million square feet was absorbed in the submarket thanks to large occupancies by Jackson Healthcare, McKesson and Delta Dental.

Key Takeaways

  • Activity picked up in Q4, but the larger transactions were renewals, and in some cases contactions. Clorox's occupancy at 1150 Sanctuary Parkway was the largest move-in this quarter; however the company downsized within the submarket.
  • At 12.4%, North Fulton has the lowest office vacancy rate of Atlanta's major submarkets. This will likely increase in the coming quarters though as new office buildings deliver.
  • The submarket's overall rental rate average decreased by almost 2% from last quarter, but this can be attributed to a few large blocks of second generation space coming available in Q4.
  • North Fulton is expected to see another solid year of activity in 2020.

4Q19_NFulton

North Fulton leads the Atlanta market in office absorption in 2019

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