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Central Perimeter leads the Atlanta office market in absorption in Q1 2020

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Coming off of a rough year of negative absorption, Central Perimeter led the Atlanta office market in Q1 with just under 1 million square feet of occupancy gains.

Key Takeaways

  • Coming off a rough year of negative absorption, Central Perimeter led the Atlanta office market in Q1 with just under 1 million square feet of occupancy gains.
  • State Farm's move into its newly delivered second phase office building was the largest contributor to the submarket's positive absorption this quarter. The insurance company occupied 670,000 square feet. Inspire Brands' final phase occupancy at Three Glenlake was also a large contributor.
  • After a year of vacancy increases, Class A product had a 60 basis point (0.6%) decline in Q1; its largest quarterly drop in six years.
  • Central Perimeter was expected to see a better year in 2020 thanks to some large, anticipated occupancies. Following the strong Q1, next quarter should show strong positive gains as well. The coronavirus pandemic, however, could impact the submarket later this year given the halt in normal business activity.


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Central Perimeter leads the Atlanta office market in absorption in Q1 2020

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Drew Levine

Senior Vice President, Principal

Atlanta

I am a Senior Vice President in the Occupier Services Group, a Colliers group that exclusively represents tenants. I have successfully advised startups, high-growth, and established companies since 2011. My team delivers customized services on local, national, and global levels that allow companies to make well-informed, profit driven real estate decisions. I have been involved in a wide range of transactions, from small acquisitions for startup companies to campus projects for Fortune 500 companies. Our work has included relocation and expansion projects, consolidations and dispositions, headquarter planning, lease terminations and complete portfolio planning strategies for hundreds of leading technology, professional services, and manufacturing companies. We strive to deliver real estate business solutions that: add measurable value, reduce costs, decrease business operating risks, improve workplace performance, expand flexibility, and increase overall profitability.

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