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North Fulton bounces back in the first quarter of 2020

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NFulton_2019

North Fulton bounced back as expected in the first quarter of the year with just over 163,000 square feet of positive absorption.

Key Takeaways

  • Q1's occupancy gains can be attributed to a multitude of tenants moving into between 10,0000-30,000 square feet across the submarket. Axis Capital was the largest occupancy this quarter; however, the insurance company downsized slightly from its previous North Fulton location.
  • Despite the positive absorption, the submarket saw its vacancy rate increase yet again. This comes as no surprise though given the deliveries of 10000 Avalon and 1 Edison which are expected to see occupancies take place in the coming quarters.
  • Thanks to new deliveries, the average rent in North Fulton is up 1.9% quarter-over-quarter; Class A rents are up 1.2%.
  • Fundamentals show North Fulton will continue to see steady growth in 2020; however, COVID-19's impact on the submarket is to be determined.

1Q20_NFulton

North Fulton bounces back in the first quarter of 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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