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Northeast Atlanta sees back-to-back quarters of positive absorption in the first quarter of 2020

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NortheastATL_20192

For the first time in three years, Northeast Atlanta had back-to-back quarters of positive absorption. The submarket absorbed just over 63,000 square feet in the first quarter.

Key Takeaways

  • Almost all of the occupancy gains in Q1 occurred in Class B & C properties. The area of the submarket seeing the most Class A absorption is Peachtree Corners which has begun to see some resurgence over the past few quarters.
  • The drop in vacancy this quarter brings the overall submarket's rate to its lowest level in ten years.
  • Right as the Northeast Atlanta submarket begins seeing positive momentum, the COVID-19 pandemic hits. It is too early to see how this might negatively impact the submarket, however, given that Northeast Atlanta is a suburban office node in the midst of revitalization could be a benefit. Also, the tenant makeup of the submarket; being R&D, technology and other types of companies somewhat unaffected by the pandemic, could favor the area as well.

1Q20_NEast

Northeast Atlanta sees back-to-back quarters of positive absorption in the first quarter of 2020

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Related Experts

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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