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Atlanta Real Estate Market Trends | Buckhead Office Q2 2020

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Buckhead_2019

For a second consecutive quarter, Atlanta's Buckhead office submarket witnessed negative net absorption. Year-to-date the submarket has experienced just over 200,000 square feet of occupancy loss.

Key Takeaways

  • This quarter's negative activity was a result of USB Financial vacating almost 61,000 square feet at the Pinnacle and Merchant e-Solutions relocating to North Fulton.
  • Buckhead's real estate market has been on a string of negative quarters over the past year with only Q4 2019 being positive. The submarket's overall vacancy rate has trended upwards, but only slightly. It is up 40 basis points (0.4%) year-over-year.
  • Rental rates are up across the board in the submarket; however, it appears they have started to show signs of plateauing for the time being, likely a result of the pandemic's effects on office leasing.
  • Buckhead Atlanta's real estate forecast for 2020 is anticipated to show more positive gains with Ameris Bank's expansion in Q3. The submarket is still in for a rough end of the year though.

 


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Atlanta Real Estate Market Trends | Buckhead Office Q2 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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