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Atlanta Real Estate Market Trends | Downtown Atlanta Office Q2 2020

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Downtown_2019

Occupancy levels held steady in Atlanta's Downtown office real estate submarket for 2020's second quarter as net absorption was close to the zero mark at the end of the three months.

Key Takeaways

  • Year-to-date absorption remains in the red thanks to Anthem's previously mentioned relocation to Midtown. As of mid-year, Downtown has the second highest occupancy loss of the Atlanta office real estate market so far this year.
  • Real estate trends in leasing activity has been steady in the submarket despite the pandemic slowing overall deals being transacted. Most of the leases completed, however, are not large-scale.
  • Office rental rates continue to rise in Atlanta's Downtown. The pact at which they are increasing though is moderating and is below the market average.
  • The forecast for the remaining half of 2020 is somewhat of a toss-up as to how activity is going to turn out Downtown. There are a couple of sizable occupancies set for Q3 and Q4; yet at the same time, subleases have begun to creep up in the submarket, meaning these tenants may possibly vacate by year's end as well.

2Q20_Downtown

Atlanta Real Estate Market Trends | Downtown Atlanta 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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