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Atlanta Real Estate Market Trends | Northeast Atlanta Office Q3 2020

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NortheastATL_20192

Like most of Atlanta's other office submarkets, Northeast Atlanta experienced negative absorption in the third quarter of 2020. This is the second consecutive period of occupancy losses here.

The Northeast Atlanta office submarket was mostly affected by smaller move-outs in the third quarter of 2020 rather than larger vacancies, mostly occurring in the Duluth/Suwanee/Buford office subset.

The negative activity does not help the submarket's overall vacancy rate. At 16%, Northeast Atlanta has the second-highest vacancy rate of Atlanta's major submarkets; and the highest Class A rate.

Although absorption continues to trend negatively, Northeast Atlanta experienced substantial leasing activity in the third quarter. The amount of office space leased in Q3 was the highest for this submarket in 2020.

Looking ahead at the fourth quarter, Northeast Atlanta is anticipated to see positive absorption given the number of occupancies pushed off to the final quarter of the year.

Key Takeaways

  • Northeast Atlanta experienced negative absorption in Q3 2020
  • Small vacancies in the Duluth/Suwanee/Buford subset contributed to the negative quarter
  • Northeast Atlanta's 16% overall vacancy rate is the second-highest of Atlanta's major submarkets
  • The submarket's Q3 leasing activity was the highest all year
  • Fourth-quarter projections anticipate positive absorption for the Northeast Atlanta office submarket

3Q20_NEast

Atlanta Real Estate Market Trends | Northeast Atlanta Office Q3 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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