Downtown Atlanta office occupancy losses continue to push vacancy higher.
Downtown begins the year losing just over 210,000 square feet of occupied space. This represents the sixth straight quarter of negative absorption for the submarket, and the second consecutive quarter with occupancy losses totaling over 200,000 square feet.
Vacancies by WeWork, Georgia-Pacific and the Georgia Department of Labor were the main contributors to Q1's negative activity. Most notably though, the submarket experienced no significant move-ins during the quarter. Looking ahead, Downtown will see some larger occupancies take place, however one larger move-out is anticipated which will keep the submarket in the red for 2021.
What you'll learn in this quarter's Downtown Atlanta Office Market Report:
- Vacancy and availability
- Absorption and leasing activity
- Rental rates
- Construction activity
- Sales activity and cap rates
- Downtown Atlanta office predictions and forecasts
Download the full Colliers Atlanta Downtown Office Market Report to learn more about the fundamentals shaping the Downtown office submarket of Atlanta, GA.