Class B vacancies sink Northeast Atlanta office absorption in first quarter of 2021.
Coming off a decent quarter of office occupancy gains in Q4, Northeast Atlanta returned to negative results in the first quarter thanks to a number of Class B office vacancies. The (223,000) square-foot occupancy loss was the fourth highest in the Atlanta market.
Despite this, Class A absorption actually was positive in the submarket; making Northeast Atlanta the only major office submarket to see a net occupancy gain in Class A properties. Going forward, activity is anticipated to remain mostly flat throughout the year. The submarket did see solid leasing in Q1, but more vacancies are likely in the coming quarters.
What you'll learn in this quarter's Northeast Atlanta Office Market Report:
- Current vacancy rates and availability
- Q1 2021 absorption and office leasing activity
- Current average office rental rates
- Office building construction activity
- Sales activity and current office building cap rates
Download the full Colliers Atlanta Northeast Atlanta Office Market Report to learn more about the fundamentals shaping the Norcross, Duluth and Lawrenceville area office submarket of Atlanta, GA.