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Atlanta Real Estate Market Trends | Northeast Atlanta Office Q1 2021

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NortheastATL_20192

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.


1Q21_NEAtlanta

Atlanta Real Estate Market Trends | Northeast Atlanta Office Q1 2021

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Scott Amoson

Director - Research

Atlanta

Scott is the Director of Research for Colliers International in Atlanta, Georgia.  In his role, Scott supports all of the company's brokers in the Atlanta office.  He also manages the Research Associate in the company, and mentors an intern annually during the summer.

Scott began his real estate career in 2000 as a research assistant with Richard Bowers & Co., a local brokerage firm.  He joined Colliers International in Atlanta in 2003.  Scott specializes in aiding the company's clients with geographical, informational and analytical research.  With his extensive knowledge, he provides customized research data including:  market trends, lease and sales comparables, plats/ownership information, demographics, prospect information and economic information.  In addition to supporting the company's brokers and staff, his other responsibilities include compiling and writing quarterly market and submarket newsletters, maintaining the company's internal database of over 10,000 sales and lease transactions, and tracking news/trends related to Atlanta's commercial real estate market.  He is frequently called upon by local news sources for his knowledge and expertise of real estate matters in Atlanta.

As a member of the Colliers International Research Council, he advises on quarterly conference calls and provides valuable input on matters directing the research platform for Colliers International.  Scott was recently selected as the Research Ambassador for the Southeast Region as a part of Colliers International's Centers of Excellence platform.

Scott is a native of Atlanta, and enjoys spending time with his wife Lupe and daughter Sienna.  He is an avid golfer and loves vacationing with family.

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