Another large quarterly occupancy loss for downtown in Q2.
It was another rough quarter for Downtown as the submarket led the Atlanta office market with the highest net occupancy loss. Just over 277,000 square-feet of space was given back in Q2 with all of the amount basically coming from SunTrust’s move out of Peachtree Center. The vacancy was a part of the bank’s merger with BB&T, and its subsequent consolidation out of space in Atlanta to Charlotte. Downtown’s overall vacancy rate is now up to its highest level in five years as a result. The good news is leasing activity in the central business district has been steady and picking up. Downtown is likely to see more positive absorption levels next quarter.
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.