Midtown absorbs highest quarterly amount of space ever.
At just under 1.7-million square feet, Midtown accounted for 80% of market absorption in the third quarter. The submarket saw large occupancies power Atlanta’s office scene with Norfolk Southern (750K), Microsoft (524K), and Anthem (263K) each occupying new buildings. Vacancy is back below 20% because of these gains. The submarket also had the highest amount of space delivered in Q3 with Norfolk Southern’s headquarters and 1105 West Peachtree coming online. The average asking rent for office space increased following last quarter’s slight dip. Third quarter’s activity will result in a positive year for the submarket.
What you'll learn in this quarter's Midtown Atlanta Office Market Report:
- Vacancy and availability
- Absorption and leasing activity
- Rental rates
- Construction activity
- Sales activity and cap rates
- Midtown Atlanta office predictions and forecasts
Download the full Colliers Atlanta Midtown Office Market Report to learn more about the fundamentals shaping the Midtown office submarket of Atlanta, GA.