First-half vacancies negatively impact Downtown for the Year in Q4.
Downtown finished the year with the second largest occupancy loss in Atlanta’s office market. Vacancies by SunTrust, WeWork, and Georgia-Pacific during the first half of the year were too much for the submarket to recover in the year. Although seeing a nice positive bump in the third quarter, Downtown returned to negative absorption in Q4, albeit by a minimal amount. Following the first-half losses, overall vacancy has remained relatively level ending 2021 at 15.4%. With the ongoing pandemic affecting office decisions, the submarket has struggled to gain any traction on the leasing side. This will put pressure on space absorption in 2022.
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.