Q2 2021 Buckhead Office Submarket Report
Buckhead Rebounds After Rough Q1, Sees Rates and Vacancy Stabilize
- Buckhead rebounded in Q2, absorbing 11,148 sf, after a historically bad Q1 in which the submarket lost just over 1 million square feet of absorption. Much of that figure was thanks to AT&T-owned Cricket Wireless vacating 932,251 sf at 575 Morosgo Dr in Lindbergh as a part of AT&T’s corporate consolidation and move.
- The overall vacancy rate was unchanged in Q2, a welcome sight after a 4.8% rise in Q1. This should eventually decline as leasing activity has picked up: more deals were signed in Q2 than any quarter since 2019.
- Rental rates remained steady once again, with Class A rents in the submarket seeing only a -0.2% change over the past year.
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