Q2 2021 Downtown Office Submarket Report

Long-Term Outlook Solid for Downtown Despite Recent Absorption Numbers

  • Downtown Atlanta lost 289,435 square feet of absorption in Q2, the third consecutive quarter of similar space lost.
  • The majority of this negative absorption was due to SunTrust Bank vacating 290,904 square feet at Marquis One and Two as a part of their corporate relocation to Charlotte.
  • The vacancy rate in the submarket rose 140 basis points (1.4%) to 19.5% across all property classes.
  • Rental rates across all property classes rose 4.2% to $29.41. Class A rents saw similar growth rising 3.9%, signaling long-term confidence in the submarket’s office product.
Published: Aug 09 | 2021 Download
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