Q3 2021 Buckhead Office Submarket Report
Big Move Outs Plague Buckhead Once Again, Vacancy Rising
- Buckhead lost 195,548 square feet of absorption in Q3, bringing the year-to-date total to (1,207,808). The submarket’s absorption total was once again affected by a single large move out, with Blue Cross Blue Shield of Georgia vacating 214,223 square feet at 3350 Peachtree in Q3. This, combined with AT&T’s large Q1 move out, accounts for (1,146,474) of the year-to-date total.
- The submarket’s overall vacancy rate rose 90 basis points (0.9%) in Q3, the seventh consecutive quarter the vacancy rate has risen in Buckhead.
- Despite the negative absorption, rental rates rose slightly in Q3, rising 0.3% to $36.99 across all property classes.