Q3 2021 Central Perimeter Office Submarket Report
Despite Big Leases Signed, Vacancy Rate Continues to Rise in Central Perimeter
- Central Perimeter saw a fifth-consecutive quarter of negative absorption, losing 111,131 square feet of space in Q3. This resulted in the vacancy rate increasing 50 basis points (0.5%) to 24.4%.
- The bulk of this negative absorption can be attributed to Global Payments moving out of 141,551 square feet at 10 Glenlake as a part of their relocation to Alpharetta.
- While volume has remained consistent throughout 2021, Central Perimeter has seen a recent increase in large leases. There have been several new leases of 50,000 square feet and greater
signed since the start of Q3, including Atlanticus Holdings at 5 Concourse, GreenSky at Glenridge Highlands Two, Schindler Elevators at 3 Ravinia, and Carvana’s 569,778 square foot
sublease from State Farm at 236 Perimeter Center Parkway.