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.
Published: Nov 08 | 2021 Download
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