Q3 2021 Downtown Office Submarket Report
Downtown Posts Best Quarter In 2 Years, Leasing Activity Still Sluggish
- Downtown Atlanta absorbed 81,487 square feet of space in Q3, the submarket’s first positive absorption quarter in 2 years. Year-to-date, Downtown has still lost over 540,000 square feet
thanks to several big move-outs such as Truist at Marquis One and Two, and WeWork at 101 Marietta St.
- The biggest move-in of the quarter came with the John Marshall Law Center occupying 46,478 square feet at Marquis One.
- The vacancy rate in the submarket fell 40 basis points (0.4%) to 19.1% across all property classes.
- Rental rates across all property classes saw little change from Q2 to Q3. Over the past year however, rates have risen 2.4% across all property classes, and 1.9% across Class A properties.