Q3 2021 Midtown Office Submarket Report
Midtown Leads Market With Historic Quarter Behind Big Moves
- Midtown saw 942,341 sf of positive absorption in Q3, which led the Atlanta market by a considerable margin. This was the submarket’s highest absorption total for a single quarter in at least 20 years.
- This absorption figure was driven largely by two high-profile moveins: Microsoft occupying 523,511 sf at Atlantic Yards and Anthem moving into 263,464 sf at 712 West Peachtree.
- The vacancy rate for Midtown fell 220 basis points (2.2%), finishing the quarter at 24.5%.
- With 7 buildings under construction totaling 1,719,035 sf, around 45% of the office space under construction in Atlanta is located in Midtown.