Q3 2021 North Fulton Office Submarket Report
North Fulton Posts Strong Quarter Thanks To Positive Absorption, Lower Vacancy.
- North Fulton saw 384,761 square feet of positive absorption in Q3, breaking a trend of 5 consecutive negative quarters. This brings the submarket into positive territory year-to-date, gaining
64,647 square feet thus far. - Much of this positive absorption was thanks to Global Payments occupying 228,512 square feet at 5995 Windward Parkway.
- The submarket’s vacancy rate fell 160 basis points (1.6%) in Q3, finishing at 18.6%.
- Rental rates in North Fulton have seen gradual increases over the past four quarters, with the overall rate nearly reaching its pre-pandemic level. Class A rents in the submarket have risen
2.4% over the past year, and 0.3% since Q2 2021.
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