Q3 2021 West Midtown Office Submarket Report

West Midtown is in the midst of a growth period, with just over 1 million square feet under construction compared to 3.1 million square feet of existing office inventory. With 2 buildings totaling 667,000 square feet already delivered thus far in 2021, the direct vacancy rate for the submarket is unnaturally high at 46% across Class A properties properties due to the small inventory being easily effected by vacant deliveries. Despite these large blocks of vacant space, the market is otherwise healthy, with 221,704 square feet of positive absorption yearto- date, and a $40.92 average rental rate, rivaling that of any Atlanta submarket.

Published: Nov 17 | 2021 Download
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