Share: Share on Facebook Share on Twitter Share on LinkedIn I recommend visiting cushmanwakefield.com to read:%0A%0A {0} %0A%0A {1}

Atlanta Office Five Fast Facts Q2 2023

Christa DiLalo • 7/12/2023

Read our Five Fast Facts for more insight into the key trends that impacted the Atlanta office market during the second quarter.

  1. Unemployment Below U.S. Average: Despite inflationary pressures, employment trends remained strong locally as Atlanta’s unemployment rate was 3.0% in Q2, well below the national average of 3.6%. 

  2. Suburban Demand Remained Active: 1.2 MSF of new leasing occurred throughout the metro in Q2, driving the mid-year total to 2.7 MSF. While Midtown led all submarkets in transactions, demand was primarily concentrated in the suburbs, accounting for 66% of all new leasing.  

  3. Renewal Transactions Accelerated: Renewal activity increased 32.9% QoQ to 956,900 SF as tenants re-evaluated their footprints and recommitted to their space. 

  4. Suburban Vacancy Held Steady: Suburban vacancy remained stable in Q2 at 20.6%, a moderate 20-bp increase QoQ. Strong tenant requirements demand persisted for second-generation space and newly renovated suburban office buildings, particularly in the desirable Northwest submarket.  

  5. Asking Rent Average Reached A New High: Class A product continued to command a premium across Atlanta as the direct asking rate rose 4.7% YoY, bolstering the metro average among all classes to a new high of $31.73 psf. 

5-Fast-Facts---Q2-2023_Office_ATL-2

Insights in your Inbox
Subscribe to the latest local market research, insights & analysis from Cushman & Wakefield across the U.S.
Subscribe

Related Insights

ATL Beltline Boom
Article • Economy

Atlanta BeltLine Boom

Get the latest insights into office, multifamily, and retail growth in Metro Atlanta.
Maija Sunnarborg • 3/24/2023
Atlanta-Employment-Report-Generic-Card
Article • Economy

​​Atlanta Employment Update​

Metro Atlanta’s labor market continued to grow through the end of 2022. Job numbers recovered rapidly from the effects of the global pandemic, and despite recent national economic headwinds, metro employment figures climbed steadily. 
Christa DiLalo • 2/9/2023
10-Critical-Question-for-2023-web-card
Research • Economy

​​10 Critical Questions for 2023​

10 critical questions we’re asking as we look out at the horizon at 2023. 
Jennifer Edwards • 1/4/2023

Interested in learning more?

Get in touch and we can assist with any additional information you need.

With your permission we and our partners would like to use cookies in order to access and record information and process personal data, such as unique identifiers and standard information sent by a device to ensure our website performs as expected, to develop and improve our products, and for advertising and insight purposes.

Alternatively click on More Options and select your preferences before providing or refusing consent. Some processing of your personal data may not require your consent, but you have a right to object to such processing.

You can change your preferences at any time by returning to this site or clicking on  Cookies

More Options
Agree and Close
These cookies ensure that our website performs as expected,for example website traffic load is balanced across our servers to prevent our website from crashing during particularly high usage.
These cookies allow our website to remember choices you make (such as your user name, language or the region you are in) and provide enhanced features. These cookies do not gather any information about you that could be used for advertising or remember where you have been on the internet.
These cookies allow us to work with our marketing partners to understand which ads or links you have clicked on before arriving on our website or to help us make our advertising more relevant to you.
Agree All
Reject All
SAVE SETTINGS