Atlanta Office Market: Summer 2023

Atlanta's office market suffered the third worst quarterly absorption amount of a negative 1.7 MSF, after Q4-2020 (-1.9 MSF) & Q1-2021 (-3.1 MSF). Year to date the market is a negative 2 MSF in absorption and on pace for one of its worst years ever. The vacancy rate climbed 100 basis points in a quarter while rental rates continue to rise, as landlords need to get higher rates in the face of stiff concessions. Buildings that are walkable and have better amenities are faring much better in retaining tenants than buildings stuck in a sea of surface parking lots. On a positive note, several large employers such as AT&T, Meta, Blackrock, and Farmers Insurance have called for their employees to be back in the office at least 3 days a week.

See all this and more on our Summer 2023 report, detailing Atlanta's office market.