Atlanta Office Market: Q1 2024
Atlanta's office market continues to shed space. With CNN leaving CNN Center, net absorption dropped 933,516 SF, Class A added 109,617 SF, while Class B & C combined lost -1.04 MSF. The vacancy rate tops 25.1%, with the CBD at 29% and the suburban office at 22.8%. Under construction continues to drop. It is now below 1.42 MSF. Overall rental rates are $31.87, while suburban rental rates are almost $10 less than in the CBD, $ 27.60 vs. $37.45. Concessions in free rent and TI packages are increasing as landlords seek to keep occupancy in their buildings.
