Atlanta Medical Market: Mid-Year 2024
After several notable deliveries, such as Science Square Labs, Atlanta Medical office has seen vacancies rise 80 basis points since Q4-2023. Net absorption year-to-date (YTD) is above its mid-year average at 148,975 SF. Several institutional investors purchased large medical portfolios through the second quarter, pushing the average sales price to $150 per SF. Rental rates have risen 5.4% in 2024, from $27.48 in Q4-2023 to $28.97 mid-year. We expect the market to remain strong as healthcare demand increases and the Metro area continues to grow.
