Atlanta Medical Market: Winter 2023

The Atlanta Medical Office market continues to be a bright spot. Net absorption has been strong, topping 350,660 SF and dropping the vacancy rate to 11.1%. Medical absorption increased by 530,553 SF for the year, the highest total since 2018. New construction for 2023 was 461,018 SF. Vacant office buildings are being retrofitted for medical use, such as 2233 Lake Park Dr., which will be 75% leased for a new VA Clinic. Rental rates have steadily climbed, up 6.5% over the last year. 82% of the medical space is in the suburban markets.

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