Atlanta Office Market: Winter 2023

While net absorption of space directly from Landlords was positive (290 KSF), sublease space net absorption was negative (-544 KSF), causing the overall net absorption to be negative. It was the best quarter of net absorption since Q4-2022. Class A rental rates fell 3.5% from Q3, while Class B rates rose 1%. There have been numerous articles about a flight to quality by tenants, but when looking at the vacancy rate by class, Class B (17.4%) and C (16.1%) are much lower compared with Class A (27.6%) in Atlanta. Suburban vacancy rates are outperforming the CBD: 22.8% vs. 25.8%.

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