Atlanta Market Still Improving

While vacancy rates have remained high, Atlanta is continuing to show signs of progress. Building owners in town are seeing better leasing volumes and receiving more interest from corporate, big name tenants. Since this time last year, the metro Atlanta area has gained 57,000 jobs and unemployment claims have dropped nearly 26%. The Central Perimeter submarket, thanks in large part to State Farm, is leading the overall market with a low vacancy rate of 14.6% among Class A assets. Leasing activity has also remained strong in the Midtown and Cumberland/Galleria submarkets. The third quarter vacancy rates were reported as follows:

Submarket

Vacancy Rate

Buckhead 18.5%
Downtown 23.5%
Midtown 17.5%
Central Perimeter 19.5%
North Fulton 18.4%
Northlake 19.1%
Northeast 27%
Northwest 20%
South Atlanta 19.9%
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