Atlanta’s dropping unemployment rate. Atlanta’s unemployment rate has dropped nearly 8%, or 100 basis points, since this time last year. Job growth leads to increased demand for office space, and most expect this employment trend to continue.
Delivered developments are performing well. Both office and retail developments that have been constructed since the economic upturn have been extremely successful in regards to leasing activity and achieving desired rents. The Ponce City Market and Buckhead Atlanta projects filled up very quickly, landing some major tenants like Spanx, Cardlytics, and Athenahealth. High rise multi-family towers that have delivered in Buckhead and Midtown have had little trouble in preleasing space as well. Development in the last decade has been relatively modest, which could be playing a major role is the success of the developments that are pushed through to completion.
Atlanta has amazing resources. World’s largest and busiest airport? Check. Deep and educated workforce? Check. Low cost of living and high quality of life? Check. There’s a reason why Atlanta is still referred to as “the Capital of the South” – we’ve got what businesses need to thrive.
All the big players are here. In the years following the Great Recession, Atlanta has been chosen by several major corporations as the location for their headquarters. State Farm has taken more than 1million SF of office space from the Central Perimeter submarket alone, and PulteGroup made the decision to relocate their HQ from Detroit to Buckhead, to name a few.Share