No Changes to Atlanta’s Skyline… Yet

skyline

Although there is no denying that Atlanta has officially made its way out of The Great Recession, the city and its investors are still a little weary when it comes to overbuilding. Most involved in the CRE industry suggest that it could be a while before we see any changes to the Atlanta skyline with the addition of new office towers. Despite rebounding considerably well, there are a couple of factors keeping office construction at bay. One of the largest reasons is that Atlanta’s rents are still much lower when compared with other major US markets like New York City, Los Angeles, and San Francisco; as demand for office space continues its upward trend while supply stays the same, Landlords will finally be able to see some rental rate increases. Some are even expecting $30-$40 PSF when it’s all said and done, especially in the more competitive submarkets like Buckhead and Central Perimeter.

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