What is Driving Office Space Demand? The Tech Industry, Of Course

For over a year, we have talked about the increasing number of tech firms and start-ups taking root here in Atlanta. Among other reasons, companies are attracted to the deep pool of young talent, the low cost of living, and the vast number of corporate headquarters located here. In 2013, tech firms proved this point by leading the demand for Atlanta office space, accounting for 19% of all office demand.

A close second to the Tech sector was the Insurance sector, which accounted for 18% of all office demand. The top 10 tenant industry types are detailed in the chart below. Most leasing professional speculate that demand for office space won’t be so one-sided in 2014; they are seeing increases in the number of large-scale users and the hotel, healthcare, and tech services industries seem the be the fastest growing in terms of employment at this point in time.

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