Cushman & Wakefield released second quarter 2017 Atlanta office market statistics, which demonstrated continued growth and record-breaking overall rental rates. Buckhead, Atlanta’s leading office market in terms of rental rates, reached Class A rents of $34.63 per square foot (psf), marking the first time in Atlanta’s history that Class A rates have eclipsed $34 psf.
During the second quarter of 2017, overall average rents eclipsed last quarter’s record of $23.51 per square foot, reaching a new record of $24.10 psf, an increase of $0.59 psf. Additionally, overall net absorption rebounded in the second quarter from last quarter’s negative absorption, with 405,038 square feet of positive net absorption. The Northwest submarket experienced 210,124 square feet of positive net absorption, followed by Midtown with 153,167 square feet absorbed.
To view the entire Atlanta Q2 office report, click here to visit the Market Research page.