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Submarket Overview

United States | Atlanta, GA

Report | Atlanta Downtown View From Above - Q1 2011

Summary

Downtown gave back 174,000 square feet in first quarter 2011, with most of the occupancy losses attributed to a SunTrust relocation and contraction from 250 Piedmont to Peachtree Center. The Class B vacancy rate rose dramatically, offsetting Class A improvements and bringing overall vacancies up to 22.8 percent. Rental rates have been holding steady and adjusted downward by just a nickel with direct average quarterly pricing at $18.61 per square foot. Some aggressive concessions that were being seen during the downturn are typically no longer being offered.
The last 18 months have seen Downtown occupiers playing musical chairs to take advantage of tenant-favorable leasing conditions, but mid-tier tenants are starting to grow by 1,000 to 2,000 square feet and law firms are beginning to hire again. 

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