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Submarket Overview

United States | Atlanta, GA

Report | Atlanta Northwest View From Above - Q1 2011

Summary

Despite 87,000 square feet of gains made during first quarter, the rest of 2011 could bring occupancy losses as several big block tenants are considering relocation to other submarkets. Vacancies are still elevated, with 21.2 percent of the inventory currently empty. At $18.93 per square foot, asking prices remain depressed in a submarket that typically commands average rates closer to $20.00 per square foot. Construction here will need to remain on pause when the next development cycle hits for fundamentals to noticeably shift as tenant movement to the urban core is on the rise, which could negatively impact demand in the Northwest. 

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