Offices within close proximity to MARTA stations outperform the market, despite declining ridership
Transit-oriented buildings have demonstrated a consistent lead in terms of asking rates
June 04, 2019
- Transit-oriented buildings have demonstrated a consistent lead in terms of asking rates. Since the beginning of 2015, asking rents in buildings with close proximity to MARTA have increased by 30.6 percent
- Occupancy has been fairly similar between the two asset groups, with buildings closer to MARTA having higher occupancy since early 2018.
- Companies tend to place a high importance on proximity to public transportation, giving their employees options for commuting to and from work.
- Despite this, MARTA Ridership has been declining for years. Since 2017, average total ridership declined 5.1 percent.
- As Atlanta’s population continues to grow, businesses and leaders are looking for solutions for parking and public transit to help Atlanta remain attractive to talent
Source: JLL Research, US Dept. of Health and Humans Services