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A Vibrant Office Space
- The Downtown submarket is the traditional business center of Metropolitan Atlanta and remains the location of choice for many of the financial organizations, large law firms, and international business entities.
- Downtown is one of the region’s largest office submarket, continuously growing and expanding to keep pace with demand.
- Nearly two-thirds of the Downtown space is Class A, characterized by high-rise towers such as One Ninety One Peachtree, SunTrust Plaza and Peachtree Center. Despite, increasing vacancy in this submarket, there has been significant development in Downtown for the past 3 years.
- Market conditions have resulted in extremely favorable tenant and owner-occupied office market. Concessions can be significant in terms of free rent, above-standard improvements, lease assumptions, and cash incentives.
| Downtown Office Market 1st Quarter 2007 (Class A, B, and C totals from Dorey’s Atlanta Market Report) |
| Total Inventory (SF) |
16,852,263 |
| Vacancy Rate |
25.2% |
| Sublease Space (SF) |
500,085 |
| SF Absorbed |
17,030 |
| SF Under Construction |
474,658 |
| Weighted Average Rent (SF/YR) |
$20.61 |
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Office Costs Are Lower In Atlanta
Atlanta’s Downtown is rare in that its real estate prices are lower than those found in most neighboring submarkets. Total office costs are highly competitive, nationally and globally.
| Weighted Average Asking Lease Rate 1st Quarter 2007 ($SF/YR for class A, B, and C)) |
| Downtown |
$20.61 |
| Midtown |
$24.68 |
| Buckhead |
$25.76 |
| Central Perimeter |
$21.00 |
| Decatur |
$21.14 |
| Metro Atlanta Avg. |
$20.38 |
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