Atlanta Office Figures Q3 2023
October 11, 2023 10 Minute Read
‒Availability continues to rise reaching a record 30.7% via downsizing by companies and the addition of more sublease space onto the market.
‒Six office buildings delivered this quarter, adding 604K sq. ft. to Atlanta's office inventory. With 75% of the delivered space available, the new supply contributed to the market's record high availability this quarter.
‒Leasing activity totaled 1.5 M sq. ft. in Q3, down 34% from the historical pre-pandemic average. Economic uncertainty, specifically as it relates to office space use across the country, continues to factor into below average leasing levels in the market.