Atlanta Office Figures Q4 2023

January 10, 2024 10 Minute Read

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‒Reaching 32.1% in the fourth quarter, availability continues to break records as reassessment of space needs by office tenants lingers.
Overall average asking rates increased to $30.79/per sq. ft., up 1.3% year-over-year, highlighting flight-to-quality as an enduring trend. Class A rates continued to climb with clusters of amenity-rich space elevating the rate ceiling.
Leasing activity totaled 1.1 M sq. ft. in Q4, down 25.7% from the prior quarter. Economic uncertainty, specifically as it relates to office space use across the country, continues to factor into below average leasing levels in the market.