ATLANTA, GA – Cassidy Turley Commercial Real Estate Services reports the Metro Atlanta offi ce market posted positive net absorption of 198,508 square feet in the third quarter, bringing the overall vacancy rate down from a record high 21.5% the previous quarter to 21.3%.
During this time period, average asking rates continued their decline, from $18.76 per square foot to $18.60 per square foot.
While the Class A market has been outperforming the Class B market in recent years, with Class B tenants taking advantage of discounted rates and upgrading to Class A space in a fl ight to quality, this quarter saw both classes with net occupancy gains and decreasing vacancy rates, indicating a recovery that is gradually expanding beyond core assets.
Total leasing activity for the third quarter, while down from this period last year, is up from the previous two quarters.
For a complete copy of the report, along with statistics, please contact
Tony Wilbert, Media, twilbert@wnspr.com
Jonathan Gerrard
Research Analyst
171 17th Street NW
Suite 1400
Atlanta, GA 30363
Tel: 404.682.3412
Fax: 404.888.4962
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