ACBR Market Brief: Q2 2016 Office Market

The Atlanta Commercial Board of REALTORS® (ACBR), the largest commercial REALTOR® association in the country, released its Q2 2016 Office Brief on office market trend statistics for 30 Atlanta Office Sub Markets.

Q2 2016 Office Market Statistics

LABOR: According to the Bureau of Labor Statistics, the unemployment rate dropped 1.2 percentage points from 5.8% in May 2015 to 4.6% in May 2016. The Atlanta metropolitan statistical area job creation totaled 76,600 in the Atlanta-Sandy Springs- Roswell metropolitan statistical area over the past year.

ABSORPTION: The Atlanta office market recorded 538,830 SF of positive absorption during the second quarter of 2016 and 737,272 sf year-to-date.

VACANCY: Due to an ongoing increase in demand for space, the total vacancy rate has dropped from 18.6% in Q2 2015 to 17.2% at the close of second quarter 2016.  Direct vacancy rates dropped 1.5 percentage points from 17.9% to 16.4% during the same time period.

RENT: Rent growth continued to improve during second quarter 2016 especially in class A product in Buckhead, Midtown and Central Perimeter. Asking rents in all classes rose 7.6% recording $22.84 per square foot (psf) at the close of second quarter 2016 compared to second quarter 2015. Class A rents rose 7.3% over the past year, recording $25.60 psf at the close of second quarter 2016. We expect rents to continue increasing during 2016 with higher escalations in class A product in submarkets with low vacancy and construction activity.

TOP LEASE TRANSACTIONS: Major occupiers of space included Lincoln Financial Group, Fulton County Board of Assessors, Centers for Disease Control, Century Communities, Sage Software and Centene/ Peach State Health Plan.

Press Release : Infographic : Presentation Mode : Industrial Market Brief

The data in this report was compiled by data provided by Xceligent, a leading provider of verified commercial real estate information. For more information on details of this month's report, please contact the Board at 404.250.0051.

Thursday, July 14, 2016

About the Atlanta Commercial Board of REALTORS®

The Atlanta Commercial Board of REALTORS® (ACBR) is the voice of commercial real estate in Metro Atlanta and has been an instrumental factor in the growth of real estate in the state of Georgia for more than a century. As the largest Commercial REALTOR® Association in Georgia, ACBR serves as a central source of information for its members by focusing on real estate education, the promotion of professionalism in the industry and representing members with legislative initiatives to create positive change for the real estate community. Membership in ACBR is the hallmark of quality, professionalism and production.

About Xceligent

Xceligent, Inc. is the fastest growing provider of commercial real estate information in the country. Headquartered in Independence (Kansas City), Missouri, Xceligent is the preferred industry partner for proactively researched commercial real estate information and marketing. Over its 14 year history, Xceligent has developed and refined revolutionary research processes that allow the company to offer a superior value proposition to the brokerage, development, government, EDC, appraisal and lending communities.

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