Tenant's Market

The Atlanta Office market has seen an increase in vacancy, mainly to contracting of companies and higher unemployment. The vacancy rates are topping 20%, levels that have not been seen since the bust of the dot com era. Metro Atlanta’s unemployment rate has also increased to 10.8%.

Total net absorption was negative (163,000) square feet in the first quarter as market conditions continued to weaken as continuing a fourth consecutive quarter of negative net absorption. Average asking rent fell slightly to $19.

Overall leasing activity appears to be stabilizing across the market. However, the new building deliveries in Buckhead with Phipps Tower and 3630 Peachtree has sent that submarket’s vacancy to 29%. Buckhead’s class A office market will fair better for the larger tenants looking at the newer class A buildings as they provide more attractive options than the older class A buildings.

We can continue to see a soft market with aggressive rental concessions from landlords to lure new tenants as well as retain current tenants.

Market Expertise

The Eidson Group, LLC has provided representation to tenants with their office leases and real estate strategies in every major market in Metro Atlanta:

  • Airport Office Space
  • Atlanta Office Space
  • Alpharetta Office Space
  • Buckhead Office Space
  • Central Perimeter Office Space
  • Dunwoody Office Space
  • East Cobb Office Space
  • Galleria Office Space
  • Glenridge Office Space
  • Johns Creek Office Space
  • Kennesaw Office Space
  • Midtown Atlanta Office Space
  • Norcross Office Space
  • Peachtree Corners Office Space
  • Sandy Springs Office Space
  • Sugarloaf Office Space
  • Vinings Office Space

The Eidson Group, LLC works diligently with all of their clients, providing solutions for national, regional, and local tenants. Our expertise ranges from large multi-floor users, to executive office space and virtual office solutions in Atlanta.

There are several websites that provide information with building listings for Atlanta office space to lease. Market information can be found online as well. However, there is no substitute for hiring a good broker. It is necessary to engage a tenant representative for advisory services, and someone who understands the dynamics of the market and as well as the building owners in order to capitalize on negotiation strategies.