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  • Atlanta Office Vacancy at 15 Year Low

Atlanta Office Vacancy at 15 Year Low

April 21, 2016
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Atlanta – April 21, 2016 – CBRE’s Atlanta Research department reports that Atlanta’s office market has tightened further, as a result of no new significant deliveries in 2015, and is at a 17% vacancy rate, which is the lowest level in 15 years. The Atlanta market has now experienced 13 consecutive quarters of declining vacancy, validating owners’ rising rental rates.

The first quarter of 2016 marked the ninth consecutive quarter of Atlanta office rent growth. Record high rents and a lack of available Class A space has led developers to answer the demand. Currently, there are three developments under construction, bringing more than 1 million sq. ft. to the market. However, three more speculative developments are anticipated to begin construction in 2016.

“Over the past months, many Atlanta office assets have been placed on the market to trade or have traded,” said Dan Wagner, CBRE Southeast Research Manager. “While this would typically indicate the market is nearing the top of a cycle, Atlanta fundamentals remain resilient.”

 

About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2015 revenue).  The Company has more than 52,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 370 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.

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Bridgette  Bonner, Senior Communication Specialist
Bridgette Deese
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