An expanding economy and advancing workplace efficiencies have given rise to a form of tightening within Atlanta’s office market: parking capacity. A challenge many businesses face today is balancing the need to add employees, while being strategic about occupancy and operational costs. While leasing more space or realigning existing space helps accommodate new employee growth, often underestimated is the need to accommodate a greater number of workers and how they will park their automobiles. How tenants and landlords deal with increasing parking requirements is rapidly becoming a key point of contention.
• Atlanta’s CBD submarkets are facing a severe lack of parking availability as new and renewing tenants reengineer office space densities.
• Economic expansion has spurred the need for additional employees but not necessarily a proportional increase for additional office space.
• The trend of redensification is resulting in more workers per floor, and as a consequence, additional parked cars per building.
• MARTA’s rail system has not expanded in over 20 years and commuters continue to prefer the automobile for commuting.
• Employers assuming the expense of employee parking foster the continued practice of single-occupant auto commuters.