Atlanta Office Market Report

Presence of skilled labor a positive for office tenants. Despite the dual challenges of a slowing economy and remote work adoption, Atlanta’s office sector benefits from a robust local talent pipeline. Companies looking to hire skilled professionals graduating from prominent institutions, such as Georgia Tech, have recently sought offices in nearby Midtown. Firms are also targeting floorplans near Emory University, which is surrounded by a growing life science sector that includes the CDC headquarters. Furthermore, Moderna established a regional headquarters in Atlanta last year to capitalize on the metro’s robust talent pool. The organization’s entrance has since fostered demand for office space among companies that provide the biotech firm with supplementary services. Outside the core, demand for available office space has been improving, with vacancy across suburban locales dropping by more than 100 basis points last year. Floorplans in these areas may continue to garner interest from prospective tenants, as firms attempt to entice staff back to offices by opening satellite spaces. Shortening commute times are particularly appealing in Atlanta, as it ranked as the eighth-worst U.S. city for travel time in the 2022 Traffic Index.