Atlanta Office Market Report
Absorption Gains Stoked by Big-Name Leases;
Optimism Generates Speculative Development
High-profile corporate move-ins underscore leasing activity. Spurred by a number of expansions, the metro's 12-month net absorption total at the end of March exceeded 5.2 million square feet, the highest figure observed in this metric since at least 2007. Robust leasing should continue through the end of 2022, with multiple regional offices from Visa, Hapag-Lloyd and Carvana taking over 530,000 square feet off the market alone. Additionally, built-to-suit campuses leased by Mailchimp and Google highlight the return of activity to Atlanta's Midtown. The metro's status as a burgeoning information systems hub has also incentivized multiple firms, including Walmart and Nike, to establish cybersecurity operations here as early as 2023.