It is with great enthusiasm that we approach what we hope is the light at the end of the COVID-19 tunnel. While it is clear that COVID-19 has reshaped our lives, the specifics of that transformation, particularly on our workplaces are less clear. As of now questions like; do we have full offices? Can we fill the empty office buildings throughout our state? What does the future office layout look like? What is a ‘work week’ going to be? At this point, all these remain unanswered.

There were nearly 1.3 million square feet leased during the first quarter of 2022, the highest amount in six quarters. Robust leasing pushed net absorption to 41,568 square feet, although still positive, the level is down from the same time last year. The overall vacancy rate is down year-over-year, finishing the first quarter at 2.3%, off from 2.7% at the end of 1Q2021.

Atlanta continues to show signs of an economic recovery. Leasing volume continues to expand, demonstrating confidence in the return to office occupancy. In addition, large corporations including Microsoft, Google, FanDuel, Visa, Cisco, Norfolk Southern, Deluxe Corp, Papa John’s, Mailchimp, Carvana, and Airbnb are all in the process of adding thousands of high-paying office jobs in Atlanta.

Industrial leasing volume has surged in Atlanta over the past few quarters. Third-party logistics firms and e-commerce fulfillment providers account for many new deals. The metro area benefits from its role as a regional and national distribution hub, the growing Port of Savannah, and its strong local demographic trends.

Amidst the downturn in office space rentals and a generally rocky outlook for the return to work, life sciences is one sector that’s been going strong over the past few…

Over the last year, commercial real estate (CRE) markets have once again shown signs of the industry’s extraordinary resilience, with many sectors pulling through to deliver strong gains. As the…

Over the last few years, both how we work and how we evaluate space have changed. Many workers are resisting the return to office, and asking for more sustainable, and…

The return to work is a fraught topic for many industries, with some employees pushing back hard on remote working coming to an end. With many workers walking away from…

Seoul Office Market Review (Feb 2022)

At the end of October 2021, the social media giant Facebook rebranded the parent company to Meta (the social network retained its name) after announcing their plans to set up…

Seoul Office Market Review (Jan 2022)

This week’s featured property is a 65,806 square foot industrial distribution facility recently acquired by Faropoint for $8,325,000, with NAI Hallmark representing. Located along Central Parkway, Jacksonville, the space is…