Atlanta Q1 2019 Occupier's Guide
Atlanta’s development is showing no signs of slowing down as we close out Q1 2019. There is 3.4 Million SF under construction, and significant deliveries this quarter including Midtown’s Coda. This ultra-sleek, tech centered building is delivered 75% pre-leased with one of the highest rates in the city, floating around $50 per SF. The technology, advertising, media, and information (TAMI) sector was on fire this quarter, highlighted by Google’s commitment to 122,000 SF at 1105 W Peachtree Street. Downtown’s Centennial Tower inked big leases, including 125,000 SF of leasing activity in Centennial Tower alone, showing us that Atlanta is not just the Midtown show that it was at the end of 2018. Rent growth continues to slow after its large spike in the last few years, and we predict a leveling off in 2019. Atlanta could not have asked for a better Q1 2019, with over 3.2 Million SF in leasing activity and over 5 million SF under construction or proposed.