OFFICE MARKET
THE SELECTION YOU WANT, THE PRICE YOU NEED.
Whether you are on the hunt for Class A or Class B office space, the Downtown office market offers the best values in the
region. And you’ll enjoy a wide selection: Downtown Atlanta is home to the largest inventory of office space of
all the urban markets with a total of 16,303,758 square feet.
Metro Atlanta Comparison of Class A Office Space
$30
$25
$20
90%
$27.41
$26.92
$22.06
$19.62
$15
80%
$10
75%
$5
85.7%
85%
81.2%
82.0%
Midtown
Metro
76%
70%
$0
Downtown Buckhead
Midtown
Downtown Buckhead
Metro
Class A Rental Rates
Class A Occupancy Rate
Metro Atlanta Comparison of Class B Office Space
$19
$18.30
$18
$16.78
$17
$16
78%
$18.11
76%
74%
$15.33
76.6%
74.0%
73.8%
71.7%
72%
$15
70%
$14
$13
Downtown Buckhead
Midtown
Class B Rental Rates
Metro
68%
Downtown Buckhead
Midtown
Metro
Class B Occupancy Rate
Source: Jones Lang LaSalle, Office Statistics Year-End 2012
Central Atlanta Progress | atlantadowntown.com
April 2013 - V.2
OFFICE MARKET
Square Feet
Projected Office Absorption, 2011 - 2030
7,000,000
6,000,000
5,000,000
4,000,000
3,000,000
2,000,000
1,000,000
0
Downtown Atlanta is projected to experience 5.1
million square feet of absorption and
add approximately 4.4 million square feet of new office space by 2030.
Source: RCLCO, Downtown Development Forecast, June 2011
Pipeline & Projected Demand
Demand is being driven by -
Square Feet
5,000,000
4,000,000
3,000,000
Current Pipeline
Demand 2021-2030
2,000,000
Demand 2011-2020
The Atlanta Streetcar is projected to increase
1,000,000
0
- Excellent access to transportation network
- Proximity to restaurants & amenities
- Home to top research institutions
- Young, talented workforce
- Established central location
Downtown’s capture of office
demand over other submarkets in the
Office SF
Source: RCLCO, Downtown Development Forecast, June 2011
region.
“Cooper Carry moved its Atlanta offices to 191 Peachtree after 26 years in the
same Buckhead building. The change in enviornment has brought vigor and renewed enthusiasm to our employees who enjoy the many lunchtime restaurants
and shopping opportunities just steps away. Before the move, we had over 100
employees who drove alone evey day to and from the office. Today, of our 100
employees, fewer than 30 drive to work. All others take transit, walk or bicycle,
and they love the change to a lifestyle that supports greater environmental
sustainability.”
- Kevin R. Cantley, AIA
President and CEO, Cooper Carry
Central Atlanta Progress | atlantadowntown.com
April 2013 - V.2
OFFICE MARKET
A move
Downtown is a move toward a more sustainable Atlanta.
The Atlanta Better Buildings Challenge is a collaborative initiative led
by Central Atlanta Progress (CAP) and the City of Atlanta as part of
the City’s Power to Change effort - a plan aimed at making Atlanta
more sustainable by improving “green” programs and policies such as
water and energy conservation, reducing solid waste and carbon emissions, and improving recycling rates.
17% of Downtown’s office square footage is Green-Rated.
49 million square feet of Downtown’s building inventory has taken the challenge.
15 million square feet of Downtown office space has taken the challenge.
Today,
Better Buildings Challenge, City Comparison
50
40
Square Feet
(in millions)
The Better Buildings Challenge
is a nation-wide effort by the
Department of Energy to enhance building efficiency while
creating jobs and building a
strong economy. As part of the
initiative, Atlanta will compete
nationally with other cities to
achieve the title of most sustainable city.
30
20
10
0
Total SF Committed
Downtown buildings are committed to the challenge and to a
more sustainable future for their tenants and workers.
55 Allen Plaza
330 Marietta Street
Epsten Group Campus - The Edge
Turner Building - Luckie Street
Georgia Power Hedquarters
Georgia Pacific Center
Coca-Cola North Avenue Tower
Centennial Tower
100 Peachtree Street
260/270 Peachtree
Peachtree Center - Marquis One
& Two
SunTrust Plaza
SunTrust Plaza - Garden Offices
Atlanta Housing Authority
Atlanta City Hall
American Cancer Society Center
English Avenue Yards
The Walton Building
Metro Atlanta Chamber of Commerce
GSA - Sam Nunn AFC
GSA - Richard B. Russell FB
Bank of America Plaza
To learn more and get involved, visit www.atlantabbc.com
April 2013 - V.2