More Business News:

Atlanta Office Vacancies Continue Piling Up

BY PATRICK BRASWELL, Colliers Spectrum Cauble

The commercial real estate firm that I work for, Colliers International, has recently issued its 3rd quarter Atlanta office market report, and the headline reads "Atlanta Office Vacancies Continue Piling up".

Here are the highlights of the report:

- 3rd Quarter wasn't as bad as 2nd Quarter concerning negative absorption

- Occupancy dropped another 313,000 SF in the 3rd quarter

- Smaller companies ranging between 15,000 - 75,000 SF have given back the most office space

- New office building deliveries were the largest contributor to the 1.6 million SF of vacancy added in the 3rd quarter

- To date, the overall office vacancy rate stands at 18.6%, the highest since 2004

- To date, Atlanta has lost occupied office space of 750,000 SF, and it is likely Atlanta will reach 1 million SF of lost occupied office space by the end of the year

- 3 our of the 4 largest leases that were signed in the 3rd quarter were lease renewals

- The current distribution of office space leasing activity is around 50-50 for new deals and lease renewals

So what does it all mean for an Office Tenant in Metro Atlanta?

- If you like your location, but not your lease terms... Now is the time to try and restructure your current lease with your existing Landlord.

- If you are considering relocating your office space... Then take the next steps and explore the office market.

- Bottom-line: It is a great time to be an Office Tenant in Metro Atlanta.

For more information on the 3rd Quarter Office Market, please visit the link below.

You can also click here to learn more about options in Atlanta's office market: https://www.mosatlanta.com/Home.html

Colliers Q3 Office Market Report for Atlanta
http://bit.ly/1CHyFU