Atlanta Office Market
Atlanta’s office market is in a holding pattern heading into Q2. Layoffs and paused expansion plans in the technology industry, which drove much of the robust leasing recovery in 2022, have tempered expectations for the coming year. While absorption continues a positive trajectory as tenants take occupancy on last year’s leases, new leasing declined considerably. And some market participants note a slowdown in inquiries from the new-to-market corporate relocations that drive the largest leases. Still, the market’s long-term appeal remains intact.
In Atlanta, long-term demand for office space benefits from regional affordability, population growth, and a diverse workforce. However, the market is not immune from macro recessionary trends and a drastically tighter financing environment.