Jones Lang LaSalle came out with Q1 summary of economic and real estate market conditions for metro Atlanta. The report includes key market indicators, tenant and landlord perspectives, and forecast. Click here to see JLL Atlanta Research Page.
“After many years in which leverage across the market remained firmly in the tenant’s favor, bargaining conditions have begun to moderate within certain Atlanta submarkets. Large block availabilities have dissipated in Central Perimeter, North Fulton, and Buckhead, where leasing velocity has been brisk. Midtown has also started to see the vacancy rate falling off as employers add back jobs or relocated to the city’s urban core.”
Although asking prices are still somewhat flat across less active metro submarkets, “owners ease the pedal on tenant improvement allowances” deals are not as deeply discounted as they were 12 to 18 months ago.
Source: Jones Lange LaSalle