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The Atlanta office market<\/a> made a steady recovery during Q2, following a slow start to the year. Sales volume exceeded $640 million, although only half the usual number of deals of over $5 million closed between April and June 2017. Urban Class A office properties moved well and, in fact, first class inventory accounted for 90% of office assets larger than 50,000 square feet traded in Q2. Average price per square foot is also on the upswing, resting at 11% over the past five years’ quarterly average. With all market metrics pointing up, developers have confidently been delivering more office space, both in the urban core and in Greater Atlanta<\/a>.<\/p>\n With the help of Yardi Matrix<\/a> data, we analyzed all sales of office buildings larger than 50,000 square feet to close at over $5 million during Q2 2017 (see methodology<\/a>). Find the key takeaways below and read on to see how the Atlanta office market fared:<\/p>\n With eight office assets changing hands during Q2 2017, Atlanta office sales activity has slowed down, compared to the five-year average of 16 deals to close per quarter. But even with fewer transactions on the books, Q2 2017 sales are up 64% year-over-year and 44% higher than Q1’s. The sales recorded in May alone accounted for over half of the quarterly tally of $626 million, which marks Atlanta’s third-best performing second quarter of the past five years, in terms of dollar volume.<\/p>\n\n
Q2 Dollar Volume Surpasses Q1 in Half the Sales<\/h3>\n