Alpharetta Office Market Trends

Office Rental Market

  • $25.42 2019 Avg. Asking Rent
  • 14.60 % 2019 Avg. Vacancy Rate
  • 490,855 2019 Office Completions (Sqft)
  • 515,016 2020 Estimated Pipeline (Sqft)
In 2019, the average asking rent for office space in Alpharetta was $25.42 per square foot, and the office vacancy rate across the market averaged 14.60 %. During 2019, developers added 490,855 square feet of new office space to the Alpharetta market inventory. Office developments estimated for delivery during 2020 total 515,016 square feet.

Average Office Asking Rents by Class

2019 Average Office Rent per Square Foot

  • Alpharetta Class A Office Buildings$26.20
  • Alpharetta Class B Office Buildings$21.49
  • Alpharetta Class C Office Buildings$21.01
  • GA Class A Office Buildings$29.13
  • GA Class B Office Buildings$20.45
  • GA Class C Office Buildings$16.21

Alpharetta, GA Office Asking Rents by Class

Office asking rents vary across the Alpharetta office market depending on several factors, one of which is property class. While rents for Class A office buildings in Alpharetta averaged $26.20 per square foot in 2019, Class B office properties garnered average rental rates of $21.49 per square foot. Rental rates for Class C office property in Alpharetta averaged $21.01 per square foot. On a statewide level, Class B office space rents averaged $20.45 per square foot, while rents for Class A office space across Georgia averaged $29.13 per square foot. On average, Class C office properties in Georgia commanded rents of $16.21 per square foot.

2019 OFFICE VACANCY RATES

Submarket Asking Rents Vacancy Rates
Alpharetta $25.58 14.16 %
Johns Creek $19.33 11.11 %
Data provided by Commercial Edge
  • The lowest office vacancy rate in 2019 in Alpharetta was 11.11 % in the Johns Creek submarket, where asking rents averaged $19.33.
  • The highest office vacancy rate in 2019 in Alpharetta was 14.16 % in the Alpharetta submarket, where asking rents averaged $25.58.

OFFICE CONSTRUCTION IN Alpharetta, GA

  • Alpharetta, GA Total Sqft completed in 2019 490,855
  • Alpharetta, GA Total Sqft under construction in 2020 515,016
10 Largest Office Buildings in Alpharetta
Building name Address Total Sqft Year built
300, 400, 500, 600 & 700 North Point Pkwy 300 North Point Pkwy, 30022 690,808 1985
Verizon Place 1 Verizon Place, 30004 580,455 1998
5555 Windward Pkwy 5555 Windward Pkwy, 30004 506,411 1989
5800 Windward Pkwy 5800 Windward Pkwy, 30005 387,678 1996
2900 & 2950 Westside Way 2900 Westside Pkwy, 30004 376,351 2001
UPS Supply Chain Solutions 12380 Morris Road, 30005 310,135 2001
2575 Northwinds Pkwy 2575 Northwinds Pkwy, 30009 306,000 2019
Solvay Headquarters 4500 McGinnis Ferry Road, 30005 269,407 1990
North Point Park 5755 North Point Pkwy, 30022 268,199 2004
1000 Windward Concourse 1000 Windward Concourse, 30005 255,201 1997
Largest Office Properties Recently Completed in Alpharetta
Office building Address Sqft Completed
Kimball Place at Parkway 400 100 Kimball Bridge Road, 30009 128,000 2021
360 Tech Village - Building 2 SWC Haynes Bridge Road & Morrison Pkwy, 30009 120,000 2021
Crabapple Market West - Offices 12650 Crabapple Road, 30004 55,454 2021
10000 Avalon 10000 Avalon Blvd, 30009 252,025 2020
The Edison - Building 2 1 Edison Drive, 30022 107,991 2020
55 & 61 Roswell Street 55 Roswell Street, 30009 56,000 2020
Northwinds Summit - 3000 Northwinds Summit 3000 Northwinds Summit Place, 30009 30,000 2020
2575 Northwinds Pkwy 2575 Northwinds Pkwy, 30009 306,000 2019
Halcyon - Building 1200 6365 Halcyon Way, 30004 104,855 2019
WellStar Avalon Health Park 2450 Old Milton Pkwy, 30009 40,000 2019
Data provided by Commercial Edge

Office Spaces for Rent in Georgia

ALPHARETTA OFFICE SALES TRENDS

  • $144.522019 Avg. Price per Sqft
  • 0.57 %Y-o-Y Avg. PpSF Change
  • $393.9M2019 Office Sales Volume
  • 152019 Number of Transactions

In 2019, office sales in Alpharetta averaged $144.52 per square foot. This marked a 0.57 % increase in office price per square foot, compared to the previous year. A total of 15 office sales closed on the Alpharetta office market in 2019, amounting to a total sales volume of $393.9M.

Average Office Sale Price per Sqft

Alpharetta, GA Sales Trends

  • Alpharetta Price per Sqft$144.52
  • Georgia Price per Sqft$172.86

Office Sales - Trend and Volume

  • Alpharetta, GA Total Office Sales Volume in 2019 $393.9M
  • Alpharetta, GA Total Number of Office Sales Closed in 2019 15

Largest Alpharetta Office Sales in 2019

Property name Address Date Price
Georgia 400 Center I 2300 Lakeview Pkwy 5/3/2019 $31,444,440
Georgia 400 Center II 2325 Lakeview Pkwy 5/3/2019 $31,323,420
Georgia 400 Center III 2400 Lakeview Pkwy 5/3/2019 $28,232,140
800 North Point Pkwy 800 North Point Pkwy 4/8/2019 $25,650,820
Windward Fairways II 3015 Windward Plaza 11/27/2019 $25,571,250
Data provided by Commercial Edge

See trends for nearby markets

The Alpharetta office market contains an inventory of 21,935,280 square feet of office space, in 417 buildings that are equal to or larger than 25,000 square feet.

This market trends report is based on analysis of city-level data. Averages were calculated based on values dated January 1st 2019 through December 31st 2019. Construction pipeline data shown is valid as of April 2020. The information on this page was compiled using data provided by our sister company, CommercialEdge – a market intelligence solution which offers comprehensive knowledge on all Alpharetta commercial properties sized 25,000 square feet or larger.

While every effort was made to ensure the accuracy of the data presented in this report, the information is provided “as is” and neither CommercialCafe nor CommercialEdge can guarantee that the information provided is complete.