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)
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 % |
- 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
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 |
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 |
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 |
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.