2021 Office Space Rent & Sales
- $31.38 2021 Avg. Asking Rent
- 2.31% Y-o-Y Avg. Asking Rent Change
- 21.25% 2021 Office Vacancy Rate
- $2.1B2021 Total Office Sales
- $274.83Avg. Sale Price/SF
Atlanta office price per square foot in 2021 was $31.38 on average. This marked a +2.31% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 21.25% across all asset classes combined. The 42 transactions that closed here throughout 2021 amounted to a total sale volume of $2.1B. Atlanta office space commanded an average sale price per square foot of $274.83.
Average Rent by Office Class
2021 Average Office Rent per Square Foot
- Atlanta Class A & A+ Office Space$32.92
- Atlanta Class B Office Space$23.01
- Atlanta Class C Office Space$16.78
- Georgia Class A & A+ Office Space$30.85
- Georgia Class B Office Space$21.47
- Georgia Class C Office Space$16.23
Atlanta, GA Office Asking Rents by Class
Average office rent in Atlanta rested at $31.38 per square foot in 2021. As would be expected, office rent price showed some variation from one asset class to another. As such, the asking rent for class A office space in Atlanta averaged $32.92 per square foot. Across all submarkets, class B office space recorded an average asking rent of $23.01 per square foot. Meanwhile, assets encompassing class C office space saw asking rents of $16.78 per square foot, on average. Comparably, statewide Georgia average office rents by class in 2021 were: $30.85 per square foot for class A office space; $21.47 per square foot for class B office space; $16.23 per square foot for class C office space.
2021 Office Vacancy Rates in Atlanta
Submarket | Asking Rents | Vacancy Rates |
---|---|---|
West Atlanta | $40.94 | 14.37% |
Midtown | $36.99 | 21.92% |
Buckhead | $36.33 | 23.45% |
Central Perimeter | $30.58 | 23.40% |
Galleria | $29.47 | 23.07% |
Brookhaven | $28.67 | 12.42% |
Central Business District | $26.15 | 18.21% |
South Atlanta | $21.09 | 28.98% |
Northlake\Chamblee | $20.71 | 22.48% |
Atlanta Office Sale Price per SF
- $274.832021 Avg. Price per SF
- 33.85%Y-o-Y Avg. PpSF Change
- $2.1B2021 Office Sales Volume
- 422021 Number of Transactions
Atlanta, GA Sale Price per SF Trend
- Atlanta Avg. Sale Price per SF in 2021$274.83
- Georgia Avg. Sale Price per SF in 2021$211.63
2021 Office Sales Volume
- Atlanta, GA Total Office Sales Volume in 2021 $2.1B
- Atlanta, GA Total Number of Office Sales Closed in 2021 42
Largest Atlanta Office Sales in 2021
Property name | Address | Date | Price |
---|---|---|---|
725 Ponce | 725 Ponce de Leon Avenue NE | 8/2/2021 | $300,200,000 |
American Cancer Society Center | 250 Williams Street NW | 7/22/2021 | $285,000,000 |
999 Peachtree | 999 Peachtree Street NE | 10/25/2021 | $223,900,000 |
Twelve24 | 1224 Hammond Drive | 6/28/2021 | $195,000,000 |
CNN Center | 190 Marietta Street NW | 7/1/2021 | $144,800,000 |
Coworking Spaces in Georgia
- Atlanta Coworking Space
- Miami Coworking Space
- Charlotte Coworking Space
- Nashville Coworking Space
- Tampa Coworking Space
- Raleigh Coworking Space
- Orlando Coworking Space
- Sandy Springs Coworking Space
- Alpharetta City Coworking Space
- Duluth Coworking Space
- Peachtree City Coworking Space
- College Park Coworking Space
- Decatur City Coworking Space
- Dunwoody Coworking Space
- Fayetteville Coworking Space
- Marietta Coworking Space
- Roswell Coworking Space
- Chamblee Coworking Space
- Lawrenceville Coworking Space
- Peachtree Corners Coworking Space
2021 Office Construction in Atlanta, GA
- Atlanta, GA Total SF completed in 2021 5,078,904
- Atlanta, GA Total SF under construction in 2022 3,192,899
During 2021, 5,078,904 square feet of new office space were delivered across the market. At the close of 2021, the Atlanta office inventory included 12 buildings equal to or larger than 25,000 square feet, which comprised 5,078,904 square feet of office space. Looking forward, development activity throughout 2022 is estimated to add 3,192,899 square feet of office space to the market, before year-end.
Office building | Address | SF | Completed |
---|---|---|---|
222 Mitchell | 222 Mitchell Street SW, 30303 | 340,388 | 2023 |
Echo Street West | 745 Echo Street, 30318 | 296,247 | 2023 |
Lee + White - Building 929 | 929 Lee Street, 30310 | 109,853 | 2023 |
2021 Peachtree Road | 2021 Peachtree Road, 30309 | 75,000 | 2023 |
Midtown Union | 1331 Spring Street, 30309 | 644,046 | 2022 |
Fourth Ward Project | 760 Ralph McGill Boulevard Northeast, 30312 | 475,000 | 2022 |
One Phipps Plaza | 3550 Peachtree Road, 30326 | 365,263 | 2022 |
Westside Paper | 950 West Marietta Street Northwest, 30318 | 223,851 | 2022 |
Three Ballpark Center | 3 Ballpark Avenue, 30339 | 335,561 | 2021 |
The Battery | 3 Ballpark Ave, 30339 | 332,486 | 2021 |
Worth noting among recent office completions on the Atlanta market is 222 Mitchell, which is currently the largest new office development in the city, at 340,388 square feet.
See reports for other markets
- Alpharetta Office Rent Price
- Sandy Springs Office Rent Price
- Marietta Office Rent Price
- Duluth Office Rent Price
- Peachtree Corners Office Rent Price
- Roswell Office Rent Price
- Norcross Office Rent Price
- Decatur Office Rent Price
- Kennesaw Office Rent Price
- Lawrenceville Office Rent Price
- Smyrna Office Rent Price
- College Park Office Rent Price
- New York City Office Rent Price
- San Antonio Office Rent Price
- Dallas Office Rent Price
- Houston Office Rent Price
This market stats report is based on analysis of city-level data that includes office properties equal to or larger than 25,000 square feet in size. Averages were calculated based on values dated January 1st 2021 through December 31st 2021. Construction pipeline data represented herein is valid as of April 2022. The information on this page was compiled using data provided by CommercialEdge, a market intelligence solution which offers comprehensive real market knowledge on all Atlanta 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.