This Type of Office Renting for a Premium

Class A per square foot asking rent for office space in Atlanta’s urban core has hit $30.62. But that’s not all.

ATLANTA—Class A per square foot asking rent for office space in Atlanta’s urban core has hit $30.62. That’s the market’s first time on record above $30 per square feet, according to Savills Studley’s Q2 Atlanta Market Report. The office market report highlights several noteworthy factors weighing on the city’s development and tenants.

“The vacancy rate has been falling and construction costs are increasing,” Chris White, a market leader at Savills Studley, tells GlobeSt.com. “New buildings are asking between $40 and $45 per square foot, which is elevating the asking price for nicer class A buildings in the market. Rents have moved from high $20s per square foot to low-high $30s per square foot.”