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Keith Pierce, research director, Southeast, Transwestern Keith Pierce, research director, Southeast, Transwestern

ATLANTA, GA—After four years in which annual absorption ranged from 2.0 million to 3.7 million square feet annually, Atlanta absorbed approximately 600,000 square feet in 2016 and just under 450,000 square feet in 2017. In the first nine months of 2018 Atlanta has seen essentially flat absorption, with -5,467 square feet reported as of the end of Q3. The market saw nearly 500,000 square feet of net absorption in Q1, but that has been offset by move-outs and space reductions since then. Q3 saw mildly negative demand of -104,329 square feet, with gains in urban submarkets offset by losses in the suburbs.

According to Transwestern’s Keith Pierce, director of research for the firm’s Southeast region, overall vacancy rose slightly to 16.7% due to the negative absorption and the delivery of unleased space in 4004 Perimeter Summit and a few smaller properties this year. But Pierce believes an important story has been missed: vacancy has been plummeting in urban class B properties, with Midtown class B space at just 4.3% vacant, and Buckhead close behind at 7.3%. Users are looking for affordable space in the most desirable neighborhoods, he says.

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Steve Lubetkin

Steve Lubetkin is the New Jersey and Philadelphia editor for GlobeSt.com. He is currently filling in covering Chicago and Midwest markets until a new permanent editor is named. He previously filled in covering Atlanta. Steve’s journalism background includes print and broadcast reporting for NJ news organizations. His audio and video work for GlobeSt.com has been honored by the Garden State Journalists Association, and he has also been recognized for video by the New Jersey Chapter of the Society of Professional Journalists. He has produced audio podcasts on CRE topics for the NAR Commercial Division and the CCIM Institute. Steve has also served (from August 2017 to March 2018) as national broadcast news correspondent for CEOReport.com, a news website focused on practical advice for senior executives in small- and medium-sized companies. Steve also reports on-camera and covers conferences for NJSpotlight.com, a public policy news coverage website focused on New Jersey government and industry; and for clients of StateBroadcastNews.com, a division of The Lubetkin Media Companies LLC. Steve has been the computer columnist for the Jewish Community Voice of Southern New Jersey, since 1996. Steve is co-author, with Toronto-based podcasting pioneer Donna Papacosta, of the book, The Business of Podcasting: How to Take Your Podcasting Passion from the Personal to the Professional. You can email Steve at [email protected].

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