Atlanta’s office tenants seize suburban space as market rates steadily climb
![Graph showing how long office space in urban versus suburban submarkets were on the market](/documents/191207401/196203332/Atlanta+Data+Bite+Office+1.24.24+%281%29.png/26a67f99-8b12-9028-2f9c-c52692d3d979?t=1706547526967)
– Amid continued economic headwinds and an increase in office asking rates, value still has its place within the suburban submarkets in Atlanta.
– Driven by the flight to quality trend, 2023 ended with urban office spaces averaging a full-service asking rate of $37 per square foot, while suburban office spaces are attracting tenants with a significant price discount of $26 per square foot full-service.
– This has resulted with a year-end 18% quicker average leasing time of 11 months on the market, compared to 13 months for urban office space.
January 29, 2024
Additional resources
Get market intel
US-GA-ATL Atlanta