News
SEEING THE LIGHT!
September 26, 2011
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| If you're Ray Charles, it may be an ?old sweet song? that keeps Georgia on your mind, but for Reis Analyst Michael Steinberg it has to be the Atlanta office market. For a grueling two years, the metro has struggled with unemployment well above the national average, which has kept rents low and vacancies high. Recent figures show, however, that during Q2 2011, The Big Peach posted positive net absorption for the second time since June 2008, clocking in at a positive 440k SF. And although a quarter of positive net absorption in 2009 was succeeded by five losing periods, forecasts suggest this may be a light at the end of the tunnel. Absorption is expected to be 70k SF by the end of 2011 (the first positive year since 2007—how long ago was that? Justin Timberlake was still a musician, not an actor), and demand will continue to increase into 2012. |
