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THE WORLD IS FLAT

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THE WORLD IS FLAT
Richard Bowers Midtown Peachtree Street
Richard Bowers & Co. data says the metro area office eked out a little more than 10K SF in positive absorption during Q3. And Jonathan Majors, director of research for the brokerage, says don't expect much better in  Q4. That means Atlanta office absorption will post negative for the year, given 422K SF of negative absorption occurred through Q3. Rents will continue to feel downward pressure(now at $21.29/SF, just below the national average of $21.61), especially since the influx of new trophy tower space in Buckhead kept rates somewhat artificially high  for a time, he says. Jonathan says 2011 will be better, but "I think most people are predicting a year or two years out for significant improvement."
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