A Bright Future in Atlanta
An In-Depth Look at Atlanta, One of the Fastest Growing Economies in the Southeast
In recent years, Atlanta has established itself as one of the most up-and-coming cities on the Eastern Seaboard. The city has become known as a popular, cost-friendly destination for young professionals and has established a unique cultural imprint across various entertainment platforms such as film, television and music.. This has resulted in impressive and steady population growth that has proved attractive to firms who see the opportunity presented by the confluence of a young, upwardly mobile workforce and competitive rent and tax rates.
Thanks to this renewed interest in the area, office real estate in Atlanta is in high demand. While the city’s real estate market has always been strong, the current excitement suggests its office market is quickly gaining momentum as the sector begins a rapid rebound in the wake of the pandemic.
The following insights from CP Group can serve as a useful guide to Atlanta’s current office leasing climate, its enduring cultural appeal, and growing real estate market, and also provide vital information for those seeking available office space in the surrounding area.
Atlanta Market Overview
Georgia has been rated as the top state for doing business seven years in a row, making it a highly attractive location for businesses to relocate their operations.
Atlanta serves as a center of business activity for the Southeast region, and companies such as Home Depot, Delta Airlines, The Coca-Cola Company, Aflac, and United Parcel Service (UPS) all maintain their headquarters in the city. With the third-highest population growth among high-growth and gateway markets across the country, Atlanta is an attractive destination for any company looking to relocate their headquarters to a business-friendly environment.
One of the Largest Economies in the Southeast
The Atlanta metro area is the largest urban economy in the Southeast and boasts similarly impressive demographic indicators, including: a low median age of 36.7, a low unemployment rate of 3.9%, and a median household income higher than national average at $71,224 per year. These factors have had a consistently positive impact on the area’s economy, which has grown at a steady pace of 3.8% annually since 2010 and supported an average job growth rate of 2.8%.
Atlanta’s business community is both vast and diverse, with the city playing host to a growing international business community that includes multiple Fortune 500 and Fortune 1000 companies. In 2021 alone, seven large corporations have moved their headquarters to Atlanta including Airbnb, Minute Maid, and Adecco. Atlanta is home to more than 150,000 businesses – supported by the strong backbone of a home-grown entrepreneurial community. Keep reading to learn more about what draws these businesses to Atlanta.
The Office Leasing Market in Atlanta
Atlanta’s strong economy has led to exponential growth in its office market. Over 23 million square feet of office space will have been added to Atlanta’s real estate market between the end of the Great Recession and 2023. Despite the slowdown from the COVID-19 pandemic, the Atlanta market is still on pace to achieve a five-year growth rate in excess of 20%. Class A and trophy properties demonstrated a 20.1% growth between 2016 and 2021. Read the latest updates from CP Group on the expanding Atlanta market.
CP Group Office Buildings in Atlanta
Prominence Tower
18-story trophy office tower in dynamic Buckhead submarket
Provides the best access in the submarket, located at Lenox and Piedmont Roads directly adjacent to GA-400
One and Two Ravinia
Two 17-story towers situated within one of the most prestigious, well-known suburban office parks in the region
View PropertyLakeside Office Park
Five fully renovated mid-rise buildings within a masterfully designed campus setting situated around a central, pristine lake oasis
View Property