Class A options increase as new deliveries hit the market
Overall availability in Atlanta ended the quarter at 19.7%, holding fairly steady, down just 30 basis points over the year. Class A availability, however, continues to increase, rising 110 basis points over the year to 21.4% as two new Class A properties were added to the Atlanta inventory. The spread between Central Business District (CBD) and suburban availability now stands at 330 basis points, with overall CBD availability currently at 17.6%. New inventory continues to push CBD rents up, now averaging $33.48 per square foot (psf) for all classes and $34.99 psf for Class A space. As more options become available, particularly in Class A space, landlords are growing more generous with concession offerings.