Leasing volume rises to close to the year, despite looming economic uncertainty

Despite greater economic concern, leasing activity increased for the first time in 2023. In Q4 2023, leasing volume totaled 2.0 million square feet (msf), marking a 25% increase year-over-year. The increase in leasing was fueled by large leases signed in the Northwest and Downtown submarkets by U.S. General Services Administration, GE Verona, and OneTrustLLC, respectively. Even though leasing volume has yet to return to pre-pandemic highs, Atlanta proves to be a resilient and highly desirable market with healthy demand due to its rich diversity of talent, broad foundational industry base and lower cost of living.

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