| Atlanta Office Space Market - East Atlanta / Decatur |
(Reported by)
Tom Stokes, Jr.,
CPM®, CCIM
Managing Broker
EpiCity Real Estate Services
TStokes@EpiCity.com
404-995-9494
Looking for space?
Tom has 24 years
of CRE experience. |
East Atlanta / Decatur Submarket - 4th Qtr 2011
Effective Rental Rates:
Class A office space: $20.98-$23.00 per SF
Class B office space: $7.00-$30.84 per SF
Class C office space: $8.47-$17.49 per SF
Concessions:
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Free Rent: Varies from none to one month per year of lease term depending on the other economics of the lease. |
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Tenant Improvement Allowance: Varies by landlord. |
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Moving Allowances: None. |
Absorption Rate: 8,344 SF in 4th Qtr. 2011*
Vacancy Rate: 9.95%* in 4th Qtr. 2011*
* Source: CoStar Group, Inc.
New office projects in the area: There’s been no new construction reported in the last quarter.
Major office leases or announcements in the area: None.
Other trends in the submarket that should be noted: Several properties have begun to change hands and some of the new owners are taking aggressive steps to make their property competitive. In the Salem Road sub-market three properties have changed hands recently. The largest of these is Wall Street Conyers, formerly Gibraltar Square. The bank-owned asset consists of 41,000 square feet of office condos. A major renovation has completely upgraded the facades, interiors, courtyards and landscaping. A new hi-tech 3,300 SF conference center is also planned. With spaces as small as 444 SF up to 21,000 SF, the property is targeting companies which need its easy access, attractiveness, ample parking and affordability. Entrepreneurs who wish to own their offices are structuring favorable lease-purchase agreements hoping to leverage off of today’s favorable financing. Similar improvement programs are contemplated by at least one other owner in the sub-market. |
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| FREE MARKET REPORTS AT DOREY.COM ... 24/7... CLICK HERE |
| East Atlanta / Decatur Premier Office Property Short-List* |
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Office Park at Stonecrest
3120 Stonecrest Boulevard
RATE:
$14.50 (NNN)
MAX CONTIG:
8,700 SF |
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| Taylor & Mathis |
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Wall Street Conyers Offices - For Sale or Lease
2365, 2375 & 2395 Wall Street
RATE:
$13.75 (MG)
MAX CONTIG:
36,000 SF |
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| EpiCity Real Estate Services. |
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One West Court Square
Decatur, Georgia
RATE:
$21.00
MAX CONTIG:
9,800 SF |
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| Scott & Associates, Inc. |
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| *Short-List represents featured properties inside Dorey’s Atlanta Office Guide. The Done Deals shown in this Short List are reported to us quarterly as a voluntary effort. It does not represent a comprehensive report of done deals for all Short List properties. |
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