ATLANTA—While over 1.3 million square feet of office leases were signed in the second quarter, more than 3.1 million square feet of office product is underway. That's according to Cushman & Wakefield's latest Atlanta office market report.
The largest office project under construction is Coda Tech Square at 760,000 square feet. In the second quarter alone, more than 1.3 million square feet of office space was delivered, the largest amount since the first quarter of 2010. The most significant completion was the delivery of Three Alliance in Buckhead, a 506,000-square-foot class A building.
The Atlanta office market will continue to relieve the tightening of office space with the delivery of 2.5 million square feet of speculative product over the next two years. That, says CushWake, will give companies seeking office space in Atlanta more options, but pre-leasing activity is expected to increase as the developments progress.
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