Area Office Investment Still Flexing Muscles

ATLANTA-With steady employment, rising rents and decreasing vacancies, investors remain interested in Atlanta properties, according to industry insiders.

“The Atlanta investment market will continue to garner the interest of institutional and private investors, who are attracted to the stability of the local economy and long-term prospects for firming of operating fundamentals, says Marcus & Millichap regional manager of the Atlanta office John Leonard.

The report states that office properties traded for a median price of $150 per sf during 2007, a 15% increase from a year ago. Asking rents were projected to increase 3.2% to $21.01 per sf during 2007, while effective rents were forecast to climb 4.2% to $17.24 per sf.