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Atlanta Office Market To Hit Speed Bump in '08

ATLANTA-A recent report predicts the metro area office market will drop slightly from 2007, which saw strong conditions.

By Natalie Keith | Updated on February 07, 2008

ATLANTA-Despite a strong showing throughout 2007, real estate experts are projecting that 2008 will not be as strong due to the questionable economic outlook. “Nevertheless, as the fastest-growing city in the country and the number one location under consideration for young college professionals, we fully expect the Atlanta office market to have positive absorption in 2008 unless there is a severe economic downturn,” according to a Richard Bowers & Co. Q4 report for the Atlanta office market.

Richard Bowers is projecting that occupancy rates will likely increase by a small percentage with the limited number of deliveries projected for 2008. Rental rates, which have been relatively stable in comparison to other US markets, are also expected to move upwards possibly by as much as $1 per sf.

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