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Midtown Office Leasing Will Prevail

ATLANTA-A law firm panel discussion tells of promise for the submarket's future.

By Carl Cronan | Updated on April 03, 2009

ATLANTA-Commercial real estate executives are upbeat about prospects for the city’s Midtown office submarket, citing the advantage of infrastructure improvements in recent years. They point out that it has less new space under construction than neighboring Buckhead, which could cause trouble there in the long term.

Midtown’s future was among several topics touched on during a panel discussion hosted last week by law firm Arnall Golden Gregory LLC. About 350 people attended Thursday’s breakfast meeting at the BB&T Building.

First-quarter statistics by Jones Lang LaSalle show that Midtown’s vacancy rate of 17.8% is between Buckhead’s 16.4% rate and 19.7% for Downtown Atlanta. Midtown rents are also in the midrange at $24.69 per square foot, just a dollar over the citywide average.

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