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The Real Reason for So Little Spec Office

ATLANTA—Atlanta's office market is booming. So why so little speculative development?

By Jennifer LeClaire | Updated on October 27, 2016
Pershing Park Plaza Pershing Park Plaza

ATLANTA—After experiencing a slow start to the year, Atlanta’s office leasing market has followed with two strong quarters of positive direct net absorption. Absorption gains for the third

quarter totaled 457,655 square feet, a respectable follow-up to the 488,418 square feet gained in the second quarter, according to PM Realty Group.

As a result, the firm reports, the year-to-date direct net absorption tally reached 1,021,213 square feet through the third quarter, sustaining a relatively strong trend of positive absorption and signaling healthy leasing market fundamentals. Class A product accounted for the majority of the quarterly demand with 461,706 square feet of of direct absorption growth, increasing its year-to-date total to 810,815 square feet.

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