MemberSuite launched in 2010 and has since experienced a substantial boom. Founder Andrew Ryan opened the office at Perimeter Center East with just a handful of employees. Over time, MemberSuite accelerated to a staff of 50, and now is in the process of adding 50 additional employees. Ryan says, “This building and location offers the amenities and conveniences our growing workforce needs—from nearby restaurants to flexible meeting space.”

Atlanta's office space asking rent is likely to push a bit higher in 2017, but not as sharply as in 2015 or 2016, according to Savills Studley's research. In addition to facing a higher rent, tenants will also find that the rising cost of space build-outs requires them to contribute significant capex to new projects over and above the landlord allowance.

ATLANTA—MemberSuite, an association management software provider, has inked a long-term lease at 47 Perimeter Center East. Since 2010, the company has grown from a 2,300 square feet to 17,145 square feet of office space.

Office tenants looking in Central Perimeter have more choices than in Buckhead and Midtown Atlanta. There are 16 office buildings with a contiguous block over 50,000 square feet, according to Savills Studley. The availability rate has spiked by 320 basis points to 23.1%. This includes 1.3 million square feet of sublet office space—State Farm is the biggest source of sublease space as the company prepares to migrate to its headquarters building)—more than the combined 800,000 square feet of sublet office space in Midtown and Buckhead.

“The tech sector remains a catalyst for office space demand across the city,” Bennett Gottlieb, vice president for Advisory & Transaction Services-Occupier at CBRE, tells GlobeSt.com. “MemberSuite's consistent growth is another good example of this. Given the challenges that arise from a healthy real estate market, including rising real estate costs, competition for space, and increased construction costs, a thoughtful growth strategy is paramount.”

Following a Series B capital raise, MemberSuite plans to double its workforce to 100 employees—sparking a noteworthy buzz in the technology industry. To accommodate the growth, the software company has relocated to an entire floor.

MemberSuite launched in 2010 and has since experienced a substantial boom. Founder Andrew Ryan opened the office at Perimeter Center East with just a handful of employees. Over time, MemberSuite accelerated to a staff of 50, and now is in the process of adding 50 additional employees. Ryan says, “This building and location offers the amenities and conveniences our growing workforce needs—from nearby restaurants to flexible meeting space.”

Atlanta's office space asking rent is likely to push a bit higher in 2017, but not as sharply as in 2015 or 2016, according to Savills Studley's research. In addition to facing a higher rent, tenants will also find that the rising cost of space build-outs requires them to contribute significant capex to new projects over and above the landlord allowance.