ATLANTA—It's getting harder to find office commercial real estate in Atlanta. Overall office space vacancy declined slightly to 16.4%, according to Transwestern's latest report. That, the firm said, is due largely to healthy class A office demand.

Atlanta office space absorption was soft in the third quarter, following a very healthy second quarter. Atlanta reported negative office absorption in the first quarter, but the market reports positive net absorption of about 75,000 square feet year-to-date. That's essentially flat in a market of this size.

“Consistently during the past two years, the Atlanta office sector—in both A and B office classes—has seen aggressive rent growth in every major submarket,” Keith Pierce, senior research manager with Transwestern, tells GlobeSt.com. “In reaction to rising rents in the tightening market, businesses within industries driving office market trends are reconsidering space requirements and locations and becoming more efficient which is being reflected in lease transactions.”