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.”
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