Wednesday, January 28, 2009

Some good news for downtown

I am super busy these days, so just a quick post to highlight some positive news for downtown.  Looks like the downtown office market is doing pretty well:
The report, published Monday, noted Atlanta’s downtown office vacancy rate stood at 12.6 percent on Dec. 31, 2008. This compares with a rate of 13.5 percent at the end of 2007.

However, suburban Atlanta office vacancies were a different matter. The suburban office vacancy rate was 15.8 percent at the end of 2008, compared with a rate of 14.4 percent at the end of 2007.
It wasn't that long ago that a lot of people were writing off downtown as an office destination.  191 Peachtree was mostly empty, and overall vacancies were 22% or so.  Cousins Properties bought 191 and leased it up, Barry Real Estate did well with Allen Plaza, and new owners at Peachtree Center must be doing something right.  It is good to see the office market doing well, and I hope it is a sign of future success.  More people moving intown means they don't want to drive to Alpharetta to work, and downtown still has the best transportation infrastructure in the city.  Now if we can just get that multi-modal station going....

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.