Quote:
Originally Posted by DNR
I guess this is why we lost the office component of the mixed use 1230 West Peachtree project...
Atlanta Business Chronicle:
"Midtown lost 1 million sq.ft. in office occupancy over the past two quarters resulting in an 18% vacancy rate, the highest since 2003..."
|
Unless an office project has leased up close to 100% prior to Concept Drawings being completed, there won't be a new office project built any time soon. We've already seen the Portman and Cousins projects paused, and the Hanover office part completely eliminated. Smaller projects are easier to get leased and funded than bigger ones. So projects along the Beltline and West Midtown are likely to go forward while larger ones in core markets are a no-go.