Atlanta’s Office Market is on the Rebound!
Atlanta’s office landscape is experiencing a transformation, and it’s buzzing with excitement! After facing challenges like high vacancy rates, the city is gearing up for a resurgence in office leasing. According to a recent report from Colliers, the office market in Atlanta has seen a significant increase in vacancy rates hitting 20.6%. However, this report also brings good news: the market is trending toward stability with a spike in leasing activity!
The Changing Office Environment
One of the prominent voices in this conversation is Lindsay Wilson, the president of the acclaimed architecture and design firm, Corgan. She shared some insightful thoughts about what potential tenants in Atlanta are looking for in their office space. Gone are the days when just a small café in the office building cut it. Nowadays, tenants are becoming increasingly mindful about their office surroundings. As Wilson puts it, “The days of having just a small café in the office building are gone.” Recent trends indicate that owners value recognizable brands, restaurants, and retail experiences in the neighborhoods surrounding their office complexes, enriching the overall user experience.
Upcoming Atlanta Office Summit
On December 3rd, business leaders, investors, and tenants will gather at the Atlanta Office Summit, where they’ll dive deep into the future of workspaces. Wilson will join other industry experts on the Ownership and Development Outlook panel, discussing what tenants want for their offices and the latest in financing and leasing developments. If you’re keen to understand these trends, don’t miss out on getting your tickets!
What’s Trending in Offices?
Wilson highlighted two standout trends in the office market. First off, we’re still in a period of uncertainty. Even though everyone wishes they had a clear vision of what their ideal office looks like, many businesses are still figuring that out. Wilson often hears clients ask for insights into what other companies are doing regarding return-to-work policies and workplace flexibility.
The second trend she noted is the ongoing flight to quality. Now, more than ever, companies are investing in their office spaces, focusing on technology, branding, and thoughtful design. “Our clients are clear on what they’re after and are treating their workplace like a vital tool for their business,” shared Wilson. This shift represents a more collaborative effort where budget alignment and creative expectations take center stage.
Attractive Features for Tenants
What do tenants want? According to Wilson, potential office tenants are eyeing curb appeal, outdoor spaces, and the overall feel of their neighborhood. As owners seek to enhance existing properties, making the most of usable outdoor areas for work and social gatherings becomes a priority. The conversations around amenities extend beyond the office walls! What restaurants can employees stroll to for lunch? What boutique fitness options are available nearby? More companies are focusing on these local features rather than building fitness facilities on-site, making community vibe a crucial factor.
Creating Lasting Impressions
To ensure their offices stand the test of time, building owners are tasked with striking a balance between trendy and timeless. Wilson explained, “There’s a tension between being trendy and being boring. The goal is to cultivate a genuine identity for a building that differentiates it from others.” It’s all about creating a space that feels authentic while forming a connection with the users.
Corgan’s Growth in Atlanta
Corgan has its sights firmly set on Atlanta, expanding its reach across various sectors such as workplace, higher education, K-12, aviation, and data centers. With 19 office locations nationally, they’re excited about the developments in the Atlanta area. Their client-centric approach allows them to adapt services and grow based on individual client needs.
Looking Forward to New Insights
As the Atlanta Office Summit approaches, Wilson eagerly anticipates gaining new insights from panel discussions. “I always look forward to hearing different perspectives. The exchange of ideas is incredibly enriching,” she said.
So, keep an eye on Atlanta’s evolving office market; there’s a lot to look forward to, with exciting changes on the horizon!
