{"id":959,"date":"2019-12-06T13:45:03","date_gmt":"2019-12-06T13:45:03","guid":{"rendered":"https:www.www.crossroadsappraisalgroup.com\/?page_id=959"},"modified":"2020-04-09T18:56:00","modified_gmt":"2020-04-09T18:56:00","slug":"3rd-quarter-2019-office-report","status":"publish","type":"post","link":"https:\/\/www.crossroadsappraisalgroup.com\/3rd-quarter-2019-office-report\/","title":{"rendered":"3rd Quarter 2019 Office Report"},"content":{"rendered":"

[et_pb_section fb_built=”1″ _builder_version=”3.27.3″ fb_built=”1″ _i=”0″ _address=”0″][et_pb_row _builder_version=”3.27.3″ _i=”0″ _address=”0.0″][et_pb_column type=”4_4″ _builder_version=”3.27.3″ _i=”0″ _address=”0.0.0″][et_pb_text _builder_version=”3.27.3″ text_font=”|600|||||||” text_text_align=”center” text_text_color=”#474747″ text_font_size=”28px” text_line_height=”1.6em” header_font=”|800|||||||” header_text_color=”#003168″ header_font_size=”34px” header_line_height=”1.5em” header_2_font=”|600|||||||” header_2_text_color=”#474747″ header_2_font_size=”30px” _i=”0″ _address=”0.0.0.0″]<\/p>\n

3rd Quarter 2019 Office Report<\/h1>\n

Office Market Summary<\/h2>\n

[\/et_pb_text][et_pb_text _builder_version=”3.27.3″ text_font=”|600|||||||” text_text_align=”center” text_text_color=”#6b6b6b” text_font_size=”18px” text_line_height=”1.6em” header_font=”|700|||||||” header_text_color=”#003168″ header_font_size=”34px” header_line_height=”1.5em” _i=”1″ _address=”0.0.0.1″]<\/p>\n

Year to date 2019 results for the Atlanta office market are mixed: cap rates are up, average sales price is down, vacancies are flat and new construction is significantly outpacing absorption; however, rental rates continue to improve. Overall, the metro Atlanta office market remained strong through the first three quarters of 2019 but is showing some signs of at least slowing.<\/p>\n

Below is a quick summary of the Q3 2019 stats that lead to the conclusion above as compiled by Crossroads Appraisal Group from information obtained from CoStar. If you would like a PDF version of the information below, it is available here for your convenience.<\/p>\n

[\/et_pb_text][et_pb_image src=”https:\/\/www.crossroadsappraisalgroup.com\/wp-content\/uploads\/2019\/12\/3rd-Quarter-2019-Industrial-Report-2.jpg” align=”center” _builder_version=”3.27.3″ width=”36%” hover_enabled=”0″ _i=”2″ _address=”0.0.0.2″][\/et_pb_image][\/et_pb_column][\/et_pb_row][et_pb_row column_structure=”1_2,1_2″ _builder_version=”3.27.3″ width=”40%” _i=”1″ _address=”0.1″][et_pb_column type=”1_2″ _builder_version=”3.27.3″ _i=”0″ _address=”0.1.0″][et_pb_blurb title=”314.7 Million square feet” use_icon=”on” font_icon=”%%61%%” icon_color=”#00457a” icon_placement=”left” use_icon_font_size=”on” icon_font_size=”26px” _builder_version=”3.27.3″ header_font=”|600|||||||” header_text_color=”#6b6b6b” header_line_height=”1.6em” custom_margin=”||0px||false|false” _i=”0″ _address=”0.1.0.0″][\/et_pb_blurb][et_pb_blurb title=”Market vacancy rate: 11.4%” use_icon=”on” font_icon=”%%61%%” icon_color=”#00457a” icon_placement=”left” use_icon_font_size=”on” icon_font_size=”26px” _builder_version=”3.27.3″ header_font=”|600|||||||” header_text_color=”#6b6b6b” header_line_height=”1.6em” custom_margin=”||0px||false|false” _i=”1″ _address=”0.1.0.1″][\/et_pb_blurb][et_pb_blurb title=”Avg cap rate: 7.89%” use_icon=”on” font_icon=”%%61%%” icon_color=”#00457a” icon_placement=”left” use_icon_font_size=”on” icon_font_size=”26px” _builder_version=”3.27.3″ header_font=”|600|||||||” header_text_color=”#6b6b6b” header_line_height=”1.6em” custom_margin=”||0px||false|false” _i=”2″ _address=”0.1.0.2″][\/et_pb_blurb][\/et_pb_column][et_pb_column type=”1_2″ _builder_version=”3.27.3″ _i=”1″ _address=”0.1.1″][et_pb_blurb title=”Quoted market rent: $25.78\/sf” use_icon=”on” font_icon=”%%61%%” icon_color=”#00457a” icon_placement=”left” use_icon_font_size=”on” icon_font_size=”26px” _builder_version=”3.27.3″ header_font=”|600|||||||” header_text_color=”#6b6b6b” header_line_height=”1.6em” custom_margin=”||0px||false|false” _i=”0″ _address=”0.1.1.0″][\/et_pb_blurb][et_pb_blurb title=”Avg 2019 sales prize: $175.55\/sf” use_icon=”on” font_icon=”%%61%%” icon_color=”#00457a” icon_placement=”left” use_icon_font_size=”on” icon_font_size=”26px” _builder_version=”3.27.3″ header_font=”|600|||||||” header_text_color=”#6b6b6b” header_line_height=”1.6em” custom_margin=”||0px||false|false” _i=”1″ _address=”0.1.1.1″][\/et_pb_blurb][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=”3.27.3″ custom_padding=”10px|||||” _i=”2″ _address=”0.2″][et_pb_column type=”4_4″ _builder_version=”3.27.3″ _i=”0″ _address=”0.2.0″][et_pb_text _builder_version=”3.27.3″ text_font=”|600|||||||” text_text_align=”center” text_text_color=”#474747″ text_font_size=”28px” text_line_height=”1.6em” header_font=”|800|||||||” header_text_color=”#003168″ header_font_size=”34px” header_line_height=”1.5em” header_2_font=”|600|||||||” header_2_text_color=”#474747″ header_2_font_size=”30px” custom_margin=”36px||||false|false” _i=”0″ _address=”0.2.0.0″]<\/p>\n

SUPPLY<\/h1>\n

[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row column_structure=”1_2,1_2″ module_class=”align-ctr” _builder_version=”3.27.3″ border_width_bottom=”1px” custom_padding=”0px|||||” _i=”3″ _address=”0.3″][et_pb_column type=”1_2″ _builder_version=”3.27.3″ _i=”0″ _address=”0.3.0″][et_pb_blurb title=”Supply up 1.5 million square feet over 2018.” use_icon=”on” font_icon=”%%36%%” icon_color=”#00457a” icon_placement=”left” content_max_width=”768px” use_icon_font_size=”on” icon_font_size=”26px” _builder_version=”3.27.3″ header_font=”|700|||||||” header_text_color=”#6b6b6b” header_font_size=”24px” header_line_height=”1.4em” custom_margin=”0px||15px||false|false” _i=”0″ _address=”0.3.0.0″][\/et_pb_blurb][et_pb_blurb title=”Redevelopment trend remains strong as razing of older buildings for new development continues.” use_icon=”on” font_icon=”%%36%%” icon_color=”#00457a” icon_placement=”left” content_max_width=”768px” use_icon_font_size=”on” icon_font_size=”26px” _builder_version=”3.27.3″ header_font=”|700|||||||” header_text_color=”#6b6b6b” header_font_size=”24px” header_line_height=”1.4em” custom_margin=”||0px||false|false” _i=”1″ _address=”0.3.0.1″][\/et_pb_blurb][\/et_pb_column][et_pb_column type=”1_2″ _builder_version=”3.27.3″ _i=”1″ _address=”0.3.1″][et_pb_image src=”https:\/\/www.crossroadsappraisalgroup.com\/wp-content\/uploads\/2019\/12\/cross-graph-1vv.png” _builder_version=”3.27.3″ hover_enabled=”0″ _i=”0″ _address=”0.3.1.0″][\/et_pb_image][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=”3.27.3″ custom_padding=”10px|||||” _i=”4″ _address=”0.4″][et_pb_column type=”4_4″ _builder_version=”3.27.3″ _i=”0″ _address=”0.4.0″][et_pb_text _builder_version=”3.27.3″ text_font=”|600|||||||” text_text_align=”center” text_text_color=”#474747″ text_font_size=”28px” text_line_height=”1.6em” header_font=”|800|||||||” header_text_color=”#003168″ header_font_size=”34px” header_line_height=”1.5em” header_2_font=”|600|||||||” header_2_text_color=”#474747″ header_2_font_size=”30px” custom_margin=”36px||||false|false” _i=”0″ _address=”0.4.0.0″]<\/p>\n

VACANCY TRENDS<\/h1>\n

[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row column_structure=”1_2,1_2″ module_class=”align-ctr” _builder_version=”3.27.3″ border_width_bottom=”1px” custom_padding=”0px|||||” _i=”5″ _address=”0.5″][et_pb_column type=”1_2″ _builder_version=”3.27.3″ _i=”0″ _address=”0.5.0″][et_pb_image src=”https:\/\/www.crossroadsappraisalgroup.com\/wp-content\/uploads\/2019\/12\/cross-graph-2vv.png” _builder_version=”3.27.3″ hover_enabled=”0″ _i=”0″ _address=”0.5.0.0″][\/et_pb_image][\/et_pb_column][et_pb_column type=”1_2″ _builder_version=”3.27.3″ _i=”1″ _address=”0.5.1″][et_pb_blurb title=”Vacancy rates trending down from 2013 to 2016, but have since leveled off.” use_icon=”on” font_icon=”%%36%%” icon_color=”#00457a” icon_placement=”left” content_max_width=”768px” use_icon_font_size=”on” icon_font_size=”26px” _builder_version=”3.27.3″ header_font=”|700|||||||” header_text_color=”#6b6b6b” header_font_size=”24px” header_line_height=”1.4em” custom_margin=”||0px||false|false” _i=”0″ _address=”0.5.1.0″][\/et_pb_blurb][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=”3.27.3″ custom_padding=”10px|||||” _i=”6″ _address=”0.6″][et_pb_column type=”4_4″ _builder_version=”3.27.3″ _i=”0″ _address=”0.6.0″][et_pb_text _builder_version=”3.27.3″ text_font=”|600|||||||” text_text_align=”center” text_text_color=”#474747″ text_font_size=”28px” text_line_height=”1.6em” header_font=”|800|||||||” header_text_color=”#003168″ header_font_size=”34px” header_line_height=”1.5em” header_2_font=”|600|||||||” header_2_text_color=”#474747″ header_2_font_size=”30px” custom_margin=”36px||||false|false” _i=”0″ _address=”0.6.0.0″]<\/p>\n

ABSORPTION, DELIVERIES & UNDER CONSTRUCTION<\/h1>\n

[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row column_structure=”1_2,1_2″ module_class=”align-ctr” _builder_version=”3.27.3″ border_width_bottom=”1px” custom_padding=”0px|||||” _i=”7″ _address=”0.7″][et_pb_column type=”1_2″ _builder_version=”3.27.3″ _i=”0″ _address=”0.7.0″][et_pb_blurb title=”Red Flag \u2013 Under Construction is at six year high significantly outpacing Absorption.” use_icon=”on” font_icon=”%%36%%” icon_color=”#00457a” icon_placement=”left” content_max_width=”768px” use_icon_font_size=”on” icon_font_size=”26px” _builder_version=”3.27.3″ header_font=”|700|||||||” header_text_color=”#6b6b6b” header_font_size=”24px” header_line_height=”1.4em” custom_margin=”||0px||false|false” _i=”0″ _address=”0.7.0.0″][\/et_pb_blurb][\/et_pb_column][et_pb_column type=”1_2″ _builder_version=”3.27.3″ _i=”1″ _address=”0.7.1″][et_pb_image src=”https:\/\/www.crossroadsappraisalgroup.com\/wp-content\/uploads\/2019\/12\/cross-graph-3vv.png” _builder_version=”3.27.3″ hover_enabled=”0″ _i=”0″ _address=”0.7.1.0″][\/et_pb_image][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=”3.27.3″ custom_padding=”10px|||||” _i=”8″ _address=”0.8″][et_pb_column type=”4_4″ _builder_version=”3.27.3″ _i=”0″ _address=”0.8.0″][et_pb_text _builder_version=”3.27.3″ text_font=”|600|||||||” text_text_align=”center” text_text_color=”#474747″ text_font_size=”28px” text_line_height=”1.6em” header_font=”|800|||||||” header_text_color=”#003168″ header_font_size=”34px” header_line_height=”1.5em” header_2_font=”|600|||||||” header_2_text_color=”#474747″ header_2_font_size=”30px” custom_margin=”36px||||false|false” _i=”0″ _address=”0.8.0.0″]<\/p>\n

TRANSACTION VOLUME<\/h1>\n

[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row column_structure=”1_2,1_2″ module_class=”align-ctr” _builder_version=”3.27.3″ border_width_bottom=”1px” custom_padding=”0px|||||” _i=”9″ _address=”0.9″][et_pb_column type=”1_2″ _builder_version=”3.27.3″ _i=”0″ _address=”0.9.0″][et_pb_image src=”https:\/\/www.crossroadsappraisalgroup.com\/wp-content\/uploads\/2019\/12\/cross-graph-4vv.png” _builder_version=”3.27.3″ hover_enabled=”0″ _i=”0″ _address=”0.9.0.0″][\/et_pb_image][\/et_pb_column][et_pb_column type=”1_2″ _builder_version=”3.27.3″ _i=”1″ _address=”0.9.1″][et_pb_blurb title=”Sales remain strong with 2019 on pace for 1,100 transactions.” use_icon=”on” font_icon=”%%36%%” icon_color=”#00457a” icon_placement=”left” content_max_width=”768px” use_icon_font_size=”on” icon_font_size=”26px” _builder_version=”3.27.3″ header_font=”|700|||||||” header_text_color=”#6b6b6b” header_font_size=”24px” header_line_height=”1.4em” custom_margin=”||0px||false|false” _i=”0″ _address=”0.9.1.0″][\/et_pb_blurb][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=”3.27.3″ custom_padding=”10px|||||” _i=”10″ _address=”0.10″][et_pb_column type=”4_4″ _builder_version=”3.27.3″ _i=”0″ _address=”0.10.0″][et_pb_text _builder_version=”3.27.3″ text_font=”|600|||||||” text_text_align=”center” text_text_color=”#474747″ text_font_size=”28px” text_line_height=”1.6em” header_font=”|800|||||||” header_text_color=”#003168″ header_font_size=”34px” header_line_height=”1.5em” header_2_font=”|600|||||||” header_2_text_color=”#474747″ header_2_font_size=”30px” custom_margin=”36px||||false|false” _i=”0″ _address=”0.10.0.0″]<\/p>\n

VALUATION HISTORY<\/h1>\n

[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row column_structure=”1_2,1_2″ module_class=”align-ctr” _builder_version=”3.27.3″ border_width_bottom=”1px” custom_padding=”0px|||||” _i=”11″ _address=”0.11″][et_pb_column type=”1_2″ _builder_version=”3.27.3″ _i=”0″ _address=”0.11.0″][et_pb_blurb title=”Cap rates up significantly from 2018 which has resulted in a slight value pullback. Valuation” use_icon=”on” font_icon=”%%36%%” icon_color=”#00457a” icon_placement=”left” content_max_width=”768px” use_icon_font_size=”on” icon_font_size=”26px” _builder_version=”3.27.3″ header_font=”|700|||||||” header_text_color=”#6b6b6b” header_font_size=”24px” header_line_height=”1.4em” custom_margin=”||0px||false|false” _i=”0″ _address=”0.11.0.0″][\/et_pb_blurb][\/et_pb_column][et_pb_column type=”1_2″ _builder_version=”3.27.3″ _i=”1″ _address=”0.11.1″][et_pb_image src=”https:\/\/www.crossroadsappraisalgroup.com\/wp-content\/uploads\/2019\/12\/cross-graph-5vv.png” _builder_version=”3.27.3″ hover_enabled=”0″ _i=”0″ _address=”0.11.1.0″][\/et_pb_image][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=”3.27.3″ custom_padding=”10px|||||” _i=”12″ _address=”0.12″][et_pb_column type=”4_4″ _builder_version=”3.27.3″ _i=”0″ _address=”0.12.0″][et_pb_text _builder_version=”3.27.3″ text_font=”|600|||||||” text_text_align=”center” text_text_color=”#474747″ text_font_size=”28px” text_line_height=”1.6em” header_font=”|800|||||||” header_text_color=”#003168″ header_font_size=”34px” header_line_height=”1.5em” header_2_font=”|600|||||||” header_2_text_color=”#474747″ header_2_font_size=”30px” custom_margin=”36px||||false|false” _i=”0″ _address=”0.12.0.0″]<\/p>\n

RENT TRENDS<\/h1>\n

[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row column_structure=”1_2,1_2″ module_class=”align-ctr” _builder_version=”3.27.3″ custom_padding=”0px|||||” _i=”13″ _address=”0.13″][et_pb_column type=”1_2″ _builder_version=”3.27.3″ _i=”0″ _address=”0.13.0″][et_pb_image src=”https:\/\/www.crossroadsappraisalgroup.com\/wp-content\/uploads\/2019\/12\/cross-graph-6vv.png” _builder_version=”3.27.3″ hover_enabled=”0″ _i=”0″ _address=”0.13.0.0″][\/et_pb_image][\/et_pb_column][et_pb_column type=”1_2″ _builder_version=”3.27.3″ _i=”1″ _address=”0.13.1″][et_pb_blurb title=”Despite slowing absorption, increased construction levels and vacancy rates leveling off, rental rates continue to grow approaching $26.00 per square foot.” use_icon=”on” font_icon=”%%36%%” icon_color=”#00457a” icon_placement=”left” content_max_width=”768px” use_icon_font_size=”on” icon_font_size=”26px” _builder_version=”3.27.3″ header_font=”|700|||||||” header_text_color=”#6b6b6b” header_font_size=”24px” header_line_height=”1.4em” custom_margin=”||0px||false|false” _i=”0″ _address=”0.13.1.0″][\/et_pb_blurb][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ _builder_version=”3.27.3″ fb_built=”1″ _i=”1″ _address=”1″][et_pb_row _builder_version=”3.27.3″ _i=”0″ _address=”1.0″][et_pb_column type=”4_4″ _builder_version=”3.27.3″ _i=”0″ _address=”1.0.0″][et_pb_social_media_follow _builder_version=”3.27.3″ _i=”0″ _address=”1.0.0.0″][et_pb_social_media_follow_network social_network=”twitter” _builder_version=”3.27.3″ background_color=”#00aced” follow_button=”off” url_new_window=”on” _i=”0″ _address=”1.0.0.0.0″]twitter[\/et_pb_social_media_follow_network][et_pb_social_media_follow_network social_network=”facebook” _builder_version=”3.27.3″ background_color=”#3b5998″ follow_button=”off” url_new_window=”on” _i=”1″ _address=”1.0.0.0.1″]facebook[\/et_pb_social_media_follow_network][et_pb_social_media_follow_network social_network=”google-plus” _builder_version=”3.27.3″ background_color=”#dd4b39″ hover_enabled=”0″ follow_button=”off” url_new_window=”on” _i=”2″ _address=”1.0.0.0.2″]google-plus[\/et_pb_social_media_follow_network][\/et_pb_social_media_follow][et_pb_comments _builder_version=”3.27.3″ header_font_size=”18px” custom_button=”on” button_text_size=”18px” button_text_color=”#ffffff” button_bg_color=”#0c71c3″ custom_margin=”0px||||false|false” custom_padding=”20px||58px|10px|false|false” custom_css_main_element=”border:1px #666 solid;” button_bg_enable_color=”on” _i=”1″ _address=”1.0.0.1″][\/et_pb_comments][\/et_pb_column][\/et_pb_row][\/et_pb_section]<\/p>\n","protected":false},"excerpt":{"rendered":"

3rd Quarter 2019 Office Report Office Market Summary Year to date 2019 results for the Atlanta office market are mixed: cap rates are up, average sales price is down, vacancies are flat and new construction is significantly outpacing absorption; however, rental rates continue to improve. Overall, the metro Atlanta office market remained strong through the […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"on","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[18],"tags":[20],"_links":{"self":[{"href":"https:\/\/www.crossroadsappraisalgroup.com\/wp-json\/wp\/v2\/posts\/959"}],"collection":[{"href":"https:\/\/www.crossroadsappraisalgroup.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.crossroadsappraisalgroup.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.crossroadsappraisalgroup.com\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.crossroadsappraisalgroup.com\/wp-json\/wp\/v2\/comments?post=959"}],"version-history":[{"count":11,"href":"https:\/\/www.crossroadsappraisalgroup.com\/wp-json\/wp\/v2\/posts\/959\/revisions"}],"predecessor-version":[{"id":1248,"href":"https:\/\/www.crossroadsappraisalgroup.com\/wp-json\/wp\/v2\/posts\/959\/revisions\/1248"}],"wp:attachment":[{"href":"https:\/\/www.crossroadsappraisalgroup.com\/wp-json\/wp\/v2\/media?parent=959"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.crossroadsappraisalgroup.com\/wp-json\/wp\/v2\/categories?post=959"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.crossroadsappraisalgroup.com\/wp-json\/wp\/v2\/tags?post=959"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}