Atlanta's economy continues to thrive thanks to its ability to evolve with the times. The Midtown submarket of Greater Atlanta demonstrates this point with its continually forward-looking perspective that isn't afraid to reinvent itself. This ability is what makes Midtown such an appealing choice for companies as well as employees looking for the ideal work/live/play balance.
TenantBase’s local real estate advisors are well-versed in the many strengths that make Midtown one of the most attractive submarkets in the entire MSA. Our extensive experience and expertise in the Midtown commercial real estate market can help locate office space that suits your goals and drives your business towards a prosperous future.
Office Space and Midtown Atlanta
The law firms that traditionally gravitated towards Midtown are stepping aside for a tremendous influx of enterprises from the technology sector. That surge in popularity gives the submarket the lowest vacancy rate in the entire Atlanta MSA at just 9%. There is no indication of that intense demand for inventory relenting anytime soon as the over 1 million sq ft vacated by AT&T and the 2 million sq ft under construction are almost entirely pre-leased.
Companies will find a mix of Class A office space along with the largest inventory of technology and incubator space in the entire Atlanta market. Coworking in Midtown also has the biggest footprint of any submarket in the region. The average square footage is 3,800 sq ft with rents pushing upwards to $36/sq ft.
Parking continues to be tight in Midtown but is improving due to alternative transportation options as well as an increasing amount of people both working and living in the area. These trends will continue going forward, particularly with the prevalence of mixed-use developments that are attracting younger generation workers into Midtown.
Working in Midtown Atlanta
The Midtown submarket leads the entire region in alternative transportation options. The MARTA rail lines are extremely popular with the area’s workforce and a pervasive tech-driven perspective makes innovative alternatives like Bird and Lime common choices for Midtown commuters.
A healthy and satisfying combination of work and lifestyle continues to be the primary driver for attracting Atlanta's massive talent pool towards Midtown, much of that talent pool stemming directly from nearby Georgia Tech. Local amenities like the vast green spaces provided by Piedmont Park as well as numerous mixed-use developments draw millennials into Midtown companies better than any submarket within the Atlanta MSA. Projects like Atlantic Station continue to mature and refine their appeal to critical demographics that Midtown businesses thrive on.
Midtown has done a remarkable job maintaining a forward-looking perspective and embracing industries that propel it with dynamic growth and innovation. These characteristics are what make Midtown highly attractive to the millennial segment of the workforce and why it's commercial real estate market is so competitive and robust. TenantBase has the insight and experience to help your company find office space in this thriving submarket and take advantage of Midtown's relentless economic growth.