Ellen Stern, senior vice president with CBRE's advisory and transactions occupier group in Atlanta, remarked, "We don't talk about return-to-office anymore. People are back (in the office) culturally in Atlanta." This sentiment indicates a shift in the corporate mindset, highlighting a cultural reintegration into the office setting rather than merely a physical return.
Real estate services firm Avison Young noted that the average size of an office lease at the end of September was 60% larger than the same time last year, showing a significant uptick in leasing activity in metro Atlanta. This change contrasts with the previous trend of companies downsizing their office spaces post-pandemic.
Metro Atlanta has seen at least 11 office leases of at least 100,000 square feet signed this year, reflecting a growing demand for office space despite previous trends of companies reducing their footprints in response to the pandemic's remote work trends.
Despite a slight decline in unwanted office space, about a third of metro Atlanta's office space remained available at the end of September. Experts suggest that this improvement is a nascent sign of optimism in the corporate real estate market, even as there are still challenges ahead.
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