Amid ongoing economic turbulence, leasing volume accelerates to pre-pandemic levels to start the year

Leasing activity for the Atlanta office market surged in the first quarter of 2024, despite ongoing economic turbulence. In Q1, leasing volume totaled 2.4 million square feet (msf), aligned with the pre-pandemic average. This uptick marks a 71% increase year-over-year and a 20% increase on the quarter. Notable renewals by Manhattan Associates and Workday Inc. attributed to the rise in leasing. Sizeable renewals this quarter indicate that tenants remain committed to Atlanta’s resilient market. As Atlanta moves closer towards returning to pre-pandemic norms, expect the metro to remain a highly desirable market with robust demand due to its broad foundational industry base, lower cost of living, and ever-growing diverse talent pool.

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