Atlanta Office Market

According to CoStar Group, the metropolitan Atlanta office market consisted of 182.4 million square feet of Class A, B and C non-owner-occupied inventory in 2,270 buildings at year end 2007. Atlanta’s Class “A” sector included 382 projects with 88.9 million square feet of space; the Class “B” sector contained 1,474 projects totaling approximately 80.4 million square feet of space; and the class “C” sector consisted of 404 projects totaling 13 million square feet of space. The overall metro Atlanta class A, B and C vacancy rate decreased from year-end 2006 to 16.3 percent. Approximately 3.24 million square feet of net absorption occurred year-to-date in 2007, with rental rates averaging $20.50.