Downtown Atlanta serves as the city’s Central Business District and houses many of Atlanta’s financial institutions, television networks, and Fortune 500 companies. Despite its busy office culture, Downtown Atlanta offers a variety of parks and fountains for workers to enjoy a reprieve from the busy work day. Think lunchtime concerts at the Centennial Olympic Park’s Fountain of Rings, or a stroll through Martin Luther King, Jr. National Historical Park.
Large corporations such as SunTrust Bank, Marsh and McLennan Companies, the American Cancer Society, and Bank of America are based out of Atlanta’s Downtown area, as are many established and reputable mid-size firms. Given the available inventory of desirable Class A office space and the easy transportation options, Downtown Atlanta appeals to a range of businesses.
Downtown Atlanta Office Space | Lease Data & Trends
Across all building classes, the average Downtown Atlanta office space leases for around $27 per square foot, and nearly 90% of Downtown’s inventory is Class A. These are significantly cheaper than average asking rents in the rest of the Atlanta CBD. However, Atlanta’s Downtown submarket is driving rent increases across the Central Business District, with 2018 asking rents up a staggering 20.5% year-over-year. With a vacancy rate of around 20%, above the city average of 17.9%, there’s plenty of available spaces to choose from.
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What Our Brokers Say About Downtown Atlanta Office Space for Rent
Offices in Atlanta’s Downtown neighborhood enjoy a range of convenient public transit options. Most employees who commute to Downtown for work take advantage of MARTA, Atlanta’s rapid transit rail system. On average, MARTA’s buses, trains, and assisted-transit vehicles shuttle 420,000 passengers to and from the city suburbs to the city center for work each day. The most popular MARTA stop in Downtown Atlanta is the Peach
The neighborhood is perhaps best known for its nexus of Fortune 500 companies. Coca-Cola’s Company Headquarters is located in Downtown Atlanta, occupying its own plaza. The towering office building offers employees quick access to a variety of nearby dining options including WingNuts, The Varsity, and Pemberton Cafe. Other Fortune 500 headquarters in Downtown Atlanta include The Home Depot, Southern Company, Delta Airlines, and UPS. Downtown is also a popular choice for communications and broadcasting companies including, Cox Communications, CNN/Turner Broadcasting, and Time Warner.
Many commercial office spaces line Peachtree Street NE, making it a spine for Atlanta’s busy Downtown corridor. Popular buildings for Financial District office space include 100 Peachtree, 101 Marietta, Bank of America Plaza, Citizens Trust Building, the Candler Building, the Commerce Building, and the International Tower.
Five Points is another Downtown area filled with available office space. Located near the serene Centennial Olympic Park, Five Points is an east downtown area known as a longstanding commercial district. The area is popular with mid-size, up-and-coming firms, as the neighborhood carries a hip, alternative vibe. Described by some as Atlanta’s “Haight-Ashbury,” employees who work in Five Points enjoy a fusion of sub-cultures and edgy eateries for after-hours happy hours and dinners.
Getting Around Downtown Atlanta
In addition to Atlanta’s popular MARTA railway option, Downtown commuters have access to a modern streetcar loop. As the city’s newest public transportation installment, the new streetcar provides quick passage from work to home on a central 2.7 mile loop. Popular downtown stations include: Carnegie at Spring, Centennial Olympic Park, Luckie at Cone, Peachtree Center, Woodruff Park, and Park Place.
Commuters also enjoy bike share options. With Relay Bike Share hubs located along Downtown’s corridor, it’s easy for commuters to travel to and from work by bike. Both Edgewood Ave and Auburn Ave are popular thoroughfares for bikers and pedestrians.
Get to Know the Neighborhood
Located in the heart of Atlanta, Downtown began to take shape in the mid 1800’s when the Western & Atlantic Railroad decided to locate the southern end of the rail’s tracks in Atlanta. Originally known as Terminus, the Downtown area didn’t start to evolve into a cosmopolitan business center until the 1900s.
The Downtown area developed by the late 1920s, creating a grid of business corridors that still stand today. Today, Downtown Atlanta is bound by North Avenue to the north, Interstate 20 to the south, Boulevard to the east, and Northside Drive to the west. Within this broader Downtown district, you’ll also find smaller, micro neighborhoods including, the Hotel District, Five Points, Fairlie-Poplar, and Castleberry Hill.
Downtown Atlanta is filled with parks and attractions for office workers to enjoy after hours. Many locals and visitors alike take advantage of the neighborhood’s Woodruff Park. This 6-acre holds the iconic Phoenix Memorial and popular art. Downtown also holds the 21-acre Centennial Olympic Park, which was constructed for the 1996 Olympic Games. The sprawling park’s claim to fame is that it’s the largest downtown park to be developed in the past 25 years in the United States.
Other popular attractions in Atlanta’s Downtown area include the Georgia Aquarium, which has been listed as one of the “1,000 Places to See Before You Die,” and The World of Coca-Cola. There’s also plenty to eat and drink in Downtown Atlanta, so if you want a break from the stresses of work, check out Home grown GA Restaurant’s retro diner, Aviva by Kameel’s mediterranean fare, and Aria’s elegant dining room.