Office Space for Rent in Alpharetta, GA
Situated in Fulton County, Alpharetta is a suburb north of Atlanta. This city is a central tech hub in the state and is home to a bustling commercial real estate market for businesses in several industries. Alpharetta’s employment centers include tenants of Fortune 1000 and Fortune 500 companies, making it a prime area for office rental space.
Today, Alpharetta features tenants from some of the largest companies in the country, including:
Alpharetta is a leading city in tech development. So, if you are looking for office space for rent, Alpharetta is an excellent choice. Contact us to learn about office space in Alpharetta for your company.
Alpharetta Office Space – Lease Data & Trends
Alpharetta’s average office price per square foot was $25.79 as of 2020. This decline is after a 1.45% positive change in rental prices since 2019. In that same year, the average vacancy rate in the real estate market was 17% across all industries and building classes.
Like most of the commercial real estate market in the country, Alpharetta rental prices dropped significantly due to the coronavirus pandemic, yet experts expect it to rebound in the following year. Moreover, Alpharetta is home to over 20 million square feet of office space for businesses of all sizes.
What Our Brokers Say About Alpharetta Office Space
Overall, Alpharetta saw $62 million in real estate transactions in 2020, the largest of which was for nearly $20 million. There has also been a massive construction boom in Alpharetta in the past two years, with office construction jumping nearly 50% in 2019 and falling slightly in 2020.
As of 2020, total square footage for North Fulton office space grew by 430,000 square feet, with an average size of 75,000 square feet per office space. The newest additions to the commercial real estate market in 2021 include:
Moreover, Alpharetta is home to a dedicated technology sector that has experienced great growth in the past five years. Major tech players have a stake in the area, and an emerging financial sector will improve economic conditions further.
Overall, future projections for the Alpharetta region are optimistic. As companies come back to the office after the pandemic, rental prices will rise along with demand. Alpharetta’s commercial real estate market is a good choice for establishing headquarters.
Top Commercial Buildings in Alpharetta
11175 Cicero Drive: 11175 Cicero Drive is one of the two office buildings that make up Milton Park. This 6-story building has over 150,000 square feet and offers several move-in-ready suites with high-end finishes. It is in a great location situated adjacent to the Big Creek Greenway, a popular spot for walking, running, and biking.
3625 Brookside Parkway: Located in Brookside office park is 3625 Brookside Parkway. In a recent renovation focused on improving the building amenities, upgrades were made to include a tenant lounge, outdoor terrace area, and conference center. This 5-story Class A offers both smaller move-in ready suites as well as larger full floor opportunities.
2300 Lakeview Parkway: This building features a variety of office space availabilities ranging from 2,000 square feet to full-floor opportunities. The area contains a lake-front trail and is located a short drive away from the Avalon.
Get to Know Alpharetta
The Georgia government chartered Alpharetta back in 1858 to serve as the seat of Milton County. The area has a long history of commerce as it was originally a trading post for settlers to trade goods with one another.
Alpharetta is now a major hub for tech and innovation in the state. Tech Alpharetta is an advisory board made up of tech executives in the area and functions as a startup incubator. Ten companies in 2020 graduated from this program and are currently hiring in the city.
Alpharetta is also home to a large farmer’s market, shopping centers, and a Historic District located right in the heart of the city. There are plenty of amenities for businesses and employees to enjoy, and the city has a high walkability score for foot traffic.
Why Rent Office Space in Alpharetta?
Alpharetta features a growing real estate market with high construction rates and an increased tech presence. Despite downturns in rental prices and vacancy rates over the past year, Alpharetta is poised to make a recovery in the coming year.
Moreover, Alpharetta has shown incredible growth over the past five years as a powerful emerging tech market. Competitive rental prices and a growing economy are all excellent reasons to consider renting private office space in Alpharetta.
Nearby Submarkets to Set Up Office Space
Buckhead: Buckhead is the shopping mecca of Atlanta and features a large number of shopping centers and high-end boutiques. Asking prices for rental space in Buckhead are actually the highest in the Atlanta metro area. Nearby neighborhoods constitute some of the most prime commercial real estate in Georgia.
Midtown: Midtown is the commercial hotspot of Atlanta and features the largest business district, only second to Downtown. Midtown contains 19 million square feet of private offices and shared offices, along with a bustling entertainment district full of shops, bars, boutiques, and more.
Downtown: Downtown Atlanta is the single largest business district in the city and houses many large financial institutions, tech companies, and television networks. Several Fortune 500 companies, including SunTrust, McLennan, Coca-Cola, and Bank of America, base their operations in the downtown neighborhood.
Marietta: Marietta is the hub of Cobb County and part of the larger Atlanta-Marietta metropolitan area. Marietta is a top living destination in the state and is home to a bustling commercial real estate market in the financial and industrial sectors. Marietta is the second largest tourist destination in the state, so there are plenty of opportunities to set up shop.
If you are looking for Alpharetta office space, contact us today to explore options for your business.