Let’s look at rent prices per square foot for office space in Fulton, Gwinnett, Cobb, and Dekalb counties. Below are charts depicting those regions’ rent prices for the past 20 years.
Rent per square foot data from CoStar Group
Office rent prices seem to be more erratic than retail rent prices in each county. Though each county has seen only about a $10.00 increase in price per square foot since the beginning of the century, the prices appear to be less stable over time than the retail rent prices for each respective county. The office rent prices have changed a lot more than the retail rent prices over the years, but both were trending up long before the COVID-19 pandemic began. Again, it is important to continue monitoring these rent prices to see how the pandemic affects office rent.
If you have not read the “Atlanta Retail Rent Prices by County” article yet, be sure to check it out to see how retail and office space rent prices compare in Atlanta and the surrounding areas!