Let’s look at the office vacancies in Fulton County. The vacant square footage, and therefore the vacancy rates, for Fulton County office space are more stable than those of retail space. Office space has had less of an increase in vacancies than retail has since 2000. It will be interesting to see how these numbers change in the coming years after Coronavirus, as many companies may decide to downsize their rented space to save money, realizing remote working can be safer and just as effective.
Below is a graph depicting the sublet vacancy rates for Fulton County. Office sublet vacancies have greatly decreased since the beginning of the century. There has been a slight increase in vacancies in the past few years, but the change is less than 1%. I don’t believe the pandemic has caused this increase, but as always, keep an eye on this metric to see how to COVID-19 really affects office space in Fulton County.
All data from CoStar Group