After publishing its 2025 Atlanta Office Investment Forecast Report, Marcus & Millichap’s John Leonard commented, “Atlanta’s office market is at a turning point, with corporate expansions and investor confidence driving renewed momentum. As vacancy rates decline and demand for high-quality office space strengthens, the metro is well-positioned for growth in 2025.”  Insights include: 

• Atlanta’s employment market will expand by 27,000 jobs in 2025, with 2,000 new office-using roles, supporting long-term leasing demand. 

• Vacancy rates are projected to decline to 19.4%, driven by corporate expansions and reduced new supply. 

• Office construction will slow to its lowest level in a decade, with inventory growing by 0.4%, primarily in Midtown, Sandy Springs and Alpharetta. 

• Northwest Atlanta and Northlake stand out as investment opportunities, with triple-digit vacancy declines and rent growth exceeding 1% in 2024. 

The average asking rent will rise to $27.52 per square foot, supported by falling vacancy rates and a limited construction pipeline. 

Demolition has begun on a closed car dealership to pave the way for a seven-tower mixed-use development called MidCity Nashville.

GBT and investment firm Monarch Alternative Capital are leading the development of MidCity Nashville.

The first phase of the mixed-use development would include four towers surrounding a central pavilion. Plans include adding a new street that will run through the center of the Midtown site, connecting McGavock Street and Broadway. The project’s second phase would offer three additional towers surrounding a pedestrian plaza and two more pavilions.

MidCity Nashville will offer residential, retail and office space, and a hotel could be included in the development.

The buildings range in height from 20 stories to 35 floors.

The Nashville Business Journal reports that in December 2021, GBT Realty paid $110 million for the Midtown site that was once home to Beaman’s auto dealership.

The Midtown development’s project team includes Gensler and the Nashville office of CBRE.