Atlanta Office & Commercial Space
The city of Atlanta features a residential population of approximately 450,000 inhabitants and is currently the largest city and the capital of the state of the Georgia. The Atlanta metropolitan area, which includes the city of Atlanta and countless other satellite cities and communities, features an impressive 5.5 million residents, making it the ninth-largest metropolitan area in the United States. With an abundance of cultural and economic opportunities on hand, Atlanta provides tourists, locals and business owners with the ability to explore a variety of interests and niches. Rental properties in Atlanta, including office and commercial spaces for rent, are readily available in both the city proper and the plethora of communities within the larger metropolitan area. The countless neighborhood zones of Atlanta host a broad spectrum of commercial interests, including retail shops, larger commercial development, financial centers, manufacturing enterprises and office spaces, among others.
Atlanta Economic Overview
The median household income levels in Atlanta are approximately $46,000, fractionally below state averages. Although it may seem surprising that the city of Atlanta does not significantly overshadow the state in terms of wealth levels, it is important to remember that the vast majority of the area’s wealthy elite choose to live in affluent suburbs outside of the city proper. These individuals often commute into and out of Atlanta on a daily basis for their chosen profession. Common occupations for residents of Atlanta include positions in industries such as the professional, scientific and technical services, engineering, manufacturing, education and healthcare, among others. Atlanta also hosts a number of colleges and universities, which are significant source of employment for trained professionals. Currently, the Atlanta metropolitan area is considered the eighth-largest economy in the country and the sixteenth-largest economy in the world. That being said, the city has been severely impacted by the aftermath of the 2008 financial crisis. Currently, unemployment levels in Atlanta are markedly above both state and national averages.
Atlanta At A Glance
In addition to a diverse and abundant economic infrastructure, Atlanta offers visitors and locals alike a wide assortment of cultural and sporting attractions. Some of the more notable museums and performance spaces in the area include the High Museum of Art and the Museum of Design Atlanta. Atlanta is one of few cities in the United States to currently host resident companies in each of the primary performing arts disciplines, including ballet, music, opera and theatre. The Atlanta Symphony is considered by many to be one of the country’s premier orchestras, and has attracted some of the world’s most renowned soloists and performers. The vast majority of fine arts activities in Atlanta take place at the Woodruff Arts Center, located in Midtown Atlanta.
Many professional sports teams can also be found here, including the Atlanta Braves (baseball), the Atlanta Hawks (basketball), and the Atlanta Falcons (football). Due to the size and prestige of the city, Atlanta was also selected to host the Olympic games in 1996. Depending upon the time of year that a tourist decides to visit Atlanta, they may be able to enjoy one or more sporting events.
Atlanta’s history can largely be thought of as existing within two distinct sections: development that occurred prior to the Civil War, and events following the Reconstruction period which occurred immediately after the end of the Civil War. Thanks to an extensive rail network, Atlanta was able to quickly rebound in the aftermath of the Civil War, and surpassed Savannah in terms of population in 1880. By the arrival of the 20th century, Atlanta was experiencing an economic boom that was driven primarily by savvy investors and an abundance of infrastructure which made development here both easy and immensely profitable. The city played a formative role during the Civil Rights Movement of the 1960s, and was frequented by Dr. Martin Luther King, Jr. Today, the city has initiated a cultural renaissance, hoping to elevate its status as a hub of innovation and creative thinking by promoting excellence in the arts and technology. The abundance of university graduates and professors living and working within the city of Atlanta has helped this area develop in tandem with its stated goals.
The population of Atlanta is quite diverse, featuring substantial populations of African Americans, White Americans and Asian Americans. Due to the large international student body that arrives each year to study in any one Atlanta’s prestigious higher education institutions, the city’s demographics are becoming increasingly diversified. According to a recent article by Atlanta magazine, the influx of immigrants to the city and the increasingly cosmopolitan atmosphere found here have served to “de-Southernize” this historic city. Atlanta is now also becoming recognized for hosting one of the largest LGBT populations in the country.
Trends of Atlanta
As stated previously, Atlanta continues to evolve at a staggering pace. Over the course of the past several decades, Atlanta has reinvented both its social fabric and its economic infrastructure. The city remains a bastion of history and Southern culture, but it has also deliberately turned its eyes to the future, investing in the arts, technology and other in-demand industries in an effort to attract the world’s top talent. As the city continues to develop, it is expected that rental prices will continue to rise. That being said, the available economic opportunity found here may justify these expenses in many business owners’ minds.
Where to Lease in Atlanta
The downtown region of Atlanta is currently home to a vast array of businesses, including retail shops, restaurants, business centers, financial offices and other corporate headquarters. Because of this, it is highly recommended that business owners seeking to remain competitive within this large market position themselves in such a way as to secure maximum visibility. Manufacturing-related businesses may find that their interests are better served outside of Atlanta proper, due to an increase in available space and lower rental rates. The suburbs existing within the Atlanta metropolitan area also offer business owners many additional rental opportunities.
Learn More About Atlanta
Real time and historical data on commercial real estate listings in Atlanta.