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Atlanta is the ninth most populated metropolitan area in the United States with a population of 519,145. Recently, Atlanta has switched from a regional commerce center to a more internationally based center for commerce. This has made Atlanta the fastest growing metropolitan area in the nation by growing by 20.5% between 2000 and 2006. Atlanta’s largest employer is Delta Airlines, which operates out of the world’s largest airline hub, which has served as a key element in Atlanta’s economic growth.

Atlanta is considered a Gamma world city for having the third highest number of Fortune 500 company headquarters calling Atlanta Office Space home. Some of these companies include Coca-Cola, Home Depot, and AT&T Mobility. All of these large corporations employ a large amount of people and stimulate the surrounding economy by their need for office space and job creation in Atlanta.

In the first quarter of 2008, vacancy of office space in Atlanta has gone up but remained relatively unchanged from the fourth quarter of 2007. The Atlanta office space vacancy rate is approximately 18.6%. Absorption of office space in Atlanta has stayed pretty constant but has still managed to decrease slightly throughout first quarter. Atlanta Office space for lease absorption has only averaged about 71,260 square feet peer quarter over the last couple of years. If you are looking for an investment, Atlanta Office space for sale is relatively easy to find.

On the contrary to the less than preferable statistics, construction of office space in Atlanta and the rental rate for office space in Atlanta has gone up and will remain steady in the next couple of months. There is 162,467 square feet of Atlanta Office Space under construction in the first quarter of 2008 and the average Class A office space rental rate is running at about $20.84 per square foot. The submarketin Atlanta is also doing very well, mostly because American Express absorbed the second highest amount of Class A office space in Atlanta.