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New York City’s record for the highest rent per square foot was broken when a hedge fund agreed to pay $300 per square foot (the average is $80), renewing hope for developers across the country.
A CBRE research report focusing on the tech industry shows Atlanta offers lower-than-average office rents, making it attractive for tech employers. The report showed average rents for Atlanta were $21.28 in Q2, yet rents in Buckhead and Old Fourth Ward are climbing to the $30s and $40s.
Atlanta probably won’t see $300 rents, but the tech office market will take our average to new heights.
– Sarah Funderburk, SPR Atlanta