Atlanta, GA
Q1-2024 Market Report Reveals Insights About Downtown Atlanta
Downtown Atlanta showcases a dynamic blend of growth and resilience across various real estate market sectors and quality-of-life elements. As more employees return to the office and big events like the 2026 World Cup hover in the future, it’s more important than ever to be informed about the current state of our city center. The Q1-2024 Downtown Market Report provides exclusive insights into the current trends in office, hotel, retail, and multi-family housing markets, combined with data-driven updates on visitation and crime.
Keep reading to discover four key takeaways that summarize the quarter’s market performance.
- Office Market Rent Growth and New Leasing Activity Amid High Vacancy Rates
Downtown Atlanta’s office market showed resilience with rents surpassing pre-pandemic levels by more than 10% compared to Q1-2019. The vacancy rate remains high, reflecting ongoing adjustments in the market due to remote work policies. Despite office market challenges, there were 43,844 square feet of direct leases and a net absorption of 6,324 square feet, an improvement from the negative absorption reported in Q1-2023. - Higher Asking Rents and Upcoming Retail Openings
Downtown Atlanta’s retail market asking rents reached $34.13 per square foot, an 81% increase from Q1-2019. Despite a vacancy rate of 8%, the market saw six direct leases. Upcoming retail establishments like Butter + Scotch, Mendoza Cafe y Vino, and SKOL Brewing Company are set to enhance Downtown’s retail landscape. - Impressive Visitation Trends in Downtown
As detailed in the Q1-2024 Downtown Market Report, visitation continues to improve from low post-pandemic levels with over 18.6 million visits to Downtown Atlanta. Downtown welcomed 14 million non-employee visits and 4.6 million employee visits. In Q1-2024, employee visitation rose by 106% and 52% compared to Q1-2021 and Q1-2022. - Reduction in Incidents alongside Impactful Safety Improvements
In Q1-2024, there were 486 crime incidents, which marks an 11% decrease from Q4-2023. Most incidents were non-violent crimes, particularly theft from vehicles, which comprised 67% of total incidents. However, installing cameras in high-theft areas led to a significant 68% reduction in theft from vehicle incidents.
Ready to get all the facts? Click here to view the Q1-2024 Downtown Market Report.
The Georgia Department of Transportation announced that a major weekend construction project, set to fully shut down two miles of I-285, has been postponed due to inclement weather. Atlantans are relieved, with many looking forward to more freedom to travel this Mothers’ Day weekend. Kim Leoffler has the story.
ATLANTA – An Atlanta flight attendant and mother of eight is among 17,000 Spirit Airlines workers struggling to find a new “destination” after the carrier suddenly shut down.
Spirit Airlines Atlanta impact
What we know:
Spirit Airlines ended all operations on Saturday, grounding its entire fleet and ending employment for its 17,000-person workforce. Flight attendants and customers were stranded across the country, often forced to pay for their own travel home after the discount carrier ceased operations.
Kamille Carter, an Atlanta-based flight attendant of five years, said she received the termination email from the CEO at 3 a.m., despite earlier assurances from union representatives that the company was stable. The company immediately cut healthcare benefits and stopped payments for sick leave and vacation time for all staff members.
Unpaid wages and benefits
What we don’t know:
It is unclear if Carter and her fellow employees will ever receive their final paychecks or if there is any legal recourse for the lost benefits. The company has not specified if any transition assistance will be provided to workers, some of whom had been with the airline since it launched in 1994.
Employee reaction in Georgia
What they’re saying:
“This is a death because you have to mourn, you have to grieve, it’s a process,” Carter said of the sudden job loss. Despite the financial strain of supporting eight children, Carter is looking toward her passion for cooking as a potential new career. She noted that while being uncomfortable is difficult, it can “push you to your destiny.”
Finding help in Atlanta
What you can do:
Community members looking to support Carter and other local workers affected by the shutdown can find more information on the FOX 5 Atlanta website. The station is collecting resources for those navigating the sudden loss of income and healthcare.
The Source: The information in this story was gathered from an interview conducted by FOX 5 reporter Eric Perry, who spoke directly with former flight attendant Kamille Carter in Atlanta. Previous FOX 5 Atlanta reporting was also used.
The search for missing 16-year-old Benjamin Braithwaite is over. Atlanta police announced just before midnight Thursday that he had been located, more than a week after he vanished from his Regency Trace home.
The department shared the update on social media but did not release additional details about where he was found or the circumstances surrounding his recovery.
Braithwaite had been missing since the night of April 27, when he was last seen around 9 p.m. at his home in Atlanta. His family said they had no contact with him during the entire time he was gone.
The disappearance of the KIPP Atlanta Collegiate High School sophomore and basketball team member had galvanized the Atlanta community. His family, teammates, Atlanta police officers and neighbors gathered at the school last week to raise awareness about his disappearance. Hartsfield-Jackson Atlanta International Airport, where his mother works, joined the search effort — asking the public to watch for him at MARTA stops and fast food restaurants.
A $10,000 reward had been offered for credible information leading to his safe return.
“Even small details matter. Your awareness could make the difference,” the airport wrote in an Instagram post earlier this week.
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