Buckhead’s Bright Future: Key Highlights from Q4
As Buckhead transitions into 2025, signs of growth and opportunity are emerging across the submarket. While the overall vacancy rate rose slightly to 26.5% in Q4, leasing momentum highlights a promising future. South State Bank’s significant 87,000-square-foot lease in Prominence Tower was one of the largest deals of the quarter, contributing to a year that saw twice as many large-scale leases (over 50,000 square feet) signed compared to 2023.
Notable properties such as One Phipps Plaza, with its blend of Class A office space and luxury amenities, underscore Buckhead’s ability to attract high-value tenants. Novelis, a global leader in aluminum rolling and recycling, has taken up 90,000 square feet in this landmark development. The inclusion of features like coworking spaces, a fitness center, and fine dining elevates the appeal of these premier locations.
Rental rates have remained stable, with overall asking rates at $37.03 per square foot and Class A space commanding $37.85 per square foot. This consistency reflects the submarket’s resilience and appeal to high-profile tenants seeking prestige and access to top-tier facilities.
While the vacancy rate remains elevated, recent leasing activity, combined with Buckhead’s reputation for offering premium office environments, positions the area for occupancy gains in 2025. These positive indicators, alongside steady economic fundamentals, demonstrate that Buckhead remains a desirable and dynamic business hub.
For businesses and investors, Buckhead’s trajectory is clear: a market poised for growth with opportunities to secure prime space in one of Atlanta’s most sought-after locations.
