Atlanta Office Market Sees Surge In Activity, But Vacancy Keeps Rising

Companies in Atlanta leased more office space in the first quarter of 2024 than at any point since 2021, according to new data from Savills. It was the busiest first quarter in five years, but the record amount of vacant space on the market continues to rise.

There were 2.4M SF of Metro Atlanta office leases signed in the first three months of the year, 71% more than in Q1 2023, per Savills. Nevertheless, office availability including sublease space in the region increased to 29.6%, up from 27.7% a year earlier.The increase in…

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WeWork Says 'Majority' Of Rightsizing Is Done, Sets May Target To Exit Bankruptcy

Coworking giant WeWork has determined its path forward on 90% of its approximately 500 global locations and is working to emerge from Chapter 11 bankruptcy in the U.S. and Canada by the end of May, it said in a release Tuesday.

The company said it reached agreements with landlords to amend 150 leases, although some of the contracts have yet to be executed, and it will maintain its leases at another 150 locations without changes to lease terms. Another roughly 150 locations will be shuttered through lease rejections or exits negotiated with…

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Newmark: $2T In Debt Maturing By 2026, $670B Of It 'Potentially Troubled'

Banks will be squeezed over the next three years to cut their exposure to commercial real estate as an estimated $2T in CRE debt matures. Newmark estimates that $929B of that $2T will come due this year alone, the Financial Times reported. If they can't be repaid, those loans will need…

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