Atlanta:
Population & Landmark…
Atlanta is located in the northern half of Georgia known as the Piedmont. The city is the capital and the most populous city of the US state of Georgia. Atlanta has a population of just under 500000 and is the ninth most populated metropolitan area in the US with over 5 million people.
During the Civil War, Atlanta served as an important railroad & military supply hub. In 1864, the city became the target of a major Union Invasion, which destroyed the city. Despite this, Atlanta was rebuilt gradually and became a newly freed slave’s city. In the 1960s, Atlanta was a major organizing center of the US Civil Rights Movement, with Dr Martin Luther King.
Notable landmarks along North Avenue include the Bank of America Plaza, The Varsity, Georgia Tech, and the world headquarters for Coca-Cola.
Economy…
Atlanta ranks third in the number of Fortune 500 company headquarters within city boundaries, behind NYC and Houston.
Several national and international businesses are headquartered in Atlanta, including The Coca-Cola Company, which was founded in the city. While the Coca-Cola Company wields considerable influence in Atlanta, much of it in areas outside its immediate manufacturing concerns, no single industry or firm truly dominates the local economy. Trade and manufacturing are also important elements to the city’s economy.
Having such diversity, Atlanta has been slower to suffer a downturn and quicker to recover from any temporary setback than many other major American cities. Between 2000 & 2006, the metropolitan area grew by 20.5% making it the fastest growing metropolitan area in the United States.
Office Rental Levels…
According to Costar Group, the metropolitan Atlanta office market consisted of 182.4 million square feet of class A, B and C non-owner-occupied inventory in 2270 buildings at year end 2007. Approximately 3.24 million square feet of net absorption occurred year-to-date in 2007, with rental rates averaging $20.50.
Metrowide, the first quarter 2008 overall vacancy rate for the Atlanta office market was 16.5%, unchanged from first quarter 2007. 2008 year-to-date net absorption was negative 367000 square feet, down from 601000 in first quarter 2007, clearly showing a slow start of the year. This number was greatly affected by the delivery of 4.2 million square feet of new space into the metro Atlanta office market in 2007, the highest amount since 2001.
The Downtown submarket posted 228000 square feet of net absorption at the close of first quarter 2008, the highest of all submarkets in metro Atlanta for the second quarter in a row, overcoming a seven-year trend of flat negative net absorption.
Quoted full-service rental rates averaged $20.09 for all classes metro-wide, but as landlord concessions continue to increase, rental rates should remain flat in 2008, as per Carter office market report.
Transport…
Atlanta Airport, the Hartfield-Jackson, is located 9 miles south of the city. It is the busiest airport in the world, serving around 85 million passengers annually. International flights to Europe as well as other cities in the United States are leaving on a daily basis.
In Midtown, the Amtrak Crescent rail service links Atlanta with New Orleans, New York and Washington DC. There are daily departures to all 3 destinations.
Tourism, Attractiveness of the city…
Atlanta hosts a variety of museums on subjects ranging from history to fine arts, natural history and beverages.
Atlanta features the world’s largest aquarium, The Georgia Aquarium. The new World of Coca-Cola, opened adjacent to the Aquarium in May 2007, features the history of the world famous soft drink brand.
Atlanta is also a city with an array of championship events. You can always find a sporting event within the city including baseball with the Atlanta Hawks, football with the Atlanta Falcons, hockey with the Atlanta Thrashers and many more.
Useful Links:
Atlanta Guide: www.cityguide.travel-guides.com
Chamber of commerce: www.metroatlantachamber.com
City Council: www.atlantaga.gov
