But Atlanta sized up favorably with comparable cities, such as Dallas, Houston, Denver and Phoenix. By sheer size, Dallas has a larger office market than Atlanta and the vacancy rate to match. Dallas posted a 18.8 percent vacancy rate for the first quarter, compared with Atlanta's 13.4 percent. Houston and Denver bested Atlanta's vacancy rate but lagged behind the city in absorption and square feet under construction. With the steps the Federal Reserve is taking to stimulate the economy, a rebound may be coming but it will take a while to be felt, he said.
Real estate is a very slow-moving animal.
CMD Realty Investors has nabbed two tenants at Northchase Office Park in Cobb County. Metro One Telecommunications Inc., an Oregon-based directory assistance provider for phone companies such as Alltel Corp., Nextel Communications Inc. and BellSouth Corp., has leased 18,643 square feet at the 1090 Northchase building. Jim Palermo and Jerry Cobb of CB Richard Ellis represented High-Tech Institute in the deal. CMD's Steven Katz represented the owner in the transactions. A Bermuda-based insurer has caught the attention of landlords in the Central Perimeter and North Fulton submarkets.