Office Space on Peachtree Street Is Sort of Expensive to Rent

Commercial real estate megalith Jones Lang LaSalle is out with a survey of office rents on notable streets across this great nation. The good news for Atlanta? Peachtree Street made the Top 40. The "meh" part of that news? Peachtree is #38. Moreover, Peachtree's average rate of $22.91 per square foot is more than $91 less than the winner, Sand Hill Road in Menlo Park, CA, where rents average $114 per square foot (Sand Hill Road lies in the heart of Silicon Valley and is home to many of the venture capital, law and technology firms that increasingly run the world). Second place winner is New York City's Fifth Avenue at $97 a foot. Pennsylvania Avenue in D.C. (think White House) came in 5th, at a mere $80 per foot. We're not mathematicians, nor are we commercial office experts. But for the price of one measly foot on Sand Hill Road, it looks like you could have a foot of office space on Peachtree Street AND one on 5th Avenue or Pennsylvania Avenue. And that just seems silly.

· Peachtree Street office rent among continent’s highest [Atlanta Business Chronicle]
· Jones Lang LaSalle [official site]