Atlanta’s healthcare industry remained resilient despite economic changes in 2022. Patients continued
in-person care and healthcare spending continued to rise. Atlanta employment in healthcare continued
to grow as the metro added 9,841 Ambulatory Healthcare Service jobs over the past year, including
offices of physicians, dentists, and medical and diagnostic laboratories. The addition of the jobs drove the
unemployment rate down to 2.8% and many groups are struggling to find sufficient talent across many
healthcare roles.
Leasing gained momentum throughout the year, totaling 420,538 square feet (sf) of new deals, a 5.0%
increase over 2021. Atlanta recorded healthy net absorption of 111,779 sf in 2022 with South Atlanta
contributing to 18.7% of total leasing and Northwest with 16.2%. Construction of five new medical office
buildings is actively underway we would predict increases in occupancy again during 2023. The additional
352,764 sf of new development is already 55.1% pre-leased, indicating that demand continues to keep pace
with supply.
