Sixty-two percent of all metro Atlanta professional services firms are now located in Downtown, Buckhead and Midtown — with the majority in Midtown — according to new research commissioned by CBRE Global Investors.
These three neighborhoods, serving collectively as Atlanta’s central business district, grew their headcount of professional service workers by nearly 17 percent over the past decade. This is an increase of 3,557 jobs. Of the three neighborhoods, Midtown was the clear winner, capturing 66 percent of the new professional services firms, or 2,365 jobs.
Professionals services firms nationwide are wrestling with a generational shift that is changing the way they work and use office space. Research shows a trend in office site selection as employers aim to attract young Gen Y professionals by locating in trendy urban centers that offer a mix of residential options, shopping and entertainment in a walkable setting.
“This new research indicates that professional services firms are flocking to Midtown,” Jeff Keppen, Senior Vice President at CBRE, said in a release. “When firms are looking to attract young talent, they need to be in a vibrant walkable neighborhood, and in Atlanta that’s neighborhoods like Midtown and Atlantic Station.”
An in-depth whitepaper with new findings and analysis can be found attached or downloaded at http://www.27117thstreet.com/cbre_prosvcfirms.pdf.