Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, has published its third quarter 2026 Atlanta Retail Market Report.

“Atlanta retail demand is increasingly shaped by format and location. Small-shop fundamentals remain tight, while the market continues to work through larger spaces returned by retailer closures, creating a more selective environment for tenants and investors,” stated John Leonard, senior managing director, market leader, Atlanta.

Key findings include:

• Net absorption was negative in seven of the past eight quarters, with weakness concentrated in spaces larger than 20,000 square feet.
• Retail leasing slowed during the 12 months ended June, particularly for spaces smaller than 10,000 square feet, although fundamentals in the small-format segment remained tight.
• Gainesville-Winder was the only Atlanta-area submarket to record positive net absorption over the past two years.
• June vacancy in Buckhead, Central Atlanta and Central Perimeter was 120 to 150 basis points above each submarket’s prior three-year average.
• Atlanta retail sale prices rose 3.1 percent over the 12 months ended June, while transaction activity increased about 5 percent, led by deals priced below $10 million.

“Investors are responding to these shifts by emphasizing asset quality and durable tenant demand. Newer properties continue to attract interest, while select older centers may offer repositioning potential through renovation or re-tenanting,” added Leonard.