MARKET INSIGHTS
Sector Trends Reaching The Commercial Real Estate Market in Northeast GA Inside this report: The Avison Young Advantage - Avison Young has a designated team for each client with both local and international resources to suit all commercial real estate needs. For more information about a property in this rreport, please call 770-532-9911 State of The Market Overview: 2 Industrial/Office/Manufacturing: 3 Land and Development Listings: 4-5 Northeast GA transactions: 6 The Gathering at South Forsyth: 7
Major
A 100 acre mixed-development in South Forsyth bigger than The Atlanta Battery will be a $2B worldclass entertainment hub. Learn more on page 7.
Atlanta’s industrial construction pipeline remains strong amidst a large amount of new space delivering in Q1 2023
4.6 msf was delivered during the first quarter of 2023, with another 35.8 msf anticipated to be delivered during the remainder of 2023, although some of this will push into 2024 due to delays in receiving construction materials.
Summary
The Atlanta industrial market continues to see positive momentum in 2023. The development pipeline remainsstrong with 4.6 million square feet (msf) delivered during the first quarter and another 35.8 msf anticipated to be delivered over the course of 2023. Although available space has increased 19% year-over-year, space is still viewed as limited, which could continue to increase asking rental rates. Due to the demand for space, it is anticipated that the pace of construction activity will not decrease, which could also impact rental rates as construction costs remain high.
Lease escalations on the rise
Average annual lease escalations are at 4%, partially due to th e increase in inflation.
5.3 msf
$7.14 psf
Available sublease space continues to increase
Over 5.3 msf of sublease space is available, up 144% year-over-year.
Rental rates continue to climb
Average asking rental rates are up 4.3% since the end of 2022. Although availability has increased 19% year-over-year, space is seen as limited compared to demand.
Atlanta Industrial Market Report | First Quarter 2023
4%
2 Avison Young 770-532-9911 avisonyoung.com DOWNLOAD THE ATLANTA INDUSTRIAL MARKET REPORT
2565 Thompson Bridge Rd | Hall County
Class “A” Office Suites minutes from Downtown Gainesville and Interstate 985. Suites ranging from 750 SF up to 4,442 SF contiguous. High end fi nishes, including two story glass lobby atrium and white marble lobby flooring.
2190 Chicopee Mill Road | Hall County
Located on Hwy 72, this ± 74,125 SF building is newly renovated with room for expansion. The site is located in Comer, GA, which is just outside of the Athens Business and Education Hub. The building has 2 docks, 5 drive-ins, and 10’25’ clear heights.
2620 Barrett Rd | Hall County
± 25,000 SF of industrial space and ± 5,000 SF of office space available. Located in a rapidly growing industrial corridor connecting Gainesville to I-85. Close Proximity to new Gainesville 85 Business Park with high visibility as a corner lot.
This ± 89,786 SF site is located in the heart of the I-85 Industrial corridor. Sitting between Mayfield Dairy, and a developing ± 234,133 SF Facility, Broadway Ave is a prominent site with corporate neighbors like Amazon, Hitachi, and Havertys.
2-building office investment in Lawrenceville, GA. 36,119 Rentable Building SF, 96% occupancy, 2.37 Acres.
Freestanding Medical Office
Investmentin Downtown Gainesvile. 2 blocks from Northeast Georgia Medical Center. 100% Occupied single tenant.
Falcon II Distribution Center | Hall County
Falcon II distribution center is a 3 building site on the I-985 industrial corridor in the Northeast Georgia Submarket. It features immediate access to Interstate-985 with easy ingress and egress. The site includes three buildings that total ± 496,000 SF with medium to large scale distribution opportunities from ± 50,000 SF to over ± 221,639 SF. Located at 3920 Falcon Parkway, Oakwood, GA 30542.
Buildings Industrial/Office/Flex Listrings
LEASE FOR SALE FOR SALE FOR LEASE FOR LEASE FOR SALE
FOR
425 Broad Street | Hall County 555-565 Old Norcross | Lawrenceville, GA
1394 Broadway Ave | Braselton, GA
Contact Andrew Joyner, CCIM
Contact Russell Dye, CCIM or Sam B. Simpson
Contact Andrew Joyner, CCIM
Contact Frank N. Simpson, CCIM SIOR, Jason Holland, CCIM, or Chris Hoag, CCIM
Contact Frank N. Simpson CCIM SIOR or Sam B. Simpson
Contact Frank N. Simpson, CCIM SIOR or Sam B. Simpson
Contact Frank N. Simpson, CCIM SIOR, Chris Hoag, CCIM, or Sam B. Simpson 3 Avison Young 770-532-9911 avisonyoung.com FOR LEASE 221,639 SF 125,817 SF FalconPkwy 148,739 SF
Land and Development Listings
6010 Cross Roads Rd | Cumming, GA
19.72 Acres US-19 (GA-400) |Dawsonville, GA
8 acre tract Prime for Development along the Georgia 400 corridor. All utilities to site. Highest and best use for Retail, Office, or Residential.
Contact Will White
2985 Jackson Bridge Rd | Toccoa, GA
52 +/- acres in Franklin county just off the I-85 corridor. This site sits as a midpoint between Greenville, SC and Atlanta, GA with 2,200 feet of road frontage.
Contact William Reems
1040 US Hwy 29 N | Hartwell, GA
3.59 Acres in Hartwell, GA. Parcel is zoned commercial/ retail located just outside of downtown Hartwell. Traffic Count: 16,000 ± CPD.
Contact J. Leslie Johnson, CCIM SIOR
This 19.72 acre site features 1,330 feet of frontage on US-19 (GA-400) just minutes from North GA Premium Outlets in Dawsonville, GA.
Contact Sam B. Simpson
Tract 4N | Flowery Branch, GA
This 8.12 acre site is located near major industrial facilities, Atlanta Falcons Complex, Gainesville College & Lanier Technical Institution & the exit 14.
Contact Frank N. Simpson, CCIM SIOR or Sam B. Simpson
572 Acres Pea Ridge Rd | Hall County
These two parcels are the largest available tracts on The Chattahoochee River in Georgia with over a mile of water frontage. Possibility of assembly up to 793 contiguous acres along the Chattahoochee River
Contact Will White
4 Avison Young 770-532-9911 avisonyoung.com FOR
FOR SALE FOR SALE FOR
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SALE FOR SALE
Land and Development Listings
3658 Lawrenceville Highway | Tucker, GA
13 Acres South Elm Street | Commerce, GA
Redevelopment opportunity within the city limits of Tucker. Surrounded by multiple industrial parks with the railroad being accessible.
Contact Jason Holland, CCIM, Chris Hoag, CCIM, or Andrew Joyner, CCIM
Memorial Drive - Tract 1 | Toccoa, GA
Three Tracts Prime For Development along the Georgia 400 corridor. All utilities to site. Highest and best use for Retail, Office, or Residential.
Contact Will White
29.23 Acres Mt Carmel Rd | McDonough, GA
Contact Russell Dye, CCIM or Will White
3995 Falcon Pky | Hall County, GA
Three Tracts Prime For Development along the Georgia 400 corridor. All utilities to site. Highest and best use for Retail, Office, or Residential.
Contact Jay Lawson or Will White
4300 Oakwood Rd | Oakwood, GA
8.63
Contact Andrew Joyner, CCIM
10.5 acre development opportunity near heavily traveled Hwy 53. Less than 2 miles from I-985, .6 miles to UNG. Water and Electricity on site. Sewer is ± 100ft from the site.
Contact Frank N. Simpson, CCIM SIOR or Sam B. Simpson
FOR SALE FOR SALE FOR SALE FOR SALE FOR SALE FOR SALE
5 Avison Young 770-532-9911 avisonyoung.com
39.92 Acres. Mixed use (Residential or Industrial). Water to site. Frontage on Memorial Drive and Medowbrook Drive.
Acres development site just off exit 14 on I-985. Across the street from new new industrial, residential, and retail developments.
Recent Transactions| Northeast GA Submarket 6 Avison Young 770-532-9911 avisonyoung.com • Landlord Representation & Agency Leasing • Tenant Representation & Occupier Services • Lease Negotiation • Valuation & Advisory Services Our team specializes in: • Transaction Management • Consulting Services • Capital Markets • Investment & Asset Management SOLD: $1.3M SOLD: $2.2M SOLD: $7.7M SOLD: $4.2M SOLD: $3.2M SOLD: $3M 61652 Atlanta Hwy Gainesville, GA 40095 US Hwy 441 Commerce, GA - 16,000 SF 189 ± Lot Mixed Development Flowery Branch, GA - 42.7 Acres H F Reed Industrial Pkwy Flowery Branch, GA - 14.1 Acres 3126 Atlanta Hwy Oakwood, GA - 6.5 Acres 6533 McEver Rd Flowery Branch, GA - 34.6 Acres
Will White Frank N. Simpson, CCIM SIOR Sam B. SImpson
J. Leslie Johnson, CCIM SIOR
Will White Frank N. Simpson, CCIM SIOR Sam B. SImpson
Frank N. Simpson, CCIM SIOR
Russell Dye, CCIM Frank N. Simpson, CCIM SIOR Sam B. SImpson
Russell Dye, CCIM Frank N. Simpson, CCIM SIOR
A $2 billion development plan has been proposed, featuring various facilities such as shops, restaurants, hotels, and residential spaces, among other offerings. The centerpiece of the project would be an 18,500-seat arena, aiming to lure Broadway performances, sporting events, and other forms of entertainment to the region.
The upcoming development called “The Gathering at South Forsyth” is planned to be situated at the intersection of Ronald Reagan Boulevard and Union Hill Road, adjacent to Georgia 400.
The Development features:
• 1.2-mile connective trail along the Big Creek Greenway
• 1.6 M SF of office and retail space
• 750,000 SF of arena space with a capacity of 18,500 seats
• 100,000 SF community center
• 7,500 SF fire station
• 450 hotel rooms with meeting space
• 2,400 residential units
5,000 Commercial real estate professionals 16 Countries 225 msf Under property management 100+ Offices 7 Avison Young 770-532-9911 avisonyoung.com
MAILING ADDRESS PO Box 292 Gainesville, GA 30503 770 532 9911 The information contained herein was obtained from sources which we deem reliable and, while thought to be correct, is not guaranteed by Avison Young. Visit us online avisonyoung.com Northeast Georgia View all available properties: 770-532-9911 Market Insights Q2 2023
