MARKET OVERVIEW

South Fulton Submarket

Located in the South Fulton/Union City submarket, the subject property benefits from its proximity to Hartsfield-Jackson Atlanta International Airport – the world’s busiest airport –easily accessible within a 15 to 20 minute drive. The submarket includes the city of South Fulton, which is home to more than 108,000 residents and features bustling business districts on Roosevelt and Old National Highways and communities with rich histories such as Red Oak, Campbellton and Sandtown.

In addition to its busy retail corridors – including Camp Creek Parkway located just east of the subject property – the submarket is situated within one of the most dynamic industrial hubs in the country, which continues to attract major retailers and logistics providers that use this area as a spoke in their regional and national distribution networks.

The vacancy rate of 2.5% in this retail area has been roughly in line with the five-year average as of early first-quarter 2023, and they were essentially unchanged from 2022. The rate also comes in below the region’s average. Meanwhile, rents have surged in the past 12 months, growing by 8.2% year over year, representing the strongest rate of annual rent growth observed over the past five years.

Although roughly 98,000 SF of retail space has delivered over the past three years, there are no projects currently underway in the submarket, which is a very liquid investment market characterized by heavy trading.