ATLANTA
INDUSTRIAL MARKET: FALL 2023
The Atlanta industrial market’s vacancy rate increased to 5.7%, while net absorption was 1.2 MSF for the quarter and 3.6 MSF YTD. The southern Atlanta markets have a lower vacancy at 5.4% vs. 6.1%, and more net absorption - just over 764 KSF vs. 464KSF. The rental rates are almost $1 less than northern Atlanta at $8.22 vs. $9.26. There has also been a flight to newer builds (1994 or later), with YTD net absorption of 5.13 MSF. There is still a sizeable new construction pipeline, and we expect the vacancy rate to continue to rise and get closer to Atlanta’s long-term average of 8.5%.
44.1 MSF VACANT SF
5.7%
% VACANT
6.7 MSF
1.2 MSF
QRT NET ABSORPTION
DELIVERED SF
35.3 MSF UNDER CONS. SF
$8.74
QUOTED RATES
$108 / PSF SALES PRICE
TOP NEW LEASE
TOP DELIVERABLE
TOP SALE
ATKORE – 1187 CASS. WHITE RD 523,541 SF
ASHLEY CAPITAL – 300 INT’L PKY 1,010,100 SF
STERLING INVESTORS – 2 BLDGS 970,450 SF – $109.3 M / $113 PSF
BUSCH LOGISTICS PARK #A
GA NORTH IND PARK #3
GWINNETT 85 LOGISTICS
NET ABSORPTION, DELIVERIES, & VACANCY RATE NET ABSORPTION
NET DELIVERIES
VACANCY RATES 8%
50 KSF
7%
40 KSF
6% 5%
30 KSF
4%
20 KSF
3% 2%
10 KSF - KSF
1% 2018
2019
2020
2021
2022
2023 YTD
0%