ATLANTA
Atlanta’s industrial market showed distinct trends across sectors. Problem markets persisted along 985 & North 85, notably Hall & Jackson counties, with 75 N facing challenges in Bartow. Conversely, tight markets emerged around 85 N (Dekalb & Gwinnett), GA 400, 85 S, & 20 E with vacancies below 7%. Overall vacancy rose to 7.9%, up 330 basis points YOY, equating to 24 MSF. The Warehouse sector saw a flight to newer buildings, reflected in an 8.9% vacancy rate, with significant increases in net absorption. Flex faced absorption losses, contributing to a 6.6% vacancy rate.
VACANT SF BUSCH COMMERCE CNTR HANWHA Q CELLS – CASS WHITE RD 1,218,620 SF RIVER PARK E-COM. CNTR HAVENWOOD – 950 LOGISTICS PKY 1.8 MSF 5390 HUNTER RD COSTCO 907,000 – $87.9M / $96.97 PSF 62.7 MSF TOP NEW LEASE TOP DELIVERY TOP SALE % VACANT 7.9% QRT NET ABSORPTION 2.9 MSF DELIVERED SF 6.0 MSF UNDER CONS. SF 23.4 MSF QUOTED RATES SALES PRICE $9.25 $92 / PSF 0% 1% 2% 3% 5% 6% 7% 4% 8% 50 MSF 40 MSF 30 MSF 20 MSF 10 MSF - MSF 2018 2019 2020 2021 2022 2023 2024 YTD NET ABSORPTION NET DELIVERIES VACANCY RATES NET ABSORPTION, DELIVERIES, & VACANCY RATE
INDUSTRIAL MARKET: Q1 2024
9% 10%
OCCUPIED VS VACANT
ABOUT SKCR
SK Commercial Realty is a full-service real estate brokerage selling, buying, and leasing office, industrial, medical, retail, and land properties. We offer project consulting services, property management, accounting, and investment services.
We have been providing effective real estate solutions to clients throughout the southeast since 1985. Each transaction is treated with the same level of care and attention no matter the size or type, and each is managed by an experienced and knowledgeable team of brokers. SKCR has developed and acquired over 5,000,000 square feet of property, and has also grown to accomodate over 25 brokers and a team of nearly 30 staff accountants, managers, architects, marketing professionals, and leadership roles.
Contact us or learn more by visiting www.skcr.com or calling 404.252.1200.
Source: CoStar data comprised of metro Atlanta industrial market buildings 20,000 RSF and greater. Report by Scott Crooks and Claire Blevins. Copyright 2024. Submarket Inventory SF Total Vacant SF % Vacancy Qrt Net Abs. Delivered SF Under Cons. SF Quoted Rates Central Atlanta & Chattahoochee 22,958,562 2,132,604 9.3% (251,779) - 220,863 $13.43 GA 400 North 27,883,729 1,551,613 5.6% (292,234) 95,468 133,250 $13.61 I-985 & North I-85 87,227,997 12,967,533 14.9% (19,796) 1,690,098 6,266,312 $7.10 I-85 DeKalb & Gwinnett 141,588,490 6,223,589 4.4% (106,781) - 1,278,429 $11.21 I-75 North 90,270,250 10,575,454 11.7% 765,673 646,328 1,415,316 $9.94 I-20 East 75,891,937 5,191,236 6.8% 749,399 632,014 1,986,705 $7.97 I-75 South 126,721,558 9,218,750 7.3% 2,319,360 1,800,000 6,568,268 $10.35 I-85 South 102,327,081 5,991,736 5.9% (260,596) 445,569 3,713,576 $8.47 I-20 West 120,293,279 8,881,927 7.4% (9,473) 716,399 1,785,745 $8.71 Totals 795,162,883 62,734,442 7.9% 2,893,773 6,025,876 23,368,464 $9.25 Northern Submarkets Inventory SF Total Vacant SF % Vacancy Qrt Net Abs. Delivered SF Under Cons. SF Quoted Rates Ware/Dist >1995 195,537,914 24,357,116 12.5% 1,125,420 2,336,426 9,241,044 $8.77 Ware/Dist <1995 142,850,782 6,810,069 4.8% (759,202) - - $10.05 Flex Product 31,540,332 2,283,608 7.2% (271,135) 95,468 73,126 $15.24 Northern Totals 369,929,028 33,450,793 9.0% 95,083 2,431,894 9,314,170 $9.45 Southern Submarkets Inventory SF Total Vacant SF % Vacancy Qrt Net Abs. Delivered SF Under Cons. SF Quoted Rates Ware/Dist >1995 248,637,895 19,447,667 7.8% 3,614,908 3,593,982 14,054,294 $9.55 Ware/Dist <1995 165,861,635 9,347,040 5.6% (764,476) - - $7.66 Flex Product 10,734,325 488,942 4.6% (51,742) - - $13.92 Southern Totals 425,233,855 29,283,649 6.9% 2,798,690 3,593,982 14,054,294 $9.00 25M (9.3%) (5.6%) (6.8%) (14.9%) (11.7%) 100M 50M 150M 200M CENTRALATL& CHATTAHOOCHEEGA400N I-85DEKALB&GWINNETT I-75N I-20E I-75 S I-20W I-985& I-85N OCCUPIED SF VACANT SF (4.4%) (7.3%) (7.4%) Northern Southern I-85S (5.9%)