Overall activity in Atlanta’s industrial market decelerated in the fourth quarter, as over 9 MSF of new industrial space, largely uncommitted, delivered to the market and placed upward pressure on vacancy. Despite this, leasing volume remained relatively stable from Q3 to Q4, a positive sign of continued tenant engagement in the Atlanta market. Furthermore, development activity ended 2023 with 19 MSF under construction, with less than 3 MSF breaking ground in each quarter of the…
Availability & Sublease Tracker | January 2024
Below is the Lee & Associates – Atlanta availability tracker for December 2023. We continue to collect valuable data and share it with our clients so they can see the real-time dynamics of the Atlanta Industrial Market. Of note for December 2023: Overall availability dropped to 82.56 MSF in December due in part to two large leases in South Atlanta including: Yita leased 472,767 SF at 200 Metcalf Road in Forest Park GXO renewed 498,258…
Q3 2023 SAVANNAH INDUSTRIAL MARKET REPORT
While Savannah’s vacancy rate trended upward from record lows due to new industrial supply hitting the market this year, tenant demand rose with 2.4 million SF of deals signed in Q3, more than double the square footage leased last quarter. Net absorption increased to 3.3 million SF, bringing year-to-date 2023 net absorption to 9.6 million SF. With ongoing demand and continued growth at the Georgia Ports, Savannah sees no slowdown for additional development in the…
Q3 2023 Atlanta Office Market Report
The addition of uncommitted office inventory and persistent economic uncertainty resulted in a somewhat distressed third quarter for Atlanta. However, while vacancy and sublease available inventory have continued to trend upward in recent quarters, leasing activity in the third quarter was at a year-to-date high of 2.1 million SF leased, with suburban submarket Northwest leading the way in tenant demand. Average lease sizes are shrinking as corporations reevaluate footprints and are often committing to less…
Q3 2023 Atlanta Industrial Market Report
As expected, Atlanta’s industrial market saw an uptick in vacancy in the third quarter as a record amount of inventory delivered. Still, a healthy market, overall net absorption was back in the positive and surged in Q3 to 3.3 million SF. Overall leasing activity has dwindled quarter-over-quarter from record highs. However, sublease availability has begun to cool, rising only 8.9% since last quarter after rising 37% in the first half of the year. Industrial construction…