While the Atlanta office market had major tenant occupancies in the third quarter, it was the silent majority of smaller tenants (15,000 SF or less) vacating their office space which attributed to the negative 667,094 SF of net absorption. Vacancy continued to trend upward, ending the third quarter at 15.6%. Office sublease availability has increased 42% year-over-year due to recent work from home orders amid the coronavirus pandemic. In the third quarter, Macy’s put their…
Q3 2020 Industrial Market Report
The Atlanta Industrial market had an outstanding third quarter. Even with the economic impact of the COVID-19 pandemic, Atlanta’s industrial real estate market continued to thrive with exceptional demand in Q3 2020. Vacancy dropped 50 basis points to 6.6%, even with seven million SF of new industrial inventory entering the market. Leasing activity, while not as robust as quarters past, still showed strength in numbers as industry giants Amazon and Home Depot grew their Atlanta…
Summer 2020: Atlanta Office Submarket Reports
Our Spring 2020 Submarket Reports have arrived! Click on the images below to read:
Mid-Year 2020 Industrial Market Report
The Atlanta Industrial market had an outstanding second quarter. The market absorbed more space than what was delivered (4.4 MSF vs. 4.2 MSF). This is the second time this has occurred since Q3 2018, causing the vacancy rate to hold steady at 7.2%. Despite limitations, tenants have continued to conduct business during the shutdown. Leasing activity has held strong at just over 11.5 MSF with major leasing activity this quarter centered around e-commerce businesses. Amazon…
Mid-Year 2020 Atlanta Industrial Pipeline
The first half of 2020 has been anything but ordinary. The coronavirus pandemic resulted in the entire globe seeking some level of “shelter in place” except for essential businesses; those people who continued to work instituted precautionary measures to diminish the spread of the virus. As of this report’s date, there are over 570,250 global deaths from COVID-19, with over 135,250 in the United States. The silver lining to all these disruptions is that the…
Spring 2020 Atlanta Office Under Construction Report
Speculative construction makes up 81% of all Atlanta development activity. Strong leasing velocity, particularly in new properties in Midtown, have helped calm fears of oversupply. In the first quarter of 2020 alone, five buildings delivered and three of which were speculative and were 69% plus preleased upon completion. The coronavirus pandemic may lead to project delays or a slowdown in groundbreakings over the next quarters, however the full scope of its impact remains unknown.
Spring 2020 Atlanta Office Submarket Reports
Our Spring 2020 Submarket Reports have arrived! Click on the images below to read:
Spring 2020 Atlanta Industrial Market Report
Atlanta’s industrial market remained on solid footing in Q1 of 2020, but an increase in delivered speculative supply coupled with a recent slowdown in absorption showed a rise in overall vacancy. Net absorption in Q1 was essentially flat, representing one of the lowest SF quarters for demand over the past decade. However, leasing activity ended strong at the end of Q1 at 10,033,208 SF of newly signed leases. In the first quarter, seven new industrial…
Spring 2020 Atlanta Office Market Report
Due to a limited supply and a steady demand, Atlanta’s office market continued to see overall growth in the first quarter of 2020. Vacancy in Atlanta remained below the metro’s historical average, ending Q1 at 15%. The metro’s core submarkets continued to drive Atlanta growth, which has fueled a rapidly growing development pipeline. Five developments, each over 100,000 SF and totaled 1.7M SF, delivered in the first quarter. Among these developments were State Farm’s 670,000…