Research

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We are excited to announce an important update at Lee & Associates—Atlanta: our Research Associate Program has been renamed the Junior Associate Program. This new title better reflects the comprehensive nature of the training and the goals of the program. The Junior Associate Program is a ±12-month immersion into the world of commercial real estate. Participants gain hands-on experience in various facets of the industry, from conducting market studies and reviewing contracts to engaging in…

Year over year, Savannah’s industrial sector has seen an influx of 27 million square feet of new inventory, leading to an increase in industrial vacancies. Nevertheless, the total leasing volume in Savannah has shown a consistent upward trend since 2018, fueled by the expansion of e-commerce and the flourishing activity at the Port of Savannah. Currently, there is 12,605,640 square feet under construction, 15% of which is already committed. Despite national uncertainties, ongoing investments in…

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Sublease space declined again for the 4th month in a row and is down to 10,133,437 SF, close to what it was back in October 2023.  Significant subleases removed in March include XPO/GXO Logistics’ 907,675 SF sublease at 1625 Oakley Industrial Blvd. in South Atlanta and Walcut’s 247,520 SF sublease at 1720 Peachtree Industrial Blvd. in Northeast Atlanta.   A notable trend is emerging as companies like GXO and Amazon, which collectively had over 2 million…

February was another busy month with total sublease space declining for the second month in a row.  This is mainly due to Amazon removing their 1,108,990 SF sublease from the market at 1250 Cassville White Rd. in White, GA.  The largest new lease this month was Atosa USA who inked a 176,305 SF lease with CA Ventures at 6533 McEver Rd., Buford, GA.  On a very positive note, Atosa’s new warehouse will be 2.75 times…

In 2023, industrial groundbreakings were down approximately 60% compared to 2021 / 2022 levels. The decline in development activity can be directly attributed to a more challenging lending environment and underwriting standards that no longer align with the current market dynamics. Factors contributing to this shift include flattened rental rates, increased construction costs, and higher cap rates. The lower development activity could be viewed as a positive by giving the market the opportunity to recover…