Research

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…

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…

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…

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The Savannah industrial market saw relief in Q2 2023 as it added 7.9 MSF of new inventory, bringing vacancy up to 4.8%. While booming demand has quickly filled Savannah’s robust speculative supply pipeline over the past few years, groundbreakings have leveled off thus far in 2023. However, Savannah’s development pipeline remains substantial at 17.2 MSF under construction, of which 16% was committed at the end of Q2. Though consumer spending on goods has begun to…