Market-wide sublease availability has declined for the fifth consecutive month, reaching 8.99 million square feet (MSF) in October 2024—the lowest level since August 2023. Sublease availability in buildings of 250,000 square feet or more has experienced the most significant decline, dropping 30.2% year-over-year. Overall availability (all building sizes) has seen a minimal month-over-month increase, primarily driven by a few small new construction groundbreakings. A substantial wave of speculative supply is expected to deliver over…
Lee Atlanta’s Supports With For The Hope Partnership
At Lee & Associates – Atlanta, we are proud to volunteer annually with For The Hope Partnership, contributing to their vital mission of feeding the Atlanta community. This year, our team participated on October 26, 2024, and we are excited to join in again this December. We are committed to making a difference and aim to support this important charity more than once yearly. Together, we can help nourish our community and make a lasting…
October 2024 | Market Brief
Industrial development activity reached its peak in early 2022, with more than 46 million square feet being constructed at the time. Today, less than 10 million square feet is currently underway, marking a construction peak-to-trough timeline of roughly 2.5 years. The about-face and rapid deceleration is remarkable on its own, but it’s paired with another recent trend – an increase in leasing activity. While increasing from a smaller base than at earlier periods this cycle,…
LEE IN THE NEWS: Lee Atlanta’s Team Negotiates Sale of Newly Constructed 163,170 SF Distribution Facility in Lawrenceville
October 4, 2024 (Atlanta, Georgia) – Joseph Mullican, Craig Viergever & Tyler Flemming of Lee & Associates negotiated the sale of 1500 Progress Industrial Blvd. in Lawrenceville. The 163,170 SF newly constructed shell building was developed by Taylor & Mathis. The purchaser, a private company, will use the building for their expanded distribution operations after constructing ±3,000 SF of office area and upfitting the building with dock equipment and racking. Read More on Metro Atlanta…
Q3 2024 Atlanta Market Reports
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Availability & Sublease Tracker | October 2024
The dwindling construction pipeline is starting to reduce the availability of new industrial space Overall availability (all building sizes) in Atlanta has declined for the third consecutive month, though it remains about 16% higher than one year ago Sublease availability sits at 12-month low of 9.4 MSF, and has declined by more than 2 MSF since year-end 2023 Sublease availability for buildings over 250,000 SF has declined for the past four months and is…