News & Reports

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…

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There was a slight drop in Available SF in January from 82.56 MSF in January to 82.33 MSF in February.  The most notable sublease inked in January was Devgiri taking down the 705,833 SF Conn’s sublease at 2464 Mt. Zion Road in Jonesboro.  It is worth noting that this was the 3rd month in a row that Available SF decreased, albeit slightly.

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U.K.-based motorcycle manufacturer Triumph Motorcycles (represented by Tim Palmer of Lee & Associates) is relocating its North American headquarters to Lee + White, an adaptive reuse mixed-use development in the West End……..click below to keep reading. 

The final quarter of 2023 ended with an industrial supply surge of 8.3 MSF, lifting the Savannah vacancy rate to 8.9%. Savannah’s development pipeline remains substantial at nearly 10 MSF under construction, though groundbreakings had a 67% decrease year-over-year. Leasing activity ended the year strong at 4.2 MSF leased and overall net absorption for the quarter was 5.7 MSF, bringing year-to-date absorption to 15.3 MSF, a 19% increase over 2022. Despite short-term challenges, developers, investors,…

Although office leasing activity in Atlanta has not fully returned to pre-pandemic levels, the final quarter of 2023 showcased sustained tenant demand, evident in the signing of several new, sizable leases. However, the ongoing reassessment of footprints by tenants has led to an overall increase in both overall and sublease availability, resulting in a record-high vacancy rate of 21.2%. The conclusion of 2023 marked the third consecutive quarter of negative absorption in the Atlanta office…

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…

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…