Reporting live from Jamaica, our top producer of the month, Mike Sutter, SIOR, makes a grand return to the office only to find he has won this month’s Moneyball! Congrats Mike!
Year-End 2023: Industrial Pipeline
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…
Availability & Sublease Tracker | February 2024
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.
LEE IN THE NEWS: Tim Palmer Represents Triumph Motorcycles in move to Lee + White
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.
Q4 2023 SAVANNAH INDUSTRIAL MARKET REPORT
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,…
Q4 2023 Atlanta Office Market Report
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…