Key Takeaways

• Northeast Atlanta had the third highest amount of industrial space absorbed this quarter at 1.4 million square feet. Amazon’s 459,000 sq. ft. occupancy at Jefferson Mill Business Park was the largest. Outside of this, the submarket saw a number of occupancies between 100,000 to 200,000 square feet.
• The strong quarter of absorption has brought the submarket’s overall industrial vacancy rate back to its lowest point ever at 6.8%. Space availability is mostly located further out in the submarket in the Jackson County area.
• The average rental rate in Northeast Atlanta saw almost a 2% drop from the prior quarter. This could be due mostly to more affordable, and more numerous space options further out in the submarket.
• Although not expected to top last year’s total, industrial absorption in Northeast Atlanta could finish the year with over 5 million square feet absorbed.