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Speculative Construction Has Yet to Take Hold in Northwest Atlanta's Industrial Submarket

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NorthwestATL_2019

Despite vacancy rates below 4%, speculative construction of new industrial space has yet to take hold in Northwest Atlanta.

Key Takeaways

  • Northwest Atlanta's industrial absorption bounced back in the second quarter, posting just under 472,000 square feet of net gains. Loloi Rugs' occupancy at its new building was the largest of the quarter for the submarket.
  • Beaulieu's vacancy at 201 Princeton Blvd. was a major contributor to the submarket's vacancy rate increasing this quarter. The flooring company consolidated to its existing location in Bartow County.
  • Speculative construction has yet to really take hold in Northwest Atlanta; however, given the submarket's low vacancy rate and limited availability, developers have begun to scout sites here.
  • Average warehouse rents in Northwest Atlanta increased the most of any other industrial submarket in Atlanta this quarter.
  • Activity is expected to remain steady in the submarket through the end of the year. Limited availability for large blocks of space will continue to surpress overall leasing from big tenants here.

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NorthwestATL_2019

Speculative Construction Has Yet to Take Hold in Northwest Atlanta's Industrial Submarket

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Harrison Marsteller

Senior Vice President, Principal

Atlanta

Harrison Marsteller began his career at Colliers International in Atlanta soon after graduating from University of Alabama with a BBA majoring in Finance and economics. Harrison joined the team of Sean Boswell, Darren Ross and Scott Plomgren, a team of industrial professionals with over 35 years of experience and 90,000,000 SF transacted. 

Harrison’s area of interest and expertise is primarily the Atlanta industrial market, particularly the I-20 West and Northeast Atlanta submarkets.  Harrison provides his clients with site selection, market research, financial analysis, and transactional services including leasing and purchasing new space and subleasing or selling excess space.

Harrison’s focus and dedication to meeting his clients’ needs provides him the ability to deliver outstanding service to both landlords and tenants.

 

 

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