After leading the Atlanta market in absorption in the second quarter of 2019, Northeast Atlanta's Industrial submarket saw its lowest quarterly absorption rate in six years during Q3.
- Although Northeast Atlanta has the second highest amount of space absorbed year-to-date, the Q3 total was the submarket’s lowest quarterly net absorption in six years.
- Occupancy activity was limited to move-ins under 200,000 square feet this quarter. Additionally, recent leasing activity has been subject to the same-sized tenants.
- Vacancy in Northeast Atlanta has increased by 90 basis points (0.9%) year-over-year and is expected to continue increasing as spec product delivers. The I-985/Jackson County area of the submarket is seeing the bulk of the increase. Vacancy here is up 460 points (4.6%) year-over-year.
- The submarket currently has three existing availabilities of 1-million square feet and up; and one under construction.
- Despite this quarter’s lack of meaningful absorption, Northeast Atlanta will still finish the year with solid occupancy gains.