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Northeast Atlanta's Industrial Submarket Slumps to Lowest Quarterly Absorption Rate in 6 Years

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NortheastATL_2019

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.

Key Takeaways

  • 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.

 


3Q19_NEastInd

Northeast Atlanta's Industrial Submarket Slumps to Lowest Quarterly Absorption Rate in 6 Years

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Related Experts

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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Scott Plomgren

Senior Vice President, Principal

Atlanta

 Scott began his real estate career in 2002 with McWhirter Realty Partners, a local Atlanta brokerage firm. Scott has experience partnering with both local and national clients.  Transaction history includes build to suits, site selection, & acquisitions and dispositions on both lease and sale basis. Noteworthy clients include MOL Logistics, MS International, Excel Foods, Wickmann USA, General Paper Goods and Audio America.

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