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Developers Beginning to Announce New Projects for Northwest Atlanta Industrial Submarket

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NorthwestATL_2019

Taking note of strong demand for industrial space in Northwest Atlanta, developers like Panattoni are beginning to announce new projects for the area.

Key Takeaways

  • Absorption was steady in the Northwest Atlanta industrial submarket this quarter. Occupancies under 100,000 square feet accounted for Q3’s positive activity.
  • Although vacancy has remained relatively level year-over-year, Northwest Atlanta continues to boast the lowest industrial vacancy rate of Atlanta’s largest industrial submarkets.
  • Given the strong demand for industrial space here, developers have taken note and are beginning to announce new projects to the area. Panattoni just recently revealed its plans for a new 1-million square-foot building in the submarket.
  • Overall rents in Northwest Atlanta remain elevated thanks to the limited availabilities for large blocks of space. Warehouse rents have increased just over 10% year-over-year.
  • A couple of large vacancies are anticipated to hit the market in Q4, but the submarket should still finish 2019 positive overall.

3Q19_NWestInd

Developers Beginning to Announce New Projects for Northwest Atlanta Industrial Submarket

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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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