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Asking rates in Northeast Atlanta's industrial submarket level off in Q4 of 2019

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NortheastATL_2019

Overall asking rates in the submarket have leveled off a bit over the course of the year thanks to more space on the market.

Key Takeaways

  • Northeast Atlanta finished the year strong with 1.7 million square feet of industrial space absorbed. This led to the submarket seeing its highest annual occupancy gains since 2017.
  • Tenants moving into 500,000 square feet or less were the most active occupants in the submarket this year. This was one of the major themes for the Atlanta industrial market in 2019.
  • Like South Atlanta, warehouse product in the Northeast Atlanta submarket experienced an increase in its vacancy rate year-over-year thanks to new deliveries added.
  • Overall asking rates in the submarket have leveled off a bit over the course of the year thanks to more space on the market. The average warehouse rent is actually down 10 basis points (0.1%) from last year.
  • Although vacancy and availabilities are up this year, overall fundamentals in the submarket are solid. 

 


4Q19_IND_NEast

Asking rates in Northeast Atlanta's industrial submarket level off in Q4 of 2019

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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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