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Northeast Atlanta practically accounts for all occupancy gains in Atlanta's industrial market

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NortheastATL_2019

With just under a half million square feet of positive absorption, the Northeast Atlanta industrial submarket practically accounted for all of the occupancy gains in the Atlanta market this quarter.

Key Takeaways

  • Smaller tenant occupancies were the major contributor to the positive gains. The largest occupancy of the quarter was Auto Metal Direct moving into its 318,000 square-foot build-to-suit.
  • Even with the positive absorption, overall vacancy increased in Q1. This is due to just under 1.4 million square feet of speculative space delivering to the submarket this quarter.
  • Northeast's overall average industrial rental rate increased by its largest percentage in almost seven years. The addition of new inventory, along with a strong increase in flex rents were the reason for this.
  • The submarket should see positive gains in Q2; however, the COVID-19 pandemic could put strain on some tenants to keep their doors open. E-commerce companies will drive demand going forward.

 


1Q20_IND_NEast

Northeast Atlanta practically accounts for all occupancy gains in Atlanta's industrial market

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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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