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Northwest Atlanta industrial experiences its first negative quarter in 4.5 years

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NorthwestATL_2019

The Northwest Atlanta industrial submarket experienced its first negative quarter of absorption in 4.5 years losing 108,000 square feet of tenant occupancy in Q1.

Key Takeaways

  • There were a handful of consolidations, closures and relocations out of the submarket which led to the negative quarter.
  • Despite the occupancy loss, the overall vacancy rate in Northwest Atlanta remains below 5% and has the lowest amount of vacant warehouse space compared to Atlanta's Big 4 submarkets.
  • As of result to the added space, Northwest Atlanta experienced the largest drop in four years to its overall rental rate average.
  • Construction activity is picking up in the submarket despite the occupancy loss this quarter. Availabilities of certain sized properties are in short supply, thus attracting developers to the area.
  • Projected absorption levels for Q2 show another rough quarter in Northwest Atlanta. Some of this could be related to COVID-19.

1Q20_IND_NWest

Northwest Atlanta industrial experiences its first negative quarter in 4.5 years

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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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