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South Atlanta sees first negative quarter in 4.5 years

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SouthAtlanta_2019

South Atlanta had its first quarter of negative absorption in 4.5 years. Newell Rubbermaid's vacancy of 745,000 square feet was the largest move-out in Q1 and helped contribute to the occupancy loss.

Key Takeaways

  • The negative activity, in conjunction with newly delivered space, resulted in the submarket's vacancy rate increasing 160 basis points (1.6%) quarter-over-quarter. The rate is above 10% for the first time in two years. Most of the vacant space was added in the 85 South/Airport area. 
  • Despite the off quarter, warehouse leasing activity was the strongest it has been in two years. Amazon alone has been very active in South Atlanta, and continues to scout more locations.
  • Heading into second quarter, uncertainty has entered the commercial real estate market as COVID-19 has shut down business activity. South Atlanta, however should weather the storm given its ideal location for logistics providers, and also the many locations available to e-commerce activity.

1Q20_IND_SAtlanta

South Atlanta sees 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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