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Atlanta Real Estate Market Trends | Northwest Atlanta Industrial Q2 2020

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NorthwestATL_2019

Northwest Atlanta posted its strongest quarter of absorption in a year, absorbing 351,185 square feet in Q2.

Key Takeaways

  • This quarter's occupancy gains came from a few large tenant move-ins, specifically from BoxyCharm (215,000 SF); Chick-fil-A (200,000 SF) and Best Warehouse (139,000 SF)
  • Vacancy was level from last quarter as absorption levels closely matched delivered inventory. Chick-fil-A's build-to-suit was the largest building to come online this quarter.
  • Construction levels increased in Q2 as developers race to capture demand in the submarket. Manufacturing and logistics are the most active industries in Northwest Atlanta currently.
  • Rental rates in the submarket remain the highest in the Atlanta industrial market. 
  • The occupancy losses anticipated for Northwest Atlanta did not occur in Q2, but are likely to show in Q3. Q4 should see a rebound.

2Q20_IND_NWest

Atlanta Real Estate Market Trends | Northwest Atlanta Industrial Q2 2020

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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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