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Atlanta Real Estate Market Trends | South Atlanta Industrial Q3 2020

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SouthAtlanta_2019

South Atlanta dominated the Atlanta market in the third quarter of 2020

South Atlanta dominated the Atlanta market this quarter, absorbing just under 5.7 million square feet; more than all other submarkets combined. this is also the highest quarterly amount ever absorbed in one quarter for the submarket.

Amazon's occupancies at Crossroads Distribution Center and Bridgeport were the largest to take place quarter.

As expected with the positive activity, South Atlanta's warehouse vacancy decreased the most of any other submarket in Atlanta. The rate is back below 10% for the first time since the end of last year. Subdued deliveries also helped contribute to the 220 basis points (2.2%) drop in Q3.

Although warehouse rents continue increasing, the submarket's overall average declined due to a drop in manufacturing rents.

South Atlanta will continue to put  up solid occupancy gains in Q4. The submarket remains at the top of the list for e-commerce and logistics companies, and developers to meet demand.

Key Takeaways

  • South Atlanta absorbed 5.7 million square feet in Q3 2020
  • Amazon's occupancies led the submarket
  • South Atlanta's vacancy rate decreased more than any other Atlanta industrial market
  • Warehouse rents continue to increase
  • Overall market rent decreased due to a drop in manufacturing rents
  • South Atlanta is expected to see continued gains going into Q4

3Q20_IND_SAtlanta

Atlanta Real Estate Market Trends | South Atlanta Industrial Q3 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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