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Atlanta Real Estate Market Trends | Northwest Atlanta Industrial Q4 2020

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NorthwestATL_2019

Industrial absorption remained positive for a third consecutive quarter in Northwest Atlanta, leading to an annual gain of just over 650,000 square feet.

Key Northwest Industrial Atlanta Submarket Trends

  • Northwest Atlanta vacancy rate increased in the final quarter of 2020
  • Net absorption for the Northwest Atlanta Industrial submarket was positive this quarter
  • Construction was up for the submarket in the fourth quarter of 2020
  • Rental rates decreased during the fourth quarter of 2020

Northwest Atlanta Industrial Submarket Q4 2020 Overview

Industrial absorption remained positive for a third consecutive quarter in Northwest Atlanta, leading to an annual gain of just over 650,000 square feet.

Northwest Atlanta’s industrial vacancy rate increased to 5%, up 70 basis points (0.7%) year-over-year. This increase is due to deliveries outpacing the absorption activity. Over 1.2 million square feet of new warehouse product was added to the submarket in 2020.

Construction levels remain higher than last year, with the amount in development up over 3 million square feet from the end of 2019. This construction trend benefits the submarket, given there are no existing availabilities over 500,000 square feet currently.

The average warehouse rate has not kept up with the supply crunch. This is likely a result of the new product further out, less expensive to develop in some cases, coming online. 
Northwest Atlanta should continue to see gains in the coming year, given supply/demand fundamentals.

 

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Atlanta Real Estate Market Trends | Northwest Atlanta Industrial Q4 2020

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Related Experts

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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Scott Plomgren

Senior Vice President, Principal

Atlanta

 Scott began his real estate career in 2002 with McWhirter Realty Partners, a local Atlanta brokerage firm. Scott has experience partnering with both local and national clients.  Transaction history includes build to suits, site selection, & acquisitions and dispositions on both lease and sale basis. Noteworthy clients include MOL Logistics, MS International, Excel Foods, Wickmann USA, General Paper Goods and Audio America.

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