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Atlanta's big-box market starts 2020 off barely in positive territory

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Following a solid year of activity in 2019, Atlanta's big-box market starts 2020 off barely in positive territory, absorbing a net total of only 56,000 square feet in the first quarter.

Key Takeaways

  • The first quarter was somewhat of an off-period with occupancy activity mostly coming from tenants under 350,000 square feet.
  • The small amount of space absorbed, combined with just over 4.2 million square feet of space delivered, the big-box vacancy rate increased 170 basis points (1.7%) quarter-over-quarter, and 240 basis points (2.4%) year-over year.
  • In spite of the unexpected start, big-box leasing was strong. The market has already seen four transactions over 1 million square feet. Amazon was the most active prospect, accounting for three of the four deals.
  • It is yet unclear how the COVID-19 pandemic might affect Atlanta's big-box market; however, it would appear the metro area's diverse industry makeup could shelter it from an adverse outcome.


Spring20_BigBox2

Atlanta's big-box market starts 2020 off barely in positive territory

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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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