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Atlanta Real Estate Market Trends | Northwest Atlanta Industrial Q1 2021

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NorthwestATL_2019

Northwest Atlanta continues to see positive gains

Key Northwest Industrial Atlanta Submarket Trends

  • Industrial absorption was positive for a fourth consecutive quarter in Northwest Atlanta
  • Overall vacancy ins below 5% yet again following Q1 gains
  • Although activity has been positive, the submarket witnessed a decline in its overall asking rate
  • the foreseeable outlook for Northwest Atlanta remains positive as both supply and demand are solid here

Northwest Atlanta Industrial Submarket Q1 2021 Overview

Over 700,000 square feet of industrial space was absorbed in the first quarter in Northwest Atlanta. LG was the largest occupancy of the quarter, moving into just over 510,000 square feet at Georgia North Industrial Park. Beyond that, the majority of occupancies in Q1 came from tenants under 100,000 square feet.

Demand for space has rocketed construction levels in the submarket. Northwest has the second highest amount of product in development currently, behind only South Atlanta. Looking forward, the second quarter is expected to see even more occupancy gains, likely topping this quarter. 

 

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Atlanta Real Estate Market Trends | Northwest Atlanta Industrial Q1 2021

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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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