South Atlanta dominates Atlanta's industrial activity in Q1
Key South Atlanta Industrial Submarket Trends
- South Atlanta yet again led the industrial market in quarterly space absorbed at 7 million square feet
- The submarket's overall vacancy rate dropped to 6.6% following the positive quarter; the lowest it has ever been
- Most of Atlanta's Q1 deliveries took place in South Atlanta
- the South Atlanta submarket is on track for another strong year of occupancy gains; likely its highest ever in a year.
South Atlanta Industrial Submarket Q1 2021 Overview
South Atlanta saw a number of large occupancies this quarter and led the Atlanta industrial market in net absorption by a wide margin.
The submarket accounted for 65% of Q1's occupancy gains. The largest move-in of the quarter here was Goodyear occupying its new build-to-suit at Orchard Hills Business Park.
Elsewhere, the submarket saw large owners such as Zinus and DHL move into their buildings as well. With the positive gains, the overall vacancy rate for the submarket is down to its lowest level ever at 6.6%.
Given the pipeline of anticipated occupancies, South Atlanta is likely heading to its best year ever.