Q2 occupancy gains push vacancy lower in I-20 West/Fulton Industrial
Key I-20 West/Fulton Industrial Atlanta Submarket Trends
- The I-20 West/Fulton Industrial continues its record vacancy run, finishing Q2 at yet another record low.
- For the second quarter in a row, the submarket’s net absorption totaled over 1-million square feet.
- Developers are trying to stay ahead of demand, but available supply remains tight in I-20 West/Fulton Industrial.
- The submarket is expected to see further gains through the end of year, keeping record vacancy levels at unprecedented lows.
I-20 West/Fulton Industrial Atlanta Submarket Q2 2021 Overview
Led by smaller tenant occupancies, the I-20 West/Fulton Industrial submarket absorbed just over 1-million square feet in the second quarter. This represents the fourth time in five quarters levels have topped 1-million square feet. As a result, the submarket’s market-leading low vacancy rate has declined 150 basis points (1.5%) year-over-year. Developers are doing their best to keep up with demand, however, most of the space under construction has already been leased leading to continued availability constraints. I-20 West/Fulton Industrial could see overall vacancy below 2% by the end of the year.