Northeast leads the Atlanta market in Q2 absorption.
Key Northeast Industrial Atlanta Submarket Trends
- Northeast Atlanta saw the most space absorbed in the Atlanta market this quarter.
- The market-leading occupancy gains pushed the submarket’s overall vacancy below 5% for the first time ever.
- After somewhat stalling over the past year, Northeast’s average rental rate increased to a record high $5.15/sf this quarter.
- The outlook remains solid for the submarket. Strong demand will continue to elevate occupancy levels.
Northeast Atlanta Industrial Submarket Q2 2021 Overview
Thanks to numerous occupancies from tenants in the 100,000 to 500,000 square-foot range, the Northeast Atlanta industrial submarket absorbed just under 3.5 million square feet this quarter, the Atlanta market’s highest. Both the Gwinnett/I-985 and Jackson County subareas experienced strong gains in Q2. Demand continued to be strong as well with the submarket seeing leasing activity reach 6 million square feet this quarter. This has led to overall construction activity increasing by 2.5 million square feet to a total of 11.6 million square feet, which is the highest amount in the Atlanta industrial market.