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Atlanta Real Estate Market Trends | Northwest Atlanta Industrial Q3 2021

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Northwest Atlanta at record vacancy low, construction increases

Key Northwest Industrial Atlanta Submarket Trends

  • Following Q2’s strong performance, Northwest Atlanta witnessed another 617,000 square feet absorbed in Q3.
  • This quarter’s occupancy gains have pushed the submarket’s overall vacancy rate to a record low of 3.1%.
  • Despite the positive activity, Northwest’s average rental rate dropped 3% quarter-over-quarter.
  • Northwest Atlanta is expected to see a more subdued quarter of absorption in Q4, but leasing is anticipated to remain solid.

Northwest Atlanta Industrial Submarket Q3 2021 Overview

Another quarter of positive absorption puts Northwest Atlanta’s year-to-date total to just under 3-million square feet. Though the occupancy gains were modest compared to the last two quarters, the activity has resulted in the submarket’s vacancy rate reaching a record low of 3.1%; the second lowest in Atlanta’s industrial market. In spite of this, the average rental rate dropped 3% quarter-over-quarter. This likely due to most of the newer product being leased and no longer available. As a result, construction levels increased above 6-million square feet. Q4 is anticipated to be more subdued; however, leasing should remain steady.

Q3 industrial report4

Atlanta Real Estate Market Trends | Northwest Atlanta Industrial Q3 2021

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Harrison Marsteller

Senior Vice President, Principal


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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