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Atlanta Real Estate Market Trends | Northwest Atlanta Industrial Q3 2021

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NorthwestATL_2019

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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Scott Amoson

Director - Research

Atlanta

Scott is the Director of Research for Colliers International in Atlanta, Georgia.  In his role, Scott supports all of the company's brokers in the Atlanta office.  He also manages the Research Associate in the company, and mentors an intern annually during the summer.

Scott began his real estate career in 2000 as a research assistant with Richard Bowers & Co., a local brokerage firm.  He joined Colliers International in Atlanta in 2003.  Scott specializes in aiding the company's clients with geographical, informational and analytical research.  With his extensive knowledge, he provides customized research data including:  market trends, lease and sales comparables, plats/ownership information, demographics, prospect information and economic information.  In addition to supporting the company's brokers and staff, his other responsibilities include compiling and writing quarterly market and submarket newsletters, maintaining the company's internal database of over 10,000 sales and lease transactions, and tracking news/trends related to Atlanta's commercial real estate market.  He is frequently called upon by local news sources for his knowledge and expertise of real estate matters in Atlanta.

As a member of the Colliers International Research Council, he advises on quarterly conference calls and provides valuable input on matters directing the research platform for Colliers International.  Scott was recently selected as the Research Ambassador for the Southeast Region as a part of Colliers International's Centers of Excellence platform.

Scott is a native of Atlanta, and enjoys spending time with his wife Lupe and daughter Sienna.  He is an avid golfer and loves vacationing with family.

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