Industrial absorption tops 11 million sq. ft. for year in South Atlanta
Key South Atlanta Industrial Submarket Trends
- Another 1.9-million square feet of industrial space was absorbed in South Atlanta this quarter.
- Given the positive gains, year-over-year vacancy has declined 2.6% to the lowest point in more than 20 years.
- Construction remains highest in South Atlanta. The I-85 South/Airport subarea is seeing the most activity.
- With expected absorption of +2-million square feet in Q4, South Atlanta will be the strongest submarket in Atlanta this year.
South Atlanta Industrial Submarket Q3 2021 Overview
South Atlanta experienced its sixth consecutive quarter of positive absorption in Q3 bringing the year-to-date total to just over 11.1-million square feet. Almost three-quarters of the occupancy gains this quarter came from retail and consumer staples companies. Additionally, most of the tenant occupancies were between 100,000 to 400,000 square feet showing continued strength in the smaller industrial users. With demand remaining strong, developers continue to respond with an additional 2.5-million square feet breaking ground in Q3. South Atlanta remains the strongest in Atlanta and will see a record year in 2021.
