Strong finish to record year for Northeast Atlanta.
Key Northeast Industrial Atlanta Real Estate Market Trends
- Occupancy gains in Northeast Atlanta continued this quarter with absorption reaching just under 3-million square feet.
- Year-over-year, the submarket’s vacancy rate has dropped 280 basis points (2.8%) finishing the year at a record low of 3.4%.
- At 16.2-million square feet, record construction activity is taking place in Northeast Atlanta.
- The positive activity will continue for the submarket in 2022. Like other major submarkets though, vacancy is likely to increase.
Northeast Atlanta Industrial Submarket Q4 2021 Overview
With occupancy gains topping 2.9-million square feet in the fourth quarter, Northeast Atlanta finishes 2021 with a record annual net absorption total of 9.7-million square feet. While the number of move-ins of 600,000-square feet and below were instrumental to the submarket’s success this year, the sheer lack of move-outs helped contribute to Northeast’s vacancy rate dropping to a record low of 3.4%. The Jackson County subarea of the submarket has seen the largest drop this year declining 840 basis points (8.4%). Though subdued in the fourth quarter, the strong leasing activity earlier in the year is anticipated to continue the positive absorption into the new year.