Atlanta’s Industrial market in 2017 has shown great promise for 2018. According to a report done by Cushman & Wakefield, Atlanta, Georgia’s industrial market had an overall positive absorption of 20.4 million sq ft, which exceeded all expectations for the area and a previous record set in 2014 by 26.7%.
The demand for industrial space continues to grow in the Atlanta area. In 2017 alone, completed industrial space reached an all time high with over 17.6 million sq ft, which is only expected to produce more space in 2018 with an additional 15.0 million sq ft.
Atlanta can be broken down even further by its submarkets, with the Northeast Atlanta area showing the greatest amount of promise. Northeast Atlanta dominated the quarter with over 2.8 million sq ft or 68% of the entire quarter’s positive net absorption. Despite Northeast Atlanta’s higher vacancy rate of 7.8%, Atlanta’s overall vacancy rate decreased 130 basis points YoY to 7.7%.
With over 560 million sq ft of inventory, more and more companies are relocating to the attractive Atlanta area. It’s no wonder Atlanta is an attractive location for both companies and individuals who want to benefit from the area’s growing economy, eCommerce, and job growth.
For a more in depth analysis of the Atlanta, GA industrial market, check out Cushman & Wakefield’s review of the market.
If you’re an investor interested in learning more about the Atlanta commercial real estate market, in particular industrial properties, contact myNOI’s selected broker in Atlanta, Georgia, Rick Ferguson.
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