Northeast Atlanta finished the year with over 3 million square feet of industrial space absorbed
Author: Scott Amoson
Northeast Atlanta finished the year with over 3 million square feet of industrial space absorbed in the fourth quarter; the most of any other submarket in Atlanta. The strong Q4 brought the year-to-date absorption total to 6 million square feet.
- With only 270,000 square feet delivered in the fourth quarter, Northeast Atlanta saw its industrial vacancy rate drop 150 basis points (1.5%) from last quarter.
- Four buildings totaling 2.7 million square feet broke ground in Northeast Atlanta this past quarter. The majority of this space is in the Jackson County area of the submarket which already has a 14.3% warehouse vacancy rate.
- Leasing activity for larger spaces in the submarket has slowed significantly. This in conjunction with a few anticipated vacancies to start the year could derail Northeast Atlanta’s positive absorption streak next quarter.