Northwest Atlanta absorbed over 2 million square feet of industria space for a second consecutive year
Author: Scott Amoson
Northwest Atlanta absorbed over 2 million square feet of industrial space for a second consecutive year. 2017’s total of 2.3 million square feet was the result of strong occupancy gains in Q2 and Q4.
- Zep Products move into its new build-to-suit of 592,800 SF was the largest occupancy this year in the submarket. Elsewhere, move-ins from tenants below 200,000 square feet were numerous
throughout the year and contributed a significant amount to the overall positive activity.
- The industrial vacancy rate for Northwest Atlanta is at its lowest point ever in its history.
- The overall asking average for industrial space in the submarket is above $5/sf NNN. Northwest Atlanta has the highest quoted rents compared to Atlanta’s other major industrial submarkets.
- Activity will continue to be positive in Northwest Atlanta heading into 2018, however, the lack of available options could hinder leasing.