- The Atlanta big-box market led the nation in absorption this quarter with a net total of almost 6 million square feet occupied. This brings the year-to-date total to just over 11 million square feet which ranks second in the country behind the Inland Empire.
- The I-20 West/Fulton Industrial submarket experienced the most absorption in Q3, accounting for almost half of the metro area’s quarterly amount. The most significant occupancies were UPS moving into its new distribution hub; and also McLane and Southwire moving into new build-to-suits.
- After somewhat plateauing in the back half of last year, Atlanta’s bulk rents increased to $3.65/sf NNN on rising demand in the third quarter. This represents a 4% increase since the start of 2018.
- A robust leasing market in the past two quarters bodes well for occupancy gains through the end of the year. Given the continued demand for space related to e-commerce activity, Atlanta’s big-box market should see strong absorption levels persist for some time.