Northwest Atlanta had the third highest amount of space absorbed in Atlanta this quarter. This is the ninth consecutive period with positive absorption. Since 2016, over 5.8 million square feet of space has been absorbed in the submarket.
Most of this quarter’s occupancy gain can be attributed to Suray Carpets expanding into 370,000 square feet at its distribution facility in Bartow County.
The submarket’s overall vacancy rate is at its lowest point ever at 4%. It is also the lowest of Atlanta’s major industrial submarkets.
Despite low vacancy and limited availability, Northwest Atlanta continued to see steady leasing activity in Q1.
The delivery of Cherokee 75 Business Center in the second quarter will help supply the submarket with at least 312,500 square feet of more availability for prospective tenants in the market.
Northwest Atlanta had the third highest amount of space absorbed in Atlanta