Key Takeaways

  • Northwest Atlanta saw mediocre activity for a second consecutive quarter as there are very few availabilities to fill in the submarket. Absorption was +37,484 square feet in Q3 bringing the year-to-date total to +683,402 square feet.
  • The submarket’s vacancy rate remained relatively unchanged from the previous quarter. Warehouse vacancy in Northwest Atlanta has dropped again to its lowest level ever recorded.
  • Construction activity remains steady with Loloi Rugs’ build-to-suit the only large project currently underway. This is expected to change next quarter as Ashley Capital begins work on a spec distribution building of 766,080 sq. ft. in Adairsville.
  • The submarket’s overall average rent increased the most of any other industrial submarket this quarter.
  • Northwest Atlanta will finish 2018 in positive territory, and with the highest occupancy percentage of any other submarket in Atlanta.

 3Q18_NorthwestATL