- Coming off of its best year ever of net absorption, the Atlanta big-box market began 2019 somewhat quietly with occupancy gains totaling just under 2 million square feet in the first quarter.
- Bulk vacancy has steadily increased the past three quarters. This is mostly due to the 9.5 million square feet of speculative industrial space delivered during this time.
- The addition of new inventory, coupled with sustained demand in the market has pushed bulk rents to yet another record high. Year-over-year the average is up 6.3%.
- South Atlanta continues to dominate Atlanta’s bulk industrial market. The submarket accounted for 73% of the absorption in First Quarter 2019; 67% of leasing activity; and has almost half of the space currently under construction in the metro region.
- Atlanta’s big-box market is anticipated to see moderation as it relates to net absorption totals this year. Overall dynamics and trends remain encouraging though.