Northwest Atlanta industrial experiences its first negative quarter in 4.5 years

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NorthwestATL_2019

The Northwest Atlanta industrial submarket experienced its first negative quarter of absorption in 4.5 years losing 108,000 square feet of tenant occupancy in Q1.

Key Takeaways

  • There were a handful of consolidations, closures and relocations out of the submarket which led to the negative quarter.
  • Despite the occupancy loss, the overall vacancy rate in Northwest Atlanta remains below 5% and has the lowest amount of vacant warehouse space compared to Atlanta's Big 4 submarkets.
  • As of result to the added space, Northwest Atlanta experienced the largest drop in four years to its overall rental rate average.
  • Construction activity is picking up in the submarket despite the occupancy loss this quarter. Availabilities of certain sized properties are in short supply, thus attracting developers to the area.
  • Projected absorption levels for Q2 show another rough quarter in Northwest Atlanta. Some of this could be related to COVID-19.

1Q20_IND_NWest

Northwest Atlanta industrial experiences its first negative quarter in 4.5 years

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Scott Amoson

Director - Research

Atlanta

Scott is the Director of Research for Colliers International in Atlanta, Georgia.  In his role, Scott supports all of the company's brokers in the Atlanta office.  He also manages the Research Associate in the company, and mentors an intern annually during the summer.

Scott began his real estate career in 2000 as a research assistant with Richard Bowers & Co., a local brokerage firm.  He joined Colliers International in Atlanta in 2003.  Scott specializes in aiding the company's clients with geographical, informational and analytical research.  With his extensive knowledge, he provides customized research data including:  market trends, lease and sales comparables, plats/ownership information, demographics, prospect information and economic information.  In addition to supporting the company's brokers and staff, his other responsibilities include compiling and writing quarterly market and submarket newsletters, maintaining the company's internal database of over 10,000 sales and lease transactions, and tracking news/trends related to Atlanta's commercial real estate market.  He is frequently called upon by local news sources for his knowledge and expertise of real estate matters in Atlanta.

As a member of the Colliers International Research Council, he advises on quarterly conference calls and provides valuable input on matters directing the research platform for Colliers International.  Scott was recently selected as the Research Ambassador for the Southeast Region as a part of Colliers International's Centers of Excellence platform.

Scott is a native of Atlanta, and enjoys spending time with his wife Lupe and daughter Sienna.  He is an avid golfer and loves vacationing with family.

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