South Atlanta sees first negative quarter in 4.5 years

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SouthAtlanta_2019

South Atlanta had its first quarter of negative absorption in 4.5 years. Newell Rubbermaid's vacancy of 745,000 square feet was the largest move-out in Q1 and helped contribute to the occupancy loss.

Key Takeaways

  • The negative activity, in conjunction with newly delivered space, resulted in the submarket's vacancy rate increasing 160 basis points (1.6%) quarter-over-quarter. The rate is above 10% for the first time in two years. Most of the vacant space was added in the 85 South/Airport area. 
  • Despite the off quarter, warehouse leasing activity was the strongest it has been in two years. Amazon alone has been very active in South Atlanta, and continues to scout more locations.
  • Heading into second quarter, uncertainty has entered the commercial real estate market as COVID-19 has shut down business activity. South Atlanta, however should weather the storm given its ideal location for logistics providers, and also the many locations available to e-commerce activity.

1Q20_IND_SAtlanta

South Atlanta sees 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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