Atlanta's big-box market starts 2020 off barely in positive territory

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SouthAtlanta_2019

Following a solid year of activity in 2019, Atlanta's big-box market starts 2020 off barely in positive territory, absorbing a net total of only 56,000 square feet in the first quarter.

Key Takeaways

  • The first quarter was somewhat of an off-period with occupancy activity mostly coming from tenants under 350,000 square feet.
  • The small amount of space absorbed, combined with just over 4.2 million square feet of space delivered, the big-box vacancy rate increased 170 basis points (1.7%) quarter-over-quarter, and 240 basis points (2.4%) year-over year.
  • In spite of the unexpected start, big-box leasing was strong. The market has already seen four transactions over 1 million square feet. Amazon was the most active prospect, accounting for three of the four deals.
  • It is yet unclear how the COVID-19 pandemic might affect Atlanta's big-box market; however, it would appear the metro area's diverse industry makeup could shelter it from an adverse outcome.


Spring20_BigBox2

Atlanta's big-box market starts 2020 off barely in positive territory

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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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