Q1 2022 ATLANTA INDUSTRIAL MARKET REPORT

The Atlanta Industrial market continues to see tremendous growth as we enter 2022. Net absorption has dipped to 2.9 MSF in Q1-2022 due to supply delays for racking systems and interior buildouts. The consistently low vacancy rates have allowed landlords to push the average asking rental rate over 10% in the last year as it currently sits at $7.10 per square foot. The under-construction pipeline has increased dramatically in the last year as it has ballooned from 26.2 MSF in Q1-2021 to 47.4 MSF in Q1-2022. The small increase in vacancy of 30 basis points is understandable given that the total inventory of the market has increased over 7 MSF from Q4-2021 to Q1-2022. The Atlanta industrial market will steadily grow for the foreseeable future as tenants continue to seek: the substantial discount from East and West Coast distribution hubs, tailwinds from the growing Port of Savannah and strong local demographic trends.

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