Q4 2023 Atlanta Industrial Market Report

Overall activity in Atlanta’s industrial market decelerated in the fourth quarter, as over 9 MSF of new industrial space, largely uncommitted, delivered to the market and placed upward pressure on vacancy. Despite this, leasing volume remained relatively stable from Q3 to Q4, a positive sign of continued tenant engagement in the Atlanta market. Furthermore, development activity ended 2023 with 19 MSF under construction, with less than 3 MSF breaking ground in each quarter of the first three quarters of 2023. However, at the end of Q4, Atlanta’s industrial market saw a modest upturn, with 4.6 MSF of new industrial product breaking ground.