Given its place as the hub of the Southeast, it’s no surprise Atlanta’s industrial market has experienced significant rent growth over the past five years. The more telling trend, however, lies in how lease structures have evolved. Following an initial increase in 2022, landlords have largely held firm on annual escalations even as face rents have risen materially. At the same time, concessions, namely tenant improvement (TI) allowances and free rent, have been used more actively to bridge the gap between pricing expectations and tenant demand. This was a deliberate owner strategy to preserve long-term income growth while maintaining leasing momentum in Atlanta’s more competitive environment.