October 2024 | Market Brief
Industrial development activity reached its peak in early 2022, with more than 46 million square feet being constructed at the time. Today, less than 10 million square feet is currently underway, marking a construction peak-to-trough timeline of roughly 2.5 years. The about-face and rapid deceleration is remarkable on its own, but it’s paired with another recent trend – an increase in leasing activity. While increasing from a smaller base than at earlier periods this cycle,…
LEE IN THE NEWS: Lee Atlanta’s Team Negotiates Sale of Newly Constructed 163,170 SF Distribution Facility in Lawrenceville
October 4, 2024 (Atlanta, Georgia) – Joseph Mullican, Craig Viergever & Tyler Flemming of Lee & Associates negotiated the sale of 1500 Progress Industrial Blvd. in Lawrenceville. The 163,170 SF newly constructed shell building was developed by Taylor & Mathis. The purchaser, a private company, will use the building for their expanded distribution operations after constructing ±3,000 SF of office area and upfitting the building with dock equipment and racking. Read More on Metro Atlanta…
Q3 2024 Atlanta Market Reports
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Availability & Sublease Tracker | October 2024
The dwindling construction pipeline is starting to reduce the availability of new industrial space Overall availability (all building sizes) in Atlanta has declined for the third consecutive month, though it remains about 16% higher than one year ago Sublease availability sits at 12-month low of 9.4 MSF, and has declined by more than 2 MSF since year-end 2023 Sublease availability for buildings over 250,000 SF has declined for the past four months and is…
LEE IN THE NEWS: Honored As One of Best Places To Work In Atlanta For The Fourth Consecutive Year
August 29, 2024 (Atlanta, Georgia) – For the fourth consecutive year, Lee & Associates – Atlanta is thrilled to be recognized on the Atlanta Business Chronicle’s “Best Places to Work” list. Our team is the heart of our company, and we take immense pride in each and every one of them. At Lee Atlanta, we continuously assess our culture to ensure we uphold the genuine, supportive, and energetic environment that has defined our firm over…
Availability & Sublease Tracker | September 2024
The Atlanta industrial market remains strong, with sublease availability declining by 196,285 SF in September 2024. The continued declining trend reflects robust leasing activity that has kept demand high, reducing the amount of available space. Overall market availability, which includes under-construction projects, sublease and vacant spaces, and occupied spaces being marketed, has also dropped, indicating an active market. Although construction activity in Atlanta has reached its lowest point in a decade, there are signs…