Industrial

The final quarter of 2023 ended with an industrial supply surge of 8.3 MSF, lifting the Savannah vacancy rate to 8.9%. Savannah’s development pipeline remains substantial at nearly 10 MSF under construction, though groundbreakings had a 67% decrease year-over-year. Leasing activity ended the year strong at 4.2 MSF leased and overall net absorption for the quarter was 5.7 MSF, bringing year-to-date absorption to 15.3 MSF, a 19% increase over 2022. Despite short-term challenges, developers, investors,…

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…

Below is the Lee & Associates – Atlanta availability tracker for December 2023. We continue to collect valuable data and share it with our clients so they can see the real-time dynamics of the Atlanta Industrial Market. Of note for December 2023: Overall availability dropped to 82.56 MSF in December due in part to two large leases in South Atlanta including: Yita leased 472,767 SF at 200 Metcalf Road in Forest Park GXO renewed 498,258…

While Savannah’s vacancy rate trended upward from record lows due to new industrial supply hitting the market this year, tenant demand rose with 2.4 million SF of deals signed in Q3, more than double the square footage leased last quarter. Net absorption increased to 3.3 million SF, bringing year-to-date 2023 net absorption to 9.6 million SF. With ongoing demand and continued growth at the Georgia Ports, Savannah sees no slowdown for additional development in the…

As expected, Atlanta’s industrial market saw an uptick in vacancy in the third quarter as a record amount of inventory delivered. Still, a healthy market, overall net absorption was back in the positive and surged in Q3 to 3.3 million SF. Overall leasing activity has dwindled quarter-over-quarter from record highs. However, sublease availability has begun to cool, rising only 8.9% since last quarter after rising 37% in the first half of the year. Industrial construction…

CLICK TO DOWNLOAD & PRINT

This Week’s Atlanta Deal Sheet: Storage Startup Taking Space At Westside Provisions – spotlights Tyler Flemming and Craig Viergever, SIOR. Electrical engineering firm EAE USA leased 102K SF of warehouse space with Blackstone subsidiary Link Logistics in Tucker. The firm signed a seven-year lease for the entire building at 2000 Mountain Industrial Blvd. Lee & Associates Executive Vice Presidents Craig Viergever and Tyler Flemming brokered the deal for the landlord, Link Logistics. Transwestern Real Estate…