Research

The rapid growth in goods spending and increased imports to the fast-growing Port of Savannah has led to record demand for industrial space. After decreasing for three consecutive quarters, vacancy has increased to 2.7% in Q1 due to the timing of new deliveries. Leasing activity rebounded in Q1 with record absorption after a considerable slowdown in the second half of 2022. The largest leasing transaction for the quarter was a 1,231,693 SF building to be…

Although there is a sustained demand for industrial space in Atlanta, the market activity during Q1 2023 has shown a deceleration. Vacancies have risen slightly off of record lows, ending Q1 with a 50-basis point jump to 4.5%. Overall net absorption fell, with just under 2 million SF newly occupied. While activity cooled in Q1, the rise in sublease space during the Fall of 2022 has subsided and overall availability levels have stabilized. Despite Atlanta’s…

Despite an overall slowing of office fundamentals nationally, Atlanta’s office market has posted positive overall activity for four consecutive quarters. Vacancy ended Q1 at 18.4%, a 10-basis point decrease from the previous quarter. Net absorption, while not as robust as quarters past, was in the positive thanks to major tenant move ins from Zaxby’s (51,493 SF) and TSA (44,000 SF) in the Central Perimeter and South Atlanta submarkets. Increasing interest rates and macroeconomic concerns placed…

For the first time since the beginning of the COVID pandemic, market fundamentals reflect that the expansion phase of the most recent development cycle is coming to an end. Capital market constraints, costs of construction, and uncertainty of future tenant demand are all factors in the development slowdown. Many of the nation’s leading banks have ceased construction loans for new projects and many equity players are on the sideline until there is clarity on exit…