Atlanta Industrial Figures Report - Q3 2023
October 10, 2023 10 Minute Read
‒Demand cools down from pandemic highs as Q3 shows leasing activity decreasing 78% year-over-year and net absorption down 62% over the same time.
‒Atlanta's industrial market experienced a record breaking 12.7-million sq. ft. of space delivered this quarter, with 98% being in speculative development.
‒The vacancy rate in Q3 increased by 130 bps to 5.8%, the highest it has been since Q4 2020. This is largely due to record deliveries as most of the space remains unoccupied.
‒The average NNN lease rate for Atlanta industria increased by 1.7% quarter-over-quarter, a result of continued demand and the addition of modern product.