Atlanta Industrial Big-Box Report Q3 2023

Key Takeaways

 

—While positive, Atlanta's total big-box net absorption over the past two quarters was only slightly above the amount in Q1. This highlights the moderation taking place in the market as occupancy gains have deciined 54% from the pandemic high at this time of the year in 2021.

—Following a slow start, big-box leasing picked up in Q3. Most of the demand, however, has been isolated to spaces below 750,000 square feet. There has been no leasing for anything larger.

—Big-box inventory grew by a record 11.7-million square feet in Q3. This amount will likely be surpassed in the final quarter of the year as even more space delivers.

 

—The increase in Atlanta's big-box rents can be mostly attributed to a sustained demand for spaces below 500,000 square feet.