Atlanta sets record for industrial sq ft construction

According to Colliers North America Big Box report, Atlanta is in for a record-setting year with a record of 21.2 million square-feet currently under construction and leasing activity totaling nearly 16 million square feet in Q2 2021 which puts the market on pace to reach record heights by year-end. And despite 7.1 million square-feet of new bulk space being added to the market’s supply in Q1 2021, vacancy rates continue to decline. Vacancy dipped below 7% for the second time ever in the market’s history.

A breakdown of Atlanta’s industrial big box supply and demand created by the Atlanta research team can be found in the Atlanta Industrial Big-Box Report Fall 2021. The report’s data includes Q3.

Quarterly reportings for the office and industrial were released a month ago – Both asset classes outperformed expectations. Atlanta led the nation in highest quarterly absorption for office space with 2 million square-feet, reaching a more than 20-year high. Industrial is at a record-low vacancy rate of 4.4%. Asking rates increased 3.7% from last quarter and are just a penny shy of $5 per square foot.

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