ATLANTA INDUSTRIAL REPORT
Airport/I-85 South Industrial Submarket
Q1 2022
Record-Breaking Absorption and Vacancy Rate in Q4 for Airport/I-85 South
ABSORPTION, DELIVERIES AND VACANCY RATE 9.0%
14,000,000
8.0%
12,000,000
Atlanta’s second-largest industrial submarket saw positive absorption of 1,502,964 square feet in Q1 of 2022, bringing the submarket’s running 12-month total to nearly 10 million square feet. Airport/I-85 South is still a development hub, with 6 buildings totaling 3,619,515 square feet delivering in Q1, and over 12.1 million square feet of product delivering since the start of 2021. Most of these Q1 deliveries were spec product, thus raising the submarket’s vacancy rate, even in the face of positive absorption. The submarket is not scarce for activity though, with over 3 million square feet of leases signed in Q1. More new product is on the way as well, with over 8.1 million square feet currently under construction.
7.0% 10,000,000 6.0% 8,000,000
5.0%
6,000,000
4.0% 3.0%
4,000,000 2.0% 2,000,000
1.0%
0
2017
2018
2019
Absorption
2020
Deliveries
2021
0.0%
2022 YTD
Source: CoStar
Vacancy Rate
Inventory SF
Vac Rate Q1 ‘22
Vac Rate Q4 ‘21
Net Absorp Q1 ‘22
Net Absorp Last 12 Mos
Deliveries Last 12 Mos
SF Under Construction
Avg Rent (NNN)
<250,000 SF
54,350,914
5.0%
4.1%
(258,606)
1,610,156
1,320,980
1,731,583
$5.45
“BIG BOX” >250,000 SF
88,196,740
5.1%
3.4%
1,761,570
8,339,866
7,186,738
6,458,444
$3.87
142,547,654
5.1%
3.7%
1,502,964
9,950,022
8,507,718
8,190,027
$4.42
AIRPORT/I-85 S IND
Total
AIRPORT/I-85 SOUTH INDUSTRIAL RECENT LEASES Tenant
Property
Owner/Developer
Sign Date
Owens Corning
8095 McLarin Rd
Clarion Partners
Mar 2022
1,044,288
Renewal
DG Distribution
1057 Coweta Industrial Pky
Crow Holdings
Apr 2022
1,001,000
New Lease
200 Metcalf Rd
TA Realty
Apr 2022
909,509
New Lease
Spreetail
SF
Lease Type
AIRPORT/I-85 SOUTH INDUSTRIAL RECENT INVESTMENT SALES Property
Price
SF
$/SF
Date
Buyer
Prologis Orchard Hills Bldg 200
$135,000,000
1,514,040
$89.17
1/13/2022
Stonemont Financial Group
280 Bridgeport Blvd - Bldg A
$58,500,000
562,650
$103.79
2/25/2022
Eaton Vance Real Estate
3435 Jonesboro Rd SE
$30,400,000
201,989
$150.50
3/4/2022
Fundrise
Lincoln Property Company Atlanta tracks industrial buildings that are 25,000 sf or greater.
Lincoln Southeast Industrial Available Listings
Forsyth 400 Commerce Center Forsyth 400 Commerce Center Bldg 100 Bldg 200 2705-2715 Ronald Reagan Blvd, 2705-2715 Ronald Reagan Blvd, Cumming, GA Cumming, GA
Airport West 500
Joe Frank Harris Pkwy SE
Conyers Logistics Center
3625 Naturally Fresh Blvd, Atlanta, GA
Joe Frank Harris Pkwy SE, Emerson, GA
2107 Eastview Pky, Conyers GA
141,986 SF
110,197 SF
218,370 SF
306,376 SF
201,600 SF
Delivering Q3 2022
Delivering Q3 2022
Delivering Q3 2022
Delivering Q2 2023
Existing
Need More Market Intel?
Spencer Papciak Research Manager 678.498.7676 spapciak@lpc.com
Turner Fortin Leasing Associate 404.863.9931 tfortin@lpc.com
Lincoln Property Company Southeast 3405 Piedmont Road, Suite 450 Atlanta, GA 30305 404 266 7600
The information contained herein has been obtained from the owner of the property or from a source deemed reliable. While Lincoln Property Company has no reason to doubt its accuracy, we do not guarantee it.
lpcsoutheast.com