ATLANTA INDUSTRIAL REPORT
I-20 West/Fulton Industrial Submarket
Q1 2022
Low Vacancy as Development Continues to Boom in I-20 West/Fulton Industrial
ABSORPTION, DELIVERIES AND VACANCY RATE 4,500,000
7.0%
4,000,000
The I-20 West/Fulton Industrial submarket saw positive absorption of 308,911 square feet in Q1 of 2022, the fifth-consecutive quarter of positive absorption for the submarket. With positive absorption of over 3.5 million square feet in the past 12 months, I-20 West/Fulton Industrial boasts a microscopic 1.9% vacancy rate, the lowest of any Atlanta industrial submarket. The vacancy rate has fallen 360 basis points (3.6%) since the start of 2019. With such little vacant supply, development has increased, with 6 buildings totaling 3,486,308 square feet breaking ground in Q1. This brings the total space under construction in the submarket to 21 buildings totaling 6,794,160 square feet. This represents 14.7% of the total under construction space across the Metro Atlanta industrial market.
I-20 WEST/FULTON IND <250,000 SF “BIG BOX” >250,000 SF Total
6.0%
3,500,000 5.0% 3,000,000 2,500,000
4.0%
2,000,000
3.0%
1,500,000 2.0% 1,000,000 1.0%
500,000 0
2017
2018
2019
Absorption
2020
Deliveries
2021
2022 YTD
0.0%
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)
58,456,154
2.8%
3.0%
121,826
1,483,801
808,310
1,126,600
$5.09
52,127,733
0.9%
0.8%
187,085
2,017,709
1,287,662
5,667,560
$5.79
110,580,905
1.9%
2.0%
308,911
3,501,510
2,094,972
6,794,160
$5.18
I-20 WEST/FULTON INDUSTRIAL RECENT LEASES Tenant Clark Equipment
Property
Owner/Developer
Sign Date
SF
Lease Type
1850 Oak Lawn Ave
Crow Holdings
Jan 2022
396,264
New Lease
Porter Logistics
650 Selig Dr
EQT Exeter
May 2022
264,788
Sublease
All Points
190 Selig Dr
Levitt Properties
Jan 2022
150,739
New Lease
I-20 WEST/FULTON INDUSTRIAL RECENT INVESTMENT SALES Property
Price
SF
$/SF
Date
Buyer
5900 Plummer Rd
$41,042,702
221,113
$185.62
12/20/2021
Ares Real Estate Management
7450 Factory Shoals Rd
$38,850,000
254,100
$152.89
4/28/2022
Blackstone
$35,138,175
280,655
$125.11
12/20/2021
Ares Real Estate Management
5800 Plummer Rd
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