ATLANTA INDUSTRIAL REPORT
I-75 South Industrial Submarket
Q1 2022
Activity Strong and Future Bright for I-75 South Despite Goodyear Move-Outs
ABSORPTION, DELIVERIES AND VACANCY RATE 10,000,000
After reaching a 20-year low vacancy rate in Q4 of 2021 at 3.1%, the I-75 South Industrial submarket saw its vacancy rate rise to 5.6% in Q1 of 2022 thanks to two large known move-outs. I-75 South Industrial saw its first negative quarter in nearly two years, with negative absorption of (752,455). This is thanks to two long-scheduled move outs by Goodyear Tire & Rubber Company: they vacated 710,541 square feet at 500 Business Center Dr, and left 570,586 square feet at 201 King Mill Ct. Goodyear is staying in the Atlanta market, moving to a facility outside of Newnan in the Airport/I-85 South Industrial submarket. Long-term prospects for I-75 South Industrial are positive, with an absorption rebound expected in Q2.
16% 14%
8,000,000
12% 6,000,000
10%
4,000,000
8% 6%
2,000,000
4% 0
2%
‐2,000,000
2017
2018
2019
Absorption
2020
Deliveries
2021
0%
2022 YTD
Source: CoStar
Vacancy Rate
I-75 SOUTH IND
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
16,621,118
2.4%
2.5%
6,680
384,930
205,200
659,800
$3.88
52,600,723
6.6%
3.3%
(759,135)
3,667,565
1,427,360
4,306,270
$3.83
69,221,841
5.6%
3.1%
(752,455)
4,056,895
1,632,560
4,966,070
$3.84
“BIG BOX” >250,000 SF Total
I-75 SOUTH INDUSTRIAL RECENT LEASES Tenant
Property
Owner/Developer
Sign Date
SF
Lease Type
Home Depot
3090 Highway 42
Granite REIT
May 2022
251,299
New Lease
Project Verte
535 Macon St
Chris Ni
Apr 2022
83,700
New Lease
450 Westridge Pky
Mapletree
Dec 2021
70,560
Sublease
Wesco Aircraft Hardware
I-75 SOUTH INDUSTRIAL RECENT INVESTMENT SALES Property
Price
SF
$/SF
Date
Buyer
Trade Center I & 2
$72,500,000
830,369
$87.31
2/3/2022
KKR
500 Business Center Dr
$46,250,000
712,040
$64.95
3/15/2022
Growth Capital Partners
2823 Anvil Block Rd
$20,700,000
269,890
$76.70
12/16/2021
AEW Capital Management
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