ATLANTA INDUSTRIAL REPORT
North Central Atlanta Industrial Submarket
Q1 2022
Solid Start to 2022 for North Central Atlanta, Vacancy Rate Falling
ABSORPTION, DELIVERIES AND VACANCY RATE 600,000
8.0% 7.0%
500,000
The North Central Atlanta Industrial submarket posted its seventhconsecutive quarter with positive absorption, seeing 407,202 square feet of gains in Q1 of 2022. The submarket has seen positive absorption of 724,448 square feet over the past 12 months, representing 3.7% of the existing inventory. North Central Atlanta has the smallest inventory of any Atlanta industrial submarket, with just 19.4 million square feet of existing supply. The submarket currently has 5 buildings totaling 656,365 square feet under construction, 3.4% of the existing inventory. The submarket’s vacancy rate fell 210 basis points (2.1%) in Q1 thanks to positive absorption and no Q1 2022 deliveries.
6.0% 400,000
5.0%
300,000
4.0% 3.0%
200,000
2.0% 100,000
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)
16,884,740
2.7%
5.1%
407,202
724,448
291,625
656,365
$8.91
“BIG BOX” >250,000 SF
2,537,401
0.0%
0.0%
-
-
-
-
-
Total
19,422,141
2.3%
4.4%
407,202
724,448
291,625
656,365
$8.91
NORTH CENTRAL ATL IND <250,000 SF
NORTH CENTRAL ATLANTA INDUSTRIAL RECENT LEASES Tenant
Property
Owner/Developer
Sign Date
SF
Lease Type
Cennox
1015 Windward Ridge Pky
Berkeley Partners
Dec 2021
96,900
New Lease
International Trade Imports ISS, LLC
253 Castleberry Industrial Dr
Brama LLC
Apr 2022
40,000
Sublease
1880 McFarland Rd
Blackstone
Feb 2022
25,200
New Lease
NORTH CENTRAL ATLANTA INDUSTRIAL RECENT INVESTMENT SALES Property
Price
SF
$/SF
Date
Buyer
Shiloh Technology Center
$61,363,000
411,408
$149.15
6/10/2021
KKR
Northfield Business Center
$24,500,000
134,292
$182.44
11/19/2021
GID Investment Advisors
$12,294,531
100,125
$122.79
12/20/2021
EverWest Real Estate Investors
1775 Founders Pky
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.
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