ATLANTA INDUSTRIAL REPORT
Northeast Atlanta Industrial Submarket
Q1 2022
Momentum Strong as Northeast Atlanta Leads Market in Construction
ABSORPTION, DELIVERIES AND VACANCY RATE 12,000,000
9.0% 8.0%
10,000,000
Atlanta’s largest industrial submarket saw positive absorption of over 1.1 million square feet in Q1 to start 2022. This brings the submarket’s 12-month total to positive absorption of 9.4 million square feet, the second-highest absorption figure in the Metro Atlanta industrial market over that period, behind only Airport/I-85 South Industrial. Northeast Atlanta does lead the market in space under construction, with over 18.2 million square feet under construction thanks in part to 10 buildings totaling 4,230,683 square feet breaking ground in Q1. The submarket’s vacancy rate fell 20 basis points (0.2%) to 3.1% in Q1, 90 basis points (0.9%) the market-wide vacancy rate of 4.0%.
7.0% 8,000,000
6.0% 5.0%
6,000,000 4.0% 4,000,000
3.0% 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)
110,313,610
1.8%
2.2%
559,702
4,398,482
2,220,250
2,968,351
$6.14
“BIG BOX” >250,000 SF
82,540,640
4.8%
4.8%
614,504
5,023,959
1,884,410
15,235,879
$4.70
Total
192,854,250
3.1%
3.3%
1,174,206
9,422,441
4,104,660
18,204,230
$5.30
NORTHEAST ATL IND <250,000 SF
NORTHEAST ATLANTA INDUSTRIAL RECENT LEASES Tenant
Property
Sherwin Williams Progressive Lighting Halco Lighting
Owner/Developer
Sign Date
SF
Lease Type
950 Sherwin Pky
Prologis
May 2022
261,396
New Lease
3312 N Berkeley Lake Rd
Glen Una Mgmt Co
Apr 2022
215,690
New Lease
2940 Pacific Dr
Hartz Mountain Industries
Apr 2022
103,711
Renewal
NORTHEAST ATLANTA INDUSTRIAL RECENT INVESTMENT SALES Property
Price
SF
$/SF
Date
Buyer
1380 Jesse Cronic Rd
$56,500,000
589,680
$95.81
12/29/2021
Cabot Properties
2520 Riverside Pky
$55,400,000
367,060
$150.93
12/22/2021
BentallGreekOak
2800 Vista Ridge Dr
$37,300,000
252,092
$147.96
4/4/2022
KKR
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