Q2 2022 I-20 West/Fulton Industrial Submarket Report

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ATLANTA INDUSTRIAL REPORT

I-20 West/Fulton Industrial Submarket

Q2 2022

Construction Grows, Vacancy Stays Low in I-20 West/Fulton Industrial

ABSORPTION, DELIVERIES AND VACANCY RATE 6,000,000

7.0%

6.0%

5,000,000

The I-20 West/Fulton Industrial saw positive absorption of 222,388 square feet in Q2 of 2022, the sixth-consecutive quarter with positive absorption for the submarket. The major move for the submarket in Q2 was MBS Equipment occupying 124,109 square feet at 3610 Atlanta Industrial Dr. With positive absorption of nearly 2.4 million square feet over the past 12 months, I-20 West/Fulton Industrial has seen its vacancy rate plummet to just 2.1%, the lowest rate of any major Atlanta industrial submarket. With such little vacant supply, development has increased, with 9 buildings totaling over 3.1 million square feet breaking ground in 2022. This brings the total space under construction in the submarket to 22 buildings totaling 6,545,054 square feet.

5.0% 4,000,000 4.0% 3,000,000 3.0% 2,000,000 2.0% 1,000,000

1.0%

0

2017

2018

2019

Absorption

2020

Deliveries

2021

0.0%

2022 YTD

Source: CoStar

Vacancy Rate

Inventory SF

Vac Rate Q2 ’22

Vac Rate Q1 ‘22

Net Absorp Q2 ‘22

Net Absorp YTD

Deliveries YTD

SF Under Construction

Avg Rent (NNN)

<250,000 SF

58,667,429

2.8%

2.7%

17,833

206,873

90,295

1,346,321

$5.70

“BIG BOX” >250,000 SF

52,736,966

1.4%

0.9%

204,555

391,640

722,927

5,198,733

$5.79

Total

111,404,395

2.1%

1.8%

222,388

598,513

813,222

6,545,054

$5.72

I-20 WEST/FULTON IND

I-20 WEST/FULTON INDUSTRIAL RECENT LEASES Tenant ASOS

Property

Owner/Developer

Sign Date

SF

Lease Type

545 Lake Careco Rd

Oakmont Industrial Group

May 2022

468,827

New Lease

Waste Pro USA

4785 Fulton Industrial Blvd

EverWest Real Estate

Jun 2022

342,400

New Lease

Porter Logistics

650 Selig Dr

EQT Exeter

May 2022

264,788

Sublease

I-20 WEST/FULTON INDUSTRIAL RECENT INVESTMENT SALES Property 7450 Factory Shoals Rd

Price

SF

$/SF

Date

Buyer

$38,850,000

254,100

$152.89

4/28/2022

Blackstone

$24,512,913

342,400

$71.59

6/9/2022

EverWest Real Estate

$10,250,000

76,274

$134,38

3/17/2022

Circle Industrial

4785 Fulton Industrial Blvd 2175 Sweetwater Ind Blvd

Lincoln Property Company Atlanta tracks industrial buildings that are 25,000 sf or greater.

Lincoln Southeast Industrial Available Listings

Forsyth 400 Commerce Forsyth 400 Commerce Center Center Bldg 100 Bldg 200

Airport West 500

Joe Frank Harris Pkwy SE

2705-2715 Ronald Reagan 2705-2715 Ronald Reagan 3625 Naturally Fresh Blvd, Joe Frank Harris Pkwy SE, Blvd, Cumming, GA Blvd, Cumming, GA Atlanta, GA Emerson, GA

Conyers Logistics Center

170 Chastain Meadows

Westridge Logistics Center

2107 Eastview Pky, Conyers GA

170 Chastain Meadows Ct NW, Kennesaw GA

450 Westridge Pkwy, McDonough, GA

141,986 SF

110,197 SF

218,370 SF

306,376 SF

201,600 SF

38,400 SF

113,104 SF

Delivering Q3 2022

Delivering Q3 2022

Delivering Q3 2022

Delivering Q2 2023

Existing

Existing

Existing

Need More Market Intel?

Spencer Papciak

Turner Fortin

Lincoln Property Company Southeast

Research Manager 678.498.7676 spapciak@lpc.com

Vice President 404.863.9931 tfortin@lpc.com

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


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