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