ATLANTA INDUSTRIAL REPORT
North Central Atlanta Industrial Submarket
Q2 2022
Rates Rising, Vacancy Falling as North Central Atlanta Continues Momentum
ABSORPTION, DELIVERIES AND VACANCY RATE 600,000
The North Central Atlanta Industrial submarket saw slight negative absorption in Q2 of 2022 but is still positive year-to-date, boasting a microscopic vacancy rate. The submarket has seen positive absorption of 377,337 square feet year-to-date and 589,882 square feet over the past 12 months. The vacancy rate has fallen 160 basis points (1.6%) in that 12-month period, finishing Q2 at just 2.5%. Of buildings in the submarket larger than 250,000, the vacancy rate was 0%, with all the big box product in North Central Atlanta fully leased. 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. Rates have risen sharply in the submarket over the past year, with a 37.4% increase in asking rents from one year ago. NORTH CENTRAL ATL IND <250,000 SF “BIG BOX” >250,000 SF Total
8.0% 7.0%
500,000
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 Q2 ‘22
Vac Rate Q1 ‘22
Net Absorp Q2 ‘22
Net Absorp YTD
Deliveries YTD
SF Under Construction
Avg Rent (NNN)
16,893,622
2.9%
2.7%
(29,865)
377,337
-
656,365
$9.77
2,537,401
0.0%
0.0%
-
-
-
-
-
19,431,023
2.5%
2.3%
(29,865)
377,337
-
656,365
$9.77
NORTH CENTRAL ATLANTA INDUSTRIAL RECENT LEASES Tenant
Property
Owner/Developer
Sign Date
SF
Lease Type
1775 Founders Pky
EverWest Real Estate
Jun 2022
100,125
New Lease
253 Castleberry Industrial Dr
Brama LLC
Apr 2022
40,000
Sublease
2440 Oak St
Dilip Tunki
Jun 2022
20,000
New Lease
AC White Relocations International Trade Imports Bio Gymnastics
NORTH CENTRAL ATLANTA INDUSTRIAL RECENT INVESTMENT SALES Property Northfield Business Center
Price
SF
$/SF
Date
Buyer
$24,500,000
134,292
$182.44
11/19/2021
GID Investment Advisors
1775 Founders Pky
$12,294,531
100,125
$122.79
12/20/2021
EverWest Real Estate Investors
1410 Oak Industrial Ln - Bldg 3
$6,170,000
65,000
$94.92
4/12/2022
FCS Automotive International
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