ATLANTA INDUSTRIAL REPORT
Northwest Atlanta Industrial Submarket
Q2 2022
Another Strong Quarter as Construction Booms in Northwest Atlanta
ABSORPTION, DELIVERIES AND VACANCY RATE 8.0%
6,000,000
Northwest Atlanta bounced back in Q2, seeing positive absorption of 1,520,339 square feet, the submarket’s second-most positive absorption in a quarter of all time, behind only Q4 of 2021. Despite the record-setting positive absorption, Northwest Atlanta has seen its vacancy rate rise thanks to large amounts of new deliveries. Since the start of Q4 there has been over 5.8 million square feet of new supply in the submarket. Leasing momentum has been strong, and this is a case where many spaces have been accounted for but not yet occupied by a tenant: the amount of available square feet in Northwest Atlanta is lower than the amount of vacant square feet. As construction delays lessen and tenants move in, expect Northwest Atlanta’s vacancy to fall back to its historical range over the past 5-10 years.
7.0%
5,000,000
6.0% 4,000,000
5.0% 4.0%
3,000,000
3.0%
2,000,000
2.0% 1,000,000
0
1.0%
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
55,865,513
2.5%
3.7%
705,950
518,943
207,989
1,955,333
$6.43
“BIG BOX” >250,000 SF
28,375,542
11.5%
9.5%
814,389
814,389
3,707,319
9,329,255
$4.92
Total
84,241,055
5.5%
5.6%
1,520,339
1,333,332
3,915,308
11,284,588
$5.80
NORTHWEST ATL IND
NORTHWEST ATLANTA INDUSTRIAL RECENT LEASES Tenant Bergen Logistics
Property
Owner/Developer
Sign Date
SF
Lease Type
7575 Cobb International Blvd
Oakmont Industrial Group
May 2022
484,323
New Lease
NPS Ceva Logistics
86 Carson Loop
Hillwood Development
Jun 2022
340,284
New Lease
934 Peeples Valley Rd
Transwestern Development
Aug 2022
250,874
New Lease
NORTHWEST ATLANTA INDUSTRIAL RECENT INVESTMENT SALES Property
Price
SF
$/SF
Date
Buyer
Bartow Commerce Center 1 & 2
$85,270,000
724,000
$117.78
12/28/2021
LXP Industrial Trust
800 Cassville White Rd
$48,800,000
376,980
$129.45
5/26/2022
KKR
1000 Union Ct
$18,304,000
173,587
$105.45
5/4/2022
High Street Realty Co.
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