ATLANTA INDUSTRIAL REPORT
Snapfinger/I-20 East Industrial Submarket
Q2 2022
Rates Rising, Vacancy Remaining Low for Snapfinger/I-20 East
ABSORPTION, DELIVERIES AND VACANCY RATE
The Snapfinger/I-20 East Industrial Submarket saw negative absorption of 203,348 square feet in Q2, but still boasts low vacancy, rising rental rates, and an increase in construction. One of Atlanta’s smaller major submarkets at just 45 million square feet of supply, Snapfinger/I-20 East is more susceptible to one large move changing the absorption figure than most Atlanta submarkets. The submarket’s vacancy rate sits at 4.1%, in-line with what the submarket has seen since 2016. Rental rates have begun to rapidly increase in the Snapfinger/I-20 East submarket, with average asking rates rising 8.4% since Q1, and increasing 47.3% over the past year. This momentum is expected to continue into Q3, as the average rate should push past the $6.00 mark.
1,800,000
8.0%
1,600,000
7.0%
1,400,000
6.0%
1,200,000
5.0%
1,000,000 4.0% 800,000 3.0%
600,000
2.0%
400,000
1.0%
200,000 0
2017
2018
2019
Absorption
2020
Deliveries
2021
2022 YTD
0.0%
Source: CoStar
Vacancy Rate
SNAPFINGER/I-20 E IND
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
26,175,421
4.4%
3.6%
(203,348)
(169,167)
-
1,063,425
$5.90
“BIG BOX” >250,000 SF
19,276,033
3.7%
3.7%
-
325,000
-
622,800
$4.75
Total
45,451,454
4.1%
3.6%
(203,348)
155,833
-
1,686,252
$5.70
SNAPFINGER/I-20 EAST INDUSTRIAL RECENT LEASES Tenant Kenco Group
Property
Owner/Developer
Sign Date
SF
Lease Type
2420 Old Covington Hwy
Lincoln Property Company
Mar 2022
288,477
New Lease
2800 Miller Rd
Dermody Properties Inc.
Jun 2022
154,440
New Lease
14108 Lochridge Blvd
Pattillo Construction
May 2022
75,553
New Lease
The TJX Companies Nisshinbo Group Shipping
SNAPFINGER/I-20 EAST INDUSTRIAL RECENT INVESTMENT SALES Property
Price
SF
$/SF
Date
Buyer
2016 Gees Mill Rd
$41,000,000
467,937
$87.62
3/2/2022
Ashley Capital
1995 Lithonia Industrial Blvd
$21,200,000
210,858
$100.54
4/1/2022
STAG Industrial
801 Blacklawn Rd
$12,758,642
111,540
$114.39
7/28/2022
Faropoint
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