ATLANTA INDUSTRIAL REPORT
Airport/I-85 South Industrial Submarket
Q3 2022
Q3 Solid, Momentum Building in Airport/I-85 South Industrial
ABSORPTION, DELIVERIES AND VACANCY RATE
Atlanta’s second-largest industrial submarket saw positive absorption of 946,135 square feet in Q3 of 2022. Despite this gain, the submarket’s vacancy rate rose 130 basis points thanks to a large amount of new supply delivering. 6 buildings totaling over 3 million square feet finished construction in Q3, most of which were pre-leased. These tenants will occupy space in Q4, as Airport/I-85 South Industrial is expected to close 2022 with a huge quarter. 4 more buildings broke ground in Q3 as there is currently over 8.2 million square feet under construction in the submarket. The highlight move-in for Q3 was Costco occupying 907,000 square feet at 5390 Hunter Rd.
14,000,000
8.0%
12,000,000
7.0% 6.0%
10,000,000
5.0% 8,000,000 4.0% 6,000,000 3.0% 4,000,000
2.0%
2,000,000
1.0%
0
2017
2018
2019
Absorption
2020
Deliveries
2021
0.0%
2022 YTD
Source: CoStar
Vacancy Rate
Inventory SF
Vac Rate Q3 ‘22
Vac Rate Q2 ‘22
Net Absorp Q3 ‘22
Net Absorp YTD
Deliveries YTD
SF Under Construction
Avg Rent (NNN)
<250,000 SF
54,649,665
4.7%
3.7%
(487,461)
20,822
414,742
3,667,435
$6.44
“BIG BOX” >250,000 SF
90,194,695
6.0%
4.4%
1,433,596
2,814,122
5,429,725
4,616,843
$5.25
144,844,360
5.5%
4.2%
946,135
2,834,944
5,844,467
8,284,278
$5.45
AIRPORT/I-85 S IND
Total
AIRPORT/I-85 SOUTH INDUSTRIAL RECENT LEASES Tenant Syncreon Technology UPS Supply Chain
Property
Owner/Developer
Sign Date
SF
Lease Type
7965 Bowen Rd
Becknell Industrial
Aug 2022
686,038
New Lease
3781 Southside Industrial Ct
Prologis
Oct 2022
406,989
Renewal
200 Metcalf Rd
TA Realty
Nov 2022
401,242
New Lease
Covenant Logistics Group
AIRPORT/I-85 SOUTH INDUSTRIAL RECENT INVESTMENT SALES Property
Price
SF
$/SF
Date
Buyer
$134,500,000
1,505,690
$89.33
9/8/2022
Kin Properties
700 Palmetto Logistics Pky - Bldg 3
$81,648,000
1,008,474
$80.96
8/31/2022
Ares Industrial REIT
33 Dart Rd
$20,750,000
104,880
$197.85
5/25/2022
Cargill
1595 Oakley Industrial Blvd
Lincoln Property Company Atlanta tracks industrial buildings that are 25,000 sf or greater.
Lincoln Southeast Industrial Available Listings
Forsyth 400 Commerce Center Bldg 100
Forsyth 400 Commerce Center 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
85,237 SF
43,587 SF
218,370 SF
306,376 SF
201,403 SF
38,400 SF
113,104 SF
Existing
Existing
Delivering Q4 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