ATLANTA INDUSTRIAL REPORT
I-75 South Industrial Submarket
Q3 2022
Strong Q3 for I-75 South Industrial as Construction Booms
ABSORPTION, DELIVERIES AND VACANCY RATE 16%
10,000,000 9,000,000
The I-75 South Industrial submarket saw positive absorption of 980,259 square feet in Q2, bringing the year-to-date figure for the submarket to nearly 2 million square feet. I-75 South Industrial’s vacancy rate fell 30 basis points (0.3%) in Q3, finishing at 3.2%. This is the second-lowest vacancy rate that the submarket has seen in over 20 years and represents a 230 basis point (2.3%) fall in vacancy rate from Q1 of 2022. There have been 5 buildings totaling 2.1 million square feet deliver this calendar year, with a further 9 buildings totaling 5.2 million square feet of under construction. This is the most supply that has ever been under construction in the I-75 South Industrial Submarket.
14%
8,000,000 12% 7,000,000 10%
6,000,000 5,000,000
8%
4,000,000
6%
3,000,000 4% 2,000,000 2%
1,000,000 0
2017
2018
2019
Absorption
2020
Deliveries
2021
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
16,964,792
3.3%
1.8%
(43,537)
64,067
210,560
449,240
$5.28
“BIG BOX” >250,000 SF
53,476,534
3.1%
4.0%
1,026,796
1,935,365
1,917,711
4,801,948
$4.94
Total
70,441,326
3.2%
3.5%
980,259
1,999,432
2,128,271
5,251,188
$5.14
I-75 SOUTH IND
I-75 SOUTH INDUSTRIAL RECENT LEASES Tenant Dollar General Conn’s HomePlus
Property
Owner/Developer
Sign Date
SF
Lease Type
500 Business Center Dr
Growth Capital Partners
Aug 2022
712,040
New Lease
Clayton 75 Logistics Center
Hillwood Development
Jul 2022
705,833
New Lease
201 Greenwood Ct
Blackstone
Nov 2022
395,000
New Lease
Caterpillar
I-75 SOUTH INDUSTRIAL RECENT INVESTMENT SALES Property
Price
SF
$/SF
Date
Buyer
Trade Center I & 2
$72,500,000
830,369
$87.31
2/3/2022
KKR
500 Business Center Dr
$46,250,000
712,040
$64.95
3/15/2022
Growth Capital Partners
1420 Greenwood Rd
$28,000,000
296,972
$94.29
7/7/2022
United States Cold Storage
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