ATLANTA INDUSTRIAL REPORT
North Central Atlanta Industrial Submarket
Q3 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 positive absorption of 36,201 square feet in Q3 of 2022. The submarket has seen year-to-date positive absorption of 413,538 square feet and is boasting a microscopic vacancy rate of just 2.3%. The vacancy rate fell 20 basis points (0.2%) from Q2 and has dropped 130 basis points (1.3%) in the past year. There is over 800,000 square feet of space under construction, with multiple delivered set for Q4. There are four buildings totaling a combined 611,365 square feet that are set to deliver in Q4 of 2022: Forsyth 400 Commerce Center 100 & 200, a development from Lincoln Property Company, and Forsyth Commerce Center 100 & 200 from McDonald Development Company. Rates have risen sharply in the submarket over the past year, with a 41.6% 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 Q3 ‘22
Vac Rate Q2 ‘22
Net Absorp Q3 ‘22
Net Absorp YTD
Deliveries YTD
SF Under Construction
Avg Rent (NNN)
17,016,020
2.6%
2.8%
36,201
413,538
-
816,365
$10.31
2,537,401
0.0%
0.0%
-
-
-
-
-
19,553,421
2.3%
2.5%
36,201
413,538
-
816,365
$10.31
NORTH CENTRAL ATLANTA INDUSTRIAL RECENT LEASES Tenant
Property
Owner/Developer
AC White Relocations
1775 Founders Pky
Rahi Systems
2000 Northfield Ct 253 Castleberry Industrial Dr
International Trade Imports
Sign Date
SF
Lease Type
EverWest Real Estate
Jun 2022
100,125
New Lease
Unibind Inc
Aug 2022
52,631
New Lease
Brama LLC
Apr 2022
40,000
Sublease
NORTH CENTRAL ATLANTA INDUSTRIAL RECENT INVESTMENT SALES Property
Price
SF
$/SF
Date
Buyer
Ascent Data Center
$63,600,000
185,000
$343.78
8/4/2022
Lincoln Rackhouse
Northfield Business Center
$24,500,000
134,292
$182.44
11/19/2021
GID Investment Advisors
$6,170,000
65,000
$94.92
4/12/2022
FCS Automotive International
1410 Oak Industrial Ln - Bldg 3
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