ATLANTA INDUSTRIAL REPORT
Northwest Atlanta Industrial Submarket
Q3 2022
Northwest Atlanta Continues Momentum with Record Setting Quarter
ABSORPTION, DELIVERIES AND VACANCY RATE 8.0%
6,000,000
Northwest Atlanta Industrial saw positive absorption of 1,987,190 square feet in Q3, bringing the year-to-date total to positive absorption of 3,224,353 square feet. The Q3 figure represents the most positive absorption for a single quarter in Northwest Atlanta Industrial of all time. This record-setting absorption saw the submarket’s vacancy rate fall 100 basis points (1.0%) from 5.0% to 4.0%. Since Q4 of 2021, Northwest Atlanta Industrial seen over 6.4 million square feet of new space deliver, with 32 buildings totaling over 11.6 million square feet still in the construction pipeline. Rental rates have continued to rise in Northwest Atlanta, increasing 20.6% since Q4 of 2021, from $5.23 per square foot to $6.31 per square foot.
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
1.0%
0
2017
2018
2019
Absorption
2020
2021
Deliveries
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
55,995,296
3.5%
2.5%
(398,644)
24,130
407,814
2,454,522
$6.60
“BIG BOX” >250,000 SF
29,010,493
4.9%
10.0%
2,385,834
3,200,223
4,247,540
9,190,726
$5.64
Total
85,005,789
4.0%
5.0%
1,987,190
3,224,353
4,655,354
11,645,248
$6.31
NORTHWEST ATL IND
NORTHWEST ATLANTA INDUSTRIAL RECENT LEASES Tenant
Property
Owner/Developer
Sign Date
SF
Lease Type
Buske Logistics
81 Brown Loop
Greenway
Jul 2022
339,963
New Lease
Ceva Logistics
934 Peeples Valley Rd
Transwestern Development
Aug 2022
250,874
New Lease
1100 Shallowford Rd
Faropoint
Aug 2022
105,292
New Lease
Pacesetter Steel Service
NORTHWEST ATLANTA INDUSTRIAL RECENT INVESTMENT SALES Property 800 Cassville White Rd
Price
SF
$/SF
Date
Buyer
$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.
1100 Shallowford Rd
$10,500,000
105,292
$99.72
8/2/2022
Faropoint
Lincoln Property Company Atlanta tracks industrial buildings that are 25,000 sf or greater.
Lincoln Southeast Industrial 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