ATLANTA—The Atlanta industrial market experienced a record-breaking first quarter with a significant amount of overall net absorption, a falling vacancy rate and an increase in overall asking rents. That's according to Cushman & Wakefield's first quarter industrial market report.
Metro Atlanta experienced nearly 6.4 million square feet of positive absorption, the highest amount ever recorded in Atlanta's history. The previous record of 6.15 square feet was set in the fourth quarter of 2014. The Interstate 20/Fulton industrial submarket saw the highest level of absorption with 2.6 million square feet of overall net absorption.
“In Atlanta, we have experienced significant demand for all industrial classes and product types but the development pipeline is keeping up,” Ray Stache, senior director at CushWake, tells GlobeSt.com. “Q1 was a big quarter, with 15.48 million square feet in production, leasing of big blocks has to continue at a very healthy pace in order to keep our vacancy from climbing again.”
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