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Advantis Bullish on Industrial Sector

ATLANTA-The 405 million-sf warehouse/distribution market posted a first-quarter vacancy of 9.3% versus an average 8.7% for all of 2000. But new construction of 10.7 million sf shows development and tenant demand remain strong, especially in the bulk warehouse sector.

By Alex Finkelstein | Updated on May 30, 2001

ATLANTA-Metro’s 405 million-sf industrial market and 44.9 million-sf flex space sector are in good shape with one month left in the second quarter, but a good portion of new business growth and expansion remains on hold as company owners monitor the flat economy as it gears up for the second half.

That’s the first-quarter assessment of Advantis Real Estate Services Co., the locally based brokerage arm of Jacksonville, FL-based St. Joe Co.

The brokerage remains bullish despite a first-quarter vacancy level of 9.3% versus an average 8.7% for all of 2000; net absorption of 1.9 million sf (23,000 sf less than the same 2000 period); and a below average absorption of 1.6 million sf in bulk warehouse product.

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