Summey Orr III, a partner in the Atlanta law firm of Hartman Simons, believes industrial developers who had successful strategies to weather the recession are now reaping the dividends. “We saw a fair amount of players drop out of industrial space during the recession, but as the market has come back, there are a handful of core industrial developers who have struck around and have come out really strong,” he said. “Those players have a lot of opportunities that they might not have had five years ago.”

Serving the consumer-laden Atlanta market is the Port of Savannah, a logistics gem that is undergoing a major expansion project to give it a 47-foot depth to handle post-Panamax container ships. The port region is supported by 45.3 million square feet of industrial space within a few minutes.

John Petrino, director of business development for the Georgia Ports Authority, notes that Savannah is a small city of less than 300,000 people and ships come to the Port of Savannah for one reason: the consumers in metro Atlanta.

“We wouldn't be where we are without the Atlanta metro market,” Petrino says. “The vast majority of cargo still comes through the West Coast, so there is still a tremendous opportunity for the port. It's not just an Atlanta play or a Savannah play, it's a regional play.”

The port could see a significant increase in business if Georgia lands a new Volvo assembly plant. The state is said to be a finalist along with South Carolina for the proposed plant.

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Count Gus Milano, president and COO of New Jersey-based Hartz Mountain Industries among those bullish on the Atlanta market. Milano visited Atlanta 18 months ago looking to acquire multi-family property. After a look around the region, he was sold on Atlanta's industrial percentage and has since acquired nearly three million square feet of space.

“Yesterday (Wednesday), we toured the market for further acquisitions,” Milano said. “Clearly, Atlanta is a growing city and it's our intention to further expand our footprint. Some of the best fundamentals are in Atlanta.”

Another driver of industrial development is Atlanta's booming film industry, which is propelled by Georgia's generous tax incentives.

Richardson said his firm is in negotiations with a movie production company. Film companies are known for having unique parameters such as occupancy terms.

“They will go for a 50-year deal, but they have to have a one-year out,” Richardson says. “What we have attempted to do is focus on content creators. We haven't sought them out, but we have found them to be good partners if you can get over the term issues. That industry is here to stay because Atlanta is making a big commitment.”

But panelists conceded the state's film industry is contingent on the tax credits staying in place.

“New Jersey had some movie companies, but as soon as the tax credits, overnight they packed the vans and were gone,” Milano said.