ATLANTA—With industrial development skyrocketing nationally against the backdrop of e-commerce growth, Commercial Café is pushing out some interesting stats. The firm looked at the top 50 cities which have substantially contributed to the addition of much-needed industrial space across the US in the past decade—and Atlanta is a big winner.
According to Commercial Café, Atlanta's industrial market is the second-most active market on the East Coast. Atlanta ranks in the top 10 with a 37.8 million square-foot industrial buildout in the past decade. That puts Atlanta at number seven nationally.
“Atlanta's industrial market continued its record setting pace by registering almost 6.5 million square feet of net absorption for the second quarter of 2017, bringing the total through the second quarter of 2017 to a whopping 13.35 million square feet of net absorption—more than 2.2 million square feet ahead of mid-year 2016,” Todd Barton, CBRE first vice president, Industrial & Logistics, tells GlobeSt.com. “Since emerging from the downturn in 2011, our industrial market has absorbed a staggering 87.5 million square feet of space.”
Fairburn, GA is the second city on the East Coast to make the top 50, and is the top city in the Atlanta market, boasting 7 million industrial square feet delivered in just seven buildings. Phase I of the Palmetto Logistics Park is expected to add another million to its industrial inventory late next year.
(How does Savannah's port impact Atlanta's metro? Get one take).
Union City, GA ranked 29th, with the recently-delivered Majestic Airport Center IV – Building A accounting for 1 million square feet of the total 5 million; McDonough in tow has added 4.9 million square feet since 2007;
The least amount of industrial space added was in Atlanta metro with 3.3 million in 14 buildings. The largest industrial completed building was the 2015-built, 1.2 million-square-foot Majestic Airport Center IV.
(Atlanta is breaking records on this commercial real estate front. Check it out.)
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