Atlanta’s delivery of new industrial space in 2017 reached its highest level on record in 2017 with more than 17.6 million square feet completed, according to fourth quarter statistics released by Cushman & Wakefield. Alex Walker, Associate Market Director of Research in Cushman & Wakefield’s Atlanta office, recaps some of the key statistics and trends the market encountered in the fourth quarter and 2017 as a whole.
Georgia’s GDP growth year-over-year has exceeded 2.3 percent for four consecutive years, and the state is forecast to grow by an additional 3.2 percent in 2018. Additionally, the state is expected to add more than 100,000 residents to its population via in-migration, while unemployment is predicted to fall and wages are expected to continue their rise. These economic forecasts point to continued expansion of Georgia’s construction, manufacturing, and transportation/logistics industries, which are the backbone of Atlanta’s industrial real estate market.