Atlanta’s industrial market enjoyed a strong start to 2016, with 3.3 million square feet of positive net absorption, marking the 11th consecutive quarter hitting the 1 million mark.
The vacancy rate did creep up from 7.9% to 8.5%, but much of that was due to the delivery of 6.1 million square feet of new space. That’s the third-highest delivery figure ever recorded for a single quarter in Atlanta, underscoring the strength of the market and the increasing demand for new, state-of-the-art industrial space. Also, overall asking rents climbed to $4.27, up from $4.03 one year ago.
The most prominent move of the quarter was Google, which moved into the 1.1-million-square-foot Fairburn Logistics Center, which will serve as a repair hub and data center for Google Fiber as it rolls out in Atlanta over the coming months.
To read much more on the Atlanta industrial market’s 1Q performance, including Cushman & Wakefield’s outlook for the rest of 2016, click on the thumbnail below to download the full C&W MarketBeat report.