Atlanta Industrial Sector Showing Strength
Avison Young’s Q3 2024 Atlanta industrial market report was recently released. Here are some of the highlights:
Leasing activity increased by 17.5% year-over-year to 9.4 million square feet in Q3, the highest it has been since 2022.
Q3 2024 saw the highest amount of square footage leased than any quarter since Q4 2022.
The increase in activity has also powered an 80% increase in absorption since last quarter.
Groundbreakings for new construction projects are down over 80% compared to the peak of development in 2021.
27 buildings, totaling 7.7 million square feet, broke ground in 2024, compared to 125 buildings, totaling 40.3 million square feet, that broke ground in 2021.
With vacancy rates continuing to rise, slowing the development pipeline should improve the overall health of the Atlanta industrial market.
Leases less than 50,000 square feet accounted for 54% of deals signed during Q3 2024.
The post Atlanta Industrial Sector Showing Strength appeared first on Connect CRE.
Avison Young’s Q3 2024 Atlanta industrial market report was recently released. Here are some of the highlights:
The post Atlanta Industrial Sector Showing Strength appeared first on Connect CRE. Read MoreAtlanta Commercial Real Estate News
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