Atlanta’s industrial market driven by port activity and strong tenant investments

– The Atlanta market closed 2024 with more than 45.3 million square feet of leasing activity, the highest since 2022, showing a 38.9% year-over-year increase.

– A key driver of this leasing surge is the Port of Savannah, the third-busiest container gateway in the U.S., handling more than 5.25 million TEUs in 2024. The products processed at the port are being distributed to tenants in the Atlanta area, fueling leasing growth throughout the surrounding regions.

– In addition to the port, prominent tenants making recent significant investments in Atlanta's thriving market include Owens Corning, Greenbox Systems, and Living Spaces Furniture, each securing more than 1 million square feet of space.

– Rental rates have been impacted by market activity and saw a peak in 2023 due to strong market demand. However, the oversupply of new inventory is allowing the market to adjust, and rental rates are beginning to stabilize.