Atlanta industrial real estate market reports

Q3 2021

The Atlanta industrial market’s momentum continued through the third quarter of 2021, as leasing activity and absorption grow closer to exceeding the levels seen during 2020. This growth is driving the record amount of space currently under construction and should continue into 2022 as the demand for industrial space has driven the overall vacancy rate to a historical low 2.5%.

3.1%

Economic Conditions

Unemployment rate in metro Atlanta, down 950 bps from the height of the pandemic.

27.0%

Port Activity

Increase in cargo volume at the Savannah port since August 2020.

42.3 msf

Industrial Demand

Total amount of leasing activity seen through the third quarter of 2021. Just 3.0 msf shy of the total amount of activity in 2020.

37.7 msf

Industrial Supply

Amount of industrial space under construction at the end of the third quarter of 2021. The largest amount of space underway ever recorded in one quarter.

13.0%

Pricing Trends

Increase in average asking rental rates since the third quarter of 2020, leading the market to witness another record high at $5.46 psf. 

$2.8B

Capital Markets

Total industrial investment volume in metro Atlanta through the third quarter of 2021. This is up 72.8% compared to the activity seen during the same time in 2020.

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