Atlanta industrial real estate market reports
Q2 2024
The Atlanta industrial market ended second quarter with 2,180,197 sf of positive absorption. The need for industrial space remains high, but the pace of construction has cooled due to rising interest rates as well as a shift in product demand. Tenants are still seeking out smaller spaces as 63% of deals signed during Q2 were in spaces less than 50k sf. The vacancy rate for the Atlanta market is currently at 8.6%, the highest it has been since 2013 due to new product outpacing demand. Although vacancy is rising, rental rates continue to increase quarter-over-quarter. Atlanta did experience an uptick in sales transactions during Q2, an 85% increase quarter-over-quarter, and the momentum is expected to continue.
63%
Smaller space continues to be coveted
63% of industrial leases signed during second quarter were for space less than 50,000 sf.
85%
Uptick in transaction volume
Atlanta market experienced a positive increase in sales volume during second quarter, displaying an 85% increase in transaction volume quarter-over-quarter.
8.6%
Vacancy rate escalates as new product outpaces demand
Total vacancy is at 8.6%, a 75% increase year-over-year.
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