The ACBR Industrial Brief examines vacancy and absorption of 22 Atlanta Industrial Sub-Markets
Atlanta, GA – July 22, 2015 – (RealEstateRama) — The Atlanta Commercial Board of REALTORS® (ACBR), the largest commercial REALTOR® association in the country, released its Q2 2015 Industrial Brief on industrial market trend statistics for 22 Atlanta Industrial Sub Markets. Industrial Brief, is compiled by data from Xceligent, a leading provider of verified commercial real estate information.
LABOR: According to the Bureau of Labor Statistics, the unemployment rate dropped 0.8 percentage points from 6.4% in April 2014 to 5.6% in April 2015. 83,200 jobs were created in the Atlanta area over the past year.
ABSORPTION: After almost 4.0 million square feet (msf) of positive absorption in second quarter 2014, the Atlanta industrial market absorbed over 5.0 million square feet (msf) during the second quarter of 2015. The Atlanta industrial market has absorbed over 7.8 msf during the first six months of 2015. The South submarket entertained the most absorption for second quarter with 3.7 msf absorbed. The Northeast submarket reflected the second largest absorption total with almost 800,000 sf of total absorption during second quarter 2015.
VACANCY: Due to continued positive absorption, the vacancy rate has fallen from 9.6% in first quarter 2015 to 9.3% at the close of second quarter 2015. Trends definitely have the pendulum swinging back into the landlord’s court. Industrial vacancy rates have dropped substantially from 11.6% in second quarter 2014.
CONSTRUCTION: Developers continue to build as demand for industrial product strengthens and Ecommerce continues to boom . There are currently 32 buildings totaling over 13.3 msf under construction.
TOP LEASE TRANSACTIONS: Major occupiers of space included Office Max, Suzanna’s Kitchen, Walmart, PAE, GE Energy Parts, Lean Supply Solutions, Integra Corp, Excel and McMaster Carr.
A Word from ACBR Past President, Dave Watson: “As demand increases, developers will in time have to build higher ceilings, more efficient ingress and egress, extra car and trailer park facilities. There is soon to come a time when the good 1,000,000 (sf) sites will be scarce and developers will have to contend with creeks, rocks, elevation and parcel size, making existing sites more valuable.”
For more information or details on the reports, please contact ACBR at 404-250-0051.
ABOUT THE ATLANTA COMMERCIAL BOARD OF REALTORS®:
The Atlanta Commercial Board of REALTORS® (ACBR) is the voice of commercial real estate in Metro Atlanta and has been an instrumental factor in the growth of real estate in the state of Georgia for more than a century. As the largest Commercial REALTOR® Association in Georgia, ACBR serves as a central source of information for its members by focusing on real estate education, the promotion of professionalism in the industry and representing members with legislative initiatives to create positive change for the real estate community. Membership in ACBR is the hallmark of quality, professionalism and production.
Xceligent, Inc. is the fastest growing provider of commercial real estate information in the country. Headquartered in Independence (Kansas City), Missouri, Xceligent is the preferred industry partner for proactively researched commercial real estate information and marketing. Over its 14 year history, Xceligent has developed and refined revolutionary research processes that allow the company to offer a superior value proposition to the brokerage, development, government, EDC, appraisal and lending communities.
Atlanta Commercial Board of REALTORS®
Jen Booth, Public Relations Coordinator
Kristin Lamb, Executive Vice President