ACBR Market Brief: Q1 2016 Industrial Market

The Atlanta Commercial Board of REALTORS® (ACBR), the largest commercial REALTOR® association in the country, released its Q1 2016 Industrial Brief on industrial market trend statistics for 22 Atlanta Industrial Sub Markets.

Q1 2016 Industrial Market Statistics

LABOR: According to the Bureau of Labor Statistics, the unemployment rate dropped 1.0 percentage points from 6.2% in January 2015 to 5.2% in January 2016.  The Atlanta metropolitan statistical area job creation totaled 88,400 in the Atlanta-Sandy Springs-Roswell metropolitan statistical area over the past year. 

ABSORPTION: The Atlanta metro absorbed over 3.85 million square feet (msf) during the first quarter of 2016.The South market recorded the most absorption for first quarter with 2.3 msf absorbed. The Northeast market reflected the second largest absorption total with .7 msf of total absorption during first quarter 2016.

VACANCY: Due to continued positive absorption, the overall vacancy rate has fallen from 9.1 % in Q4 2015 to 9.0% at the close of first quarter 2016. Industrial vacancy rates dropped from 9.2% in Q1 2015.

CONSTRUCTION: Developers continue to build as demand for industrial product strengthens. There are currently 20 buildings totaling approximately 9.5 msf under construction.  Through first quarter 2016, seven buildings totaling 4.1 msf have been completed.

TOP LEASE TRANSACTIONS: Major occupiers of space included Petco, Menlo Logistics, Smuckers, Interface, Megadoor, Atlantic Packaging and BlackPowder Products, Inc.

A Word from ACBR Member, Pat Murphy: "The numbers clearly show strong absorption for industrial space in the metro area, led by bulk users. We expect this trend to continue into 2016 when major users such as Smuckers, Keurig and Google Fiber occupy big chunks of space from previously announced deals. New development should provide even more opportunities, including redevelopment of some sites closer to the central city. In all, the industrial sector is clicking on all cylinders right now."

Press Release :  Infographic : Presentation Mode :  Office Market Brief

The data in this report was compiled by data provided by Xceligent, a leading provider of verified commercial real estate information. For more information on details of this month's report, please contact the Board at 404.250.0051.

Friday, March 04, 2016

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.

About Xceligent

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.

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