The Atlanta Commercial Board of REALTORS® (ACBR), the largest commercial REALTOR® association in the country, released its Q2 2016 Industrial Brief on industrial market trend statistics for 22 Atlanta Industrial Sub Markets.
Q2 2016 Industrial Market Statistics
LABOR: According to the Bureau of Labor Statistics, the unemployment rate dropped 1.2
percentage points from 5.8% in May 2015 to 4.6% in May 2016. The Atlanta
metropolitan statistical area job creation totaled 76,600 in the Atlanta-Sandy Springs- Roswell metropolitan statistical area over the past year.
ABSORPTION: The Atlanta metro absorbed over 5.8 million square feet (msf) during the second quarter of 2016 and 9.8 msf year-to-date.
VACANCY: Due to continued positive absorption, the overall vacancy rate has fallen from 8.8 % in Q1 2016 to 8.5% at the close of second quarter 2016. Industrial vacancy rates dropped from 8.9% in Q2 2015.
CONSTRUCTION: There arecurrently 23 buildings totaling approximately 8.1 msf under construction. Through second quarter 2016, twenty buildings totaling 8.5 msf have been completed.
TOP LEASE TRANSACTIONS: Major occupiers of space included William
Sonoma, Exel, Shaw Industries, Beauflor USA Inc, Delta Airlines, Federal Express, Maurice Sporting Goods and Woodgrain Companies.
A Word from ACBR Member, Sim Doughtie: “The Atlanta industrial market continues to have strong and consistent activity and absorption (17 quarters in a row of positive net absorption), which has led to a lower vacancy rate, and an increase in new construction. Demand for distribution and e-commerce space, and a lack of supply of those buildings has driven the uptick in new construction. The compressed capitalization rates (which means higher sales prices for developers) has also contributed to fuel new construction as developers build spec buildings, lease them as fast as they can, so they can take advantage of the current red-hot investment market”
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.