Northwest Atlanta continues to see positive gains
Key Northwest Industrial Atlanta Submarket Trends
- Industrial absorption was positive for a fourth consecutive quarter in Northwest Atlanta
- Overall vacancy ins below 5% yet again following Q1 gains
- Although activity has been positive, the submarket witnessed a decline in its overall asking rate
- the foreseeable outlook for Northwest Atlanta remains positive as both supply and demand are solid here
Northwest Atlanta Industrial Submarket Q1 2021 Overview
Over 700,000 square feet of industrial space was absorbed in the first quarter in Northwest Atlanta. LG was the largest occupancy of the quarter, moving into just over 510,000 square feet at Georgia North Industrial Park. Beyond that, the majority of occupancies in Q1 came from tenants under 100,000 square feet.
Demand for space has rocketed construction levels in the submarket. Northwest has the second highest amount of product in development currently, behind only South Atlanta. Looking forward, the second quarter is expected to see even more occupancy gains, likely topping this quarter.
