JLL: Atlanta industrial real estate market "further validation" of economic expansion (2015)

[Airforceguy]

Glad to see Atlanta's economy firing on all cylinders...

Over the past year, developers have bet on increasing demand for warehouses, distribution facilities, and other industrial space — enough to put 16 million square feet under construction across metro Atlanta. Almost 10 million square feet of that pipeline consists of "spec" projects, or those started without leases in place.
At the same time, metro Atlanta — which boasts one of the top five industrial markets in the nation — should absorb at least 16 million square feet of industrial space this year, and that may be a conservative number. Vacancy should drop to less than 8 percent, a level Atlanta hasn't seen in 15 years.
"It's all further validation the Atlanta economy is in expansion mode," Mike Sivewright, Jones Lang LaSalle Inc. (JLL) market director for the Atlanta region said today.

JLL: Atlanta industrial real estate market "further validation" of economic expansion - Atlanta Business Chronicle

[sirrob]

Very nice!

[Ant131531]

Usually, I'm not much of an Atlanta cheerleader, but it's odd how the positive posts about the economy these days are getting little to no posts while the negative posts about Atlanta(saying how it's losing it's "king of the south title" is getting all of the attention.

[AtlantaIsHot]

While this is undoubtedly good news and signals confidence, isn't there a lot of empty industrial space across the metro that was vacated during the recession? Shouldn't that be filled first? I'm just commenting, perhaps there isn't much empty space left.

[jpk1292000]

Originally Posted by Ant131531

Usually, I'm not much of an Atlanta cheerleader, but it's odd how the positive posts about the economy these days are getting little to no posts while the negative posts about Atlanta(saying how it's losing it's "king of the south title" is getting all of the attention.

Agreed.

[TripTychTwo]

Originally Posted by Ant131531

Usually, I'm not much of an Atlanta cheerleader, but it's odd how the positive posts about the economy these days are getting little to no posts while the negative posts about Atlanta(saying how it's losing it's "king of the south title" is getting all of the attention.

It's a lot more 'fun' to be an antagonist online than someone who has a positive outlook on the growth of the city. Especially on these forums when you have other 'competing' cities attempting to devalue the growth Atlanta has seen.

[testa50]

Originally Posted by AtlantaIsHot

While this is undoubtedly good news and signals confidence, isn't there a lot of empty industrial space across the metro that was vacated during the recession? Shouldn't that be filled first? I'm just commenting, perhaps there isn't much empty space left.

Well there's always going to be some empty space. The current vacancy rate is below 10% which is lower than it was pre-recession. So in general I would say no; we have moved past the point of simply making up for the lost years of the recession.

Here's a report with everything that you could want to know about the Atlanta industrial space market:

http://www.colliers.com/-/media/DAFA....ashx?la=en-US

Look at South, Northeast, and West Atlanta! 6 MM SF absorbed in South Atlanta with another 6 MM SF under construction. 6 MM absorbed in NE Atlanta with 4 MM under construction. 4 MM absorbed in Fulton Industrial with 2.5 MM under construction.

All extremely strong numbers. A million square feet is equivalent to multiple very large warehouses.