The Atlanta industrial market may finally be showing some signs of life, posting the first quarter of positive absorption since third quarter 2008. The overall vacancy rate for the metro Atlanta industrial market was 13.8 percent at mid-year 2010, up from 13 percent one year ago.
Although year-to-date net absorption was negative 1.4 million square feet, absorption for the second quarter was positive for the first quarter since 2008 at 982,000 square feet. This was due to the delivery of the 1.5 million-square-foot, fully-occupied, General Mills distribution facility completing construction in Social Circle, Ga. (rendering at right).
New construction continued to decrease across the metro area to just 2.1 million square feet in three buildings – 1.4 million square feet of which were in two buildings in the South Atlanta submarket developed by Majestic Realty that are 100% pre-leased to Kraft and Dendreon Corp.
As Director of Research, Elizabeth Jinks manages the staff, daily operations and vendor relationships for the group and provides her clients with a link to all of Carter’s many research resources. As author of all of Carter’s proprietary research publications, market overview sections of offer memorandums, third party quartlery reporting, and market forecasting, Elizabeth has an in-depth knowledge of the commercial real estate market, resources, and analytic skills to add value to any project.