It’s a good time to be in the Atlanta commercial real estate market. Research shows the southeastern hub enjoyed a prosperous 2015, with strong industrial and office absorption figures pushing vacancy rates in those sectors down to levels not seen since the turn of the century.
Clearly the Atlanta market is gaining momentum. Here are a few Atlanta-focused stories and trends worth tracking:
- Another good year for industrial: Atlanta’s industrial market performed particularly well in 2015, absorbing the third-most square footage in the United States. That’s according to research from Colliers International, which also found that the industrial vacancy rate dropped to its lowest point since the first quarter of 2001.
- The office sector’s perfect storm: The mix of high absorption activity with minimal deliveries helped Atlanta achieve its best office market results since 2000 last year. Colliers found that Atlanta’s office absorption totaled 4.8 million square feet, the highest annual total in 15 years.
- Benefits of build-to-suit: Atlanta, with its strong industrial market, is one of the cities that has seen a rise in build-to-suit projects in recent years. With more tenants seeking new technologies and specialized buildings, this isn’t a trend that’s likely to go away anytime soon. (Story via GlobeSt)
- The future of cars: What would Atlanta look like if there were cars, but no drivers? That was the subject of a recent program called “Evolving Transportation and the Future of Commercial Real Estate” hosted by the Urban Land Institute. Industry experts debated the potential impact of this technology, looking at how it might change variables like parking for current (and future) developments. (Story via Curbed)