Rates continue to rise despite a much-needed increase in supply

As 2023 begins, Atlanta’s industrial market continues to show low vacancy and high rental rates. Rental rates in Atlanta have risen to a new high of $6.17 per square foot (psf), up 19.3% year over year from $5.17 psf in Q1 of 2022. Rental rates have continued to rise despite an increase in vacancy. Vacancy rates have ascended 120 basis points (bps), from 3.9% in Q1 2022 to 5.1% in Q1 2023. This uptick in vacancy is a positive sign for occupiers searching for space in a historically tight market.

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