Third Quarter 2021
Atlanta continues to show signs of an economic recovery. Leasing volume doubles, up 1.2 MSF from last quarter, demonstrating confidence in the return to office occupancy. In addition, large corporations including Microsoft, Google, FanDuel, Visa, Cisco, Norfolk Southern, Deluxe Corp, Papa John’s, Mailchimp, Carvana, and Airbnb are all in the process of adding thousands of high-paying office jobs in Atlanta. However, overall leasing activity is still trending below norms and contending with the effects of a few large move-outs and a glut of sublet availability.
Atlanta’s economy is rebounding at a vigorous pace, and the industrial sector is red hot. Leasing volume has surged over the past few quarters, particularly in big-box distribution. As a result, Atlanta set a record for annual net absorption through the first three quarters of the year alone. Developers have responded with a continued supply wave. As a result, Atlanta ranks in the top five for industrial supply underway nationally.