Atlanta Intown October 2021 – Key Takeaways
- Apartment searches are considerably stronger than they were in 2019 and 2020. Apartment monthly lease up is higher than seen in 20 years (unprecedented). Developers are looking for sites and trying to break ground as quickly as possible. Apartment vacancy rate in Atlanta is normally 8%; now 5%. Anticipating record high rent growth in Atlanta next year.
- Industrial need is being driven by explosion of people spending on personal expenditures and e-commerce; growth of Port of Savannah has also contributed to this growth; Atlanta remains a bargain for industrial compared to the rest of the country, making it a strong market for investors.
- Retail is rebounding nicely; we haven’t seen the massive move-outs and there’s not much new building; retail vacancies are back down below 5%.
- Atlanta is #6 nationally in 12 month net absorption for apartments; #2 nationally in 12 month net absorption for industrial space; and #1 nationally in retail rent growth.
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