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The Atlanta industrial market continues to reach new heights as vacancy hits an all-time low
Rents in the Atlanta industrial market experienced a continuation of the recent uptrend in the fourth quarter of 2021. In Q4, the average asking rent reached a record $4.79 per square foot (psf), increasing 7.2% year-over-year (yoy). The heightened demand for space has suppressed vacancy to 3.6% this quarter, down 360 basis points (bps) from the close of 2020. Additionally, 2021 was a momentous year for demand as net absorption for the year reached 38.3 million square feet (msf), nearly double the amount (19.7 msf) recorded in 2020. Despite low vacancies, there are still space options for tenants due to a robust construction pipeline with 29.2 msf currently available for lease.