Demand for industrial product, Class A especially, is up along the I-85 corridor, according to a November article in Southeast Real Estate Business. The industrial market’s vacancy rate is declining, and e-commerce users are helping to push up year-to-date absorption to more than 10 million square feet. Wes Hardy, Duke Realty’s Vice President of Leasing and Development, shared his perspective on the Atlanta industrial market and how absorption has been driving speculative construction and keeping demand high.
“There is a true lack of modern, best-in-class bulk industrial product right now in Atlanta,” Hardy says. “If you want to be in a certain submarket like near the airport, there may be no new available product so you have to build it.”
Get more on speculative growth from Atlanta to Charlotte here.