“Atlanta’s industrial market remains strong, driven by corporate investment and a growing population that supports long-term demand for industrial space,” stated John Leonard, First Vice President, Regional Manager.

Marcus & Millichap’s Midyear 2024 Atlanta Industrial Market Report provides investors with vital insight and analysis on the current state of the industrial market, including:

• Atlanta’s population is projected to grow at three times the national pace in 2024, supporting increased demand for industrial space, particularly for logistics and e-commerce sectors.

• The city remains a major hub for electric vehicle (EV) manufacturing, with companies like Hyundai and Kia investing in large-scale operations that could spur future demand for industrial properties.

• Despite some short-term overhang in industrial development, 2024 marks the first year since 2018 where completions will fall below 20 million square feet, signaling a potential easing of supply pressures.

• Vacancy rates are expected to rise slightly to 7.8 percent by year-end, but the pace of increase is slowing compared to previous years.

• Atlanta’s average asking rent is projected to reach $8.46 per square foot by the end of 2024, reflecting a modest increase despite risingvacancy.