Atlanta’s industrial market recorded its strongest leasing quarter on record in Q3, with more than 19 million square feet leased, surpassing even the COVID-era boom. By tracking market availability each month, Lee & Associates – Atlanta’s research and brokerage professionals keep a close pulse on changing supply and demand across the market.

Total available space fell 3.3% in September, declining by 3.6 million square feet.
Most of the quarter’s leasing came from new deals rather than renewals. Sublease availability also continued to fall, reaching 10.9 million square feet. Available sublease blocks of 500,000 square feet or more dropped by more than 500,000 square feet in September and are down approximately 42% from a year ago.

At the same time, nearly 1 million square feet was added to the under-construction pipeline. The combination of record leasing, tightening availability and renewed construction activity points to a market entering a new phase, with demand absorbing existing space as new supply comes online.

Read the latest Atlanta industrial availability update.