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The Industrial Real Estate Market
The Industrial Real Estate Market is very strong, spurred on by tenant demand for space that is well located and efficient. It is projected that the Atlanta Industrial Market will absorb in excess of 20 million square feet of space in 2018. And developers are rushing to fill the demand. As of “press time”, according to CoStar there are 14 buildings of 1 million square feet with at least 200,000 square feet for lease either existing, under construction or proposed.
This cycle marks the entrance of several development firms that are new to Atlanta such as Clayco and The Rockefeller Group. There are also several veteran Atlanta developers that have left established firms to start their own companies.
Larger users are increasingly demanding higher ceilings (36′ is common for new construction) deeper truck courts and more trailer storage. There is also a continuing trend to consolidate into large facilities. This is driving the construction of more buildings from 500,000 to 1 million square feet. Companies leasing space range from the typical bulk warehouse user to E commerce firms like Amazon.
In a complex market like this, it is important to have the best representation. Let The William B. Hare Company handle your industrial real estate needs.
