Demand for warehouse space near the world’s busiest airport hasn’t slowed down as much as it has in the rest of Metro Atlanta. The problem is there isn’t much space left.
Bisnow/Brandon Elsasser
Robinson Weeks Senior Vice President Tyler Jones, Link Logistics Vice President Elliot Williams and Prologis Vice President Cassie Hanavich at Bisnow’s Aerotropolis event June 22.
Plenty of tenants are still searching for industrial space in the submarket around Hartsfield-Jackson Atlanta International Airport even as leasing activity regionwide slows down from pandemic highs, panelists said at Bisnow’s Aerotropolis event earlier this month. The activity has existing landlords in the submarket not only bullish on the health of the area but also seeking further development opportunities.
“If you look at just the airport, I mean, it’s still very, very busy,” Prologis Vice President Cassie Hanavich said onstage at the Hilton Atlanta Airport hotel. “Anything over a half-million square feet has seen a little bit of a slowdown, but demand is still strong.”
Despite the tumult caused by rising interest rates and concerns over a possible recession, more than 2.7M SF of industrial space was absorbed during the first quarter of the year, according to CBRE.
The airport submarket includes Aerotropolis Atlanta in Hapeville, Union City, South Fulton County, portions of Clayton County and Fairburn. Lee & Associates Executive Vice President Rick Tumlin said the submarket is a critical hub for distribution center users, encompassing 16% of all of Metro Atlanta’s more than 800M SF of distribution centers as a…
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