房地产 -亚特兰大工业大盒子报告2026年第一季度 Atlanta Industrial Big-Box Report Q1 2026

Q12026

AtlantaIndustrialBig-Box

REPORT

IndustrialBig-BoxCriteria:

Anindustrialfacilityofatleast200,000sq.ft.,usedasatraditionalwarehouseordistributioncenter.

ATLANTAINDUSTRIALBIG-BOXREPORTQ12026

2CBRERESEARCH©2026CBRE,INC.

Contents

01MarketUpdate

02Leasing

03Map–AtlantaIndustrialBig-BoxMarket

04Availability

05HistoricalAverageBig-BoxRent

06AverageBig-BoxRentbyPropertySize

07ConstructionActivity

IndustrialBig-BoxCriteria:

Anindustrialfacilityofatleast200,000sq.ft.,usedasatraditional

warehouseordistributioncenter.

ATLANTAINDUSTRIALBIG-BOXREPORTQ12026

3CBRERESEARCH©2026CBRE,INC.

01MarketUpdate

LargeUserSales BoostAbsorptionGainsinAtlanta’sBig-BoxIndustrialMarket

9.2%

4.6M

TotalVacancyRate

SFDirectNetAbsorptionYTD(comparisontoprev.yr.)

—Absorptiongainsinthebackhalfof2025continuedintothenewyearasjustover

4.6-millionsq.ft.wasabsorbedinQ12026;ledbylargeowner-usersales.

—Atlanta’sbig-boxvacancyrateisbelow10%forthefirsttimeinfouryears.

—Flight-to-qualitycontinuestoplayoutinthemarket;however,olderbuildingsbuiltbefore2010haveseensteadyleasingoverthepast6monthsasaresultofreducedavailabilityinpost-2010buildings.

—Thoughtheoverallaveragerentforbig-boxindustrialinAtlantaincreasedyetagainthisquarter,itisuponly2%sincetheendof2024.

7.6M

$7.07

AvgNNNLeaseRate

1.0M

SFUnderConstruction

SFDeliveredYTD

(comparisontoprev.yr.)

FIGURE1:AtlantaIndustrialBig-BoxNetAbsorption,&Vacancy

q

Q1Q2Q3Q4VacancyRate

14%12%10%8%6%4%2%

00%

202120222023202420252026

Source:CBREResearch,Q32025

MSF

40

35

30

25

20

15

10

5

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02Leasing

Intermsofoverallsquarefeetleased,Atlanta’sbig-boxmarketisofftoyetanotherslowstarttotheyear.ComparedtoQ12025,leasingactivityisdownroughly8%.Evenso,thedeclineinQ12026comesontheheelsofAtlanta’sstrongestquarterofbig-boxleasinginjustover3years,withQ42025’s

activityattributedtoanincreaseintransactionsinbuildingsbetween200,000to499,999sq.ft.,aswellasbuildingsover750,000sq.ft.WhileleasinginQ12026isslightlydownyear-over-year,therewasanotablylargerpercentageofnewleasetransactionscomparedtothefirstquarterof2025.Almosttwo-thirdsoftheactivityinQ12026wasinnewleasetransactions.

1.6MSF

Confidential

SouthPortLogisticsCtrSoutheast/I-75

Renewal

810KSF

Kubota

WalnutForkDCNortheast/I-85Renewal

1.0MSF

Confidential

MajesticAirportCtr.IIIAirport

NewLease

799KSF

EAEUSA

GordonLogisticsCtr.Northwest/I-75

NewLease

590KSF

GigaCloud

1380JesseCronicRd.Northeast/I-85

Renewal

550KSF

Veyer

2500MillCenterPky.Northeast/I-85

Renewal

Millions(SF)

Q32021

Q42021

Q12022

Q22022

Q32022

Q42022

Q12023

Q22023

Q32023

Q42023

Q12024

Q22024

Q32024

Q42024

Q12025

Q22025

Q32025

Q42025

Q12026

200-499K500-749K750-999K1M+TotalPre-2010Post-2010

Source:CBREResearch,Q12026

FIGURE2:Big-BoxLeasingActivitybyBuildingSizeCategory&Age

16

14

12

10

8

6

4

2

0

FIGURE3:CurrentShareofLeasingbyOccupierType(by#oftransactions,last2quarters)

Third-PartyLogisticsManufacturing

GeneralRetail&Wholesale

BuildingMaterials&ConstructionPackaging&WarehouseServicesAutomobile,Tires&Parts

E-CommerceOnly

ProfessionalServicesFood&Beverage

Other

Source:CBREResearch,Q12026

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03Map–AtlantaIndustrialBig-BoxMarket

Lawrenceville

Northwest/I-75

DouglasvilleAtlanta

Conyers

UnionCity

NewnanPeachtreeCityMcDonough

Alpharetta

Marietta

TotalMarket

Pre-2010Post-2010

#Bldgs.

InventorySFVacancy

YTDAbsSFU/CSF

#Bldgs.

InventorySFVacancy

YTDAbsSFU/CSF

#Bldgs.

InventorySFVacancy

YTDAbsSFU/CSF

#Bldgs.

InventorySFVacancy

YTDAbsSFU/CSF

#Bldgs.

InventorySFVacancy

YTDAbsSFU/CSF

#Bldgs.

InventorySFVacancy

YTDAbsSFU/CSF

#Bldgs.

InventorySFVacancy

YTDAbsSFU/CSF

#Bldgs.

InventorySFVacancy

YTDAbsSFU/CSF

#Bldgs.

InventorySFVacancy

YTDAbsSFU/CSF

917Bldgs.

509Bldgs.

408Bldgs.

BraseltonBuford

408MSF

200.6MSF

207.8MSF

252

106.5M

8.1%

2.2M

1.4M

125

67.2M

14.3%

(173K)1.9M

15

6.9M

3.3%

(227K)-

142

56.9M

6.2%

1.0M

1.6M

56

23.6M

5.6%

1.0M

205K

119

52.8M

8.9%

(38K)1.3M

88

37.1M

14.5%

36.8K376K

101

52.3M

6.7%

301K

-

StoneMountain

Southwest/I-85

10

2.6M

6.2%

-

462K

Northwest/I-75

Southeast/I-75

Northeast/I-85

NorthCentral

I-20/West

Source:CBREResearch,Q12026

I-20/East

Airport

Cartersville

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05HistoricalAverageBig-BoxRent

$9.00

$8.00

$7.00

$6.00

$5.00

$4.00

$3.00

$2.00

202020212022202320242025YTD26

FIGURE6:HistoricalAverageBig-BoxRentbyMarket&Submarket$10.00

Atlanta

U.S.

Airport

Southwest/I-85

Southeast/I-75Northeast/I-85

Northwest/I-75I-20/West

I-20/East

AlthoughAtlanta’sbig-boxrentwasflatthroughoutmostof2025,the

averageincreasedby$0.27/sfoverthepasttwoquarters.Evenso,at$7.07/sf,theaverageisuponly2%sincetheendof2024.

Themodestuptick,andsubsequentflatteningofbig-boxrentsoverthepastyearcanbeseenacrossallof

Atlanta’sindustrialsubmarkets.

However,asavailabilitiescontinuetodecline,andnewdeliveriesremainincheck,momentumwillleadtomoreconsistentincreasesinrents,

specificallyinAtlanta’smostin-demandsubmarkets.

Source:CBREResearch,Q12026

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06AverageBig-BoxRentbyBuildingSize&Age

AveragerentsbybuildingsizeincreasedatalltierlevelswhencomparedtoQ32025.Thelargestjumpwasinthe200,000to499,999sq.ft.categorywhichhasbeenthemostactive

segmentintermsofbothleasingandnewproductdeliveredoverthepastyear.Theupperechelonofsizetiersalso

experiencedsteadygrowthintheiraveragerents.Giventhereturnofdemandinlarger,big-boxfacilities,the1M+sq.ft.

categorysawitsaveragerentjump5.4%fromthistimelastyear.

FIGURE7:CurrentAverageBig-BoxRentbyBuildingSize&Age

$7.45

$6.78

$6.41$6.45

$8.00

$7.00

$6.00

$5.00

$4.00

$3.00

$2.00

200-499K500-749K750-999K1M+Pre-2010Post-2010

$7.08$7.06

Source:CBREResearch,Q12026

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07ConstructionActivity

SupplyfundamentalsinAtlanta’sBig-BoxIndustrial

marketcontinuetoremainsubdued,allowingfor

existingavailabilitytoleaseup.Thoughupyear-over-year,constructionlevelsremainattheirlowestlevelinoveradecade.Developersarebeingstrategicontheirconstructionstarts,focusingonareasofsustained

demandforbulkwarehouseanddistributionfacilities.

FIGURE8:AnnualConstructionStartsvs.Completions

Millions

0

20212022202320242025YTD26

StartedDelivered

35

30

25

20

15

10

5

FIGURE9:SpecConstructionActivity&Submarketvs.SizeCategoryAvailabilityHeatMap

(Note:shadingtakesintoaccountspecbuildingsunderconstruction,availabilities,andleasingdemandinsubmarket)

Submarket200499K500749K750999K1MSF+TOTAL

NORTHCENTRAL

2Bldgs.

462,391SF

2Bldgs.

462,391SF

I-20/EAST

1Bldg.

1Bldg.

205,237SF

205,237SF

I-20/WEST

1Bldg.

413,220SF

1Bldg.

1,178,000SF

2Bldgs.

1,591,220SF

NORTHEAST/

5Bldgs

5Bldgs.

I-85

1,410,927SF

1,410,927SF

NORTHWEST/

1Bldg.

1Bldg.

I-75

376,245SF

376,245SF

AIRPORT

5Bldgs

5Bldgs.

1,280,537SF

1,280,537SF

SOUTHEAST/

1Bldg.1Bldg.

2Bldgs.

I-75

933,656SF1,005,074SF

1,938,730SF

SOUTHWEST/I-85

.

CentralAtlanta

1Bldg.

351,230SF

1Bldg.

351,230SF

TOTAL

16Bldgs.

4,499,787SF

.

1Bldg.

933,656SF

2Bldgs.

2,183,074SF

19Bldgs.

7,616,517SF

OVERSUPPLIEDBALANCEDUNDERSUPPLIED

Source:CBREResearch,Q12026

Contacts

ScottAmoson

AssociateResearchDirector

scott.amoson@

TashiekaMoore

DataIntelligenceManager

tashieka.moore@

AtlantaOffice

3550LenoxRoadNortheastSuite2300

Atlanta,GA30326

JustinVines

FieldResearchAnalyst

justin.vines@

*Note:AsofQ12024,ourmethodologyforcollectingdatahaschanged.Inpreviousquarters,spacewasabsorbedassoonasacompanyphysicallyoccupiedspace.Startingthisquarter,anewleasewillfactorintonetabsorptionassoonastheleaseissignedandconfirmed.Toreflectthesechanges,wehavealsogonebackthepastyearandchan