The Atlanta Commercial Real Estate Market

Reading Time: 7 minutes

Atlanta’s commercial real estate opportunities, skyrocketing population, and business-friendly environment lure investors and tenants nationwide to its thriving metropolitan hub.

Thanks to its sprawling mileage and host of CRE inventory, Atlanta serves as one of the nation’s most viable markets. Both investors and expanding businesses can recoup valuable returns on their investments. Crexi equips these searching parties with every tool they require to find the best possible commercial property for their needs. 

Buyers and tenants seeking Atlanta commercial buildings harness Crexi’s robust search tool and massive marketplace to find the best possible property investment. Additionally, Atlanta-based brokers and those representing Atlanta property for sale utilize Crexi’s listing and lead management software to connect with interested buyers or tenants directly. Thanks to Crexi’s suite of broker tools, Atlanta commercial agents can save time, discover hundreds of leads, and manage listings with more efficiency.

Crexi has facilitated over $330 billion in successful property transactions and marketed over half a million commercial properties worth over $2 trillion total. 

Crexi proudly serves Atlanta, Sandy Springs, Fulton, Hapeville, and Fulton County’s entirety as the region’s fastest-growing digital CRE platform.

The State of Commercial Real Estate in Atlanta

Atlanta’s commercial real estate market is on a tear, with demand for property driven by the region’s strong inbound migration, thriving job market, and pro-business government. According to a recent analysis by JLL, Metro Atlanta’s blend of complementary businesses such as fintech, logistics, health, sports, and music make the region one of the most unique in the Southeast.

Atlanta is home to 29 Fortune 500 and 1000 headquarters that generated aggregate revenues of $429 billion. It is one of the fastest-growing metro areas in the US. Since 2010, the population has grown by nearly 19%, and the region is projected to grow by another 50% over the next 30 years.

Atlanta receives top rankings in categories such as jobs and workforce, quality of life, technology, and innovation and entrepreneurship. Metro Atlanta has received numerous accolades, including the #1 Metro Tech Hub, the #1 Metro for Tech Diversity, the #2 Metro for Quality of Engineering Universities, and the #3 Metro for STEM Professionals.

Atlanta Regional Breakdown

Atlanta is the third fastest-growing metro area in the US and an epicenter of population growth in the Southeast. Both residents and businesses are moving to Atlanta for the relatively low cost of living and doing business and the high quality of life:

  • Atlanta is the capital of Georgia and is home to nearly 500,000 people in the city and over 6 million in the metropolitan area.
  • Over the past ten years, the population of Atlanta soared by nearly 19%.
  • The population of the city of Atlanta is predicted to grow by 50% over the next 30 years, while the metro area is projected to add nearly 2.4 million new residents.
  • Three of the fastest-growing suburbs in Atlanta are Decatur, Brookhaven, and Woodstock.
  • The median age in Atlanta is 36.8, a little less than the figure for the US.
  • Per capita income in Atlanta is $37,331, and median household income is $71,741, about 10% higher than the average in the US.

Atlanta Job Market

Atlanta has recovered over 88% of the jobs lost since the pandemic, with employment in warehousing, logistics, and retail leading the way. The technology sector is also seeing strong demand, with software engineers and ‘dot net’ developers often receiving up to five job offers in a single week, according to a report from The Atlanta Journal-Constitution:

  • GDP for the Atlanta-Sandy Springs-Roswell GA MSA is over $425 billion and has grown by more than 56% since 2010.
  • Its unemployment rate is 2.3% as of December 2021.
  • Atlanta’s employment sectors growing the fastest are information, professional and business services, leisure and hospitality, and manufacturing.
  • Key industry segments in Atlanta include the internet of things, bioscience, technology, fintech, supply chain, and manufacturing.
  • Metro Atlanta is home to 29 Fortune 500/1000 headquarters, including The Home Depot, United Parcel Service, The Coca-Cola Company, Equifax, and Beazer Homes USA.
  • Atlanta is considered one of the largest hubs for higher education in the US, with colleges and universities such as the Georgia Institute of Technology, Georgia State University, and Emory University.
  • Nearly 40% of the residents of Atlanta hold a bachelor’s degree or an advanced degree, about 20% higher than the average rate in the US.

Atlanta is a central transportation hub in the Southeast, making the metro area a major center for logistics and commerce.

The transportation infrastructure of Atlanta includes three interstate highways, freight rail service, Hartsfield-Jackson Atlanta International Airport (the busiest in the world), and the country’s ninth-largest public transit system.

Atlanta Industrial Market

Demand for industrial space in Atlanta is so strong that the market recently hit an all-time low, reaching a 3.1% vacancy rate. Nearly 7.5 million SF of new industrial products was delivered n Q4 2021 alone, with more than 82% already leased:

  • Total industrial inventory: 664,312,573 SF
  • Average asking rent: $6.40 per SF per year, overall, NNN
  • Vacancy rate: 3.1%
  • Absorption: 37.8 million SF in 2021
  • Key lease transactions by tenant: Amazon, Vanderlande, GXO Logistics, Costco
  • New construction: 22 million SF completed in 2021 with 32.6 million SF under construction
  • Largest industrial submarkets: I-85 North Corridor, I-20/Fulton Industrial, Airport/South Atlanta, I-75 North Corridor

Discover Atlanta industrial space for lease.

Atlanta Office Market

Leasing activity in the Atlanta office market surpassed 2.5 million square feet in Q4 2021, marking the highest amount of leasing activity in nine quarters. Six new leases of 100,000 square feet or larger were signed in Q4 2021, pointing to a rebound in tenant demand for office space in Atlanta:

  • Total office inventory: 154,053,005 SF
  • Average asking rents: $29.54 per SF year, full service gross, all classes
  • Vacancy rate: 22.9%
  • Absorption: -1.6 million SF YTD
  • Leasing activity: 7.4 million SF YTD
  • Key leases by tenant: Carvana for 570,000 SF, AT&T for 331,000 SF, and Center for Global Health Innovation for 191,000 SF
  • New construction: 3.5 million SF delivered in 2021, with 2.6 million SF currently under construction
  • Key sales by property: 999 Peachtree Street for $223.9 million, One West Court Square for $45.1 million, and Parkway at Avalon Portfolio for $79.5 million
  • Largest office submarkets: Central Perimeter, Northwest Atlanta, Midtown, Northeast 

Discover Atlanta office space for lease. 

Atlanta Retail Market

Sales of retail properties in Atlanta recently hit an all-time high, driven by strong consumer retail sales and a burst of investor demand. Activity for all types of retail buildings in Atlanta is seeing stronger interest from investors, with retail listings often seeing ten or more bids from qualified investors:

  • Total retail inventory: 348,390,240 SF
  • Market rent: $19.40 per SF per year, NNN
  • Vacancy rate: 4.5%
  • Absorption: 4.3 million SF in 2021
  • New construction: 1.2 million SF delivered in 2021 with 2.2 million SF under construction
  • Sale summary: Market cap rate 7.2%, average price/SF $229, $882 million sold in Q4 2021
  • Largest retail submarkets: Gwinnett, North Cobb, South Metro, Georgia 4000

Discover Atlanta retail space for lease.

Atlanta Multifamily Market

Effective rents for apartments in Atlanta increased by nearly 20% over the past 12 months, with multifamily demand driven by population and job growth, a relatively low cost of living, and a business-friendly government. According to Multi-Housing News, metro Atlanta is recording some of the strongest rate gains in the country:

  • Total housing units: 2,364,761
  • Renter occupied: 36%
  • Effective rent per unit: $1,567
  • Effective annual rent growth: 19.9% year-over-year
  • Vacancy rate: 5.5%
  • New construction: 7,632 units delivered in 2021, with 21,800 units currently under construction
  • Sales activity: Median sales price per unit $216,270, $6.95 billion sold in Q4 2021
  • Median household income: $71,742
  • Per capita income: $37,331

Discover Atlanta multifamily property for sale.

How Crexi Connects Buyers and Tenants to Atlanta Commercial Real Estate

Buyers and tenants have never had an easier time seeking and acquiring Atlanta commercial property. As a Sun Belt star and one of the fastest-growing metros in the US, Atlanta represents a thriving CRE market and plentiful opportunities.

Investors can easily browse for Atlanta commercial property on Crexi with a few clicks, narrowing their search scope by asset class, property type, the price per square footage, size, neighborhood, and amenities. Upon finding the perfect listing, a buyer or tenant can instantly reach out to the commercial broker, download OMs and brochures, and even submit a letter of intent (LOI) via Crexi’s secure platform. 

Intelligence Equips Investors with Data and Market Knowledge 

Before making a property investment, Atlanta buyers and tenants can harness Crexi’s Intelligence subscription to get a clear, thorough understanding of the market. Intelligence contains a comprehensive data library of millions of third-party-verified and first-party-closed sales comparables and property records and in-depth data on each property page.

Using Crexi Intelligence, tenants and buyers can comfortably make the best property investment decisions as they seek Atlanta property for lease or sale.

Intelligence is available to buyers, sellers, and tenants on a subscription basis.

How Atlanta Brokers Thrive with Crexi

Atlanta commercial agents already use Crexi’s virtual marketplace to represent more than 300 properties for sale and more than 1200 commercial buildings for rent in Fulton County. As the metro thrives after COVID-impacted vacancies, rates are already climbing and the market is seeing positive absorption across asset classes.

Brokers in Atlanta and beyond harness the power of Crexi to quickly list and market properties and identify engaged, qualified buyers and tenants. Atlanta agents can easily market listings of various asset classes, including:

  • Offices
  • Industrial buildings
  • Multifamily developments
  • Retail properties
  • Land parcels
  • Hospitality assets
  • Mixed-Use buildings
  • Non-traditional properties such as data centers, self-storage, etc.

As an all-in-one platform, Crexi’s tech suite provides Atlanta brokers with the tools to navigate properties from list to close. Brokers can track buyer and tenant engagement in real-time and evaluate intent with Crexi’s lead scores system. Agents also utilize the platform’s secure due diligence vault for simplified file storage and management.

And while Crexi’s free broker tools are substantial, commercial agents unveil the real power of Crexi with Sale PRO, Lease PRO, and All PRO

Crexi’s All PRO Membership

Atlanta commercial brokers use PRO to automate their workflow and focus on closing more deals. PRO subscriptions feature robust lead management tools with highly detailed contact data that pairs brokers with the best-matched buyers and tenants.

PRO also enhances cross-team collaboration, equipping brokerages with branded and downloadable lead reports direct from Crexi’s platform. Brokers using PRO also receive preferential placement atop Crexi’s search result pages, getting in front of more eyeballs.

Further, Crexi markets Atlanta properties on behalf of PRO brokers with weekly emails sent directly to a database containing hundreds of thousands of actively-seeking property searchers. Each email is tailored to a buyer or tenant’s search behavior and selects the best-fitting PRO listings depending on their needs. With Crexi’s machine-learning-powered marketing emails, PRO brokers enjoy a 10-15% higher click-through rate on their listings than industry averages.

PRO members also receive access to Crexi Intelligence’s library of property records, sales comparables, and MSA reports as a part of their membership.

Atlanta brokers and those nationwide harness Crexi PRO to engage with over 450,000 leads interested in the metro in the last two years and over 12.5 million leads nationwide who searched using Crexi in 2021

On average, PRO brokers connect with 125% more leads and earn between six-to-eight times more deals than non-PRO members.

Contact to learn more about All PRO.

Similar Articles

Shanti Ryle
Shanti Ryle

Content Marketing Manager

Shanti leads Crexi's content marketing strategies with 7+ years of content development experience, creating everything from blog posts to award-winning podcasts. Previously, she worked on content teams at Snapchat, Weedmaps, and HopSkipDrive as well as developed copy, articles, and media for freelance publications.

Share This Article