Atlanta Industrial & Warehouse Market Report | Q2 2026

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Atlanta’s industrial market held steady in Q2 2026. Vacancy was flat at 8.5%, occupancy grew by 2.1 million SF, and rents set a new high. Leasing drove the quarter, with 10.2 million SF of new deals led by big blocks and Amazon signing the year’s first lease over 1.0 million SF. Demand is also moving south. I-75 South/Henry County absorbed more space than any other submarket in Q2, while I-85 North gave some back.

Figures are from Cushman & Wakefield’s Q2 2026 Atlanta Industrial MarketBeat unless noted. Prior-quarter and year-ago comparisons use the figures as restated in C&W’s Q2 2026 U.S. Industrial MarketBeat tables. Rents are net asking, quoted in $/SF/yr.

Market Snapshot: Q2 2026

Source: Cushman & Wakefield, Atlanta Industrial MarketBeat Q2 2026. Q1 2026 and Q2 2025 values as restated in C&W’s U.S. Industrial MarketBeat Q2 2026 metro tables; C&W’s Q1 report originally showed 3.0M SF of Q1 absorption. n/a = not restated in the Q2 reports.

Rent Trends: A New High, Up 4.5% on the Year

Overall asking rents reached $7.48/SF/yr NNN in Q2 2026, up from $7.39 in Q1 and $7.16 a year earlier. C&W reports that new construction and sustained demand lifted pricing to a new high. The direct asking rate for all industrial product reached $7.53/SF, and the direct warehouse/distribution rate rose to $7.38/SF. I-75 North (4.8%) and the Georgia 400 Corridor (4.0%) posted the largest quarterly gains.

Atlanta is still a value market for its size. C&W notes that Atlanta’s rents are priced at a discount to the other four U.S. metros that leased more than 10.0 million SF in the quarter. The U.S. overall average in the same release is $10.32/SF/yr NNN, so Atlanta asks about 28% less. Warehouse rents run from $6.14/SF/yr in I-75 South/Henry County to $11.68/SF/yr in the Georgia 400 Corridor. Office service/flex space averages $13.27/SF/yr.

Construction Pipeline: 7.3M SF Underway, Below the Historical Pace

Atlanta completed 2.2 million SF in Q2 2026, against a 2021 to 2025 average of 6.0 million SF per quarter. Seven of the eight buildings delivered were speculative, with 29.0% preleased before completion; the eighth was a 933,656 SF build-to-suit for Amazon in I-75 South/Henry County. Year-to-date deliveries of 3.9 million SF rank fifth in the U.S.

7.3 million SF is under construction, set to deliver by mid-2027, down from 8.2 million SF in C&W’s Q1 report. C&W expects the pipeline to grow as developers gain confidence and move proposed projects forward. The largest pipelines are in I-85 North (2.1 million SF), I-75 South/Henry County (2.1 million SF) and I-20 West/Fulton Industrial (1.4 million SF), where Panattoni is building a 1,178,000 SF build-to-suit for Southwire.

Submarket Breakdown: I-75 South Led Absorption, I-85 North Led Leasing

C&W tracks 10 Atlanta submarkets. The four below are the largest or most active by Q2 2026 leasing, absorption and construction.

I-85 North Corridor

Atlanta’s largest submarket at 200.8 million SF, running northeast through Gwinnett toward Jackson County. It captured about one-third of the metro’s Q2 leasing, including Parts Town’s 538,450 SF lease at Jackson 85 North. Vacancy is 7.2%, and direct vacancy improved 180 bps on the year. Absorption was negative in Q2 (-360,147 SF) but 1.9 million SF positive year to date. 2.1 million SF is under construction, and warehouse space asks $7.58/SF/yr.

I-75 South / Henry County

The metro’s big-box growth corridor led Q2 absorption at 2.1 million SF, with 2.8 million SF year to date. Amazon signed a 1,219,826 SF lease at PNK Park Lambert and took delivery of a 933,656 SF build-to-suit at Prologis 75 Commerce Center III, and US eLogistics leased 571,517 SF at Gillem Logistics Center. Vacancy is still the metro’s highest at 14.3%, with 2.1 million SF under construction. Warehouse rents are the lowest in Atlanta at $6.14/SF/yr.

Airport / South Atlanta

An 81.4 million SF submarket built around Hartsfield-Jackson’s air cargo operations. C&W reports that it led the metro’s small Q2 rise in direct vacancy, up 60 bps, as speculative deliveries such as the 229,776 SF Aerotropolis East Logistics Center and tenant move-outs added space. Overall vacancy is 11.6%, and absorption was -173,983 SF in Q2. Warehouse space asks $7.04/SF/yr, below the metro average.

I-20 West / Fulton Industrial

The Fulton Industrial Boulevard corridor west of the city, with 106.0 million SF of inventory. Vacancy is 8.0% and warehouse space asks $8.05/SF/yr. Absorption was -323,307 SF in Q2 and roughly flat year to date. The corridor has 1.4 million SF under construction, most of it Southwire’s 1,178,000 SF build-to-suit at Bremen Logistics Center.

Source: Cushman & Wakefield, Atlanta Industrial MarketBeat Q2 2026, market statistics table. Vacancy is overall vacancy; rents are weighted net asking, $/SF/yr.

Co-Warehousing & Flexible Warehouse Space in Atlanta

Atlanta’s co-warehousing market is still emerging, and conditions favor it. Big-block deals dominate the headlines, but C&W reports that most of Atlanta’s Q2 deals were under 50,000 SF. Office service/flex space averages $13.27/SF/yr, well above the $7.31/SF/yr warehouse average.

Atlanta’s flexible-space users range from e-commerce operators that need fulfillment space near Georgia’s population center to film and production companies staging sets and storing props. Contractors storing tools and materials and small manufacturers serving the Southeast round out demand.

Supply stays thin because new construction is aimed at larger users. In its Q1 2026 report, C&W put the average new build in Atlanta at nearly 260,000 SF. Small-bay and co-warehousing units mostly come from conversions of existing multi-tenant buildings or purpose-built operator facilities.

You can browse available small-bay and co-warehousing listings in Atlanta on WareCRE’s marketplace.

Key Trends to Watch

1. Big-Block Leasing Drove a 10.2M SF Quarter

Deals above 500,000 SF made up 40.6% of Q2 leasing volume across just six transactions, including Amazon’s 1.2 million SF lease, the first over 1.0 million SF in 2026. Third-party logistics firms were the most common new tenants, signing three of the five largest deals (Pactra, US eLogistics and GXO). First-half absorption of 5.9 million SF exceeded the first-half totals of 2023, 2024 and 2025.

2. Demand Is Shifting South Along I-75

I-75 South/Henry County absorbed 2.1 million SF in Q2 while I-85 North, the largest submarket, gave back 360,147 SF. I-75 South took 26.8% of the quarter’s leasing, and I-75 North 21.6%, with I-85 North at about one-third. The southern corridor still has the most space to fill, at 14.3% vacancy. For more on how building size shapes these gaps, see Small-Bay vs. Big-Box: What the Vacancy Gap Means in 2026.

3. A New Rail Link to Savannah Adds a Logistics Tailwind

The Georgia Ports Authority’s Gainesville Inland Port opened in early May with direct rail service to the Port of Savannah. C&W says the route is expected to eliminate a 600-mile roundtrip truck trip for many shipments. Gainesville sits in C&W’s I-85 North Corridor submarket, which already leads the metro in leasing. For broader context: Industrial Real Estate Trends & Outlook 2026.

Outlook: What to Watch in Q4 2026

C&W’s Q3 2026 MarketBeats are due in mid-October, with the year-end release to follow. Together they will show whether Atlanta’s strong leasing turns into occupancy.

Big-block move-ins. C&W expects positive absorption to persist into the second half as several tenants take occupancy of spaces over 500,000 SF. A Q3 absorption figure at or above Q2’s 2.1 million SF would confirm it.

I-75 South vacancy. The corridor led absorption but is still 14.3% vacant. A drop there would help move the metro rate below 8.5%.

Pipeline growth. Construction fell to 7.3 million SF in Q2, but C&W expects it to grow as proposed projects move forward. Watch new starts for a signal of how long today’s rent gains can last.

Data sources: Cushman & Wakefield Atlanta Industrial MarketBeat Q2 2026 (headline, submarket and product-type figures; rents net asking, $/SF/yr); Cushman & Wakefield Atlanta Industrial MarketBeat Q1 2026 (Q1 pipeline and average build size); Cushman & Wakefield U.S. Industrial MarketBeat Q2 2026 (restated Q1 2026 and Q2 2025 figures and U.S. averages; rents NNN); Matthews Atlanta, GA Industrial Market Report Q2 2026, citing CoStar data (cap rate and sale pricing only). Each report reflects the most recent vacancy, rental, and construction data available at the time of publication. We refresh our reports as new market data is released, and we’re continually expanding coverage to additional metros.