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ATLANTA-The area’s industrial development has long been a strong component of area growth, given the metro area’s location as a transportation center for highway, rail and air. Occupancy rates for industrial space in the metro market was at 84.8% in the third quarter, according to Richard Bowers & Co.’s analysis. Absorption and deliveries were in balance in the nine markets that comprise the metro area.

The industrial market absorbed 4.2 million sf in the third quarter, and net deliveries totaled 591,178 sf. Total sf of the nine markets is about 334.7 million sf. Currently, some 10.8 million sf is under construction. The northeast quadrant along I-85 corridor is one of the leading areas of development.

The greatest area of development, however, is the Southside around Hartsfield Atlanta International Airport. The airport’s multi-billion dollar expansion program under way is displacing some 3.4 million sf of industrial space. Tenants are looking for new space as their locations are bulldozed to make way for the fifth runway and other new airport facilities.

Developers are rushing to accommodate the companies, primarily distribution facilities, freight forwarders, couriers and cargo firms. Nearly 2.75 million sf of space was delivered or converted in the third quarter to replace the lost space.

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