Atlanta Ends 2022 in Third for US Industrial Leases, Savannah in Fourth

Demand for industrial and logistics warehousing space is driving an increase in megawarehouses, according to CBRE. The largest 100 industrial lease transactions in 2022 included 14 deals in Georgia, eight of which were signed in the Atlanta metro area while six were signed in and around Savannah.

Traditional retailers/wholesalers accounted for 53 of the top 100 deals, expanding their footprints to accommodate e-commerce sales growth and store more inventory. In Atlanta, five of the eight largest leases were signed by retailers/wholesalers. Atlanta’s eight megawarehouse deals, totaling approximately eight million square feet, ranking it third and up from fifth place last year.

Third-party logistics (3PL) operators signed 18 of the top leases nationally, up from only 10 in 2021. Half of Savannah’s largest industrial leases were signed by 3PL firms. Savannah’s six megawarehouse deals ranked it fourth among all US markets. The coastal city did not rank in last year’s report.

“Savannah’s port’s unprecedented container volume growth has fueled the region’s expanding warehouse market, which has doubled in size over the last five years,” said Bill Sparks, EVP of CBRE in Savannah.

Top 10 Leading Markets for Top 100 Lease Transactions in 2022

1. Inland Empire
2. Chicago
3. Atlanta
4. Savannah
5. Dallas-Fort Worth
6. Houston
7. Phoenix
8. Memphis
9. PA I-78/81 Corridor
10. Columbus

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