I-75 Corridor Emerges as the 3rd Most Active Industrial Submarket in the U.S.
The Rapid Ascend of I-75 Corridor Submarket
Emerging as the third most active industrial submarket in the United States, the I-75 Corridor submarket of Atlanta has landed itself a spot in the nation’s top 5 fastest-growing submarkets – all thanks to the ongoing and upcoming constructions in the region.
Attributing to the current growth is the significant amount of 4.6 million square feet of industrial space that is under development in the I-75 Corridor submarket. The existing projects, contributing 5.4% to the total industrial inventory of the submarket, place the Corridor at the 6th position for the highest inventory percentage growth among the top 100 industrial submarkets in the U.S.
Shift in Industrial Activities
It is the sizeable six different industrial projects that have been central to the current pipeline, with each featuring an average of 770,000 square feet of industrial space – spotlighting an impressive scale of individual construction projects. A large chunk of these developments, around 70%, originates from the I-75 Corridor submarket and can be attributed to the wider Atlanta market.
This surge in the Corridor’s industrial inventory has been the result of the increased investors’ interest and favorable governmental subsidies. The number of submarkets that have magnified or doubled in size due to such developments over the past decade stands at six.
Growth Analysis of Industrial Submarkets
To shed more light on the structural shifts within different industrial submarkets, the top 100 largest industrial space submarkets were reviewed. These included submarkets with extensive future constructions in the pipeline and those that exhibited significant growth over the past ten years. The regions that have seen significant industrial expansion aren’t uniformly spread across the country, hence this examination is essential to understand the dynamics.
Top Industrial Submarkets in the US
Included in the list of 100 largest submarkets, West Phoenix submarket proudly stands at the top with 7.8 million square feet of space currently under construction. It dwarfs any other submarket in the country by holding the largest industrial construction pipeline based on the ongoing analysis.
These quantitative indicators are significantly affecting the U.S. industrial landscape rendering certain areas as slowly developing hotspots for industrial activities. As the I-75 Corridor submarket and other top contenders like the West Phoenix submarket continue to develop and expand, it remains to be seen where this kind of growth will take the U.S. industrial submarket in the upcoming years.
Read the full study to explore the U.S. submarkets with the most upcoming industrial space based on an analysis of the 100 largest or delve into the past decade of leading submarkets in a separate section.
