Atlanta Retail Market Report

Population trends and extensive pre-leasing curtail vacancy rise. Atlanta is set to rank among the nation’s top 25 markets for retail sales growth this year, bolstered by the largest net in-migration count in the eastern United States and population growth more than double the national pace. This demographic momentum is joined by easing CPI inflation, as Atlanta’s measure dipped below 3 percent year over year in the latter half of 2024. Still-elevated prices nevertheless continue to orient consumer demand toward discounted products, which may prompt further local expansion from value retailers. Publix will open another location this year, attended by a new Ross and multiple Dollar Tree stores. Even if evolving trade policy raises inflation, metrowide vacancy is in a good position, as only a slight increase is expected this year. Record-low completions — over 80 percent of which were pre-leased as of February — should funnel demand into existing spaces, equating to a year-end vacancy rate of just 4 percent.