Atlanta Retail Market Report

Strong demographics buoy the metro's retail landscape. Atlanta's resident base will expand by nearly 70,000 people this year, aided by the net in-migration of 45,000 individuals. Only four other markets will record larger population gains this year, a noteworthy standing that continues to support local retailers. Metro vacancy will end the year 100 basis points below the level exiting 2019, outperforming the national trend even as the local pace of demand growth tempers. Net absorption in the first quarter was the lowest for a three-month span since 2020, indicating a slower period for store openings going forward. Elevated borrowing costs are constraining the volume of venture capital available in the market for expansions. Several vendors are nevertheless opening here this year, including recent or upcoming move-ins by Dollar Tree, Planet Fitness and Trader Joe's.