Atlanta’s Thriving Industrial Property Market Attracts Adidas
Xceligent’s most recent report on Atlanta’s industrial property market (download the Atlanta 2Q Industrial Market Report PDF here) is packed with great news for the property business – falling unemployment, high absorption, sliding vacancy rates, and a strong record of adding industrial-using jobs with almost 24,000 added year-over-year.
New Speedfactory To Set Foot In Cherokee County
The industrial growth in Atlanta metro is strong enough to compel international shoemaker Adidas to locate its newest factory there rather than Asia. A milestone in both local development and industrial automation, the “Speedfactory” headed for the Cherokee County / I-575 area northwest of Atlanta mirrors a similar Adidas facility running in Germany. The new factory is expected to produce 50,000 pairs of shoes per year while employing 160 workers.
3D Printing, Robots and Rap
The Speedfactory design is the result of a successful pilot program run by the company last year that relies heavily on technology and recycling to get the job done. 3D printers and automated manufacturing will meet with recycled polyester and plastic to produce shoes near to consumers in the US market. Boosting sales in the US is a major goal of the company, which has welcomed the recent endorsement of rapper Kanye West to reattach the elusive characteristic of “cool” to the brand, perhaps lost since the 1980s heyday of early rappers Run-DMC.
At 70,000 SF, the new Adidas project joins 2.5 million SF of light industrial inventory online as of 2Q in Atlanta’s Cherokee County area. The suburb’s light industrial space has seen a minor negative absorption in 2Q16, with 4,400 SF of space newly available from Jan 1.
The new Speedfactory is scheduled to open in the second half of 2017. Download a PDF of Xceligent’s Atlanta 2Q2016 Industrial Market Report here.