Q1 2011 | I-20W/FULTON INDUSTRIAL
ATLANTA
SUBMARKET REPORT
TRENDS & HIGHLIGHTS
Square Feet
NEW SUPPLY, ABSORPTION AND VACANCY RATES
90,804,983
Total SF
1,500,000
18%
Vacancy Rate
1,000,000
16%
YTD Net Absorption
500,000
14%
0
12% 1Q10
2Q10
3Q10
4Q10
1Q11
(500,000)
10%
(1,000,000)
8% Absorption
Deliveries
15.4% (478,578)
YTD Deliveries
0
Under Construction
0
Avg. Warehouse Rate
$2.98 NNN
Source: CoStar Property, Colliers Research
Vacancy
MARKET INDICATORS Projected
Q1 2011
UPDATE Recent Transactions in the Market
Q2 2011
SALES ACTIVITY
—
VACANCY
PROPERTY ADDRESS
NET ABSORPTION CONSTRUCTION RENTAL RATE
— —
SALE PRICE
SIZE SF
PRICE / SF
BUYER
Thornton Rd. Distr. Ctr.
$22,000,000
476,086
$46.21
Colony Realty Partners
—
3710 Atlanta Ind. Pkwy.
$12,500,000
446,664
$27.99
Industrial Income Trust
—
1500,1575 Distribution Ct.
$7,475,000
321,103
$23.28
KTR Capital Partners
605 Selig Dr.
$6,000,000
657,709
$9.12
M.F. DiScala & Co.
I-20 West/ Fulton Ind
LEASING ACTIVITY
www.colliers.com/atlanta
TENANT
PROPERTY ADDRESS
SIZE SF
TYPE
Scott Distribution
4175 Boulder Ridge Dr.
142,352
Warehouse Lease
Invacare
4350-4360 Boulder Ridge
91,418
Warehouse Renewaol
VFU
5480 FIB/5800 Westpark
79,540
Warehouse Lease
Havell’s Lighting
125 A/B Villanova Dr.
74,727
Distribution Lease
•
Following a previous quarter of strong absorption, the I-20 West/Fulton Industrial submarket finished the first quarter of 2011 with the highest amount of space given back by tenants in Atlanta. Absorption in the submarket was (478,578) SF for the period. NIBCO, National Powersport Auction and Bonded Service were the largest move-outs in the quarter.
•
The negative activity raised the overall vacancy rate in I-20 West/Fulton Industrial to 15.4%. This is equal to the rate from this time last year, meaning the current amount of vacant space in the submarket is the same as it was back in first quarter 2010.
•
Going forward, activity is expected to be balanced in the submarket. This does nothing for the space available in the submarket, though it at least shows some leasing activity occurring in the area.