Q1 2012 | I-20W/FULTON INDUSTRIAL
ATLANTA
SUBMARKET REPORT
TRENDS & HIGHLIGHTS
Square Feet
NEW SUPPLY, ABSORPTION AND VACANCY RATES 600,000
17%
500,000
16%
400,000
15%
300,000
14%
200,000
13%
100,000
12%
0 (100,000)
11% 1Q11
2Q11
3Q11
4Q11
1Q12
10%
(200,000)
9%
(300,000)
8% Absorption
Deliveries
90,981,645
Total SF Vacancy Rate
14.6%
YTD Net Absorption
253,432
YTD Deliveries
0
Under Construction
0
Avg. Warehouse Rate
$2.92 NNN
Source: CoStar Property, Colliers Research
Vacancy
MARKET INDICATORS Projected
Q1 2012
UPDATE Recent Transactions in the Market
Q2 2012
SALES ACTIVITY VACANCY NET ABSORPTION CONSTRUCTION
—
RENTAL RATE
PROPERTY ADDRESS
SALE PRICE
SIZE SF
PRICE / SF
BUYER
747 Douglas Hill Rd.
$40,000,000
913,000
$43.81
LaSalle Investment Mgmt
4785 Fulton Industrial Blvd.
$5,125,000
342,400
$14.97
Waste Pro USA
800 Wharton Dr.
$1,371,316
59,878
$22.90
Duffy Box & Recycling
345 Patton Dr.
$1,250,000
69,126
$18.08
M&F Business Corp.
I-20 West/ Fulton Ind
LEASING ACTIVITY
www.colliers.com/atlanta
TENANT
PROPERTY ADDRESS
SIZE SF
TYPE
New Breed Logistics
5400 Fulton Industrial Blvd.
448,448
Warehouse Lease
Allied Aerofoam
605 Selig Dr.
170,000
Warehouse Lease
Victory Packaging
6047 Fulton Industrial Blvd.
128,000
Distribution Lease
EXPOPLUS Inc.
1055 Research Ctr. Atl. Dr.
65,280
Distribution Renewal
•
The I-20 West/Fulton Industrial submarket continues to show improvement in filling vacant space. First quarter absorption totaled just under 250,000 square feet which resulted in the overall vacancy rate for the submarket dropping for the third consecutive quarter.
•
Despite a plethora of obsolete industrial space, demand in I-20 West/Fulton Industrial is maintaining a steady course; mostly from smaller space users. The submarket’s location is ideal to companies seeking close proximity to rail, interstate and airport access.
•
Construction should begin on IDI’s 650,000 square foot spec industrial building soon. This will be the largest spec industrial building since 2008. Given the updated features offered by the new building, it will be a matter of time before it is 100% leased.