Q2 2010 | I-20W/FULTON INDUSTRIAL
ATLANTA
SUBMARKET REPORT
TRENDS & HIGHLIGHTS
90,418,950
NEW SUPPLY, ABSORPTION AND VACANCY RATES
Total SF
200,000
18%
Vacancy Rate
16%
YTD Net Absorption
15.9%
100,000 0 (100,000)
2Q09
3Q09
4Q09
1Q10
2Q10
(200,000) (300,000)
14%
(325,992)
YTD Deliveries
0
Under Construction
0
12%
(400,000) (500,000)
10%
(600,000) (700,000)
8% Absorption
Deliveries
Avg. Warehouse Rate
$2.84
Source: CoStar Property
Vacancy
MARKET INDICATORS Q2 2010
NEXT QTR
UPDATE Recent Transactions in the Market SALES ACTIVITY
VACANCY NET ABSORPTION CONSTRUCTION
—
—
RENTAL RATE
PROPERTY ADDRESS
SALE PRICE
SIZE SF
PRICE / SF
BUYER
555 Hartman Rd.
$10,800,000
261,799
$41.25
AEW Capital Mgmt.
875 Maxham Rd.-Bldg. B4
$8,750,000
247,000
$35.43
IDI
3735 Atlanta Ind. Pky.
$2,500,000
92,000
$27.17
Wamar Technologies
5850 Tulane Dr.
$2,100,000
101,419
$20.71
McCormick & Co.
I-20 West/ Fulton Ind
LEASING ACTIVITY
www.colliers.com/atlanta
TENANT
PROPERTY ADDRESS
SIZE SF
TYPE
APL Logistics
Douglas Hill Bus. Ctr.-3
295,768
Warehouse Ren. & Contraction
Velocity Express
615 Stonehill Dr.
185,000
Warehouse Renewal
Madras Packaging
6220 Duquesne Dr.
180,000
Warehouse Renewal
Liberty Furniture
6195 Purdue Dr.
152,254
Distribution Renewal
•
I-20 West/Fulton Industrial has been hardest hit by the economic slowdown. For the fifth consecutive quarter, the submarket’s total occupancy decreased. Second quarter absorption was negative (222,199) SF.
•
Over the past year and a half, I-20 West/Fulton Industrial’s vacancy rate has risen 1.9%, roughly amounting to 1.7 million square feet of vacant space added during this time.
•
The outlook for I-20 West/Fulton Industrial remains bleak. The bulk of the activity occurring is mostly in the form of renewals. New leasing activity in the submarket is lackluster at best.
•
The outer reaches of the submarket are likely to recover quicker than the more functionally obsolescent areas closer to the city. Many of the requirements in the market are looking for new and up-to-date industrial space in the form of build-to-suits.
MARKET REPORT | Q2 2010 | ATLANTA INDUSTRIAL | I-20W/FULTON INDUSTRIAL
COLLIERS INTERNATIONAL I-20 WEST/FULTON INDUSTRIAL LISTINGS B
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FOR LEASE #
PROPERTY
SF AVAIL.
BROKER(S)
1
6355 Boatrock Blvd.
296,260
Sean Boswell
2
120 Interstate West Pkwy.
14,400
Sean Boswell / Chris Cummings
3
4300 Westpark Dr.
216,074
Douglas Biggs / Lee Cardwell
4
4040 Shirley Dr.
10,000
Lee Cardwell / Chris Cummings
5
6255 Fulton Industrial Blvd.
120,960
Lee Cardwell / Douglas Biggs
FOR SALE #
PROPERTY
SF AVAIL.
BROKER(S)
1
6355 Boatrock Blvd.
296,260
Sean Boswell
4
4040 Shirley Dr.
10,000
Lee Cardwell / Chris Cummings
6
3376 Highway 5
14,725
Douglas Biggs / Price Weaver
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ATLANTA CHRISTIAN COLLEGE
This market report is a research document of Colliers International. Information herein has been deemed reliable and no representation is made as to the accuracy thereof. Colliers International-Atlanta, Inc., and certain of its subsidiaries, is an independently owned and operated business and a member firm of Colliers International Property Consultants, an affiliation of independent companies with over 480 offices throughout more than 61 countries worldwide.
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