2Q 2011 | Atlanta I-20 W Fulton Industrial | Market Report

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Q2 2011 | I-20W/FULTON INDUSTRIAL

ATLANTA

SUBMARKET REPORT

TRENDS & HIGHLIGHTS

Square Feet

NEW SUPPLY, ABSORPTION AND VACANCY RATES

91,458,597

Total SF

1,500,000

18%

Vacancy Rate

1,000,000

16%

YTD Net Absorption

500,000

14%

0

12% 2Q10

3Q10

4Q10

1Q11

2Q11

(500,000)

10%

(1,000,000)

8% Absorption

Deliveries

15.5% (698,109)

YTD Deliveries

0

Under Construction

0

Avg. Warehouse Rate

$3.01 NNN

Source: CoStar Property, Colliers Research

Vacancy

MARKET INDICATORS Projected

Q2 2011

UPDATE Recent Transactions in the Market

Q3 2011

SALES ACTIVITY VACANCY NET ABSORPTION CONSTRUCTION RENTAL RATE

PROPERTY ADDRESS

SALE PRICE

SIZE SF

PRICE / SF

BUYER

Hartman III

$22,000,000

525,627

$41.85

Welsh Property Trust

8096 E. Highway 78

$9,221,727

214,320

$43.03

Angelo, Gordon & Co.

1370 Discovery Industrial Ct

$6,000,000

151,800

$39.53

Welsh Property Trust

Hartman IV

$5,400,000

113,748

$47.47

Welsh Property Trust

I-20 West/ Fulton Ind

LEASING ACTIVITY

www.colliers.com/atlanta

TENANT

PROPERTY ADDRESS

SIZE SF

TYPE

Czarnowski Display

Hartman V

569,673

Warehouse/Distribution Lease

Uniforms Direct

777 Douglas Hill Rd.

124,614

Warehouse Lease

Menlo Logistics

6255 Boat Rock Blvd.

110,096

Short-term Warehouse Lease

Cherryman Logistics

780 Douglas Hill Rd.

107,579

Warehouse Renewal

I-20 West/Fulton Industrial experienced a lackluster second quarter with move-outs and move-ins somewhat balanced. For the year to-date, the submarket has lost the largest amount of occupancy in the Atlanta industrial market.

Despite the quiet quarter in terms of absorption, the submarket did see an increase in leasing activity. Czarnowski Display Services signed the second largest lease of the quarter. The transaction is an expansion of the company’s Atlanta operations. Move-in is scheduled for fourth quarter.

The average rental rate for industrial space in the I-20 West/Fulton Industrial submarket has essentially not budged since the fourth quarter of 2009. A handful of lease transactions in the submarket, mostly in older buildings, are being completed with base rental rates below $1/sf NNN.


MARKET REPORT | Q2 2011 | ATLANTA INDUSTRIAL | I-20W/FULTON INDUSTRIAL

COLLIERS INTERNATIONAL I-20 WEST/FULTON INDUSTRIAL LISTINGS B

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Colliers International Two Midtown Plaza | Suite 1100 1349 West Peachtree Street, NE Atlanta, Georgia, 30309 TEL +1 404 888 9000 FAX +1 404 870 2845

COLLIERS INTERNATIONAL ATLANTA INDUSTRIAL SPECIALISTS:

Cascade Sprgs Nature Preserve

Alfred Top Holmes Golf Course

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Marty Arnold

Elizabeth McSweeney

Douglas Biggs

Scott Plomgren

Sean Boswell

Henry Sawyer

Bill Buist

Ryan Sawyer

Lee Cardwell

Mike Spears

Chris Cummings

Rick Vaughn

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PROPERTY

SF AVAIL.

BROKER(S)

1

120 Interstate West Pkwy.

14,400

Sean Boswell / Chris Cummings

2

780 Douglas Hill Rd.

107,000

Sean Boswell / Lee Cardwell

3

6255 Fulton Industrial Blvd.

120,960

Lee Cardwell / Douglas Biggs

4

6215 Fulton Industrial Blvd.

49,960

Scott Plomgren

5

5400 Fulton Industrial Blvd.

448,448

Scott Plomgren

6

6355 Boat Rock Blvd.

296,290

Scott Plomgren

7

5000 Westpark Dr.

32,784

Scott Plomgren

8

4530 Patton Dr.

16,000-26,000

Scott Plomgren

9

100 Doris Williams Industrial

90,000

Chris Cummings / Sean Boswell

FOR SALE #

PROPERTY

SF AVAIL.

BROKER(S)

7

6355 Boat Roack Blvd.

296,290

Scott Plomgren

9

100 Doris Williams Industrial

90,000

Chris Cummings / Sean Boswell

10

3376 Highway 5

14,725

Douglas Biggs / Price Weaver

11

4795 Fulton Industrial Blvd.

100,048

Sean Boswell / Chris Cummings

12

5020 Bakers Ferry Rd.

45,089

Scott Plomgren

13

5133 Fulton Industrial Blvd.

157,055

Chris Cummings / Sean Boswell

www.colliers.com/atlanta

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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 512 offices throughout more than 61 countries worldwide.

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