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 ATLANTA INDUSTRIAL SPECIALISTS:
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Ryan Sawyer
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Ben Logue
Price Weaver
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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
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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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