Q2 2012 | I-20W/FULTON INDUSTRIAL
ATLANTA
SUBMARKET REPORT
TRENDS & HIGHLIGHTS
90,955,494
Total SF
1,000,000
16%
Vacancy Rate
800,000
15%
600,000
14%
Square Feet
NEW SUPPLY, ABSORPTION AND VACANCY RATES
YTD Net Absorption
1,144,698
13%
400,000
12% 200,000
0
YTD Deliveries
11%
0 (200,000)
13.6%
10% 2Q11
3Q11
4Q11
1Q12
2Q12
(400,000)
8% Absorption
Deliveries
Under Construction
653,484
9%
Avg. Warehouse Rate
$2.91 NNN
Source: CoStar Property, Colliers Research
Vacancy
MARKET INDICATORS Projected
Q2 2012
UPDATE Recent Transactions in the Market
Q3 2012
SALES ACTIVITY VACANCY NET ABSORPTION CONSTRUCTION RENTAL RATE
PROPERTY ADDRESS
SALE PRICE
SIZE SF
PRICE / SF
BUYER
Hartman V-7545
$26,350,000
569,673
$46.26
Duke Realty
—
Hartman I-675
$16,100,000
353,983
$45.48
Industrial Income Trust
—
Hartman II-555
$12,650,000
261,799
$48.32
Industrial Income Trust
3755 Atlanta Industrial Pky.
$11,300,000
407,981
$27.70
STAG Industrial Mgmt.
I-20 West/ Fulton Ind
LEASING ACTIVITY
www.colliers.com/atlanta
TENANT
PROPERTY ADDRESS
SIZE SF
TYPE
Subaru
9000 Riverside Pkwy.
306,772
Warehouse Lease
Madras Packaging
6220 Duquesne Dr.
180,000
Warehouse Renewal
Consolidated Container
400 Indeco Blvd.
124,323
Warehouse Renewal
Graphic Dimension
Hartman I
65,259
Warehouse Lease
•
For the fourth consecutive quarter, the I-20 West/Fulton Industrial submarket saw its occupancy level increase. Second quarter absorption, which totaled 873,290 SF was the highest in the submarket since the fourth quarter of 2010.
•
The positive absorption over the past year has resulted in the submarket’s industrial vacancy rate dropping below 14%. During this time, over 1.8 million square feet of vacant space has been filled.
•
IDI began construction of its 653,484 SF spec industrial building this quarter. The distribution facility is expected to deliver by the end of the year.
•
Though only slight, I-20 West/Fulton Industrial is the only major industrial submarket in Atlanta seeing some upward movement in asking rents.