Q3 2010 | I-20W/FULTON INDUSTRIAL
ATLANTA
SUBMARKET REPORT
TRENDS & HIGHLIGHTS NEW SUPPLY, ABSORPTION AND VACANCY RATES 0 4Q09
1Q10
2Q10
18%
Vacancy Rate
16.3%
16%
YTD Net Absorption
3Q10
Square Feet
(100,000)
3Q09
91,050,566
Total SF
(200,000) 14%
(300,000)
(617,851)
YTD Deliveries
0
Under Construction
0
12%
(400,000) (500,000)
10%
(600,000)
8% Absorption
Deliveries
Avg. Warehouse Rate
$2.85 NNN
Source: CoStar Property
Vacancy
MARKET INDICATORS Q3 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
9103 Riverside Pkwy.
$16,700,000
593,404
$28.14
Medline Industries
1250 Terminus Dr.-Bldg. 1
$14,500,000
330,000
$43.94
High Street Equity Adv.
6047,6049 Fulton Ind. Blvd.
$7,810,000
410,806
$19.01
KTR Capital Partners
301 Wharton Cir.
$1,350,000
60,085
$22.47
WHAH, LP
I-20 West/ Fulton Ind
LEASING ACTIVITY
www.colliers.com/atlanta
TENANT
PROPERTY ADDRESS
SIZE SF
TYPE
Contrapac
655-675 Great SW Pkwy.
120,000
Warehouse Renewal
Decoma International
100 Performance Way
104,171
Warehouse Lease
Contrapac
5400 Bucknell Dr.
93,113
Distribution Renewal
Integracore Atlanta LLC
7750 The Bluffs
60,900
Distribution Lease
•
I-20 West/Fulton Industrial posted yet another negative quarter of industrial space absorption in third quarter, losing 326,000 SF of tenants during the period. Over the past two years, the submarket’s industrial occupancy has dropped by almost 2.5 million square feet.
•
Most of the leasing activity in I-20 West/Fulton Industrial has been for smaller deals ranging between 30,000 to 70,000 SF. The submarket continues to lose out on the larger space requirements in the market due to much of the area’s inventory being functionally obsolete. Despite this, some pockets in I-20 West/Fulton Industrial have large enough parcels to support build-to-suits.
•
A recent plan signed off by the Fulton County Commission will establish a new community improvement district (CID) for the submarket which aims to bring more business to the area.
MARKET REPORT | Q3 2010 | ATLANTA INDUSTRIAL | I-20W/FULTON INDUSTRIAL
COLLIERS INTERNATIONAL I-20 WEST/FULTON INDUSTRIAL LISTINGS B
Park Cla yR d
ine
480 offices in 61 countries on 6 continents
Rd
nta
Fo
er La ke R
wy
o Co
ad H
khe
Ban
d
p
Hwy
d
hR
ga
M
Pis
le Pk
ill
wy
M
N
ns Qu ee
or y
ct
s
ve rs id e
Ch
at
t
ah
c oo
R
he
r d
e
lv
lB
y Ferr ers Bak
ria
st
u nd
Southwest Hospital
Cascade Rd
EM
ays
Cascade Rd Childress Dr
pe
Ho
Camp Creek Pkwy
rs
d
id
e
Ca
mp
be
Sandtown Park
llto
n Rd
Dr
Cascade Ca a cad de Heights H He e ghts ts
Melvin Drive Park Melvin Dr
Frwy
Panther Trail
Colliers International 1349 West Peachtree Street Suite 1100 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
Dr
od
Marty Arnold
Ben Logue
Douglas Biggs
Elizabeth McSweeney
Sean Boswell
Henry Sawyer
Bill Buist
Ryan Sawyer
Lee Cardwell
Mike Spears
Chris Cummings
Rick Vaughn
Chris Irby
Price Weaver
wo
ke
Rd
La
d
Rd Rd
Ben Hill
ar Greenbri
Pk
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
780 Douglas Hill Rd.
107,000
Sean Boswell / Lee Cardwell
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
6
3376 Highway 5
14,725
Douglas Biggs / Price Weaver
Rd
er tn Bu
Greenbriar Mall
ll
E
wy
Hi
n no
n
ton R
Be
pbell
Fairburn
n
min
Rd
MLK Jr
lto
Cam
Danforth Rd
w
Dr
Fu
Rd
nja
Ne
ve
lv
Be
Andre ws D r
Kimbe rly Rd
ck Ro
La Grange Blvd
B
t oa
Ri
lB
Hamilton E. Holmes on
FU LTO N COU NTY
Trammell Crow Park
Blvd
5 ria
Fer ry Rd
Boulder Park Dr
Fairburn Rd
Rd
wy
e
3
de
1
st
n
I
n
si
du
nso
Wilson Mill Park
v Ri
In
UNITED STATES:
Joh
Rd
lto
Fu
Pkwy
er
e iv
Pk
Hou
ek Camp Cre
ll R Hi
D OUG LA S COU NTY
Rd
Collier Dr
y
Ri
s
4
management • Over 15,000 professionals
Pe yt
Fa
Rd
Fl
ag
las
ck
Dr
Six Flags Over Georgia Pkw
ite
x
Ro
ield
$2 billion in annual revenue
• Over 2 billion square feet under
o
Sh
Si
d
•
Rd
Wh
Dou g
Dr
Fulton County Airport Brown Field
erf
Fl
x
2
mm
s ag
es t
Rd
Fairburn Rd
Drive
Si
als
Su
Rd
Six Flags
6
th
ge
rid
ir B
w
ale kd Oa
Hi llc re st Dr
Rd
United States: 135 Canada: 39 Latin America: 17 Asia Pacific: 194 EMEA: 95
or
S Gordon Rd
Bla
Pkwy
n
d
to
Wallace Park
don R
Rd
Rd
ab
S Gor
Whittier Mill Park
Hollywood Rd
Old A
a Rd
Bo lto n
d
aR labam
kson James Jac
James Rd
Nickajack Park Ba nk he ad
Old Alabam
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.
Accelerating success.
www.colliers.com/atlanta