3Q 2011 | Atlanta I-20 W Fulton Industrial | Market Report

Page 1

Q3 2011 | I-20W/FULTON INDUSTRIAL

ATLANTA

SUBMARKET REPORT

TRENDS & HIGHLIGHTS NEW SUPPLY, ABSORPTION AND VACANCY RATES 17%

800,000

16%

600,000

15%

Square Feet

1,000,000

14%

400,000

13%

200,000

12%

0

(200,000)

3Q10

4Q10

1Q11

2Q11

3Q11

10% 9%

(600,000)

8% Deliveries

Vacancy Rate

15.4%

YTD Net Absorption

(524,945)

YTD Deliveries

0

Under Construction

0

11%

(400,000)

Absorption

92,043,478

Total SF

Avg. Warehouse Rate

Vacancy

$3.01 NNN

Source: CoStar Property, Colliers Research

MARKET INDICATORS Projected

Q3 2011

UPDATE Recent Transactions in the Market

Q4 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

Boxercraft

7131 Discovery Blvd.

148,300

Warehouse Lease

Best Warehouse & Trans.

6255 Fulton Industrial Blvd.

120,960

Warehouse Lease

Guest Supply

780 Douglas Hill Rd.-Bldg. 5

107,445

Warehouse Lease

TGI Tuff Glass

5550 Westpark Dr.

96,274

Warehouse Lease

For the third consecutive quarter, the I-20 West/Fulton Industrial submarket saw its overall vacancy increase. Another 125,000 square feet of vacant industrial space hit the submarket in third quarter.

I-20 West/Fulton Industrial’s year-to-date absorption is the worst in Atlanta’s industrial market. Much of the larger leasing activity is taking place in the South Atlanta submarket. In addition, leasing activity from smaller tenants is absent here as well.

Going forward, the submarket should see a slight drop in its vacancy in the fourth quarter. Czarnowski will move into 569,673 SF of warehouse/distribution space at Hartman V which will be the largest move-in for fourth quarter. Beyond 2011, the submarket should begin to see some pickup in activity.


MARKET REPORT | Q3 2011 | ATLANTA INDUSTRIAL | I-20W/FULTON INDUSTRIAL

COLLIERS INTERNATIONAL I-20 WEST/FULTON INDUSTRIAL LISTINGS B

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FOR LEASE

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:

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Marty Arnold

Elizabeth McSweeney

Douglas Biggs

Scott Plomgren

Sean Boswell

Henry Sawyer

Bill Buist

Ryan Sawyer

#

PROPERTY

SF AVAIL.

BROKER(S)

Lee Cardwell

Mike Spears

1

120 Interstate West Pkwy.

14,400

Sean Boswell / Chris Cummings

Chris Cummings

Rick Vaughn

2

780 Douglas Hill Rd.

107,000-215,025

Sean Boswell / Lee Cardwell

Ben Logue

Price Weaver

3

9000 Riverside Pkwy.

259,954-542,491

Scott Plomgren / Price Weaver / Sean Boswell

4

6215 Fulton Industrial Blvd.

15,824

Scott Plomgren

5

5400 Fulton Industrial Blvd.

448,448

Scott Plomgren

6

6355 Boat Rock Blvd.

296,260

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

10

5125 Fulton Industrial Blvd.

149,386

Chris Cummings / Sean Boswell

11

6070 Fulton Industrial Blvd.

227,600

Scott Plomgren / Price Weaver / Sean Boswell

12

777 Douglas Hill Rd.

217,603

Scott Plomgren / Price Weaver / Sean Boswell

13

5320 Fulton Industrial Blvd.

29,917-60,502

Scott Plomgren / Price Weaver / Sean Boswell

14

6150 Lagrange Blvd.

70,501

Scott Plomgren / Price Weaver / Sean Boswell

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.

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

5125 Fulton Industrial Blvd.

149,386

Chris Cummings / Sean Boswell

15

5020 Bakers Ferry Rd.

45,089

Scott Plomgren

www.colliers.com/atlanta

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