Q4 2011 | I-20W/FULTON INDUSTRIAL
ATLANTA
SUBMARKET REPORT
TRENDS & HIGHLIGHTS
90,909,346
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
15,424
13%
400,000
12% 200,000
YTD Deliveries
0
Under Construction
0
11%
0 (200,000)
15%
10% 4Q10
1Q11
2Q11
3Q11
4Q11
(400,000)
9% 8%
Absorption
Deliveries
Avg. Warehouse Rate
$2.99 NNN
Source: CoStar Property, Colliers Research
Vacancy
MARKET INDICATORS Projected
Q4 2011
UPDATE Recent Transactions in the Market
Q1 2012
SALES ACTIVITY VACANCY NET ABSORPTION CONSTRUCTION RENTAL RATE
PROPERTY ADDRESS
SALE PRICE
SIZE SF
PRICE / SF
BUYER
6555 Fulton Industrial Blvd.
$12,375,000
375,000
$33.00
KTR Capital Partners
—
Atlanta Ind Park - 6 prop.
$10,000,000
317,764
$31.47
Cobalt Capital Partners
—
660 Campbell Ct.
$7,390,000
223,968
$33.00
KTR Capital Partners
4785 Fulton Industrial Blvd.
$5,125,000
342,400
$14.97
Waste Pro USA
I-20 West/ Fulton Ind
LEASING ACTIVITY
www.colliers.com/atlanta
TENANT
PROPERTY ADDRESS
SIZE SF
TYPE
New Breed Logistics
5400 Fulton Industrial Blvd.
439,487
Warehouse Lease
Allied Aerofoam
605 Selig Dr.
170,000
Warehouse Lease
Best Warehouse & Trans.
6255 Fulton Industrial Blvd.
120,960
Warehouse Lease
Core-Mark International
3655 Atlanta Ind. Dr. - 100
67,238
Warehouse Lease
•
Following three consecutive quarters of negative absorption, the I-20 West/Fulton Industrial submarket saw market conditions improve in the fourth quarter with almost 400,000 SF absorbed. The largest move-in was Czarnowski Display services which occupied 569,673 SF at 7545 Hartman Industrial Way; basically accounting for all of the positive activity.
•
I-20 West/Fulton Industrial has been slower to recover than Atlanta’s two largest industrial submarkets. Whereas vacancy rates have shown some downward trend in South Atlanta and Northeast Atlanta, the overall vacancy rate for I-20 West/Fulton Industrial has remained level.
•
IDI recently announced it will begin construction of Atlanta’s first spec industrial building since 2008 in the submarket at Riverside Business Park. The building will be 650,000 SF.