Q1 2011 | NORTHEAST ATLANTA
ATLANTA
SUBMARKET REPORT
TRENDS & HIGHLIGHTS
Square Feet
NEW SUPPLY, ABSORPTION AND VACANCY RATES
169,275,384
Total SF
1,500,000
18%
Vacancy Rate
1,000,000
16%
YTD Net Absorption
642,736
YTD Deliveries
482,223
Under Construction
215,000
500,000 14% 0 (500,000)
1Q10
2Q10
3Q10
4Q10
1Q11
12%
(1,000,000)
10%
(1,500,000)
8% Absorption
Deliveries
14.8%
Avg. Warehouse Rate
$3.39 NNN
Source: CoStar Property, Colliers Research
Vacancy
MARKET INDICATORS Projected
Q1 2011
UPDATE Recent Transactions in the Market
Q2 2011
SALES ACTIVITY
—
VACANCY NET ABSORPTION CONSTRUCTION RENTAL RATE
—
PROPERTY ADDRESS
SALE PRICE
SIZE SF
PRICE / SF
BUYER
235 Hog Mountain Rd.-A
$22,000,000
459,134
$47.92
LaSalle Investment Mgmt
—
2221 Northmont Pkwy.-700
$14,500,000
171,286
$84.65
Colony Realty Advisors
—
3025 Evergreen Dr.
$5,189,000
199,738
$25.98
Air Gas Safety
265 John B. Brooks Rd.
$3,100,000
83,113
$37.30
RESILUX America LLC
Northeast
LEASING ACTIVITY
www.colliers.com/atlanta
TENANT
PROPERTY ADDRESS
SIZE SF
TYPE
Echosphere
Suwanee Creek Bus. Park
95,538
Warehouse Renewal
C&L Logistics
6550 Jimmy Carter Blvd.
80,342
Warehouse Lease
SED International
3505 Newpoint Pkwy.
71,884
Warehouse Lease
Hilldrup Moving & Storage
Progress Distr. Ctr. III
62,500
Warehouse Lease
•
Northeast Atlanta was one of six industrial submarkets to experience positive absorption in the first quarter. The submarket had the second highest occupancy increase during the period at 642,736 SF. The largest move-in was Aldi Foods which occupied 482,223 SF in its newly delivered build-to-suit.
•
Vacant space in Northeast Atlanta remains the highest in all of Atlanta’s industrial market. The good news is the submarket’s vacancy rate has been on a downwards trend since this time last year.
•
The overall average rental rate for Northeast Atlanta showed no movement from the prior quarter. Rental rates here are likely to remain steady for at least the next few quarters.
•
The only remaining building under construction in the submarket is FedEx Ground’s new distribution center of 215,000 SF. The project recently broke ground and is scheduled for a fourth quarter delivery.
MARKET REPORT | Q1 2011 | ATLANTA INDUSTRIAL | NORTHEAST ATLANTA
COLLIERS INTERNATIONAL NORTHEAST ATLANTA INDUSTRIAL LISTINGS
480 offices in 61 countries on 6 continents
6
United States: 135 Canada: 39 Latin America: 17 Asia Pacific: 194 EMEA: 95
7 16 2 13
11 19 20 10
9
18
5 8
management • Over 15,000 professionals
14
3 4 17
$2 billion in annual revenue
• Over 2 billion square feet under
15 12
•
UNITED STATES:
1
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
FOR LEASE #
PROPERTY
SF AVAIL.
BROKER(S)
1
Oakbrook Summit
Availabilities
Elizabeth McSweeney
2
Northbrook Summit
6,000-40,800
Price Weaver / Mike Spears
3
Northbelt Business Park
Availabilities
Doug Tyler
4
Brook Hollow Distribution Ctr.
27,200-51,800
Elizabeth McSweeney
5
1280 Lakes Pkwy.
82,076
Elizabeth McSweeney / Bill Buist
6
1001 Cherry Dr.
97,205
Price Weaver / Bill Buist
7
Suwanee Creek
Availabilities
Elizabeth McSweeney
8
1300 Lakes Pkwy.
93,746
Elizabeth McSweeney / Bill Buist
9
Breckinridge North
Availabilities
Elizabeth McSweeney
10
4955 Avalon Ridge Pkwy.
16,550-28,527
Bill Buist / Elizabeth McSweeney
11
620 Old Peachtree Rd.
44,110
Bill Buist / Elizabeth McSweeney
12
Norcross Center
6,000-29,647
Elizabeth McSweeney
13
Gwinnett Progress Ctr.-200
103,925
Rick Vaughn
14
4245 International Blvd.
249,200
Ryan Sawyer / Mike Spears
15
6100 Atlantic Blvd.
217,497
Elizabeth McSweeney
16
2935 Shawnee Ind. Way
196,215
Elizabeth McSweeney / Bill Buist
17
6334-6452 Warren Drive
3,840-20,720
Lee Cardwell
18
Newpoint Commons
7,641-196,215
Elizabeth McSweeney
SF AVAIL.
BROKER(S)
COLLIERS INTERNATIONAL ATLANTA INDUSTRIAL SPECIALISTS: Marty Arnold
Elizabeth McSweeney
Douglas Biggs
Scott Plomgren
Sean Boswell
Henry Sawyer
Bill Buist
Ryan Sawyer
Lee Cardwell
Mike Spears
Chris Cummings
Rick Vaughn
Ben Logue
Price Weaver
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.
FOR SALE #
PROPERTY
2
Northbrook Summit
46,800
Price Weaver / Mike Spears
6
1001 Cherry Dr.
97,205
Price Weaver / Bill Buist
15
6100 Atlantic Blvd.
217,497
Elizabeth McSweeney
19
3025 Evergreen Drive
199,738
Price Weaver / Ben Logue
20
2444 Meadowbrook Pkwy.
222,524
Scott O’Halloran / Dennis Mitchell
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