Q1 2012 | NORTHEAST ATLANTA
ATLANTA
SUBMARKET REPORT
TRENDS & HIGHLIGHTS
Square Feet
NEW SUPPLY, ABSORPTION AND VACANCY RATES 800,000
16%
700,000
15%
600,000
14%
500,000
13%
400,000
12%
300,000
11%
200,000
10%
100,000
9% 8%
0 1Q11
2Q11 Absorption
3Q11
4Q11
Deliveries
169,747,243
Total SF Vacancy Rate
14.1%
YTD Net Absorption
291,169
YTD Deliveries
27,500 763,657
Under Construction Avg. Warehouse Rate
1Q12
$3.47 NNN
Source: CoStar Property, Colliers Research
Vacancy
MARKET INDICATORS Projected
Q1 2012
UPDATE Recent Transactions in the Market
Q2 2012
SALES ACTIVITY VACANCY PROPERTY ADDRESS
NET ABSORPTION CONSTRUCTION RENTAL RATE
—
SALE PRICE
SIZE SF
PRICE / SF
BUYER
Brickton Ind. Park I-IV
$11,500,000
257,376
$44.68
Cobalt Industrial REIT
1680-1700 Executive Dr.
$10,281,396
201,596
$51.00
Cabot Industrial Prop.
Northmont Atlanta - 600
$9,325,000
157,820
$59.29
Dividend Capital
2775 Northwoods Pkwy.
$5,300,000
32,192
$164.64
Carter Validus REIT
Northeast
LEASING ACTIVITY
www.colliers.com/atlanta
TENANT
PROPERTY ADDRESS
SIZE SF
TYPE
Carter’s Inc.
Park 85 at Braselton
1,061,663
Distribution Lease
Toyota Industries
Jackson County Parcel
598,980
New Manufacturing Plant
Echosphere
215 Satellite Blvd.
95,538
Warehouse Renewal
Georgia Expo
3355 Martins Farm Rd.
86,031
Warehouse Lease
•
Northeast Atlanta began the year with the second highest amount of industrial space absorbed in the Atlanta market. Occupancy increased by almost 300,000 square feet in the first quarter. This was the sixth consecutive quarter of positive absorption for the submarket.
•
First quarter’s move-in activity came mostly from small industrial users. The largest move-in of the quarter was IMS Gear which occupied 95,318 SF. The increase of small business activity in Northeast Atlanta is a welcomed sign of improving market conditions.
•
When it comes to buzz in the market, Northeast Atlanta is getting the most. A lot of synergy is taking place in Atlanta’s largest industrial submarket. Recent large-sized transactions by Carter’s, Toyota Industries and Caterpillar are expected to provide new jobs and much needed growth to the area.
MARKET REPORT | Q1 2012 | ATLANTA INDUSTRIAL | NORTHEAST ATLANTA
COLLIERS INTERNATIONAL NORTHEAST ATLANTA INDUSTRIAL LISTINGS
522 offices in 62 countries on 6 continents
6
United States: 147 Canada: 37 Latin America: 19 Asia Pacific: 201 EMEA: 118
7 16 2 •
21 10
12 11 8
9
$1.8 billion in annual revenue
• Over 2.5 billion square feet under 18
5
management • Over 12,000 professionals
13 14
3 4 19 20 1 15 17
UNITED STATES: 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
Scott Plomgren / Scott O’Halloran
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
Darren Ross / Lee Cardwell
5
Corporate Lakes
Availabilities
Darren Ross / Bill Buist
6
1001 Cherry Dr.
97,205
Price Weaver / Bill Buist
7
Suwanee Creek
Availabilities
Darren Ross / Lee Cardwell
8
3289-3293 McCall Drive
18,000-56,228
Ryan Sawyer
9
Breckinridge North
Availabilities
Darren Ross / Lee Cardwell
10
4955 Avalon Ridge Pkwy.
28,527
Bill Buist
11
2650 Button Gwinnett Rd.
70,000
Chris Cummings / Sean Boswell
12
Norcross Center
6,000-29,647
Darren Ross / Lee Cardwell
13
4260 Communications Dr.
43,657
Darren Ross
14
4245 International Blvd.
249,200
Ryan Sawyer / Mike Spears
15
Oakbrook Distribution Ctr.
2,233-24,086
Scott Plomgren / Scott O’Halloran
16
2935 Shawnee Ind. Way
196,215
Darren Ross / Bill Buist
17
6334-6476 Warren Drive
3,472-23,154
Lee Cardwell
18
Newpoint Commons
18,280-168,200
Darren Ross / Lee Cardwell
19
5801/5901 Goshen Springs Rd.
7,200-25,843
Darren Ross / Lee Cardwell
20
Oakbrook Place
Availabilities
Scott Plomgren / Scott O’Halloran
SF AVAIL.
BROKER(S)
COLLIERS INTERNATIONAL ATLANTA INDUSTRIAL SPECIALISTS: Marty Arnold
Scott Plomgren
Douglas Biggs
Darren Ross
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 520 offices throughout 62 countries worldwide.
FOR SALE #
PROPERTY
2
Northbrook Summit
6,000-40,800
Price Weaver / Mike Spears
6
1001 Cherry Dr.
97,205
Price Weaver / Bill Buist
21
2444 Meadowbrook Pkwy.
222,524
Scott O’Halloran / Dennis Mitchell
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