Q2 2010 | NORTHEAST ATLANTA
ATLANTA
SUBMARKET REPORT
TRENDS & HIGHLIGHTS NEW SUPPLY, ABSORPTION AND VACANCY RATES 1,500,000
15%
1,000,000
14%
500,000
13%
0 (500,000)
12% 2Q09
3Q09
4Q09
1Q10
2Q10
11%
(1,000,000)
10%
(1,500,000)
9%
(2,000,000)
8% Absorption
Deliveries
170,858,950
Total SF Vacancy Rate
13.6%
YTD Net Absorption
(502,063) 0
YTD Deliveries Under Construction
482,000
Avg. Warehouse Rate
$2.81
Source: CoStar Property
Vacancy
MARKET INDICATORS Q2 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
1090 Broadway Ave.
$35,000,000
807,990
$43.32
High Street Equity Adv.
—
410 Horizon Dr.
$9,400,000
247,530
$37.98
Shimadzu Scientific
—
1665 Heraeus Blvd.
$4,339,140
111,260
$39.00
RV Industries
Buford Hwy. Distr. Ctr.
$4,050,000
96,160
$42.12
Cabot Properties
Northeast
LEASING ACTIVITY
www.colliers.com/atlanta
TENANT
PROPERTY ADDRESS
SIZE SF
TYPE
United Stationers
125 Horizon Dr.
600,000
Distribution Renewal
Systemax
Jefferson Mill Bus. Park-A
459,134
Warehouse Lease
Kia Motors
Newpoint DC-Bldg. 3
451,200
Warehouse Renewal
Lund International
655 Raco Dr.
219,000
Warehouse Renewal
•
Northeast Atlanta’s second quarter industrial absorption was second highest in the Atlanta market. The 917,000 SF of space absorbed in the submarket was the highest amount since the first quarter of 2008.
•
As a result of the positive absorption, Northeast’s industrial vacancy rate dropped 0.6% from first quarter. Compared to this time last year, however, the rate is up 0.4%, which amounts to almost 780,000 SF of added vacant space.
•
Safelite, Systemax and Dayton Superior were the largest move-ins of second quarter in Northeast Atlanta. Together these companies combined for one million square feet of increased occupancy.
•
Industrial leasing in Northeast Atlanta is expected to remain strong through the remainder of the year..
MARKET REPORT | Q2 2010 | ATLANTA INDUSTRIAL | NORTHEAST ATLANTA
COLLIERS INTERNATIONAL NORTHEAST ATLANTA INDUSTRIAL LISTINGS
480 offices in 61 countries on 6 continents
5 6
United States: 135 Canada: 39 Latin America: 17 Asia Pacific: 194 EMEA: 95
7 16 2 •
11 19 20 10 8
15 13
12
4 18
9
management • Over 15,000 professionals
14
3 17
$2 billion in annual revenue
• Over 2 billion square feet under
UNITED STATES:
1
Colliers International 1349 West Peachtree Street Suite 1100 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
4680 River Green Pkwy.
106,000
Elizabeth McSweeney / Bill Buist
3
Northbelt Business Park
Availabilities
Doug Tyler
4
Newpoint Place IV
21,000-71,884
Ryan Sawyer / Chris Irby
5
625 Braselton Pkwy.
200,000-796,663
Ben Logue
6
1001 Cherry Dr.
97,205
Price Weaver / Bill Buist
7
Suwanee Creek
Availabilities
Elizabeth McSweeney
8
3435-3445 Breckinridge Blvd.
6,560-54,200
Chris Irby / 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.
36,000-72,000
Bill Buist / Elizabeth McSweeney
12
Norcross Center
6,000-29,647
Elizabeth McSweeney
13
6191 Atlantic Blvd.
5,300-17,000
Elizabeth McSweeney
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
6438 Warren Drive
3,836
Lee Cardwell
18
Newpoint Commons-200
168,200
Elizabeth McSweeney
SF AVAIL.
BROKER(S)
COLLIERS INTERNATIONAL ATLANTA INDUSTRIAL SPECIALISTS: 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
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
4680 River Green Pkwy.
106,000
Elizabeth McSweeney / Bill Buist
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
www.colliers.com/atlanta
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