Q2 2011 | NORTHEAST ATLANTA
ATLANTA
SUBMARKET REPORT
TRENDS & HIGHLIGHTS
169,192,035
Total SF
1,000,000
16%
Vacancy Rate
800,000
15%
Square Feet
NEW SUPPLY, ABSORPTION AND VACANCY RATES
14%
600,000
YTD Net Absorption
809,234
YTD Deliveries
482,223
Under Construction
204,250
Avg. Warehouse Rate
$3.39 NNN
13%
400,000
12% 200,000
11%
0 (200,000)
14.8%
10% 2Q10
3Q10
4Q10
1Q11
2Q11
(400,000)
9% 8%
Absorption
Deliveries
Source: CoStar Property, Colliers Research
Vacancy
MARKET INDICATORS Projected
Q2 2011
UPDATE Recent Transactions in the Market
Q3 2011
SALES ACTIVITY VACANCY PROPERTY ADDRESS
NET ABSORPTION CONSTRUCTION RENTAL RATE
— —
SALE PRICE
SIZE SF
PRICE / SF
BUYER
8 Mount Moriah Rd.
$11,975,000
155,000
$77.26
Welsh Property Trust
—
1685 Boggs Rd.
$7,975,000
164,008
$48.63
Welsh Property Trust
—
6100 Atlantic Blvd.
$7,000,000
217,497
$32.18
Hyundai Motor America
2940 Old Norcross Rd.
$6,175,000
132,394
$46.64
Welsh Property Trust
Northeast
LEASING ACTIVITY
www.colliers.com/atlanta
TENANT
PROPERTY ADDRESS
SIZE SF
TYPE
Bagcraft
6448 Best Friend Rd.
225,984
Warehouse Lease
KPG Telecommunications
Shawnee Ridge - E1
140,000
Warehouse Lease
HD Supply
1950 N Norcross Tucker Rd.
120,000
Warehouse Expansion
CMD
Shawnee Ridge - C1
67,200
Warehouse Lease
•
For the third consecutive quarter, industrial occupancy in the Northeast Atlanta market increased. Second quarter absorption totaled 128,024 SF in Atlanta’s largest industrial submarket. Since this time last year, Northeast Atlanta has seen over 1.3 million square feet of space absorbed.
•
Second quarter’s occupancy gain in Northeast Atlanta can be attributed to the increased demand from smaller industrial tenants. The largest move-in over the past three months was TYCO Fire which moved into 96,840 SF. Tenants ranging between 20,000 to 60,000 SF were the most active.
•
Although the vacancy rate decreased only slightly from the previous quarter, industrial vacancy in Northeast Atlanta has dropped by 0.5% since the middle of last year; amounting to 703,692 SF filled.
•
The average industrial rental rate for the submarket remained level yet again, suggesting stabilization.
MARKET REPORT | Q2 2011 | ATLANTA INDUSTRIAL | NORTHEAST ATLANTA
COLLIERS INTERNATIONAL NORTHEAST ATLANTA INDUSTRIAL LISTINGS
512 offices in 61 countries on 6 continents
6
United States: 125 Canada: 38 Latin America: 18 Asia Pacific: 214 EMEA: 117
7 16 2 13
11
21 10
12
17
9
18
20
•
$1.5 billion in annual revenue
• Over 2.2 billion square feet under 5 8 15
management • Over 13,000 professionals
14
3 4 19 1
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
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
1100 Laval Blvd.
90,442
Elizabeth McSweeney / Bill Buist
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
19
5801/5901 Goshen Springs Rd.
6,029-25,843
Elizabeth McSweeney
20
1100 Progress Circle
30,000
Ryan Sawyer
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 512 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
21
2444 Meadowbrook Pkwy.
222,524
Scott O’Halloran / Dennis Mitchell
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