Q2 2012 | NORTHEAST ATLANTA
ATLANTA
SUBMARKET REPORT
TRENDS & HIGHLIGHTS
170,658,627
NEW SUPPLY, ABSORPTION AND VACANCY RATES
Total SF
1,800,000 1,600,000 1,400,000 1,200,000 1,000,000 800,000 600,000 400,000 200,000 0 (200,000)
Vacancy Rate
15%
13%
14%
Square Feet
13% 12% 11% 10%
YTD Net Absorption
1,845,715 27,500
YTD Deliveries
935,757
Under Construction
9% 2Q11
3Q11
Absorption
4Q11
1Q12
Deliveries
2Q12
8%
Avg. Warehouse Rate
$3.44 NNN
Source: CoStar Property, Colliers Research
Vacancy
MARKET INDICATORS Q2 2012
Projected
UPDATE Recent Transactions in the Market
Q3 2012
SALES ACTIVITY
VACANCY
PROPERTY ADDRESS
NET ABSORPTION CONSTRUCTION RENTAL RATE
—
SALE PRICE
SIZE SF
PRICE / SF
BUYER
Regency Bus. Park I & II
$11,554,500
285,148
$40.52
Trident Capital
6485 Crescent Dr.
$9,732,500
360,460
$27
Ole Mexican Foods
Oakbrook North & South
$7,720,650
248,741
$31.04
Trident Capital
430 Technology Pky.
$4,500,000
55,000
$81.82
Ed Wideman
Northeast
LEASING ACTIVITY
www.colliers.com/atlanta
TENANT
PROPERTY ADDRESS
SIZE SF
TYPE
International Paper
300 Horizon Dr.
356,000
Warehouse Lease
Amware Logistics
Newpoint Point DC-Bld. 2A
350,350
Warehouse Renewal
UTI Worldwide
1100 Laval Blvd.
346,614
Warehouse Renewal & Exp
US Lumber
Gwinnett Regional DC
215,690
Warehouse Renewal
•
Northeast Atlanta saw the largest occupancy gain in Atlanta in second quarter. The submarket accounted for 61% of total industrial absorption in Atlanta. Bed Bath & Beyond was the largest move-in occupying 810,000 square feet at Walnut Fork Industrial Park in Jackson County.
•
As of mid-year 2012, Northeast Atlanta has the most industrial space under construction. Over 90% of the space is in build-to-suits for Mitsubishi, FedEx and Bitzer US. Even more construction is expected in the near future from Kubota and Toyota.
•
The Northeast Atlanta industrial submarket is Atlanta’s strongest in 2012 and will likely finish the year as such. The submarket is benefitting from both big deal transactions and also from “bread and butter” type leases. For the foreseeable future, both types of leasing activity are expected to continue.
MARKET REPORT | Q2 2012 | ATLANTA INDUSTRIAL | NORTHEAST ATLANTA
COLLIERS INTERNATIONAL NORTHEAST ATLANTA INDUSTRIAL LISTINGS
522 offices in 62 countries on 6 continents
8
United States: 147 Canada: 37 Latin America: 19 Asia Pacific: 201 EMEA: 118
7 16 2 •
21 10
9
18 12
11
$1.8 billion in annual revenue
• Over 2.5 billion square feet under 5
management • Over 12,000 professionals
13 14
3 4 19 20 6 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 / Ryan Sawyer
4
Brook Hollow Distribution Ctr.
27,200-51,800
Darren Ross / Lee Cardwell
5
Corporate Lakes
Availabilities
Darren Ross / Bill Buist
6
Oakbrook Corners-5345
14,672
Lee Cardwell / Price Weaver
7
Suwanee Creek
Availabilities
Darren Ross / Lee Cardwell
8
Broadmoor Bldg. 100
22,618
Doug Tyler / Ryan Sawyer
9
Breckinridge North
Availabilities
Darren Ross / Lee Cardwell
10
4955 Avalon Ridge Pkwy.
28,527
Bill Buist
11
Beaver Ruin Business Center
Availabilities
Doug Tyler / Ryan Sawyer
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
Corners West Business Park
Availabilities
Darren Ross / Jill Bomar
19
5801/5901 Goshen Springs Rd.
7,200-25,843
Darren Ross / Lee Cardwell
20
Oakbrook Place
Availabilities
Scott Plomgren / Scott O’Halloran
COLLIERS INTERNATIONAL ATLANTA INDUSTRIAL SPECIALISTS: Marty Arnold
Darren Ross
Douglas Biggs
Henry Sawyer
Sean Boswell
Ryan Sawyer
Bill Buist
Mike Spears
Lee Cardwell
Doug Tyler
Chris Cummings
Rick Vaughn
Ben Logue
Price Weaver
Scott Plomgren
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
SF AVAIL.
BROKER(S)
2
Northbrook Summit
6,000-40,800
Price Weaver / Mike Spears
6
Oakbrook Corners-5345
14,672
Lee Cardwell / Price Weaver
21
2444 Meadowbrook Pkwy.
222,524
Scott O’Halloran / Dennis Mitchell
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