Q3 2010 | NORTHEAST ATLANTA
ATLANTA
SUBMARKET REPORT
TRENDS & HIGHLIGHTS
Square Feet
NEW SUPPLY, ABSORPTION AND VACANCY RATES 1,500,000
15%
1,000,000
14% 13%
500,000
12% 0 (500,000)
3Q09
4Q09
1Q10
2Q10
3Q10
11% 10%
(1,000,000)
9%
(1,500,000)
8% Absorption
Deliveries
169,659,158
Total SF Vacancy Rate
14.5%
YTD Net Absorption
(1,131,624) 0
YTD Deliveries
482,000
Under Construction Avg. Warehouse Rate
$3.34 NNN
Source: CoStar Property
Vacancy
MARKET INDICATORS Q3 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
4103 Tench/300 Brogdon
$14,200,000
231,696
$61.29
Industrial Income Trust
2775 Horizon Ridge Ct.
$10,063,000
223,219
$45.08
Thermo Fisher Scientific
6775 Jimmy Carter Blvd.
$7,525,000
197,558
$38.09
Civic Development LLC
6448 Best Friend Rd.
$7,375,000
225,984
$32.64
Selig Enterprises
Northeast
LEASING ACTIVITY
www.colliers.com/atlanta
TENANT
PROPERTY ADDRESS
SIZE SF
TYPE
Lion Apparel
596 Bonnie Valentine Way
265,000
Distribution Lease
Ta Chen International
Northmont Distr. Ctr.-600
157,280
Warehouse Renewal
King’s Hawaiian
5420 H.F. Reed Ind. Park
111,880
Warehouse Lease
Cadillac Jack
2450 Satellite Blvd.
102,862
Warehouse/Distr. Lease
•
Northeast Atlanta posted its second quarterly loss of occupancy this year in the third quarter. The submarket saw almost 700,000 SF of space given back by tenants. The largest vacancy this quarter was Kraft which relocated from 735,233 SF to its new build-to-suit in South Atlanta.
•
Northeast Atlanta retains the largest amount of vacant available space in the Atlanta industrial market. Over 24.5 million square feet of space is currently vacant in the submarket.
•
Third quarter leasing activity in Northeast Atlanta was modest with only a few transactions completed. Because of this, fourth quarter absorption is likely to be minimally positive.
•
Sale transactions in the submarket, both users and investors, picked up in third quarter. To date, over 3 million square feet in 31 properties have sold in Northeast Atlanta for a total volume of $132 million.
MARKET REPORT | Q3 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 12
13
4 18
9
$2 billion in annual revenue
• Over 2 billion square feet under
management • Over 15,000 professionals
14
3 17
•
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
3445 Breckinridge Blvd.
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
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
6334-6476 Warren Drive
3,836-12,500
Lee Cardwell
18
Newpoint Commons
7,641-168,200
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
Accelerating success.