3Q 2011 | Atlanta Northeast Industrial | Market Report

Page 1

Q3 2011 | NORTHEAST ATLANTA

ATLANTA

SUBMARKET REPORT

TRENDS & HIGHLIGHTS

169,711,174

NEW SUPPLY, ABSORPTION AND VACANCY RATES

Total SF Vacancy Rate

16% 15%

800,000

14%

Square Feet

1,200,000 1,000,000 600,000

YTD Net Absorption

1,933,855

13%

400,000

12%

200,000

11%

0

(200,000)

14.2%

3Q10

4Q10

1Q11

2Q11

3Q11

10%

(400,000)

9%

(600,000)

8% Absorption

Deliveries

YTD Deliveries

482,223

Under Construction

204,250

Avg. Warehouse Rate

$3.53 NNN

Vacancy

Source: CoStar Property, Colliers Research

MARKET INDICATORS Projected

Q3 2011

UPDATE Recent Transactions in the Market

Q4 2011

SALES ACTIVITY VACANCY PROPERTY ADDRESS

NET ABSORPTION CONSTRUCTION

RENTAL RATE

SALE PRICE

SIZE SF

PRICE / SF

BUYER

Horizon Creek Distr. Ctr.

$29,000,000

482,896

$60.01

Lincoln Property Co.

1523 Steve Reynolds Ind.

$19,425,000

962,280

$20.19

Hillwood Investment

525 Marathon Pky.

$3,163,680

121,680

$26

525 Associates LLC

3420-3486 Oakwood Rd.

$2,900,000

52,951

$54.77

Performance Food Gr.

Northeast

LEASING ACTIVITY

www.colliers.com/atlanta

TENANT

PROPERTY ADDRESS

SIZE SF

TYPE

Progressive Lighting

3130 N. Berkeley Rd.

240,000

Warehouse Lease

Liberator

2745 Bankers Industrial

140,000

Manufacturing Renewal

American Air Filter

2624 Weaver Way Bldg. 2

126,698

Warehouse Renewal

Atlanta Oriental Foods

3029 Bankers Industrial

73,244

Warehouse Renewal

Industrial absorption in the Northeast Atlanta submarket was positive for the fourth consecutive period. Third quarter’s increase in occupancy was the strongest of the year so far with just over 1 million square feet absorbed in the submarket.

The majority of third quarter move-ins in Northeast Atlanta were from tenants ranging between 20,000 to 70,000 square feet. Whereas South Atlanta has seen the largest transactions this year, Northeast Atlanta has picked up the majority of the smaller transactions.

The submarket should finish 2011 with its first positive year since 2008. The industrial vacancy rate in the submarket will finish around 14% this year; which is 1.7% off Northeast Atlanta’s peak vacancy in First Quarter 2010.


MARKET REPORT | Q3 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

21 10

12 11 17

9

20

$1.5 billion in annual revenue

• Over 2.2 billion square feet under 18

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

2650 Button Gwinnett Rd.

70,000

Chris Cummings / Sean Boswell

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

7,641-168,200

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

www.colliers.com/atlanta

Accelerating success.


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