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
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