Q4 2010 | NORTHEAST ATLANTA
ATLANTA
SUBMARKET REPORT
TRENDS & HIGHLIGHTS NEW SUPPLY, ABSORPTION AND VACANCY RATES 1,000,000
16%
14%
Square Feet
Vacancy Rate
14.5%
15%
500,000 0 (500,000)
169,777,664
Total SF
YTD Net Absorption
(693,467)
13% 4Q09
1Q10
2Q10
3Q10
4Q10
12%
0
YTD Deliveries
11%
(1,000,000)
10% (1,500,000)
Under Construction
482,000
Avg. Warehouse Rate
$3.36 NNN
9%
(2,000,000)
8% Absorption
Deliveries
Source: CoStar Property
Vacancy
MARKET INDICATORS Q4 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
1050 Northbrook Pkwy.
$5,075,000
108,632
$46.72
Block Real Estate Serv.
100 Petty Rd.
$3,945,258
112,860
$34.96
Meritex Atlanta Ind.
Northeast
LEASING ACTIVITY
www.colliers.com/atlanta
TENANT
PROPERTY ADDRESS
SIZE SF
TYPE
Kichler Lighting
Braselton 85 Distr. Ctr.
247,700
Distribution Lease
Bagcraft
6448 Best Friend Rd.
225,984
Warehouse Lease
National Gypsum Co.
Peachtree Corners DC 300
142,800
Warehouse Renewal
Exel
2500 West Park
108,000
Warehouse Renewal
•
Fourth quarter absorption in Northeast Atlanta was second highest for the entire Atlanta industrial market. The occupancy gain was mostly a result of numerous move-ins from companies between 50,000 to 100,000 SF. Also, fourth quarter move-outs were limited in the submarket.
•
Vacant space remains highest in the Northeast Atlanta industrial submarket. Over the past year, the vacancy rate has risen 0.5%, amounting to almost 850,000 SF of vacant space added.
•
After a modest year of activity, leasing in Northeast Atlanta is beginning to show signs of strengthening.
•
Aldi’s build-to-suit facility of 482,000 SF is scheduled to deliver in the first quarter of 2011. Groundbreaking for FedEx Ground’s new distribution center is scheduled to begin soon. This will be the only new construction occurring in the submarket for some time.
MARKET REPORT | Q4 2010 | ATLANTA INDUSTRIAL | NORTHEAST ATLANTA
COLLIERS INTERNATIONAL NORTHEAST ATLANTA INDUSTRIAL LISTINGS
480 offices in 61 countries on 6 continents
6
United States: 135 Canada: 39 Latin America: 17 Asia Pacific: 194 EMEA: 95
7 16 2 13
11 19 20 10 8
15 12
9
18
$2 billion in annual revenue
• Over 2 billion square feet under 5
management • Over 15,000 professionals
14
3 4 17
•
UNITED STATES:
1
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
3435 Breckinridge Blvd.
12,800
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
3,856-20,720
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
Northbrook Summit
46,800
Price Weaver / Mike Spears
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
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