Q4 2011 | NORTHEAST ATLANTA
ATLANTA
SUBMARKET REPORT
TRENDS & HIGHLIGHTS
Square Feet
NEW SUPPLY, ABSORPTION AND VACANCY RATES 900,000
16%
800,000
15%
700,000
14%
600,000
169,219,678
Total SF Vacancy Rate
14.3%
YTD Net Absorption
2,000,615
13%
500,000
12%
400,000
YTD Deliveries
482,223
Under Construction
215,000
11%
300,000 200,000
10%
100,000
9% 8%
0 4Q10
1Q11 Absorption
2Q11
3Q11
Deliveries
Avg. Warehouse Rate
4Q11
$3.50 NNN
Source: CoStar Property, Colliers Research
Vacancy
MARKET INDICATORS Projected
Q4 2011
UPDATE Recent Transactions in the Market
Q1 2012
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.
—
860 John B. Brooks Rd.
$20,850,000
810,000
$25.74
Bed Bath & Beyond
—
125 Horizon Dr.
$19,822,244
600,674
$33
KTR Capital Partners
2670 Breckinridge Blvd.
$6,327,060
124,060
$51
Cabot Industrial Prop.
Northeast
LEASING ACTIVITY
www.colliers.com/atlanta
TENANT
PROPERTY ADDRESS
SIZE SF
TYPE
Mitsubishi Electric
1340 Satellite Blvd.
559,407
Build-To-Suit
RNC Industries
Hamilton Mill Bus. Ctr. I
192,780
Distribution Lease
Varec Inc.
5834 Peactree Corners E
78,930
Flex Renewal
PartnerTech
2420 Tech Center Pkwy. E
57,621
Warehouse/Distribution Lease
•
Northeast Atlanta finished the year with its fifth consecutive quarter of positive absorption. For the year as a whole, the submarket saw its total occupancy increase by 2 million square feet. This was second highest in the Atlanta industrial market.
•
The overall vacancy rate for Northeast Atlanta has dropped 0.8% over the course of a year. Industrial activity has most definitely returned to the submarket. A consistent downward vacancy trend is proof of this.
•
Construction activity in the submarket is currently limited to FedEx’s build-to-suit; however, this will change in the upcoming quarter as Mitsubishi’s 559,000 SF build-to-suit begins and Pattillo Construction starts construction of a 77,000 SF spec industrial building in Gainesville.
MARKET REPORT | Q4 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 •
21 10
12 11 17
9
$1.5 billion in annual revenue
• Over 2.2 billion square feet under 18
5 8 15
management • Over 13,000 professionals
13 14
3 4 19 20 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
Jill Bomar
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
Jill Bomar
5
1280 Lakes Pkwy.
82,076
Darren Ross / Bill Buist
6
1001 Cherry Dr.
97,205
Price Weaver / Bill Buist
7
Suwanee Creek
Availabilities
Jill Bomar
8
1300 Lakes Pkwy.
93,746
Darren Ross / Bill Buist
9
Breckinridge North
Availabilities
Jill Bomar
10
4955 Avalon Ridge Pkwy.
28,527
Bill Buist
11
2650 Button Gwinnett Rd.
70,000
Chris Cummings / Sean Boswell
12
Norcross Center
6,000-29,647
Jill Bomar
13
4260 Communications Dr.
43,657
Darren Ross
14
4245 International Blvd.
249,200
Ryan Sawyer / Mike Spears
15
1100 Laval Blvd.
90,442
Darren Ross / Bill Buist
16
2935 Shawnee Ind. Way
196,215
Jill Bomar / Bill Buist
17
6334-6452 Warren Drive
3,840-10,292
Lee Cardwell
18
Newpoint Commons
7,641-168,200
Jill Bomar
19
5801/5901 Goshen Springs Rd.
6,029-25,843
Jill Bomar
20
Oakbrook Place
Availabilities
Jill Bomar / Scott O’Halloran
SF AVAIL.
BROKER(S)
COLLIERS INTERNATIONAL ATLANTA INDUSTRIAL SPECIALISTS: Marty Arnold
Scott Plomgren
Douglas Biggs
Darren Ross
Jill Bomar
Henry Sawyer
Sean Boswell
Ryan Sawyer
Bill Buist
Mike Spears
Lee Cardwell
Rick Vaughn
Chris Cummings
Price Weaver
Ben Logue
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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