Q1 2011 | NORTHWEST ATLANTA
ATLANTA
SUBMARKET REPORT
TRENDS & HIGHLIGHTS
Square Feet
NEW SUPPLY, ABSORPTION AND VACANCY RATES 600,000
16%
400,000
14% 12%
200,000
10% 0
(200,000)
1Q10
2Q10
3Q10
4Q10
1Q11
8% 6%
(400,000)
4%
(600,000)
2% Absorption
Deliveries
59,891,343
Total SF Vacancy Rate
13.8%
YTD Net Absorption
228,878
YTD Deliveries
0
Under Construction
0
Avg. Warehouse Rate
$3.64 NNN
Source: CoStar Property, Colliers Research
Vacancy
MARKET INDICATORS Projected
Q1 2011
UPDATE Recent Transactions in the Market
Q2 2011
SALES ACTIVITY
—
VACANCY NET ABSORPTION CONSTRUCTION
—
—
RENTAL RATE
PROPERTY ADDRESS
SALE PRICE
SIZE SF
PRICE / SF
BUYER
Northgate Distr. Center
$9,035,000
209,386
$43.15
Trident Capital
2120,2124 Barrett Park Dr.
$7,786,000
152,500
$51.06
Meritex Enterprises
240 Northpoint Pkwy.
$5,572,500
222,900
$25
MDH Partners
166 Etowah Industrial Ct.
$4,209,000
211,948
$19.86
MDH Partners
Northwest
LEASING ACTIVITY
www.colliers.com/atlanta
TENANT
PROPERTY ADDRESS
SIZE SF
TYPE
Shaw Industries
400 Princeton Blvd.
292,000
Warehouse Renewal
Amendia
1755 W Oak Pkwy.
48,848
Distribution Lease
Casablanca Glass
850 Pickens Industrial Dr.
22,125
Warehouse Renewal
RM Group US
3240 Town Point Dr.
16,000
Distribution Lease
•
Northwest Atlanta absorbed just over 225,000 square feet in the first quarter of 2011. The majority of this activity came from mid-size move-ins ranging between 20,000 to 50,000 square feet.
•
Following a tumultuous year of occupancy losses in 2009, the Northwest Atlanta industrial submarket has since seen a positive turn in activity. Since the end of 2009, the overall vacancy rate has decreased by 0.7%. Over this time, 760,000 square feet of industrial space has been absorbed.
•
The outlook for the Northwest Atlanta industrial submarket remains tied to overall market conditions. Despite the positive activity over the past year, only about 28% of the vacancy added because of the recession has been backfilled. The good news is the submarket appears to be on the road to recovery.
MARKET REPORT | Q1 2011 | ATLANTA INDUSTRIAL | NORTHWEST ATLANTA
COLLIERS INTERNATIONAL NORTHWEST ATLANTA INDUSTRIAL LISTINGS
480 offices in 61 countries on 6 continents United States: 135 Canada: 39 Latin America: 17 Asia Pacific: 194 EMEA: 95 •
$2 billion in annual revenue
• Over 2 billion square feet under
management • Over 15,000 professionals
4
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
1
8 7
2
6 3 5
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
FOR LEASE #
PROPERTY
SF AVAIL.
BROKER(S)
1
1965 Vaughn Rd.
11,212-24,551
Douglas Biggs
2
Northwest Business Center
Availabilities
Lee Evans / Scott O’Halloran
3
Newmarket Business Park
Availabilities
Lee Evans / Scott O’Halloran
4
3675 Kennesaw 75 Pkwy.
42,788
Douglas Biggs / Lee Cardwell
5
1990 Delk Industrial Blvd.
6,100-15,213
Scott Plomgren / Scott O’Halloran
6
Commerce Park
4,767
Scott Plomgren / Scott O’Halloran
7
1666 Roswell Rd.
10,434
Douglas Biggs / Mike Spears
8
850 Pickens Industrial Dr.
11,064-22,128
Scott Plomgren / Scott O’Halloran
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
SF AVAIL.
BROKER(S)
4
3675 Kennesaw 75 Pkwy.
42,788
Douglas Biggs / Lee Cardwell
Accelerating success.
www.colliers.com/atlanta