Q1 2012 | NORTHWEST ATLANTA
ATLANTA
SUBMARKET REPORT
TRENDS & HIGHLIGHTS
60,957,142
Total SF
800,000 700,000 600,000 500,000 400,000 300,000 200,000 100,000 0 (100,000) (200,000)
Vacancy Rate
Square Feet
NEW SUPPLY, ABSORPTION AND VACANCY RATES 16%
13.1%
14% 12% 10% 8% 6% 1Q11
2Q11
3Q11
4Q11
1Q12
Deliveries
258,361
YTD Deliveries
0
Under Construction
0
4% 2%
Absorption
YTD Net Absorption
Avg. Warehouse Rate
Vacancy
$3.75 NNN
Source: CoStar Property, Colliers Research
MARKET INDICATORS Projected
Q1 2012
UPDATE Recent Transactions in the Market
Q2 2012
SALES ACTIVITY VACANCY PROPERTY ADDRESS
NET ABSORPTION CONSTRUCTION
—
—
RENTAL RATE
SALE PRICE
SIZE SF
PRICE / SF
BUYER
Chastain Distr. Ctr.
$18,125,000
357,600
$50.69
Cabot Properties
1950 Vaughn Rd.
$12,800,000
162,451
$78.79
Clarion Partners
3600 Cobb International Blv.
$7,700,000
145,156
$53.05
Cabot Properties
1851 West Oak Pkwy.
$4,700,000
102,297
$45.94
KTR Capital Partners
Northwest
LEASING ACTIVITY
www.colliers.com/atlanta
TENANT
PROPERTY ADDRESS
SIZE SF
TYPE
Brothers Global
1039 Northpoint Pky.
83,000
Warehouse Lease
CSM Fitness
Kennesaw Bus. Ctr.-100
51,168
Distribution Lease
Crystal Quest
Chastain Place I - 100
36,000
Distribution Lease
Bristol Fiberlite Industries
1180 Hayes Industrial Dr.
25,000
Distribution Lease
•
Northwest Atlanta posted a solid gain in occupied space in the first quarter. Industrial absorption topped 258,000 square feet and was the third highest amount of all Atlanta industrial submarkets.
•
The submarket has benefited most by the increase in small business activity. Almost all of the absorption taking place in Northwest Atlanta over the past six months has been from tenants ranging between 20,000 to 60,000 square feet. More of these tenants moving into rather than moving out of space is a sure sign of improving market conditions.
•
The average rental rate for industrial space in Northwest Atlanta increased over the last quarter. Though too soon to note any lasting trend, this is the only Atlanta industrial submarket to possibly see rental rate growth over the next six months.
MARKET REPORT | Q1 2012 | ATLANTA INDUSTRIAL | NORTHWEST ATLANTA
COLLIERS INTERNATIONAL NORTHWEST ATLANTA INDUSTRIAL LISTINGS
522 offices in 62 countries on 6 continents United States: 147 Canada: 37 Latin America: 19 Asia Pacific: 201 EMEA: 118 •
$1.8 billion in annual revenue
• Over 2.5 billion square feet under
management • Over 12,000 professionals
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
4 7
2 COLLIERS INTERNATIONAL ATLANTA INDUSTRIAL SPECIALISTS:
8
Marty Arnold
3 5
Scott Plomgren
Douglas Biggs
Darren Ross
Sean Boswell
Henry Sawyer
Bill Buist
Ryan Sawyer
Lee Cardwell
Mike Spears
Chris Cummings
Rick Vaughn
Ben Logue
Price Weaver
6 FOR LEASE #
PROPERTY
SF AVAIL.
BROKER(S)
1
1965 Vaughn Rd.
11,212-22,257
Bill Buist
2
Northwest Business Center
Availabilities
Lee Evans / Scott O’Halloran
3
Newmarket Business Park
Availabilities
Lee Evans / Scott O’Halloran
4
1285 Field Parkway
9,000-18,000
Lee Cardwell / Ryan Sawyer
5
1990 Delk Industrial Blvd.
6,100
Scott Plomgren / Scott O’Halloran
6
3021 Olympic Industrial Blvd.
13,270
Scott Plomgren
7
850 Pickens Industrial Dr.
11,063-22,128
Scott Plomgren / Scott O’Halloran
8
Commerce Park
5,767-12,533
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 520 offices throughout 62 countries worldwide.
FOR SALE #
PROPERTY
SF AVAIL.
BROKER(S)
4
1285 Field Parkway
18,000
Lee Cardwell / Ryan Sawyer
Accelerating success.
www.colliers.com/atlanta