Q2 2011 | NORTHWEST ATLANTA
ATLANTA
SUBMARKET REPORT
TRENDS & HIGHLIGHTS
Square Feet
NEW SUPPLY, ABSORPTION AND VACANCY RATES 800,000
16%
600,000
14%
400,000
12%
200,000
10%
0
(200,000)
8% 2Q10
3Q10
4Q10
1Q11
2Q11
6%
(400,000)
4%
(600,000)
2% Absorption
Deliveries
59,846,662
Total SF Vacancy Rate
13.8%
YTD Net Absorption
537,341
YTD Deliveries
0
Under Construction
0
Avg. Warehouse Rate
$3.53 NNN
Source: CoStar Property, Colliers Research
Vacancy
MARKET INDICATORS Projected
VACANCY
Q2 2011
Q3 2011
—
—
UPDATE Recent Transactions in the Market SALES ACTIVITY
NET ABSORPTION CONSTRUCTION
—
RENTAL RATE
PROPERTY ADDRESS
SALE PRICE
SIZE SF
PRICE / SF
BUYER
1169 Canton Rd.
$17,000,000
266,250
$63.85
Cabot Properties
—
Northgate Distr. Center
$9,035,000
209,386
$43.15
Trident Capital
—
240 Northpoint Pkwy.
$5,572,500
222,900
$25
MDH Partners
895 Sawyer Rd.
$3,300,000
85,000
$38.82
Osmotica Pharma.
Northwest
LEASING ACTIVITY
www.colliers.com/atlanta
TENANT
PROPERTY ADDRESS
SIZE SF
TYPE
TI Automotive
220 River Drive
85,500
Distribution Lease
Tegrant Diversified
8165 Cobb Center Dr.
82,500
Warehouse Renewal
Bonitz Inc.
1650 Airport Rd.
21,000
Warehouse Renewal
Paramount Pictures
1890 S. Cobb Industrial
18,000
Warehouse Lease
•
As of mid-year 2011, the Northwest Atlanta industrial submarket has the third highest amount of position absorption in Atlanta.
•
Although the submarket’s second quarter absorption activity was mediocre, leasing has since picked up a bit; mostly for deals less than 100,000 SF. Going forward, the status quo is expected to remain. Marketwide demand for space is modest and mostly going towards Atlanta’s larger industrial submarkets.
•
The vacancy rate for Northwest Atlanta remained unchanged between quarters, but is down 1.2% from this time last year.
•
Northwest Atlanta should finish the year in positive territory; however, until market conditions improve, the submarket is likely to see activity fluctuate quarter-to-quarter.
MARKET REPORT | Q2 2011 | ATLANTA INDUSTRIAL | NORTHWEST ATLANTA
COLLIERS INTERNATIONAL NORTHWEST ATLANTA INDUSTRIAL LISTINGS
512 offices in 61 countries on 6 continents United States: 125 Canada: 38 Latin America: 18 Asia Pacific: 214 EMEA: 117 •
$1.5 billion in annual revenue
• Over 2.2 billion square feet under
management • Over 13,000 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 512 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.
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