2Q 2012 | Northwest Atlanta Industrial | Market Report

Page 1

Q2 2012 | NORTHWEST ATLANTA

ATLANTA

SUBMARKET REPORT

TRENDS & HIGHLIGHTS

Square Feet

NEW SUPPLY, ABSORPTION AND VACANCY RATES 800,000 700,000 600,000 500,000 400,000 300,000 200,000 100,000 0 (100,000) (200,000)

16%

60,956,312

Total SF Vacancy Rate

13.1%

14% 12% 10% 8% 6% 2Q11

3Q11

4Q11

1Q12

2Q12

Deliveries

409,582

YTD Deliveries

0

Under Construction

0

4% 2%

Absorption

YTD Net Absorption

Avg. Warehouse Rate

Vacancy

$3.79 NNN

Source: CoStar Property, Colliers Research

MARKET INDICATORS Projected

Q2 2012

UPDATE Recent Transactions in the Market

Q3 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

3755 Atlanta Industrial Pky.

$11,300,000

407,981

$27.70

STAG Capital Partners

399 Northpoint Pky.

$5,400,000

87,500

$61.71

William Lyons

3675 Kennesaw 75 Pky.

$2,400,000

42,788

$56.09

Parallax Digital Studios

Northwest

LEASING ACTIVITY

www.colliers.com/atlanta

TENANT

PROPERTY ADDRESS

SIZE SF

TYPE

Anderson Inv. Mgmt.

189 Etowah Ind. Ct.

98,000

Warehouse Lease

Brothers Global

1039 Northpoint Pky.

83,000

Warehouse Lease

CSM Fitness

Kennesaw Bus. Ctr.-100

51,168

Distribution Lease

McNICHOLS Co.

Walton Green Comm. Ctr. 6

37,500

Distribution Lease

Though weaker than previous quarters, Northwest Atlanta posted its third consecutive industrial occupancy gain in the second quarter. Absorption totaled almost 114,000 SF for the three month period.

The submarket’s industrial vacancy rate showed no significant movement between quarters due to the modest amount of space absorbed. Since this time last year, however, the rate is down 1.6%. This amounts to over 1 million square feet of vacant space filled here in the past 12 months.

Most of Northwest Atlanta’s activity this year has come from small business growth. This type of growth has dropped off from 2011 levels and will eventually affect future absorption in the submarket.

For the remainder of the year, Northwest Atlanta should continue to see positive activity; beyond that remains a question.


MARKET REPORT | Q2 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.

11,064-22,128

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


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