Q3 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
Vacancy Rate
14.6%
YTD Net Absorption
169,450
10%
0
(200,000)
60,605,295
Total SF
3Q10
4Q10
1Q11
2Q11
3Q11
8%
(400,000)
6%
(600,000)
4% 2%
(800,000) Absorption
Deliveries
YTD Deliveries
0
Under Construction
0
Avg. Warehouse Rate
$3.60 NNN
Vacancy
Source: CoStar Property, Colliers Research
MARKET INDICATORS Projected
Q3 2011
UPDATE Recent Transactions in the Market
Q4 2011
SALES ACTIVITY VACANCY 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
—
100 All Metals Dr.
$6,241,820
131,400
$47.50
CANAM PO LP
—
Vinings Perimeter BP
$5,216,000
75,000
$69.55
Wellstar Health System
1100 Cobb Place Blvd.
$3,800,000
82,800
$45.89
HSI Properties
Northwest
LEASING ACTIVITY
www.colliers.com/atlanta
TENANT
PROPERTY ADDRESS
SIZE SF
TYPE
Aquafil USA
101 Friction Dr.
234,031
Manufacturing Lease
Packard
1925 Shiloh Rd.-Bldg. 2
80,000
Distribution Lease
Tapco
1325 Chastain Rd. Bldg. 200
60,420
Distribution Lease
Smarte Automation
300 Wilbanks Dr.
31,000
Warehouse Lease
•
Northwest Atlanta was one of only two industrial submarkets to have negative absorption in the third quarter. Occupancy dropped by 99,193 SF during this period.
•
Despite the negative quarter, Northwest Atlanta remains positive for the year. In addition, leasing activity from tenants below 100,000 SF remained steady throughout the quarter.
•
The submarket’s industrial vacancy rate has remained relatively unchanged since this time last year. Looking ahead to the near future, this is not expected to change.
•
Although outside of the Atlanta industrial market area, Lowes Companies’ decision to locate a new 1.45 million square foot distribution center in Floyd County should have a positive affect on the northern sections of the Northwest Atlanta submarket.
MARKET REPORT | Q3 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 2
COLLIERS INTERNATIONAL ATLANTA INDUSTRIAL SPECIALISTS:
6
Marty Arnold
3 5
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
7 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
3021 Olympic Industrial Blvd.
13,270
Scott Plomgren
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.
www.colliers.com/atlanta