3Q 2011 | Atlanta Northwest Industrial | Market Report

Page 1

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


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