Q4 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)
4Q10
1Q11
2Q11
3Q11
4Q11
8%
(400,000)
6%
(600,000)
4%
(800,000)
2% Absorption
Deliveries
60,995,860
Total SF Vacancy Rate
13.5%
YTD Net Absorption
938,994
YTD Deliveries
0
Under Construction
0
Avg. Warehouse Rate
Vacancy
$3.62 NNN
Source: CoStar Property, Colliers Research
MARKET INDICATORS Projected
Q4 2011
UPDATE Recent Transactions in the Market
Q1 2012
SALES ACTIVITY
—
VACANCY NET ABSORPTION CONSTRUCTION RENTAL RATE
—
—
—
PROPERTY ADDRESS
SALE PRICE
SIZE SF
PRICE / SF
BUYER
1950 Vaughn Rd.
$12,800,000
162,451
$78.79
Clarion Partners
2200 Airport Industrial Dr.
$5,518,000
46,800
$117.92
Blackstone Group
Vinings Perimeter BP
$5,216,000
75,000
$69.55
Wellstar Health System
14938 E Cherokee Dr.
$4,081,000
37,720
$108.19
American Proteins Inc.
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
Metal Conversion Tech.
63 Industrial Dr.
48,160
Manufacturing Lease
Emcore
400 Lake Ridge Dr.
30,000
Warehouse Renewal
•
Northwest Atlanta had the highest amount of positive absorption in the Atlanta industrial market for fourth quarter. Occupancy increased by 642,000 SF which raised the year-to-date total to almost 1 million square feet of space absorbed.
•
There were two large move-ins in the submarket for fourth quarter including Aquafil which occupied 189,700 SF and Novelis which occupied 162,651 SF. The bulk of the positive absorption, however, was in small business growth. Northwest Atlanta has seen a number of smaller sized tenants move into space over the past couple of quarters.
•
Of Atlanta’s major industrial submarkets, Northwest Atlanta boasts one of the best overall vacancy rates. In addition, the submarket is one of only a few areas where rental rates are trending upwards.
MARKET REPORT | Q4 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
7
2 COLLIERS INTERNATIONAL ATLANTA INDUSTRIAL SPECIALISTS: Marty Arnold
3 5
6
Scott Plomgren
Douglas Biggs
Darren Ross
Jill Bomar
Henry Sawyer
Sean Boswell
Ryan Sawyer
Bill Buist
Mike Spears
Lee Cardwell
Rick Vaughn
Chris Cummings
Price Weaver
Ben Logue
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
3675 Kennesaw 75 Pkwy.
42,788
Douglas Biggs / Lee Cardwell
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
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