4Q 2011 | Northwest Atlanta Industrial | Market Report

Page 1

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


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