Q1 2011 | SOUTH ATLANTA
ATLANTA
SUBMARKET REPORT
TRENDS & HIGHLIGHTS
143,415,310
Total SF
2,500,000
16%
Vacancy Rate
2,000,000
15%
Square Feet
NEW SUPPLY, ABSORPTION AND VACANCY RATES
1,500,000
14%
1,000,000 13% 500,000 12%
0 (500,000)
1Q10
2Q10
3Q10
4Q10
1Q11
(1,000,000) Deliveries
YTD Net Absorption
2,084,211
YTD Deliveries
1,150,000 409,006
Under Construction
11% 10%
Absorption
14.1%
Avg. Warehouse Rate
$2.88 NNN
Source: CoStar Property, Colliers Research
Vacancy
MARKET INDICATORS Projected
Q1 2011 VACANCY
UPDATE Recent Transactions in the Market
Q2 2011
SALES ACTIVITY
—
PROPERTY ADDRESS
NET ABSORPTION CONSTRUCTION RENTAL RATE
—
SALE PRICE
SIZE SF
PRICE / SF
BUYER
Atlanta Tradeport 200-1000
$21,550,000
301,709
$71.43
TA Realty Associates
8400 Tatum Rd.
$12,750,000
1,337,487
$9.53
Lowe’s Home Centers
3025 Sylvan Rd.
$4,052,841
415,676
$9.75
Parking Co. of America
100 Cooper Circle
$3,700,000
37,303
$99.19
Wilson & Nolan
South Atlanta
LEASING ACTIVITY
www.colliers.com/atlanta
TENANT
PROPERTY ADDRESS
SIZE SF
TYPE
Home Depot
335 Greenwood Pl.-100
1,245,868
Warehouse Renewal
Electrolux
7780 Spence Rd.
600,000
Warehouse Lease
FedEx
4400 International Pky.
291,716
Distribution Renewal
Genco ATC
200-210 Interstate South Dr 256,320
Warehouse Renewal
•
South Atlanta led the Atlanta industrial market in absorption in the first quarter with a net total over 2 million square feet filled. The largest move-ins in the market occurred in South Atlanta. They include Clorox moving into its newly delivered 1.2 million sq. ft. distribution facility and Phillips Van Heusen moving into 851,349 sq. ft. at Liberty Industrial Park.
•
Despite the delivery of Clorox’s 1.2 million sq. ft. build-to-suit, the overall vacancy rate in South Atlanta decreased 0.8% from last quarter. This represents 1.1 million square feet of existing vacancy filled during the three month period.
•
The South Atlanta market is the most active industrial market in all of metro Atlanta. The submarket’s location and transportation infrastructure make it superior to other submarkets.