1Q 2012 | South Atlanta Industrial | Market Report

Page 1

Q1 2012 | SOUTH ATLANTA

ATLANTA

SUBMARKET REPORT

TRENDS & HIGHLIGHTS

144,030,971

Total SF

3,000,000

17%

Vacancy Rate

2,500,000

16%

Square Feet

NEW SUPPLY, ABSORPTION AND VACANCY RATES

15%

2,000,000

14% 1,500,000 13% 1,000,000

12%

500,000

13.8%

YTD Net Absorption

340,416 0

YTD Deliveries

900,640

Under Construction

11%

0

10% 1Q11

2Q11 Absorption

3Q11

4Q11

Deliveries

Avg. Warehouse Rate

$2.89 NNN

1Q12

Source: CoStar Property, Colliers Research

Vacancy

MARKET INDICATORS Projected

Q1 2012

UPDATE Recent Transactions in the Market

Q2 2012

SALES ACTIVITY VACANCY NET ABSORPTION

CONSTRUCTION

— —

RENTAL RATE

PROPERTY ADDRESS

SALE PRICE

SIZE SF

PRICE / SF

BUYER

4868 Highway 85

$6,500,000

102,340

$63.51

Keystone Ind. Fund

111 Liberty Industrial Pky.

$5,500,000

182,448

$30.15

Cabot Properties

126-128 Liberty Ind. Pky.

$4,050,000

157,758

$25.67

Cabot Properties

36 Herring Rd.

$3,000,000

240,000

$12.50

Custom Molded Products

South Atlanta

LEASING ACTIVITY

www.colliers.com/atlanta

TENANT

PROPERTY ADDRESS

SIZE SF

TYPE

Owens Corning

8095 McLarin Rd.

1,044,288

Warehouse Lease

Georgia-Pacific

490 Westridge Pkwy.

900,640

Build-To-Suit

Kuehne & Nagel

4100 North Commerce Dr.

210,000

Build-To-Suit

Yamaha

380 Walt Sanders Memorial

200,000

Warehouse Renewal

South Atlanta once again led the Atlanta industrial market in space absorption in the first quarter. Medium to large-sized move-ins were the largest contributors to the increase in occupied space.

With the absence of new supply and the continued increase in demand, South Atlanta’s vacancy continues to drop. First quarter was the fifth consecutive period with a decrease.

Georgia-Pacific’s 900,640 SF build-to-suit went under construction in Henry County early in the quarter and is expected to be completed by the fall. Home Depot is also close to completing a lease for a new 1-million square foot distribution center in the same area.

Industrial rental rates in the submarket appear to have bottomed; however, an increasing trend might not be prevalent for at least another year.


MARKET REPORT | Q1 2012 | ATLANTA INDUSTRIAL | SOUTH ATLANTA

COLLIERS INTERNATIONAL SOUTH ATLANTA INDUSTRIAL LISTINGS

522 offices in 62 countries on 6 continents

12 1 2 3

6

7

13 10 9

8 5 11

United States: 147 Canada: 37 Latin America: 19 Asia Pacific: 201 EMEA: 118 •

4

$1.8 billion in annual revenue

• Over 2.5 billion square feet under

management • Over 12,000 professionals

UNITED STATES:

FOR LEASE

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

#

PROPERTY

SF AVAIL.

BROKER(S)

1

Airport Distr. Ctr. I

453,587

Darren Ross / Lee Cardwell

2

Tradeport I-4380 Intl. Pkwy.

140,400

Chris Cummings / Sean Boswell

3

Tradeport II-4350 Intl. Pkwy.

26,400

Chris Cummings / Sean Boswell

COLLIERS INTERNATIONAL ATLANTA INDUSTRIAL SPECIALISTS:

4

80 Liberty Industrial Pkwy.

38,493

Chris Cummings / Sean Boswell

Marty Arnold

5

Atlanta Southern Bus. Park I

68,250-273,000

Douglas Biggs

Douglas Biggs

Darren Ross

6

Welcome All Industrial Park

30,000-945,380

Marty Arnold

Sean Boswell

Henry Sawyer

7

3060 South Park Blvd.

411,000

Sean Boswell / Chris Cummings

Bill Buist

Ryan Sawyer

8

1100 Commerce Rd.

55,000

Rick Vaughn

Lee Cardwell

Mike Spears

9

7400 Graham Rd.

10,000

Price Weaver

Chris Cummings

Rick Vaughn

10

6855 Shannon Pkwy.

517,080

Seans Boswell / Scott Plomgren

Ben Logue

Price Weaver

11

1035 Fred Drive

72,268

Scott Plomgren

Scott Plomgren

FOR SALE #

PROPERTY

SF AVAIL.

BROKER(S)

12

2110 Lawrence St.

550,000

Scott Plomgren

13

4280 Stacks Rd.

64,030

Chris Cummings / Sean Boswell 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 520 offices throughout 62 countries worldwide.

Accelerating success.

www.colliers.com/atlanta


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