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