Q2 2010 | SOUTH ATLANTA
ATLANTA
SUBMARKET REPORT
TRENDS & HIGHLIGHTS NEW SUPPLY, ABSORPTION AND VACANCY RATES 16%
600,000 400,000
15%
200,000 14%
0 (200,000)
2Q09
3Q09
4Q09
1Q10
2Q10
(400,000)
13% 12%
(600,000)
142,308,394
Total SF Vacancy Rate
15%
YTD Net Absorption
(290,749) 200,000
YTD Deliveries Under Construction
2,140,000
11%
(800,000) (1,000,000)
10% Absorption
Deliveries
Avg. Warehouse Rate
$2.81
Source: CoStar Property
Vacancy
MARKET INDICATORS Q2 2010 VACANCY
NEXT QTR
UPDATE Recent Transactions in the Market SALES ACTIVITY
—
NET ABSORPTION CONSTRUCTION RENTAL RATE
—
—
PROPERTY ADDRESS
SALE PRICE
SIZE SF
PRICE / SF
BUYER
500 Business Center Dr.
$24,184,900
710,450
$34.04
Dividend Capital
201 King Mill Rd.
$19,866,100
560,467
$35.45
Dividend Capital
SouthPoint Bldg. B
$9,500,000
297,000
$31.99
Cabot Properties
81 Lees Mill Rd.
$1,200,000
11,400
$105.26
Falken Materials
South Atlanta
LEASING ACTIVITY
www.colliers.com/atlanta
TENANT
PROPERTY ADDRESS
SIZE SF
TYPE
Proctor & Gamble
7320 Oakley Industrial
400,000
Warehouse Renewal
IFCO
100 Constitution Drive
192,000
Distribution Lease
TricorBraun
260 Southfield Pkwy.
125,000
Distribution Renewal
WEL Companies
125 Southside Ct.
122,530
Distribution Lease
•
Second quarter industrial absorption was positive in the South Atlanta submarket, albeit by only a minimal amount. Year-to-date absorption remains in negative territory.
•
Leasing activity was pretty quiet in South Atlanta over the past three months. The I-75 South/Henry County section of the submarket saw the largest deals signed in second quarter with WEL Companies and IFCO leasing 122,530 SF and 192,000 SF respectively.
•
Construction activity remains highest in the submarket with 2.1 million square feet currently being built in three buildings. These are all build-to-suit projects. IDI’s Oakley Industrial building for Clorox is the largest at approximately 1.15 million square feet.
•
Activity is likely to remain stagnant for South Atlanta through the second half of the year.
MARKET REPORT | Q2 2010 | ATLANTA INDUSTRIAL | SOUTH ATLANTA
COLLIERS INTERNATIONAL SOUTH ATLANTA INDUSTRIAL LISTINGS 4 5
10 1 2 3
480 offices in 61 countries on 6 continents
12
6 8
18
14
9
United States: 135 Canada: 39 Latin America: 17 Asia Pacific: 194 EMEA: 95
15
7 13 11
•
16
$2 billion in annual revenue
• Over 2 billion square feet under
management 17
• Over 15,000 professionals
UNITED STATES:
FOR LEASE
Colliers International 1349 West Peachtree Street Suite 1100 Atlanta, Georgia, 30309 TEL +1 404 888 9000 FAX +1 404 870 2845
#
PROPERTY
SF AVAIL.
BROKER(S)
1
Parkway Logistics Ctr.-300
33,644
Sean Boswell / Chris Cummings
2
Parkway Logistics Ctr.-500
37,044-89,080
Sean Boswell / Chris Cummings
3
Parkway Logistics Ctr.-400
62,212
Sean Boswell / Chris Cummings
COLLIERS INTERNATIONAL ATLANTA INDUSTRIAL SPECIALISTS:
4
Tradeport I-4380 Intl. Pkwy.
242,000
Elizabeth McSweeney / Sean Boswell
Marty Arnold
5
Tradeport II-4350 Intl. Pkwy.
64,000
Elizabeth McSweeney / Sean Boswell
Douglas Biggs
Elizabeth McSweeney
6
6855 Shannon Pkwy.
744,000
Chris Cummings / Sean Boswell
Sean Boswell
Henry Sawyer
7
125 Southside Ct.
168,610
Sean Boswell
Bill Buist
Ryan Sawyer
8
Atlanta Southern Bus. Park I
68,250-273,000
Douglas Biggs
Lee Cardwell
Mike Spears
9
7625 Southlake Pkwy.
124,000
Douglas Biggs
Chris Cummings
Rick Vaughn
10
Welcome All Industrial Park
30,000-945,380
Marty Arnold
Chris Irby
Price Weaver
11
103-105 Declaration Dr.
237,650
Ryan Sawyer / Mike Spears
12
3060 South Park Blvd.
659,614
Sean Boswell / Chris Cummings
13
220 Greenwood Ct.
504,000
Elizabeth McSweeney / Chris Cummings
14
7534-7538 Southlake Pkwy.
14,535
Rick Vaughn
15
7544 Southlake Pkwy.
35,584
Rick Vaughn
16
201 King Mill Ct.
570,586
Ryan Sawyer / Mike Spears
17
109 Bunch Rd.
14,535
Rick Vaughn
FOR SALE #
PROPERTY
SF AVAIL.
BROKER(S)
7
125 Southside Ct.
322,560
Sean Boswell
14
7534-7538 Southlake Pkwy.
14,535
Rick Vaughn
15
7544 Southlake Pkwy.
35,584
Rick Vaughn
17
109 Bunch Rd.
209,375
Rick Vaughn
18
640 Highway 138
50,750
Lee Cardwell
Ben Logue
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 480 offices throughout more than 61 countries worldwide.
Accelerating success.
www.colliers.com/atlanta