Q2 2011 | SOUTH ATLANTA
ATLANTA
SUBMARKET REPORT
TRENDS & HIGHLIGHTS
143,455,277
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)
2Q10
3Q10
4Q10
1Q11
2Q11
(1,000,000) Deliveries
YTD Net Absorption
1,713,227
YTD Deliveries
1,150,000 409,006
Under Construction
11% 10%
Absorption
15.2%
Avg. Warehouse Rate
$2.82 NNN
Source: CoStar Property, Colliers Research
Vacancy
MARKET INDICATORS Projected
Q2 2011
UPDATE Recent Transactions in the Market
Q3 2011
SALES ACTIVITY VACANCY NET ABSORPTION CONSTRUCTION
—
RENTAL RATE
—
PROPERTY ADDRESS
SALE PRICE
SIZE SF
PRICE / SF
BUYER
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
3430 Empire Blvd.
$2,695,000
38,833
$69.40
ARKA Properties Group
4849 Massachusetts Blvd.
$2,689,000
148,850
$18.07
Telecycle
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
Ceva Logistics
3201 Center Pkwy.
404,700
Warehouse Lease
Home Depot
180 Westridge Pkwy.
363,286
Warehouse Lease
LifeScience Logistics
Majestic Airport Ctr. II
255,000
Warehouse Lease
•
Despite the negative second quarter, South Atlanta still leads the entire Atlanta industrial market with space absorption for the year. Second quarter’s negative activity was expected due to Clorox moving out of 3201 Center Pkwy. The good news is Ceva Logistics signed a lease to backfill the majority of this space by the end of the year.
•
South Atlanta’s average rental rate is holding steady. Still, the amount is the lowest it has been in six years. Rents will continue to stabilize and even possibly go up by year’s end due to the increased demand for space in the submarket.
•
The South Atlanta market will finish 2011 with its highest occupancy gain in four years. Lowe’s Home Stores, SANY America and Home Depot are expected to move into large spaces in the second half.
MARKET REPORT | Q2 2011 | ATLANTA INDUSTRIAL | SOUTH ATLANTA
COLLIERS INTERNATIONAL SOUTH ATLANTA INDUSTRIAL LISTINGS
512 offices in 61 countries on 6 continents
14 2 3
7
8
1
12
9 5 6 13
11
United States: 125 Canada: 38 Latin America: 18 Asia Pacific: 214 EMEA: 117 4
10
•
$1.5 billion in annual revenue
• Over 2.2 billion square feet under
management • Over 13,000 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
4280 Stacks Rd.
64,030
Chris Cummings / Sean Boswell
2
Tradeport I-4380 Intl. Pkwy.
242,000
Chris Cummings / Sean Boswell
3
Tradeport II-4350 Intl. Pkwy.
64,000
Chris Cummings / Sean Boswell
COLLIERS INTERNATIONAL ATLANTA INDUSTRIAL SPECIALISTS:
4
80 Liberty Industrial Pkwy.
123,600
Chris Cummings / Sean Boswell
Marty Arnold
5
Atlanta Southern Bus. Park I
68,250-273,000
Douglas Biggs
Douglas Biggs
Scott Plomgren
6
7625 Southlake Pkwy.
124,000
Douglas Biggs
Sean Boswell
Henry Sawyer
7
Welcome All Industrial Park
30,000-945,380
Marty Arnold
Bill Buist
Ryan Sawyer
8
3060 South Park Blvd.
411,000
Sean Boswell / Chris Cummings
Lee Cardwell
Mike Spears
9
1100 Commerce Rd.
55,000
Rick Vaughn
Chris Cummings
Rick Vaughn
10
201 King Mill Ct.
570,586
Ryan Sawyer / Mike Spears
Ben Logue
Price Weaver
11
140 Amlajack Way
54,212
Rick Vaughn
Elizabeth McSweeney
FOR SALE #
PROPERTY
SF AVAIL.
BROKER(S)
4
80 Liberty Industrial Pkwy.
123,600
Chris Cummings / Sean Boswell
11
140 Amlajack Way
54,212
Rick Vaughn
12
640 Highway 138
50,750
Lee Cardwell
13
1157 Battlecreek Rd.
235,104
Chris Cummings / Sean Boswell
14
2110 Lawrence St.
550,000
Scott Plomgren
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.
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