Q2 2012 | SOUTH ATLANTA
ATLANTA
SUBMARKET REPORT
TRENDS & HIGHLIGHTS
Square Feet
NEW SUPPLY, ABSORPTION AND VACANCY RATES 3,000,000
17%
2,500,000
16%
2,000,000
15%
1,500,000
14%
1,000,000
13%
500,000
12%
0
11%
(500,000)
2Q11
3Q11
Absorption
4Q11
1Q12
Deliveries
2Q12
10%
145,756,204
Total SF Vacancy Rate
13.7%
YTD Net Absorption
36,451 0
YTD Deliveries Under Construction Avg. Warehouse Rate
Vacancy
900,640 $2.89 NNN
Source: CoStar Property, Colliers Research
MARKET INDICATORS Projected
Q2 2012 VACANCY
UPDATE Recent Transactions in the Market
Q3 2012
SALES ACTIVITY
—
PROPERTY ADDRESS
NET ABSORPTION CONSTRUCTION RENTAL RATE
SALE PRICE
SIZE SF
PRICE / SF
BUYER
4712 SouthPark Rd.
$23,600,000
352,064
$67.03
Govt. Properties Inc. Tr.
—
7320 Oakley Industrial
$12,875,000
400,000
$32.19
Exeter Property Group
—
205 Southfield Pky.
$6,440,000
78,000
$82.56
ProLogis
3760 Southside Industrial
$6,000,000
187,134
$32.06
TR Inverness/KBS
South Atlanta
LEASING ACTIVITY
www.colliers.com/atlanta
TENANT
PROPERTY ADDRESS
SIZE SF
TYPE
Home Depot
ProLogis Park I-75
1,118,508
Build-To-Suit
Nestle
5005 Terminus Drive
569,918
Warehouse Lease
FedEx SmartPost
SouthPark 4600
401,600
Warehouse Renewal & Exp
Mobis Parts America
1200 Oakley Industrial Blvd.
301,152
Warehouse Lease
•
South Atlanta’s occupancy gains compared to last year are off as of mid-year 2012. The submarket saw more move-outs than move-ins during the second quarter which brought the overall year-todate absorption to only 36,451 SF. Space consolidations were the biggest factor contributing to the added vacancies.
•
Despite the laggardness in the first half of the year, South Atlanta’s industrial leasing activity remains solid. Over 6 million square feet of industrial leasing has occurred in the submarket year-to-date including Home Depot’s most recent signing for a 1.1 million square foot build-to-suit.
•
South Atlanta benefits from its strategic location in the Atlanta market. As the industrial market recovery moves forward, the submarket will continue seeing positive momentum heading into next year.
MARKET REPORT | Q2 2012 | ATLANTA INDUSTRIAL | SOUTH ATLANTA
COLLIERS INTERNATIONAL SOUTH ATLANTA INDUSTRIAL LISTINGS
522 offices in 62 countries on 6 continents
13 1 2 3
6
7
14 10 9
12 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
12
1812 Joy Lake Rd.
22,689
Chris Cummings
Scott Plomgren
FOR SALE #
PROPERTY
SF AVAIL.
BROKER(S)
12
1812 Joy Lake Rd.
22,689
Chris Cummings
13
2110 Lawrence St.
550,000
Scott Plomgren
14
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.
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www.colliers.com/atlanta