Q3 2010 | SOUTH ATLANTA
ATLANTA
SUBMARKET REPORT
TRENDS & HIGHLIGHTS
Square Feet
NEW SUPPLY, ABSORPTION AND VACANCY RATES 1,500,000
16%
1,000,000
15% 14%
500,000 13%
145,563,664
Total SF Vacancy Rate
15.5%
YTD Net Absorption
(567,177)
YTD Deliveries
1,180,824
Under Construction
1,150,000
Avg. Warehouse Rate
$2.77 NNN
0 3Q09
4Q09
1Q10
2Q10
3Q10
12%
(500,000)
11%
(1,000,000)
10% Absorption
Deliveries
Source: CoStar Property
Vacancy
MARKET INDICATORS Q3 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
665 Highway 74 S.
$5,200,000
117,221
$44.36
HJB Holdings
—
375 Highway 74 S.
$5,075,000
114,800
$44.207
Rosdev Development
—
3640 Royal South Pky.- 1
$4,700,000
116,848
$40.22
EGLO Real Property
2251 Sylvan Rd.
$3,432,322
625,000
$5.49
Boles Parts Supply
South Atlanta
LEASING ACTIVITY
www.colliers.com/atlanta
TENANT
PROPERTY ADDRESS
SIZE SF
TYPE
Phillips Van Heusen
127 Liberty Industrial Pky.
851,349
Distribution Lease
Proctor & Gamble
7320 Oakley Industrial
400,314
Warehouse Renewal
Army Air Force Exchange
7139 Southlake Pkwy.
292,800
Warehouse Lease
HHGregg
3000 SouthPark Blvd.
273,200
Warehouse Renewal
•
South Atlanta experienced the highest amount of space absorbed in the Atlanta industrial market for third quarter. Kraft’s move into 980,000 SF was the largest space occupied. Despite the positive quarter, year-to-date absorption remains negative for the submarket.
•
Kraft’s build-to-suit at Majestic Airport Center III was the largest, and only significant delivery in the Atlanta industrial market this quarter.
•
Leasing activity in South Atlanta has picked up as of late. Along with large renewals, the submarket is winning some of the largest space requirements in the market. Phillips Van Heusen was the largest deal signed in third quarter, and also the largest for the year.
•
The 1,150,000 SF build-to-suit for Clorox is the largest industrial project currently under construction.
MARKET REPORT | Q3 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
19
14
9
United States: 135 Canada: 39 Latin America: 17 Asia Pacific: 194 EMEA: 95
15
18
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
18
140 Amlajack Way
54,212
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
140 Amlajack Way
54,212
Rick Vaughn
19
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.
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