Q4 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%
145,722,072
Total SF Vacancy Rate
15.4%
YTD Net Absorption
(644,555)
YTD Deliveries
1,180,824
Under Construction
1,150,000
Avg. Warehouse Rate
$2.76 NNN
0 4Q09
1Q10
2Q10
3Q10
4Q10
12%
(500,000)
11%
(1,000,000)
10% Absorption
Deliveries
Source: CoStar Property
Vacancy
MARKET INDICATORS Q4 2010
NEXT QTR
UPDATE Recent Transactions in the Market SALES ACTIVITY
VACANCY NET ABSORPTION CONSTRUCTION RENTAL RATE
PROPERTY ADDRESS
SALE PRICE
SIZE SF
PRICE / SF
BUYER
150 Greenwood Ind. Pky.
$24,416,500
879,850
$27.75
Blackstone Real Estate
—
Atlanta Tradeport 200-1000
$21,550,000
301,709
$71.43
TA Realty Associates
—
Air Commerce BP 100, 200
$17,000,000
268,400
$63.34
TA Associates
108 Declaration Dr.
$4,000,000
92,000
$43.48
Henry County Dev. Auth.
—
South Atlanta
LEASING ACTIVITY
www.colliers.com/atlanta
TENANT
PROPERTY ADDRESS
SIZE SF
TYPE
Electrolux
7780 Spence Rd.
798,296
Warehouse Lease
OHL
275 Declaration Dr.
302,400
Warehouse Renewal
Exel
4800 Coates Dr.
289,106
Warehouse Lease
Jacobson
3060 SouthPark Blvd.
246,258
Warehouse Lease
•
South Atlanta finished 2010 with almost 650,000 SF given back by tenants. Fourth quarter’s occupancy loss of 624,785 SF became the deciding factor to the submarket’s performance in the year. The submarket was mostly consumed by move-outs in the fourth quarter including Advance Distribution vacating 399,177 SF in Henry Co., Sabre vacating 346,113 SF in South Fulton and National Distribution Centers vacating 292,800 SF just south of the airport.
•
The overall vacancy rate in South Atlanta has increased 1.2% from the end of 2009. This amounts to 1.8 million sq. ft. added in the year; factored from a combination of deliveries and negative absorption.
•
Despite the negative year, leasing activity in South Atlanta came on strong in the second half of 2010. The submarket is expected to be one of the strongest in Atlanta and one of the first to recover in 2011.
MARKET REPORT | Q4 2010 | ATLANTA INDUSTRIAL | SOUTH ATLANTA
COLLIERS INTERNATIONAL SOUTH ATLANTA INDUSTRIAL LISTINGS 4 5
10 1 2 3
12
6 8
19
480 offices in 61 countries on 6 continents
13
14
9
United States: 135 Canada: 39 Latin America: 17 Asia Pacific: 194 EMEA: 95
15
18
7
•
16
$2 billion in annual revenue
• Over 2 billion square feet under
20
management
11
17
• Over 15,000 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
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.
113,460
Chris Cummings / Sean Boswell
Sean Boswell
Henry Sawyer
7
80 Liberty Industrial Pkwy.
123,600
Chris Cummings / 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.
413,356
Sean Boswell / Chris Cummings
13
1100 Commerce Rd.
55,000
Rick Vaughn
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)
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
20
125 Southside Ct.
322,560
Sean Boswell
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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