Q4 2011 | SOUTH ATLANTA
ATLANTA
SUBMARKET REPORT
TRENDS & HIGHLIGHTS
144,574,375
NEW SUPPLY, ABSORPTION AND VACANCY RATES
Total SF
2,500,000
Vacancy Rate
18%
16%
Square Feet
14.6%
17%
2,000,000 1,500,000
YTD Net Absorption
5,142,105
YTD Deliveries
1,620,006
15%
1,000,000
14% 13%
500,000
12% 0 4Q10
1Q11
2Q11
3Q11
4Q11
10%
(500,000) Absorption
Deliveries
0
Under Construction
11%
Avg. Warehouse Rate
$2.95 NNN
Source: CoStar Property, Colliers Research
Vacancy
MARKET INDICATORS Projected
Q4 2011
UPDATE Recent Transactions in the Market
Q1 2012
SALES ACTIVITY VACANCY
—
NET ABSORPTION CONSTRUCTION
—
RENTAL RATE
—
PROPERTY ADDRESS
SALE PRICE
SIZE SF
PRICE / SF
BUYER
1793 Highway 42
$28,270,000
796,450
$35.50
IDI
2500 Southpoint Dr.
$13,625,000
297,720
$45.76
Industrial Income Trust
1500 Southpoint Dr.
$12,500,000
218,875
$57.11
Industrial Income Trust
5290 Old Dixie Hwy.
$9,275,000
226,239
$41.00
High Street Equity Adv.
South Atlanta
LEASING ACTIVITY
www.colliers.com/atlanta
TENANT
PROPERTY ADDRESS
SIZE SF
TYPE
Owens Corning
8095 McLarin Rd.
1,044,288
Warehouse Lease
Georgia-Pacific
490 Westridge Pkwy.
900,640
Build-To-Suit
Pratt Industries
3760 Southside Ind. Pkwy.
187,134
Warehouse Lease
Jacobson Warehouse
3060 South Park Blvd.
168,000
Warehouse Expansion
•
South Atlanta led all Atlanta industrial submarkets in both absorption and leasing activity for 2011. Industrial absorption topped 5.1 million square feet for the year, while leasing activity reached almost 10 million square feet.
•
The submarket’s industrial vacancy rate has dropped significantly over the past twelve months. Since its peak high at 17.2%, overall vacancy in South Atlanta has dropped 2.6%.
•
One of the factors helping South Atlanta see positive results is the amount of consistent demand in the submarket, all while new supply remains on hold. This is about to change, however, heading into 2012. Some developers are beginning to market spec construction projects in the area.
•
Though not yet a trend, South Atlanta is beginning to see some industrial rental rate growth.
MARKET REPORT | Q4 2011 | ATLANTA INDUSTRIAL | SOUTH ATLANTA
COLLIERS INTERNATIONAL SOUTH ATLANTA INDUSTRIAL LISTINGS
512 offices in 61 countries on 6 continents
13 2 3
7
8
1 11 10
9 5 6 12
United States: 125 Canada: 38 Latin America: 18 Asia Pacific: 214 EMEA: 117 •
4
$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.
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
7625 Southlake Pkwy.
124,000
Douglas Biggs
Jill Bomar
Henry Sawyer
7
Welcome All Industrial Park
30,000-945,380
Marty Arnold
Sean Boswell
Ryan Sawyer
8
3060 South Park Blvd.
243,000
Sean Boswell / Chris Cummings
Bill Buist
Mike Spears
9
1100 Commerce Rd.
55,000
Rick Vaughn
Lee Cardwell
Rick Vaughn
10
7400 Graham Rd.
10,000
Price Weaver
Chris Cummings
Price Weaver
11
6855 Shannon Pkwy.
517,080
Sean Boswell / Scott Plomgren
Ben Logue
12
1035 Fred Drive
72,268
Scott Plomgren
Scott Plomgren
FOR SALE #
PROPERTY
SF AVAIL.
BROKER(S)
4
80 Liberty Industrial Pkwy.
123,600
Chris Cummings / Sean Boswell
13
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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