Page 1

Q1 2012 | NORTHEAST ATLANTA

ATLANTA

SUBMARKET REPORT

TRENDS & HIGHLIGHTS

Square Feet

NEW SUPPLY, ABSORPTION AND VACANCY RATES 800,000

16%

700,000

15%

600,000

14%

500,000

13%

400,000

12%

300,000

11%

200,000

10%

100,000

9% 8%

0 1Q11

2Q11 Absorption

3Q11

4Q11

Deliveries

169,747,243

Total SF Vacancy Rate

14.1%

YTD Net Absorption

291,169

YTD Deliveries

27,500 763,657

Under Construction Avg. Warehouse Rate

1Q12

$3.47 NNN

Source: CoStar Property, Colliers Research

Vacancy

MARKET INDICATORS Projected

Q1 2012

UPDATE Recent Transactions in the Market

Q2 2012

SALES ACTIVITY VACANCY PROPERTY ADDRESS

NET ABSORPTION CONSTRUCTION RENTAL RATE

SALE PRICE

SIZE SF

PRICE / SF

BUYER

Brickton Ind. Park I-IV

$11,500,000

257,376

$44.68

Cobalt Industrial REIT

1680-1700 Executive Dr.

$10,281,396

201,596

$51.00

Cabot Industrial Prop.

Northmont Atlanta - 600

$9,325,000

157,820

$59.29

Dividend Capital

2775 Northwoods Pkwy.

$5,300,000

32,192

$164.64

Carter Validus REIT

Northeast

LEASING ACTIVITY

www.colliers.com/atlanta

TENANT

PROPERTY ADDRESS

SIZE SF

TYPE

Carter’s Inc.

Park 85 at Braselton

1,061,663

Distribution Lease

Toyota Industries

Jackson County Parcel

598,980

New Manufacturing Plant

Echosphere

215 Satellite Blvd.

95,538

Warehouse Renewal

Georgia Expo

3355 Martins Farm Rd.

86,031

Warehouse Lease

Northeast Atlanta began the year with the second highest amount of industrial space absorbed in the Atlanta market. Occupancy increased by almost 300,000 square feet in the first quarter. This was the sixth consecutive quarter of positive absorption for the submarket.

First quarter’s move-in activity came mostly from small industrial users. The largest move-in of the quarter was IMS Gear which occupied 95,318 SF. The increase of small business activity in Northeast Atlanta is a welcomed sign of improving market conditions.

When it comes to buzz in the market, Northeast Atlanta is getting the most. A lot of synergy is taking place in Atlanta’s largest industrial submarket. Recent large-sized transactions by Carter’s, Toyota Industries and Caterpillar are expected to provide new jobs and much needed growth to the area.


MARKET REPORT | Q1 2012 | ATLANTA INDUSTRIAL | NORTHEAST ATLANTA

COLLIERS INTERNATIONAL NORTHEAST ATLANTA INDUSTRIAL LISTINGS

522 offices in 62 countries on 6 continents

6

United States: 147 Canada: 37 Latin America: 19 Asia Pacific: 201 EMEA: 118

7 16 2 •

21 10

12 11 8

9

$1.8 billion in annual revenue

• Over 2.5 billion square feet under 18

5

management • Over 12,000 professionals

13 14

3 4 19 20 1 15 17

UNITED STATES: 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

FOR LEASE #

PROPERTY

SF AVAIL.

BROKER(S)

1

Oakbrook Summit

Availabilities

Scott Plomgren / Scott O’Halloran

2

Northbrook Summit

6,000-40,800

Price Weaver / Mike Spears

3

Northbelt Business Park

Availabilities

Doug Tyler

4

Brook Hollow Distribution Ctr.

27,200-51,800

Darren Ross / Lee Cardwell

5

Corporate Lakes

Availabilities

Darren Ross / Bill Buist

6

1001 Cherry Dr.

97,205

Price Weaver / Bill Buist

7

Suwanee Creek

Availabilities

Darren Ross / Lee Cardwell

8

3289-3293 McCall Drive

18,000-56,228

Ryan Sawyer

9

Breckinridge North

Availabilities

Darren Ross / Lee Cardwell

10

4955 Avalon Ridge Pkwy.

28,527

Bill Buist

11

2650 Button Gwinnett Rd.

70,000

Chris Cummings / Sean Boswell

12

Norcross Center

6,000-29,647

Darren Ross / Lee Cardwell

13

4260 Communications Dr.

43,657

Darren Ross

14

4245 International Blvd.

249,200

Ryan Sawyer / Mike Spears

15

Oakbrook Distribution Ctr.

2,233-24,086

Scott Plomgren / Scott O’Halloran

16

2935 Shawnee Ind. Way

196,215

Darren Ross / Bill Buist

17

6334-6476 Warren Drive

3,472-23,154

Lee Cardwell

18

Newpoint Commons

18,280-168,200

Darren Ross / Lee Cardwell

19

5801/5901 Goshen Springs Rd.

7,200-25,843

Darren Ross / Lee Cardwell

20

Oakbrook Place

Availabilities

Scott Plomgren / Scott O’Halloran

SF AVAIL.

BROKER(S)

COLLIERS INTERNATIONAL ATLANTA INDUSTRIAL SPECIALISTS: Marty Arnold

Scott Plomgren

Douglas Biggs

Darren Ross

Sean Boswell

Henry Sawyer

Bill Buist

Ryan Sawyer

Lee Cardwell

Mike Spears

Chris Cummings

Rick Vaughn

Ben Logue

Price Weaver

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.

FOR SALE #

PROPERTY

2

Northbrook Summit

6,000-40,800

Price Weaver / Mike Spears

6

1001 Cherry Dr.

97,205

Price Weaver / Bill Buist

21

2444 Meadowbrook Pkwy.

222,524

Scott O’Halloran / Dennis Mitchell

www.colliers.com/atlanta

Accelerating success.

1Q 2012 | Northeast Atlanta Industrial | Market Report  

Colliers International | Atlanta 1Q 2012 report for the Northeast industrial market

Read more
Read more
Similar to
Popular now
Just for you