3q 2011 | atlanta i-20 w fulton industrial | market report
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NEW SUPPLY, ABSORPTION AND VACANCY RATES
SUBMARKET REPORTATLANTA
www.colliers.com/atlanta
MARKET INDICATORS
Q3 2011 | I-20W/FULTON INDUSTRIAL
I-20
West/
Fulton Ind
TRENDS & HIGHLIGHTS
8%9%10%11%12%13%14%15%16%17%
(600,000)
(400,000)
(200,000)
0
200,000
400,000
600,000
800,000
1,000,000
3Q10 4Q10 1Q11 2Q11 3Q11
Absorption Deliveries Vacancy
Total SF 92,043,478
Vacancy Rate 15.4%
YTD Net Absorption (524,945)
YTD Deliveries 0
Under Construction 0
Avg. Warehouse Rate $3.01 NNN
UPDATE Recent Transactions in the Market
SALES ACTIVITY
PROPERTY ADDRESS SALE PRICE SIZE SF PRICE / SF BUYER
Hartman III $22,000,000 525,627 $41.85 Welsh Property Trust8096 E. Highway 78 $9,221,727 214,320 $43.03 Angelo, Gordon & Co.1370 Discovery Industrial Ct $6,000,000 151,800 $39.53 Welsh Property TrustHartman IV $5,400,000 113,748 $47.47 Welsh Property Trust
LEASING ACTIVITY
TENANT PROPERTY ADDRESS SIZE SF TYPE
Boxercraft 7131 Discovery Blvd. 148,300 Warehouse Lease
Best Warehouse & Trans. 6255 Fulton Industrial Blvd. 120,960 Warehouse Lease
Guest Supply 780 Douglas Hill Rd.-Bldg. 5 107,445 Warehouse Lease
TGI Tuff Glass 5550 Westpark Dr. 96,274 Warehouse Lease
• For the third consecutive quarter, the I-20 West/Fulton Industrial submarket saw its overall vacancy increase. Another 125,000 square feet of vacant industrial space hit the submarket in third quarter.
• I-20 West/Fulton Industrial’s year-to-date absorption is the worst in Atlanta’s industrial market. Much of the larger leasing activity is taking place in the South Atlanta submarket. In addition, leasing activity from smaller tenants is absent here as well.
• Going forward, the submarket should see a slight drop in its vacancy in the fourth quarter. Czarnowski will move into 569,673 SF of warehouse/distribution space at Hartman V which will be the largest move-in for fourth quarter. Beyond 2011, the submarket should begin to see some pickup in activity.
Squa
re F
eet
Q3 2011Projected
Q4 2011
VACANCY
NET ABSORPTION
CONSTRUCTION — —
RENTAL RATE — —
Source: CoStar Property, Colliers Research
UNITED STATES:
Colliers InternationalTwo Midtown Plaza | Suite 11001349 West Peachtree Street, NEAtlanta, Georgia, 30309TEL +1 404 888 9000FAX +1 404 870 2845
COLLIERS INTERNATIONAL
ATLANTA INDUSTRIAL SPECIALISTS:
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 fi rm of Colliers International Property Consultants, an affi liation of independent companies with over 512 offi ces throughout more than 61 countries worldwide.
www.colliers.com/atlanta
Accelerating success.Accelerating success.
COLLIERS INTERNATIONAL I-20 WEST/FULTON INDUSTRIAL LISTINGS
FOR SALE
# PROPERTY SF AVAIL. BROKER(S)
7 6355 Boat Roack Blvd. 296,290 Scott Plomgren
9 100 Doris Williams Industrial 90,000 Chris Cummings / Sean Boswell
10 5125 Fulton Industrial Blvd. 149,386 Chris Cummings / Sean Boswell
15 5020 Bakers Ferry Rd. 45,089 Scott Plomgren
HamiltonE. Holmes
strial B
lvd
Cascade Rd
Frwy
CampbelltonRd
Cam
p C
reek
Pkw
y
New Hope Rd
Melvin Dr
Chi
ldre
ss D
r
Panther Trail
Kim
berly
Rd
Danforth Rd
Riverside
Dr
Fulton In
dustrial B
lvd
Boulder Park Dr
Benjamin E Mays Dr
S Gordon Rd
Old Alabama Rd
Mableton Pkwy
Pisgah RdOld Alabama Rd
Fontaine RdClay Rd
Jam
es R
d
Bankhead Hwy
Queen
s Mill
Rd
Bankhead
Oakdale Rd
Summerfield DrJam
es JacksonPkw
y
Hillcrest Dr
Bolto
n Rd
B
Hollyw
ood Rd
Cascade Rd
RiversidePkwy
Boat Rock Blvd
La G
rang
e B
lvd
Andrews Dr
MLK
Jr D
Rivers
ide
PkwyFac
toryShoals Rd
Douglas Hill Rd
White Rd
Six Flags Rd
Six Flags DriveBlair Bridge
Rd
S Gordon Rd
Six FlagsRd
Fairb
urn
Rd
Collier Dr
Bakers FerryRd
JohnsonFerry Rd
Peyt
on Rd
Northwest
Dr
Cooper L
ake
Rd
Rock House Rd
Cam
p Creek
Fai rb
urn
Rd
Pkwy
Hwy
SouthwestHospital
Six FlagsOver Georgia
Fulton CountyAirport -Brown Field
CascadedecccadCaCa deaHeightsHe ghtstsHHeeHeHeH tsHee
Chattah
oochee
River
CascadeSprgs NaturePreserve
SandtownPark
MelvinDrivePark
TrammellCrow Park
NickajackPark
WilsonMill Park
Alfred TopHolmes Golf
Course
WallacePark
Park
WhittierMill Park
FULTONCOUNTY
DOUGLASCOUNTY
1
2
3
4
5
6
Marty Arnold Elizabeth McSweeney
Douglas Biggs Scott Plomgren
Sean Boswell Henry Sawyer
Bill Buist Ryan Sawyer
Lee Cardwell Mike Spears
Chris Cummings Rick Vaughn
Ben Logue Price Weaver
7
8
9
10
11
12
13
512 offi ces in 61 countries on 6 continentsUnited States: 125Canada: 38Latin America: 18Asia Pacifi c: 214EMEA: 117
• $1.5 billion in annual revenue
• Over 2.2 billion square feet under management
• Over 13,000 professionals
FOR LEASE
# PROPERTY SF AVAIL. BROKER(S)
1 120 Interstate West Pkwy. 14,400 Sean Boswell / Chris Cummings
2 780 Douglas Hill Rd. 107,000-215,025 Sean Boswell / Lee Cardwell
3 9000 Riverside Pkwy. 259,954-542,491 Scott Plomgren / Price Weaver / Sean Boswell
4 6215 Fulton Industrial Blvd. 15,824 Scott Plomgren
5 5400 Fulton Industrial Blvd. 448,448 Scott Plomgren
6 6355 Boat Rock Blvd. 296,260 Scott Plomgren
7 5000 Westpark Dr. 32,784 Scott Plomgren
8 4530 Patton Dr. 16,000-26,000 Scott Plomgren
9 100 Doris Williams Industrial 90,000 Chris Cummings / Sean Boswell
10 5125 Fulton Industrial Blvd. 149,386 Chris Cummings / Sean Boswell
11 6070 Fulton Industrial Blvd. 227,600 Scott Plomgren / Price Weaver / Sean Boswell
12 777 Douglas Hill Rd. 217,603 Scott Plomgren / Price Weaver / Sean Boswell
13 5320 Fulton Industrial Blvd. 29,917-60,502 Scott Plomgren / Price Weaver / Sean Boswell
14 6150 Lagrange Blvd. 70,501 Scott Plomgren / Price Weaver / Sean Boswell
14
15
MARKET REPORT | Q3 2011 | ATLANTA INDUSTRIAL | I-20W/FULTON INDUSTRIAL
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