2q 2010 | atlanta i-20 w fulton industrial | market report
DESCRIPTION
Colliers International market report for the I-20 West / Fulton County industrial submarketTRANSCRIPT
NEW SUPPLY, ABSORPTION AND VACANCY RATES
SUBMARKET REPORTATLANTA
www.colliers.com/atlanta
MARKET INDICATORS
Q22010
NEXTQTR
VACANCY
NET ABSORPTION
CONSTRUCTION — —
RENTAL RATE
Q2 2010 | I-20W/FULTON INDUSTRIAL
I-20
West/
Fulton Ind
TRENDS & HIGHLIGHTS
(700,000)(600,000)(500,000)(400,000)(300,000)(200,000)(100,000)
0100,000200,000
2Q09 3Q09 4Q09 1Q10 2Q10
8%
10%
12%
14%
16%
18%
Absorption Deliveries Vacancy
Total SF 90,418,950
Vacancy Rate 15.9%
YTD Net Absorption (325,992)
YTD Deliveries 0
Under Construction 0
Avg. Warehouse Rate $2.84Source: CoStar Property
UPDATE Recent Transactions in the Market
SALES ACTIVITY
PROPERTY ADDRESS SALE PRICE SIZE SF PRICE / SF BUYER
555 Hartman Rd. $10,800,000 261,799 $41.25 AEW Capital Mgmt.875 Maxham Rd.-Bldg. B4 $8,750,000 247,000 $35.43 IDI3735 Atlanta Ind. Pky. $2,500,000 92,000 $27.17 Wamar Technologies5850 Tulane Dr. $2,100,000 101,419 $20.71 McCormick & Co.
LEASING ACTIVITY
TENANT PROPERTY ADDRESS SIZE SF TYPE
APL Logistics Douglas Hill Bus. Ctr.-3 295,768 Warehouse Ren. & Contraction
Velocity Express 615 Stonehill Dr. 185,000 Warehouse Renewal
Madras Packaging 6220 Duquesne Dr. 180,000 Warehouse Renewal
Liberty Furniture 6195 Purdue Dr. 152,254 Distribution Renewal
• I-20 West/Fulton Industrial has been hardest hit by the economic slowdown. For the fi fth consecutive quarter, the submarket’s total occupancy decreased. Second quarter absorption was negative (222,199) SF.
• Over the past year and a half, I-20 West/Fulton Industrial’s vacancy rate has risen 1.9%, roughly amounting to 1.7 million square feet of vacant space added during this time.
• The outlook for I-20 West/Fulton Industrial remains bleak. The bulk of the activity occurring is mostly in the form of renewals. New leasing activity in the submarket is lackluster at best.
• The outer reaches of the submarket are likely to recover quicker than the more functionally obsolescent areas closer to the city. Many of the requirements in the market are looking for new and up-to-date industrial space in the form of build-to-suits.
UNITED STATES:
Colliers International1349 West Peachtree StreetSuite 1100Atlanta, Georgia, 30309TEL +1 404 888 9000FAX +1 404 870 2845
COLLIERS INTERNATIONAL
ATLANTA INDUSTRIAL SPECIALISTS:
480 offi ces in 61 countries on 6 continentsUnited States: 135Canada: 39Latin America: 17Asia Pacifi c: 194EMEA: 95
• $2 billion in annual revenue
• Over 2 billion square feet under management
• Over 15,000 professionals
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 480 offi ces throughout more than 61 countries worldwide.
www.colliers.com/atlanta
Accelerating success.Accelerating success.
Marty Arnold Ben Logue
Douglas Biggs Elizabeth McSweeney
Sean Boswell Henry Sawyer
Bill Buist Ryan Sawyer
Lee Cardwell Mike Spears
Chris Cummings Rick Vaughn
Chris Irby Price Weaver
COLLIERS INTERNATIONAL I-20 WEST/FULTON INDUSTRIAL LISTINGS
FOR LEASE
# PROPERTY SF AVAIL. BROKER(S)
1 6355 Boatrock Blvd. 296,260 Sean Boswell
2 120 Interstate West Pkwy. 14,400 Sean Boswell / Chris Cummings
3 4300 Westpark Dr. 216,074 Douglas Biggs / Lee Cardwell
4 4040 Shirley Dr. 10,000 Lee Cardwell / Chris Cummings
5 6255 Fulton Industrial Blvd. 120,960 Lee Cardwell / Douglas Biggs
FOR SALE
# PROPERTY SF AVAIL. BROKER(S)
1 6355 Boatrock Blvd. 296,260 Sean Boswell
4 4040 Shirley Dr. 10,000 Lee Cardwell / Chris Cummings
6 3376 Highway 5 14,725 Douglas Biggs / Price Weaver
HamiltonE. Holmes
Butner Rd
Campbellton Rd
Fulton In
dustrial B
lvd
Cascade Rd
Ben Hill RdFairb
urn
Rd Lakewood
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
Enon Rd
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 Dr
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
Greenbriar Pkwy
Cam
p Creek
Fai rb
urn
Rd
Pkwy
Hwy
GreenbriarMall
SouthwestHospital
Six FlagsOver Georgia
ATLANTACHRISTIANCOLLEGE
Fulton CountyAirport -Brown Field
CascadedecccadCaCa deaHeightsHe ghtstsHHeeHeHeH tsHee
Ben Hill
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
MARKET REPORT | Q2 2010 | ATLANTA INDUSTRIAL | I-20W/FULTON INDUSTRIAL