NEW SUPPLY, ABSORPTION AND VACANCY RATES SUBMARKET REPORT ATLANTA www.colliers.com/atlanta MARKET INDICATORS Q1 2012 | I-20W/FULTON INDUSTRIAL I-20 West/ Fulton Ind TRENDS & HIGHLIGHTS 8% 9% 10% 11% 12% 13% 14% 15% 16% 17% (300,000) (200,000) (100,000) 0 100,000 200,000 300,000 400,000 500,000 600,000 1Q11 2Q11 3Q11 4Q11 1Q12 Absorption Deliveries Vacancy Total SF 90,981,645 Vacancy Rate 14.6% YTD Net Absorption 253,432 YTD Deliveries 0 Under Construction 0 Avg. Warehouse Rate $2.92 NNN UPDATE Recent Transactions in the Market SALES ACTIVITY PROPERTY ADDRESS SALE PRICE SIZE SF PRICE / SF BUYER 747 Douglas Hill Rd. $40,000,000 913,000 $43.81 LaSalle Investment Mgmt 4785 Fulton Industrial Blvd. $5,125,000 342,400 $14.97 Waste Pro USA 800 Wharton Dr. $1,371,316 59,878 $22.90 Duffy Box & Recycling 345 Patton Dr. $1,250,000 69,126 $18.08 M&F Business Corp. LEASING ACTIVITY TENANT PROPERTY ADDRESS SIZE SF TYPE New Breed Logistics 5400 Fulton Industrial Blvd. 448,448 Warehouse Lease Allied Aerofoam 605 Selig Dr. 170,000 Warehouse Lease Victory Packaging 6047 Fulton Industrial Blvd. 128,000 Distribution Lease EXPOPLUS Inc. 1055 Research Ctr. Atl. Dr. 65,280 Distribution Renewal • The I-20 West/Fulton Industrial submarket continues to show improvement in filling vacant space. First quarter absorption totaled just under 250,000 square feet which resulted in the overall vacancy rate for the submarket dropping for the third consecutive quarter. • Despite a plethora of obsolete industrial space, demand in I-20 West/Fulton Industrial is maintaining a steady course; mostly from smaller space users. The submarket’s location is ideal to companies seeking close proximity to rail, interstate and airport access. • Construction should begin on IDI’s 650,000 square foot spec industrial building soon. This will be the largest spec industrial building since 2008. Given the updated features offered by the new building, it will be a matter of time before it is 100% leased. Square Feet Q1 2012 Projected Q2 2012 VACANCY NET ABSORPTION CONSTRUCTION — RENTAL RATE Source: CoStar Property, Colliers Research
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1Q 2012 | I-20 West Fulton Industrial | Market Report
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NEW SUPPLY, ABSORPTION AND VACANCY RATES
SUBMARKET REPORTATLANTA
www.colliers.com/atlanta
MARKET INDICATORS
Q1 2012 | I-20W/FULTON INDUSTRIAL
I-20
West/
Fulton Ind
TRENDS & HIGHLIGHTS
8%9%10%11%12%13%14%15%16%17%
(300,000)(200,000)(100,000)
0100,000200,000300,000400,000500,000600,000
1Q11 2Q11 3Q11 4Q11 1Q12
Absorption Deliveries Vacancy
Total SF 90,981,645
Vacancy Rate 14.6%
YTD Net Absorption 253,432
YTD Deliveries 0
Under Construction 0
Avg. Warehouse Rate $2.92 NNN
UPDATE Recent Transactions in the Market
SALES ACTIVITY
PROPERTY ADDRESS SALE PRICE SIZE SF PRICE / SF BUYER
747 Douglas Hill Rd. $40,000,000 913,000 $43.81 LaSalle Investment Mgmt4785 Fulton Industrial Blvd. $5,125,000 342,400 $14.97 Waste Pro USA800 Wharton Dr. $1,371,316 59,878 $22.90 Duff y Box & Recycling345 Patton Dr. $1,250,000 69,126 $18.08 M&F Business Corp.
LEASING ACTIVITY
TENANT PROPERTY ADDRESS SIZE SF TYPE
New Breed Logistics 5400 Fulton Industrial Blvd. 448,448 Warehouse Lease
Allied Aerofoam 605 Selig Dr. 170,000 Warehouse Lease
Victory Packaging 6047 Fulton Industrial Blvd. 128,000 Distribution Lease
EXPOPLUS Inc. 1055 Research Ctr. Atl. Dr. 65,280 Distribution Renewal
• The I-20 West/Fulton Industrial submarket continues to show improvement in fi lling vacant space. First quarter absorption totaled just under 250,000 square feet which resulted in the overall vacancy rate for the submarket dropping for the third consecutive quarter.
• Despite a plethora of obsolete industrial space, demand in I-20 West/Fulton Industrial is maintaining a steady course; mostly from smaller space users. The submarket’s location is ideal to companies seeking close proximity to rail, interstate and airport access.
• Construction should begin on IDI’s 650,000 square foot spec industrial building soon. This will be the largest spec industrial building since 2008. Given the updated features off ered by the new building, it will be a matter of time before it is 100% leased.
Squa
re F
eet
Q1 2012Projected
Q2 2012
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
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COLLIERS INTERNATIONAL I-20 WEST/FULTON INDUSTRIAL LISTINGS
FOR SALE
# PROPERTY SF AVAIL. BROKER(S)
6 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
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 7705 Staples Dr. 585,000 Sean Boswell / 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. 30,135 Scott Plomgren / Price Weaver / Sean Boswell
14 6150 Lagrange Blvd. 70,501 Scott Plomgren / Price Weaver / Sean Boswell
15 757-767 Douglas Hill Rd. 295,768-342,217 Scott Plomgren / Price Weaver / Sean Boswell
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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 fi rm of Colliers International Property Consultants, an affi liation of independent companies with over 520 offi ces throughout 62 countries worldwide.
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