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| Atlanta Office Space Market - Airport / South Atlanta |
(Reported by)
Deming Fish
Sr. Vice President,
Landlord Services Group
Colliers International
deming.fish@colliers.com
404-888-9000
Looking for space? Deming has 23 years of CRE experience. |
Airport / South Atlanta Submarket - 4th Qtr 2011
Effective Rental Rates:
Class A office space: $18.50-$21.50 per SF
Class B office space: $14.00-$18.00 per SF
Class C office space: $8.50-$13.00 per SF
Concessions:
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Free Rent: One (1) month per year of term. |
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Tenant Improvement Allowance: Varies from $10.00 -$22.00/RSF depending on quality of building, term and existing conditions. |
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Moving Allowances: Not a normal component of the deal structures in this sub-market. |
Absorption Rate: -62,577 SF in 3rd Qtr. 2011*
Vacancy Rate: 19.45% 3rd Qtr. 2011*
* Source: CoStar Group, Inc.
New office projects in the area: Gateway Center is the newest development in the market. The Silver LEED certified 405 room Marriott Hotel opened earlier this year, to compliment the Gold LEED certified 128,396 RSF Gateway Center I Class A office building and the 147 room Gold LEED certified Spring Hill Suites.
Major office leases or announcements in the area: Porsche’s announcement to relocate to the sub-market and ASA’s recent expansion are both positive developments announced earlier this year. There seems to be additional activity within the sub-market as companies begin to understand the positive financial impact of connectivity to the airport, which could have a very positive effect on overall occupancy by year-end. 
Other trends in the submarket that should be noted: The sub-market is seeing more activity from users wanting increased connectivity to Hartsfield-Jackson Airport. As in other suburban markets in Atlanta, we have seen movement from older, less well-maintained office product to newer, better-located office space with connectivity to the airport, expressway access and the growing amenity base. |
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Top 10 Largest Contiguous Blocks of Office Space in Airport/South Atlanta
Top 10 Sublease Blocks of Space in Airport/South Atlanta
Scroll to bottom to view |
| Airport Premier Office Property Short-List* |
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Hartsfield Centre
100 Hartsfield Centre Parkway
RATE:
$20.00-21.50 (G)
MAX CONTIG:
20,000 SF |
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| Cassidy Turley |
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| 2,038 RSF |
New |
International Brokerage Services |
Tenant Rep: Richard Bowers |
N/A |
| 1,429 RSF |
Renewal, Relocation & Expansion |
Top Container Lines |
Tenant Rep: Day Lancaster of NAI/BG |
N/A |
| *Short-List represents featured properties inside Dorey’s Atlanta Office Guide. The Done Deals shown in this Short List are reported to us quarterly as a voluntary effort. It does not represent a comprehensive report of done deals for all Short List properties. |
| Top 10 Largest Contiguous Blocks of Office Space in Airport/South Atlanta |
1. 73,708 SF ......... 1950 Sullivan Rd
2. 73,190 SF ......... Gateway Center I
3. 71,179 SF ......... 1075 Inner Loop Rd – Bldgs A,B,C
4. 67,543 SF ......... 1825 Building
5. 43,414 SF ......... 4245 International Pky
6. 33,376 SF ......... Northpark I
7. 31,595 SF ......... Siemens Bldg
8. 31,100 SF ......... Commerce Point
9. 30,062 SF ......... Ashley Park Offices
10. 30,000 SF ......... 303 Corporate Center Dr |
| Top 10 Sublease Blocks of Space in Airport/South Atlanta |
1. 27,350 SF ......... Camp Creek Business Ctr – 1000 – Thru Sep. 2014
2. 19,669 SF ......... 1640 Phoenix Rd - Thru Aug. 2012
3. 15,306 SF ......... 1640 Phoenix Rd – Thru Aug. 2012
4. 11,704 SF ......... Waterstone – Thru Aug. 2012
5. 11,155 SF ......... 403 Corporate Center Dr – Thru Aug. 2015
6. 9,916 SF ......... 1640 Phoenix Rd – Thru Aug. 2012
7. 5,790 SF ......... 821 - 823 Pavilion Court – Term Negotiable
8. 5,000 SF ......... 1700 Pennsylvania Ave – Term Negotiable
9. 3,504 SF ......... 42 Main St - Term Negotiable
10. 3,481 SF ......... 990 Wetpark Dr – 5 - 10 Years
Source: Dorey's Office Guide & CoStar Group, Inc. (December 2011).
Methodology: Only existing available spaces as reported to CoStar researchers are included. Proposed/Planned are excluded. Please send Updates/Corrections to CoStar and Dorey. |
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