SUNTRUST PARK
Atlanta Braves
1.2 MSF
Mixed-use
Under Construction
Last updated: June, 2015
MBUSA
MBUSA & Ashton Woods Homes
76-acre total (MBUSA owns 12-acres)
Mixed-use & master planned
Under Construction
Last updated: June, 2015
STATE FARM REGIONAL HQ
State Farm Insurance
2.2 MSF
Mixed-use TOD
Under Construction
Last updated: June, 2015
ABERNATHY 400
Cousins & Ackerman
570,000 SF
Mixed-use
Proposed
Last updated: June, 2015
ABERNATHY 400: SWOT ANALYSIS
STRENGTHS
WEAKNESSES
 Proven HQ location with MBUSA, UPS,
Newell Rubbermaid
 Easy access to GA 400
 Outstanding building signage
 Well connected local developers
(Cousins, Ackerman, Russell)
 No nearby amenities whatsoever
 Tricky pedestrian route to MARTA
under GA 400
 Three partners may slow decisions
OPPORTUNITIES
THREATS
 Pull prospects from North Fulton
submarket
 Pull prospects from NE & NW
submarkets
•
I-285 & GA 400 Interchange
construction
Source: JLL Research
700 NORTHPARK
Cousins
775,000 SF
Mixed-use
Proposed
Last updated: June, 2015
700 NORTHPARK: SWOT ANALYSIS
STRENGTHS
WEAKNESSES
•
•
•
•
Easy access to GA 400
Respected local developer
Immediately adjacent to MARTA
OPPORTUNITIES
•
•
•
Cousins can move large tenants
between buildings they own
Can provide temporary space in
existing buildings
Expansion of corporate campus
•
Inferior location behind Northpark 400,
500 & 600
There are better development sites
THREATS
•
They will likely develop the Abernathy
400 site before 700 Northpark
Source: JLL Research
NORTHPARK 100
Hines
775,000 SF
Mixed-use
Proposed
Last updated: June, 2015
NORTHPARK 100: SWOT ANALYSIS
STRENGTHS
•
•
•
Easy access to GA 400
Respected local developer (Hines)
Immediately adjacent to MARTA
OPPORTUNITIES
•
WEAKNESSES
•
THREATS
•
775,000 rsf in two buildings
May be focused on 220,000 sf T3
development in Midtown
GA 400 & I-285 interchange work may
create 2-3 year congestion at
Abernathy
Source: JLL Research
4004 & 9009 PERIMETER SUMMIT
Seven Oaks
750,000 SF
Office use
Proposed
Last updated: June, 2015
PERIMETER SUMMIT: SWOT ANALYSIS
STRENGTHS
WEAKNESSES
•
•
•
•
•
Easy access to I-285
Respected local developer (Hines)
Adjacent to newest hotel in Central
Perimeter
OPPORTUNITIES
•
•
Can provide temporary space in
existing buildings
Expansion of corporate campus
Inferior location inside the Perimeter
There are better development sites in
Central Perimeter
THREATS
•
GE Pension is their partner and may
put new developments on hold
Source: JLL Research
ETHOS
Crown Holdings
750,000 SF
Mixed-use
Proposed
Last updated: June, 2015
GLENRIDGE HIGHLANDS III
Piedmont Office Realty
300,000 SF
Office-use
Proposed
Last updated: June, 2015
HIGH STREET
GID
4.3 MSF full build (1.3 MSF Phase 1)
Mixed-use
Proposed
Last updated: June, 2015
HIGH STREET: SWOT ANALYSIS
STRENGTHS
•
•
•
•
•
Superior location will serve as the new center
of the Central Perimeter submarket
Mixed-use development including office,
residential, hotel and retail
Ideal scale of development
Pedestrian-focused environment
Transit-oriented with direct access to MARTA
WEAKNESSES
•
•
Congested area during rush hour and
holidays
GID is largely unknown as compared
to other local developers
OPPORTUNITIES
THREATS
•
•
•
•
Master planned for additional office
First new development to submarket
in 7 years
Construction of State Farm campus
Ashford Dunwoody, GA 400 & I-285
interchange work
Source: JLL Research
STATE FARM’S LEASE EXPIRATIONS
Source: JLL Research
Last updated: June, 2015
Q1 2015 ends strong with a 5.9% unemployment rate, the lowest
the metro has seen since Spring 2008.
150
12%
100
10%
50
0
-50
-100
8%
6%
4%
-150
2%
-200
0%
Unemployment rate (%)
12-month net change employment
(thousands)
12-month net change
Source: JLL Research
Office-using subsector PBS remains the metro’s growth driver,
as well as consumer confidence led industries
Professional and business services
Leisure and hospitality
Retail trade
Health care and social assistance
Financial activities
Wholesale trade
Transportation and utilities
Government
Construction
Educational services
Durable goods
Other services
Manufacturing
Nondurable goods
Information
Mining and logging
0
0
0
0
5,400
5,200
4,600
4,400
3,900
2,700
2,500
2,200
2,100
9,500
11,700
15,100
14,600
5,000
10,000
15,000
12-month net change in jobs
20,000
Source: JLL Research
Office-using job growth has been very strong for the metro since
the recovery, as it nears doubling its gains
Jobs lost during recession…
Jobs gained during recovery…
Source: JLL Research
2014 GEORGIA ACCOLADES
#1 State for foreign direct investment strategy - FDI Magazine
#5 Globally for major global cities of the Future -Human Capital & Lifestyle
#1 State for workforce - CNBC
#1 State for doing business - Area Development Magazine
#1 State for Business Climate - Site Selection Magazine
#1 State for Business - CNBC
#1 State for lowest cost of doing business - Business Facilities Magazine
Source: JLL Research
METRO ATLANTA POPULATION GROWTH
6,000,000
5,650,000
5,000,000
4,000,000
3,000,000
2,000,000
1,000,000
0
1970
1975
1980
1985
1990
1995
2000
2005
2010
2015
Source: JLL Research
TOURISM & FILM INDUSTRIES
Georgia’s total tourism demand now stands 24 percent higher than its prerecession level in 2007” - U.S. Travel Association and Tourism Economics
“In the last 5 years tourism expenditures in the Atlanta Metro region have
increased 28.67 percent.” - 2013 USTA Economic Impact Report
Georgia is the third ranking state for feature film production, falling behind
California and New York. In 2014, 10 feature films were filmed in the state
of Georgia - FilmL.A. Inc.
Source: JLL Research
CLASS A RENTAL RATE GROWTH
Central Perimeter
7.6%
North Fulton
6.2%
Northwest
5.3%
Buckhead
1.9%
Northeast
1.9%
Northlake
1.8%
Midtown
0.3%
South Atlanta
-2.7%
Downtown
-4.9%
Source: JLL Research
VACANCY DECLINE FOR 20 QTRS
Class A net absorption (s.f.)
Class A direct vacancy rate (%)
1,000,000
25.0%
800,000
20.0%
600,000
15.0%
400,000
10.0%
200,000
5.0%
0
2015 1Q
2014 4Q
2014 3Q
2014 2Q
2014 1Q
2013 4Q
2013 3Q
2013 2Q
2013 1Q
2012 4Q
2012 3Q
2012 2Q
2012 1Q
2011 4Q
2011 3Q
2011 2Q
2011 1Q
2010 4Q
2010 3Q
2010 2Q
0.0%
2010 1Q
-200,000
Source: JLL Research
CENTRAL PERIMETER RATE DELTA
40.0%
$35.00
35.0%
$30.00
30.0%
$25.00
25.0%
$20.00
20.0%
$15.00
15.0%
$10.00
10.0%
5.0%
$5.00
0.0%
$0.00
2000 2002 2004 2006 2008 2010 2012 2014
2000 2002 2004 2006 2008 2010 2012 2014
Central Perimeter Trophy
Central Perimeter Class A
Central Perimeter Class B
2015 YTD
29.4%
11.2%
5.1%
6.1%
2015 YTD
$30.97
$26.13
$19.73
$4.84
Source: JLL Research