Industrial Mark Overview

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Industrial Mark Overview

  1. 1. 2007 Industrial Market Overview Jeff Wilke, CCIM, SIOR Graham & Company Southeast
  2. 2. Huntsville, Alabama
  3. 3. Industrial Market Overview <ul><li>Dominated by the Jetplex and Chase Industrial Parks </li></ul><ul><li>Vacancy rate of less than 5% </li></ul><ul><li>Over 350,000 sf speculative development under construction </li></ul><ul><li>Majority of growth is in the Jetplex area </li></ul>
  4. 5. Jetplex Industrial Park <ul><li>2,800 acres that surround The Huntsville International Airport and the Intermodal Center </li></ul><ul><li>Offers Foreign Trade Zone #83, U.S. Customs Port of Entry and interstate access via I-565. </li></ul>
  5. 6. Jetplex Recent Developments <ul><li>International Truck and Engine Corporation will assemble its new line of truck diesel engines at a 300,000 sf facility at Jetplex Industrial Park. The new plant will employ 175 employees. </li></ul><ul><li>Airport Distribution Center, a 208,000 sf warehouse between I-565 and Short Pike Road. </li></ul>
  6. 7. Jetplex Major Tenants <ul><li>International Diesel </li></ul><ul><li>The Boeing Company </li></ul><ul><li>Cinram </li></ul><ul><li>Kohler </li></ul><ul><li>Intergraph </li></ul>
  7. 8. Chase Industrial Park <ul><li>1,700-acre park located in northeast Huntsville </li></ul><ul><li>The park is mostly comprised of single tenant employers. </li></ul><ul><li>Qualitest Pharmaceuticals, a manufacturer of generic drugs, has over 750,000 sf of office and manufacturing space in the park. </li></ul><ul><li>Cinram, one of Huntsville’s largest employers, uses a 1.4 million sf facility to manufacture compact discs. </li></ul>
  8. 9. Chase Recent Developments <ul><li>Kömmerling USA expanded its facility by 100,000 sf. More than sixty new jobs will be added with the expansion. </li></ul><ul><li>Cinram expanded its current facility by 263,000 sf. Now they have 1,400,000 sf under one roof to make DVD’s for the entertainment industry. </li></ul>
  9. 10. Chase Major Tenants <ul><li>Cinram </li></ul><ul><li>Qualitest Pharmaceuticals </li></ul><ul><li>Hart & Cooley </li></ul><ul><li>Kömmerling </li></ul><ul><li>J & J South Central </li></ul><ul><li>PPG. </li></ul>
  10. 11. Industrial Land Sites
  11. 12. Jetplex <ul><li>Total: 2,800 acres </li></ul><ul><li>Available: 1,400 acres </li></ul><ul><li>Price: $58,500 to $84,500 per acre </li></ul>
  12. 13. Jetplex South <ul><li>Total: 1,400 acres </li></ul><ul><li>Available: 1,400 acres </li></ul><ul><li>Price: $35,000 to $43,500 per acre </li></ul>
  13. 14. Chase <ul><li>Total: 1,700 acres </li></ul><ul><li>Available: 50 acres </li></ul><ul><li>Price: $22,500 per acre </li></ul>
  14. 15. Lowe Industrial Park <ul><li>Total: 1,700 acres </li></ul><ul><li>Available: 50 acres </li></ul><ul><li>Price: $22,500 per acre </li></ul>
  15. 16. North Huntsville Industrial Park <ul><li>Total: 600 acres </li></ul><ul><li>Available: 200 acres </li></ul><ul><li>Price: $50,000 per acre </li></ul>
  16. 17. I-565 Business Park <ul><li>Total: 60 acres </li></ul><ul><li>Available: 37 acres </li></ul><ul><li>Price: $ 75,000 - $100,000 per acre </li></ul>
  17. 18. Speculative Developments
  18. 19. Phase II - ADC <ul><li>208,000 sf </li></ul><ul><li>$4.50 psf </li></ul>
  19. 20. Tradeport <ul><li>108,000 sf </li></ul><ul><li>$5.50 psf </li></ul>
  20. 21. 115 Electronics Circle <ul><li>42,000 sf </li></ul><ul><li>$7.00 per sf </li></ul>
  21. 22. Recent Industrial Sales
  22. 23. 1000 James Record Road <ul><li>359,000 sf </li></ul><ul><li>Sale Price - $7,440,000 </li></ul><ul><li>Cap Rate – 11.86% </li></ul>
  23. 24. 300 Diamond Drive <ul><li>300,000 sf </li></ul><ul><li>Sale Price – 10,250,000 </li></ul><ul><li>Cap Rate – 9.31% </li></ul>
  24. 25. 2845 Wall Triana Highway <ul><li>118,759 sf </li></ul><ul><li>Sold out of bankruptcy and is being re-developed. </li></ul>
  25. 26. Questions?

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