Industrial Market, 2011

Warehouse/industrial activity increased slightly in 2010 and the trend is expected to continue during 2011. According to the most recent survey of over 17 million square feet of warehouse/industrial space, over 10,000 sf in Bibb County, occupancy is at 76%. However, when the vacant 2.2 million Brown & Williamson Tobacco Plant is removed from the survey the occupancy increases to 88%. There are approximately 30 available warehouse/industrial buildings on the market with over 10,000 square feet.

Highlights of Industrial/warehouse Activity in 2010 include:

• The 100,000 sf ROOKER spec building reached 100% occupancy.
• The 200,000 sf Wal-Mart Distribution center at 3235 Avondale Mill Rd is currently leased
• Global Parts leased the 100,000 sf warehouse located at 3275 Avondale Mill Rd.
• The 25,000 sf building at 4390 Interstate Dr sold to Ashley Furniture for use as a distribution
  warehouse.
• The concrete plant located at 690 Commerce Drive was purchased to be reopened as a concrete plant.
• The 263,000 sf multi tenant warehouse at 2501 Weaver Road Building obtained 100% occupancy.
• The Macon-Bibb County Industrial Authority reported that since 2004 the Authority has sold over
  500 acres in their seven (7) industrial parks but has only added 400 acres in that same period. In
  2009 the Authority purchased 250 acres and in 2010 has purchased nearly 40 acres adjacent to one
  of their industrial parks and has an additional 50 acres under contract adjacent to another park.
• Infrastructure work continues in the I-75 Business Park. A new 1 million gallon elevated water tank is under construction and a cul de sac is being built to open up additional acreage in the premier park. The new interstate interchange under construction on the southern boundary of the park will give the park two (2) interstate interchanges.
• A 500,000 gallon elevated water tank in the Sofkee Industrial Park was completed 4Q 2010. This will provide water and fire service to the park and surrounding area.

During 2010 it is estimated that the Bibb County market experienced a 540,000 sf positive absorption.

The Macon Economic Development Commission (MEDC), the public/private partnership responsible for recruiting new companies and working with existing companies on expansions, reports that while prospect activity was down nearly 20% in 2010 over 2009, they were still able to report five (5) new companies or expansions of existing companies in 2010. This activity resulted in 368 new jobs while saving 222 current jobs and pumping over $21 million annually of payroll into the middle Georgia community.

The companies will invest over $273 million in new plant and equipment, adding 790,000 square feet of new industrial space and leasing 75,000 square feet of existing space. The companies include two (2) international paper products manufacturers, two (2) aircraft/aerospace manufacturers and a 3PL logistics firm. The reasons cited by the firms included the quality of the middle Georgia workforce, its strategic location in the Southeast, and local and state support for business growth.

The MEDC has been working closely with the Georgia Ports Authority to prepare for the increase in traffic from the Port of Savannah with the widening of the Panama Canal and the deepening of the Savannah port to handle the new larger container ships. The MEDC continues to focus on six (6) business segments: Aerospace; Automotive; Shared Services; Food Processing; Logistics; and Advanced Manufacturing.