Offering Memorandum BELTLINE MIXED-USE DEVELOPMENT SITE | 0.89 ACRES TABLE OF CONTENTS

DISCLAIMER 3

Daniel Latshaw, CCIM, MBA EXECUTIVE SUMMARY 4 Partner, Bull Realty PROPERTY INFORMATION 5 [email protected] LOCATION MAPS 6 404-876-1640 x127 CONCEPTUAL PLANS 7 SURVEY 8 Bull Realty, Inc. ZONING 9 50 Glenlake Parkway, Suite 600 UPCOMING BELTLINE DEVELOPMENTS 11 , GA 30328 SALE COMPS 12 BullRealty.com IN THE AREA 13 ABOUT THE AREA 16 TEAM PROFILE 18 CONFIDENTIALITY AGREEMENT 19

Exclusively listed by Bull Realty, Inc. Page 2 of 19 DISCLAIMER

BELTLINE MIXED-USE DEVELOPMENT SITE | 0.89 ACRES

Bull Realty has been retained as the exclusive listing broker to arrange the sale of the Subject Property.

This Offering Memorandum contains selected information pertaining to the Property but does not purport to be all-inclusive or to contain all of the information that a prospective purchaser may require. All financial projections are provided for general reference purposes only and are based upon assumptions relating to the general economy, competition and other factors, which therefore, are subject to material change or variation. Prospective purchasers may not rely upon the financial projections, as they are illustrative only. An opportunity to inspect the Property will be made availableto qualified prospective purchasers.

In this Offering Memorandum, certain documents, including financial information, are described in summary form and do not purport to be complete or accurate descriptions of the full agreements involved, nor do they constitute a legal analysis of such documents. Interested parties are expected to review independently all documents.

This Offering Memorandum is subject to prior placement, errors, omissions, changes or withdrawal without notice and does not constitute a recommendation, endorsement, suitability or advice as to the value of the Property by Bull Realty Inc. or the current Owner/Seller. Each prospective purchaser is to rely upon its own investigation, evaluation and judgment as to the advisability of purchasing the Property described herein.

Owner/Seller expressly reserve the right, at its sole discretion, to reject any or all expressions of interest or offers and/or to terminate discussions with any party at any time with or without notice. Owner/Seller shall have no legal commitment or obligation to any purchaser reviewing this Offering Memorandum or making an offer on the Property unless a written agreement for the purchase of the Property has been fully executed, delivered and approved by the Owner/Seller and any conditions to the purchaser's obligations therein have been satisfied or waived. The Owner/Seller reserves the right to move forward with an acceptable offer prior to the call for offers deadline.

This Offering Memorandum may be used only by parties approved by the Broker. The Property is privately offered, and by accepting this Offering Memorandum, the party in possession hereof agrees (i) to return it if requested and (ii) that this Offering Memorandum and its contents are of a confidential nature and will be held and treated in the strictest confidence. No portion of this Offering Memorandum may be copied orotherwise reproduced or disclosed to anyone without the prior written authorization of Bull Realty, Inc. The terms and conditions set forth above apply to this Offering Memorandum in its entirety and all documents, disks and other information provided in connection therewith.

Page 3 of 19 EXECUTIVE SUMMARY

BELTLINE MIXED-USE DEVELOPMENT SITE | 0.89 ACRES

Aerial Location Conceptual Rendering

Bull Realty is pleased to present an opportunity to acquire a rare, nearly 1-acre site just • ± 0.89 acre site with flexible MRC-1C zoning steps away from the completed Westside BeltLine Trail. Given the recent development in • Perfect for new residential, commercial or live/work development the area, this site is ripe for townhome, multifamily, live-work, retail or any number of commercial or residential uses. • Conceptual site plans for 38,700 SF of townhomes / 43 unit apartments

• Near Westside BeltLine and WestEnd MARTA Transit Station This MRC-1C zoned ± 0.89 acre site is strategically located between the West End MARTA transit station the BeltLine. This site benefits from ± 404 feet of frontage on popular Lee • ± 404' frontage on Lee Street Street and traffic counts of 11,420 VPD. Neighboring developments like Carter’s “The • Traffic counts of 11,420 VPD on Lee Street MET” and the Murphy Crossing redevelopment site, as well as soaring home prices in • One of the hottest developmental areas in Atlanta adjacent historic West End and make for one of the hottest areas for new development in the city. Conceptual drawings suggest the property can accommodate 43 • Architect's Due Diligence report: http://ow.ly/EnaX50uMqT2 multifamily units of 900 SF per unit, totaling approximately 38,700 SF or 14 single • Potential apartment site plan: http://ow.ly/Fnx450uMqdm townhomes.

PRICE | $675,000

Page 4 of 19 PROPERTY INFORMATION

BELTLINE MIXED-USE DEVELOPMENT SITE | 0.89 ACRES

Property Address: 889 Lee Street, Atlanta, GA 30310 County: Fulton Site Size: 0.89 Acres Zoning: MRC-1C Parcel ID: 14-0106-0001-030-0 Proposed Use: Multifamily/Townhomes/Mixed-use Frontage: 404' on Lee Street Traffic Count: 11,420 VPD on Lee Street Sale Price: $675,000

Page 5 of 19 LOCATION MAPS

BELTLINE MIXED-USE DEVELOPMENT SITE | 0.89 ACRES

Page 6 of 19 CONCEPTUALCONCEPTUAL TOWNHOMESITE PLANS PLANS

POTENTIALBELTLINE MIXED-USEMIXED-USE DEVELOPMENTDEVELOPMENT SITESITE || 0.890.89 ACRESACRES

CONCEPTUAL RENDERINGS CONCEPTUAL SITE PLANS

A proposed plan would allow for 43 modern- designed townhomes (a total of 38,700 SF) located in a prime location on the West End, near the BeltLine.

SOURCE: Gamble & Gamble Architects

PageP age 77 ofof 19 17 SURVEY

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Page 8 of 19 ZONING

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BELTLINE OVERLAY DISTRICT

SUBJECT PROPERTY

Subject property is located in mixed-use, 5-9 story Beltline Overlay District and in close proximity to a potential transit stop.

Source: BeltLineOrg-wpengine.net

Page 9 of 19 ZONING

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ZONING CONDITIONS

Source: Atlanta City Council

FOR SPECIFIC CITY OF ATLANTA MRC ZONING INFORMATION: http://ow.ly/i4mK30oTKyN

Page 10 of 19  New stop sign at intersection of Sells Avenue and Atwood Street to compliment existing ramp metering signal and prevent automobiles from using Sells Avenue as an on-ramp to I-20

Kroger Citi-Center Area The intersections of RDA Boulevard with Cascade Avenue and Langhorn Street were frequently identified by residents as problematic. The following improvements will allow for more logical vehicular movements and safer pedestrian crossings.

 Extend the length of the right turn lane from RDA Boulevard southbound onto Cascade Proposed improvements at the intersection of RDA Avenue westbound. Boulevard and Cascade Avenue will improve traffic flows

 Reconfigure right turn lanes in three locations to decrease curb radii and allow safer pedestrian and emergency vehicles to enter. The remainder crossings. of the street would become two-way.

 Reduce White Street to one-lane southbound  Close Muse Street’s southern entrance to vehicular traffic, but allow pedestrians, bicycles, and convert unused right-of-way to pedestrian space and improved street crossings. Figure 4: Recommended TransportationUPCOMING Improvements BELTLINE DEVELOPMENTS

Key Project Name Description Intersection Improvements Add a separate right turn lane southbound on RDA; BELTLINE MIXED-USE DEVELOPMENT SITE | 0.89 ACRES Intersection Improvement: Cascade Avenue/Ralph David I-1 add a separate right turn lane northbound on Kroger Abernathy Boulevard Dwy/RDA Extension Change southbound lane on Langhorn to a separate PROPOSED DEVELOPMENT NEAR SUBJECT PROPERTY Intersection Improvement: Ralph David Abernathy left turn, a through lane, and a right turn lane; change I-2 Boulevard/Langhorn Street northbound left turn signal to protected and permitted phase Close entrance at RDA Blvd and construction an I-3 Intersection Improvement: Muse Street Closing mountable emergency-vehicle-only entry

Intersection Signalization New traffic signal, per Connect Atlanta Plan (#IS-005) IS-1 New Traffic Signal: Langhorn St at Sells Ave when transit is in-place and warranted

New Streets / Connections New roadways and extension of existing roadways NS-1 New Streets : Street Framework Plan based on the Street Framework Plan New street and bridge from Enota Pl to Langhorn Ave NS-2 New Street: Greenwich Avenue Extension in existing ROW; signal on Langhorn St; approach to west Extend RDA Blvd across Cascade Ave to Hopkins St NS-3 New Street: RDA Blvd Extension (South) (Connect Atlanta #NS-025) Extension from White St to BeltLine, including crossing NS-4 New Street: Hopkins Street Extension (North of Beltline) (Connect Atlanta #NS-024) Extension from BeltLine to White St (Connect Atlanta NS-5 New Street: Hopkins Street Extension (South of BeltLine) #NS-024) Reroute Rose Circle on existing parkland north to NS-6 New Street: Rose Circle Realignment White St; convert closed segment to park space Extension of south Peeples Street from Donnelly Ave to NS-7 New Street: South Peeples Street Extension White St with at-grade BeltLine crossing (Connect Atlanta #NS-021; PS-NS-012) Extension of north Peeples Street through Rose Circle NS-8 New Street: North Peeples Street Extension Park Extension of Bridges Ave from terminus to Westmont NS-9 New Street: Bridges Avenue Extension Road

New Sidewalks Install sidewalk and lighting on south side from RDA S-1 New Sidewalk: White Street Blvd to Lee Street (1.18 mi) and east of West End Trail (0.34 mi). Includes crosswalk upgrades. Install sidewalks, trees, and lighting on south side from Cascade Ave to Lee Street (1.25 mi) and north side S-2 New Sidewalk: Donnelly Avenue from Cascade Ave to 1003 Donnelly Ave (1.1 mi). Includes crosswalk upgrades. Covered walkway on east side of Lee St (MARTA S-3 New Sidewalk: MARTA/BeltLine Connector property) then west side south of MARTA station to BeltLine Install sidewalks and lighting on the west side of Lee S-4 New Sidewalk: Lee Street Street from BeltLine to City Limits Install new sidewalks on both sides of Peoples St from S-5 New Sidewalk: Peeples Street Donnelly Ave to Dimmock St

Roadway Enhancement / Streetscape Asymmetrical reduced from 6 lanes to 3 lanes retaining lanes on west side from I-20 to RDA Boulevard (0.63 E-1 Langhorn Street "Road Diet" mi). New sidewalks trees and lights on east side. Signals at Sells and Lucile. Remove outside soutbound lane and convert to a planted pedestrian space; install highly-visible E-2 White Street Pedestrian Enhancements crossings with median refuge at Hopkins St (Sidewalks included in S-1)

Traffic Calming Install traffic calming features from Langhorn St to I-20; TC-1 Traffic Calming: Sells Avenue per Connect Atlanta Plan (#TC-002). Specifics to be coordinated with GDOT.

SUBJECT PROPERTY

S-3 New Sidewalk: MARTA/BeltLine Connector Covered walkway on east side of Lee St (MARTA property) then west side south of MARTA station to BeltLine sidewalk improvements to make better connectivity between the West End Transit Station & the Beltline. This will pass right by the subject property.

Source: BeltLineOrg-wpengine.net

Page 11 of 19 11 ATLANTA BELTLINE MASTER PLAN • December 6, 2010 SUBAREA 1 SALE COMPS

BELTLINE MIXED-USE DEVELOPMENT SITE | 0.89 ACRES

Subject Property

SUBJECT PROPERTY Address City Asking Price Price/AC Site Size Sold Date

889 Lee Street Atlanta $675,000 $758,427 0.89 AC -

SALES COMPS Address City Sale Price Price/AC Site Size Sold Date

1 1089 Allene Ave Atlanta $857,000 $857,000 2.5 AC 08/03/2018

2 Lucile Ave SW Atlanta $1,757,200 $3,514,400 0.5 AC 09/27/2013

3 942 Murphy Ave Atlanta $2,650,000 $1,221,198 1.37 AC 11/09/2018

4 946 Murphy Ave Atlanta $2,650,000 $756,000 0.8 AC 11/09/2018

Page 12 of 19 IN THE AREA

BELTLINE MIXED-USE DEVELOPMENT SITE | 0.89 ACRES

Page 13 of 19 IN THE AREA

BELTLINE MIXED-USE DEVELOPMENT SITE | 0.89 ACRES

Page 14 of 19 IN THE AREA

BELTLINE MIXED-USE DEVELOPMENT SITE | 0.89 ACRES

LEE+WHITE MONDAY NIGHT GARAGE

1 This 23-acre adaptive reuse of warehouses on the Located within the Lee + White space, Monday Night 4 BeltLine's Westside Trail features a restaurant and Brewing's "Garage" paved the way in 2017 with its cocktail bar on the top floor, and a Hop City retail 22,000 SF warehouse facility for sour and barrel-aged store in the basement. Monday Night Brewing led the beers, with this taproom and event space on the way in 2017, transforming a warehouse into a facility to Westside Beltline. enjoy beer with a taproom. Hop City also offers a broad selection of craft beer and small production wines and a second bar offering sips.

THE MET SUMMERHILL

2 Originally built to aid struggling farmers, One of Atlanta’s oldest neighborhoods covering 19 5 potentially saving the region from an agricultural blocks between Grant Park, I-20 and 75/85, crisis, The MET is a melting pot of culture, innovation, Summerhill's current redevelopment will preserve industry and entrepreneurship in over 1 million square Atlanta’s collective past and reconnect adjacent feet. Tenants are a diverse spectrum of industries and historic neighborhoods. Proposals include student disciplines, sharing the spirit of desire and creation. housing and local businesses, designed to be walkable/bikeable, as well as combine and enhance The space fosters growth for entrepreneurs, artists business with community. and creatives.

THE GULCH MURPHY CROSSING

3 The Gulch is 40-acre expanse of rail tracks and parking The BeltLine has acquired 2.5 acres of trail-adjacent 6 lots in the heart of the city, situated before the Atlanta property with the potential to boost the stature of the skyline and under . In 2018, a $5 Murphy Crossing site next to the Westside Trail. The property on Allene Avenue in Adair Park could allows billion proposal was submitted or a mixed-use the former State Farmers Market site to prosper and development. Residents and visitors often utilize this benefit neighborhoods in its vicinity. The expansion of site is for tailgating before or after concerts and the Murphy Crossing property, located near Ashby sporting events at Mercedes-Benz Stadium and State Oakland City and West End MARTA stops, could be an Farm Arena. incentive for growth on the southwestern side of Atlanta.

Page 15 of 19 ABOUT THE AREA

BELTLINE MIXED-USE DEVELOPMENT SITE | 0.89 ACRES

THE WEST END

Winner of both 2015 and 2017 Atlanta Curbed “Neighborhood of the Year” contest and named “Hottest Neighborhood in Atlanta” in 2016 by Redfin, Atlanta’s West End neighborhood is thriving with new life.

West End is a residential community, originally established as White Hall in 1835. Located just 3 miles southwest of , where Interstates 75/85 and Interstate 20 meet, West End was one of the first streetcar suburbs of Atlanta.

Today, West End is a unique urban community that brings together the perfect mix of the conveniences of intown living with southern hospitality, old-fashioned neighborliness and a strong historic identity. Listed on the National Register of Historic Places and one of Atlanta’s Historic Districts, West End is amid a sort of renaissance. Many homes in West End are historic and represent a variety of turn-of-the-century architectural styles, and resident homeowners are proudly and painstakingly restoring these houses to their original glory.

West End is a beautiful tree-lined neighborhood, with many trees as old as some of the historic houses. West End boasts five City of Atlanta parks and more thana mile-long stretch of the Atlanta BeltLine Westside Trail. Cost of living is still surprisingly affordable in West End as compared to similar historic neighborhoods across Atlanta, and the commercial district affords tremendous growth potential for new and existing businesses. Furthermore, West End has great access to public transportation options and is one of the first residential to offer a Bike Share terminal when the program officially launched in 2016.

Families with children residing in the West End have a variety of public educational opportunities, in addition to (Washington High School Cluster). Multiple high performing and award-winning charter schools also serve West End and surrounding communities, including a KIPP Metro Atlanta School, The Kindezi School and Westside Atlanta Charter School.

Page 16 of 19 ABOUT THE AREA

BELTLINE MIXED-USE DEVELOPMENT SITE | 0.89 ACRES

ATLANTA

Atlanta is an exciting destination with world-class restaurants, a festive nightlife, several major league sports teams and an abundance of cultural attractions. Atlanta’s arts and culture scene is complemented by in-town neighborhoods that give the city even more depth. These locations are in the neighborhoods of Midtown, Virginia-Highland, and - a short cab ride away.

Home to the busiest and most efficient airport in the world, Hartsfield-Jackson Atlanta International Airport, and the Maynard H. Jackson International Terminal, getting to Atlanta is easy. With a variety of transportation options throughout the city, our guides, maps, shuttles, tours and Atlanta Ambassadors make getting around Atlanta easy too.

Encompassing $304 billion, the Atlanta metropolitan area is the eighth-largest economy in the country and 17th-largest in the world. Corporate operations comprise a large portion of the Atlanta’s economy, with the city serving as the regional, national, or global headquarters for many corporations. Atlanta contains the country’s third largest concentration of Fortune 500 companies, and the city is the global headquarters of corporations such as The Coca-Cola Company, The Home Depot, Delta Air Lines, AT&T Mobility, UPS and Newell-Rubbermaid. Over 75 percent of Fortune 1000 companies conduct business operations in the Atlanta metropolitan area, and the region hosts offices of about 1,250 multinational corporations. Many corporations are drawn to Atlanta on account of the city’s educated workforce; as of 2010, nearly 43% of adults in the city of Atlanta have college degrees, compared to 27% in the nation as a whole and 41% in Boston.

Page 17 of 19 TEAM PROFILE

BELTLINE MIXED-USE DEVELOPMENT SITE | 0.89 ACRES

Michael Bull Broker

Carine Davis Marketing

Scott Jackson Analyst

Daniel Latshaw, CCIM, MBA Partner, Bull Realty [email protected] 404-876-1640 x127

Page 18 of 19 CONFIDENTIALITY AGREEMENT

BELTLINE MIXED-USE DEVELOPMENT SITE | 0.89 ACRES

This Confidentiality Agreement (“Agreement”) is made and agreed to for the benefit ofthe II. Acting as a Principal: undersigned party (“Receiving Party”), the owner of the subject property (the “Seller”) and Receiving Party hereby warrants that it is acting as a principal only, and not as a broker, undersigned broker Bull Realty Incorporated (“Broker”). Now therefore in consideration of the regarding this contemplated transaction. Receiving Party acknowledges that Broker is working privileges granted to Receiving Party with respect to receiving certain confidential information, an agency capacity as representing the Seller only in this transaction and is the only Broker and other good and valuable consideration, the Receiving Party hereby agrees to the following: involved in this potential transaction. Receiving Party agrees to not be involved in any arrangement to lease or purchase the property, in whole or in part, as a lender, partner, buyer of I. Confidential Information: the note, buy in foreclosure, buy from bankruptcy court, or in any other manner acquire an Receiving Party will receive confidential information regarding property referred to as 889Lee investment in, joint venture or control of the property, unless Bull Realty, Incorporated is paid a Street. Prospect agrees to not disclose to any person that the property may be available for sale commission at closing as per separate agreement with Seller. or lease, or that discussions or negotiations are taking place concerning the property, nor any terms, conditions, or other facts with respect to the property, including but not limited to tenant This agreement will expire two years from the date hereof. information, lease rates, lease expirations, income and expenses, and any such possible purchase, including the status thereof. The term “person” used in this agreement shall be III. Governing Law interpreted broadly and shall include, without limitation, any corporation, company, partnership This Agreement shall be governed and construed in accordance with the laws of the State of or individual other than parties to which Broker approves in writing. Receiving Party may share Georgia. information with directors, officers, employees, agents, affiliates, counsel, lending sources, accountants or representatives of Receiving Party that Receiving Party notifies of the If you are a broker, or a principal desiring to include an outside broker, contact the listing agent requirements of this Agreement. Receiving Party agrees to not contact the property owner, the directly for a Buyer and Buyer’s Broker Confidentiality & Commission Agreement. management, the tenants, the lender, the vendors, the insurers, the employees or the customers of any business at the site.

Accepted and agreed to __ / __ / __ Daniel Latshaw, CCIM, MBA 404-876-1640 x127 Receiving Party [email protected] Bull Realty, Inc. Signature 50 Glenlake Parkway, Suite 600 Printed Name Atlanta, GA 30328

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