OFFERING MEMORANDUM OFFICE CONDO IN VIRGINIA HIGHLAND
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[email protected] | Sold Comparables Sold Profile Area Atlanta MSA Market About The Area Profile Broker Profile Team Executive Summary THE OFFERING Overview Conditions Disclaimer & Limiting Executive Maps Property Location Highlights THE PROPERTY Area Area Count Demographics & Traffic THE MARKET BULLREALTY.COM BULLREALTY.COM 404-876-1640 x 150 404-876-1640 | TABLE OF CONTENTS OF TABLE | MICHAEL WESS
OFFICE CONDO IN VIRGINIA HIGHLAND | Georgia |PAGE 2 OF 13 OFFICE CONDO IN VIRGINIA HIGHLAND | Georgia |PAGE 3 OF 13 DISCLAIMER & LIMITING CONDITIONS & LIMITING DISCLAIMER This information Memorandum contains selected Confidential Offering pertaining to the Property but or ofto contain all purportnot does to be all-inclusive may information the purchaser a prospective that for All financial projections are provided purposesgeneral reference upon only and are based require. are subject therefore, which and other factors, competition to the generalassumptions relating economy, financial projections, not rely upon the may purchasers Prospective to material change or variation. An opportunity to qualified the Property to inspect be made available will only. as they are illustrative purchasers. prospective including financial information, certainIn this Confidential Memorandum, documents, are described in summary form and do not purport to be complete or accurate descriptions of the full agreements nor do they constitute a legal analysis ofinvolved, Interested parties are expected to documents. such review independently all documents. changes or withdrawal This omissions, Memorandum is subject to prior placement, errors, Confidential of a recommendation, endorsement or advice as to the value without notice and does not constitute the is to rely upon its purchaser prospective Each or the current Owner/Seller. Inc. PropertyRealty Bull by and judgment as to the advisability of evaluation investigation, own the Property purchasing described herein. Owner/Seller expressly reserve of the right, at its sole discretion, to reject any or all expressions interest the Propertyor offers to purchase terminate and/or to discussions with any party at any time with or no legal commitment or obligation reviewing Owner/Seller shall have to any purchaser without notice. the Propertyor making an offer to purchase this Confidential Memorandum unless a written agreement offor the purchase the Owner/Seller by and approved delivered the Property has been fully executed, The Seller waived. been satisfied or obligations therein have and any conditions to the purchaser’s with an acceptable prior to the call for offers deadline. offer forward reserves the right to move The Property by the Owner. by partiesThisbe used only approved Memorandum may Confidential accepting this Confidential Memorandum, the party offered, and by hereof in possession is privately agrees (i) to return it if requested and (ii) that this Confidential Memorandum and its contents are of No portion a confidential nature and will be held and treated in the strictest confidence. of this without be copied or otherwise reproduced or disclosed to anyone Confidential Memorandum may The terms or Owner/Seller. the prior written authorization of and conditions set Inc. Bull Realty, disks and other entirety and all documents, apply to this Confidential Memorandum in its forth above information in connection therewith. provided Renovated February 2017 Renovated SF historic 2,770 SF office condo located in ± 30,000 1924) Highland Building (EST. two office, private Condo includes open office areas, break area restrooms, Building amenities include: high speed internet, separately metered controlled HVAC, individually abundant parking and secure entry utilities, distance ofWithin walking / Piedmont Park, Midtown and the Atlanta BeltLine trail and City Market Ponce neighborhoods ofnearby Virginia Highland, Little Five Emory Ward Village and Old Fourth Points,
SALE | $350,000 SALE HIGHLIGHTS • • • • • LEASEFSG | $4,000/Month ard. Designed by the famous Atlanta the ard. Designed by OFFICE CONDO IN VIRGINIA HIGHLAND IN VIRGINIA OFFICE CONDO EXECUTIVE SUMMARY EXECUTIVE THE HIGHLAND BUILDING THE HIGHLAND BUILDING de Leon Ponce between The Highland Building, tucked visitors with a sense of provides and Moreland Avenue, sophistication and history while located within walking distance of City Market, Ponce Piedmont Park, Midtown, neighborhoods the Atlanta BeltLine trail and the nearby of Emory Village Points, Highland, Little Five Virginia W and Old Fourth and built in 1924, The Highland Neel Reid J. architect that preserve its renovations Building recently underwent charmintegrating and authenticity while modern features speed internet, including high individually into the condos, controlled heating and air and separately utilities. metered SUITE B01 Suite B01 is easily accessible from both the north and south ground entrances of level The Highland Building. a The open offices, 2,770 SF unit contains three large, a break room storage areas, several office, smaller private are non- walls the dividing However, restrooms. and two for qualified tenants to load bearing, and TI is available Thewith one suite comes deeded personalize the space. reserved parking space and there is plenty of additional across development parking in the new 125 unit mixed-use the street.
THE OFFERING OFFICE CONDO IN VIRGINIA HIGHLAND | Georgia |PAGE 4 OF 13 THE OFFERING OFFICE CONDO IN VIRGINIA HIGHLAND | Georgia |PAGE 5 OF 13 PROPERTY OVERVIEW PROPERTY ve - Suite B01 ve
Atlanta, Ga 30307 Ga 675 Seminole A Atlanta, Fulton 2,770 SF ± 30,000 SF 3 1924 OI Abundant $350,000 $4,000/Month FSG FLOOR PLAN FLOOR
OFFICE CONDO IN VIRGINIA HIGHLAND IN VIRGINIA OFFICE CONDO Condo Size Built Building Size Number of Stories Spaces Year Price Zoning Parking Sale Lease Rate Address County SALE | $350,000 SALE LEASEFSG | $4,000/Month Subject Property Subject VIRGINIA HIGHLAND AREA LOCATION MAPS LOCATION AREA MIDTOWN
|PAGE 6 OF 13 |PAGE 7 OF 13 AREA HIGHLIGHTS AREA Subject Property Subject 5 miles 368,064 167,904 $86,834 74,285 3 miles 156,203 $97,751 1 mile 10,515 19,087 $111,737 Average Average Population Households 18,940 21,830 27,330 Household Income Household 2016 DEMOGRAPHICS (ESRI) 2016 DEMOGRAPHICS 35,000 = Vehicles Per Day Per = Vehicles DEMOGRAPHICS & TRAFFIC COUNT TRAFFIC & DEMOGRAPHICS #
THE PROPERTY OFFICE CONDO IN VIRGINIA HIGHLAND | Georgia |PAGE 8 OF 13 THE MARKET OFFICE CONDO IN VIRGINIA HIGHLAND | Georgia |PAGE 9 OF 13 TBD $281.14 $305.94 $272.28 $283.84 PRICE/SF TBD $79,000 $87,500 $275,000 $130,000 SALE PRICE SOLD COMPARABLES SOLD 281 286 458 2,770 1,010 BUILDING SF TBD 7/15/2015 3/19/2015 12/5/2014 6/15/2016 RECORDING DATE RECORDING CITY Atlanta Atlanta Atlanta Atlanta Atlanta STREET ADDRESS 675 Seminole Ave, Suite 104 Suite 675 Seminole Ave, 675 Seminole Ave, Suite 109 675 Seminole Ave, 675 Seminole Ave, Suite 212 675 Seminole Ave, 675 Seminole Ave, Suite 310 675 Seminole Ave, 675 Seminole Ave, Suite B01 Suite 675 Seminole Ave,
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Subject Property SOLD COMPARABLES
CONDO PHOTOS CONDO BUILDING PHOTOS
Atlanta-based real estate developer Carter and Georgia State University have proposed have Carter and Georgia State University Atlanta-based real estate developer ofa $300 million redevelopment uses, multiple Field for the property around Turner The retail, residential and student housing. including football and baseball stadiums, ofredevelopment sources. public and private be funded by 77-acre site would the Scheduled to open for the 2017 NFL season, Mercedes-Benz Stadium will serve as the Scheduled home of and entertainment convention in addition to other sports, the Atlanta Falcons that could currently events events held at the Georgia Dome and other new marquee a capacity of Mercedes-Benz stadium will have be hosted in the future. 71,000 seats and the total cost is estimated at $1.4 billion. PLAN TURNER FIELD GSU & The an inside glimpse into the history Atlanta Streetcar Experience offers and Each neighborhoods along the Streetcar line. happenings that shape the Downtown a vibrant blend of by characterized Streetcar stop is unique, sites and businesses, culture. MARKET PONCE CITY located in a historic building in Atlanta, development is a mixed-use City Market Ponce a food hall, boutiques and offices, restaurants, with national and local retail anchors, in Avenue de Leon It is located where the BeltLine crosses Ponce and residential units. Highland, Poncey- the Virginia where that neighborhood touches Ward the Old Fourth neighborhoods. Highland and Midtown DEVELOPMENT NEW STADIUM FALCONS THE ATLANTA BELTLINE THE ATLANTA a network project that will provide The is a sustainable redevelopment Atlanta BeltLine of railroad corridor trails and transit along a historic 22-mile multi-use public parks, other. neighborhoods directly to each and connecting many circling downtown REDEVELOPMENT ATLANTA UNDERGROUND with a new development plans call for a “live-and-shop” The redevelopment $350M to supermarket, cost between residences and retail at the site that will likely new $400M. STREETCAR THE ATLANTA
ATLANTA MSA MARKET AREA PROFILE MARKET MSA ATLANTA
THE MARKET OFFICE CONDO IN VIRGINIA HIGHLAND | Georgia |PAGE 10 OF 13 THE MARKET OFFICE CONDO IN VIRGINIA HIGHLAND | Georgia |PAGE 11 OF 13 ABOUT THE ABOUT AREA Atlanta’s Historic Fourth Ward Park starts in Atlanta’s Old Fourth Ward behind Ward Old Fourth starts in Atlanta’s Park Ward Historic Fourth Atlanta’s Carter and the Parkway South to Freedom and stretches City Market Ponce The central amenity ofCenter. the park is a large storm retention pond. water is one of Park Ward Historic Fourth of the first completed urban park elements the Atlanta BeltLine project. The is transforming Atlanta BeltLine the city with a combination of trail, rail, greenspace, housing and art. neighborhoods, It will ultimately connect 45 in-town and for regional transportation first and last mile connectivity initiatives provide The put Atlanta on a path to 21st century growth economic and sustainability. beauty of and not only modern the Atlanta BeltLine is that it offers conveyances breathing part but it is a living, of new development, exciting not our community;
The Highland and Virginia subject property Midtown, located between is centrally of three Ward, Old Fourth neighborhoods of the hottest in-town It is in Atlanta. popular East side trail of from the close proximity Atlanta BeltLine and the the distance It is also within walking Park. Ward Historic Old Fourth newly renovated of one City Market, to Ponce developments mixed-use and most exciting newest the in the Southeast. is the second largest Midtown business ofdistrict in the city is Midtown Atlanta. institutions attractions, its cultural by marked of architecture, higher education, noteworthy
Midtown, Atl Midtown,
the coffeehouses. and offices. multifamily entertainment at a tiny nightclub, an opening-night party at an artentertainment gallery at a tiny nightclub, or a gathering of people at one of fascinating dining, retail, hub housing as a vibrant community reuse project, has been reinvented largest adaptive is the area’s which restaurants and bistros. Discovering the unexpected is part the unexpected of Discovering restaurants and bistros. musical world- famous find may you the attraction where Building in Atlanta. The classic structure, & Co. Roebuck breathed new life into the historic Sears, City Market Ponce sidewalk cafes, cocktails at lively night spots, and innovative cuisine at progressive progressive cuisine at and innovative night spots, at lively cocktails cafes, sidewalk simply a means of but a destination unto itself. getting somewhere, dining and nightlife. Locals and tourists alike mingle for brunch tourists alike Locals and at charmingdining and nightlife. Historic Virginia Highland is Atlanta’s most popular neighborhood for shopping, Historic Virginia Highland is Atlanta’s and the Atlanta division ofand the Atlanta division College of the Savannah Art (SCAD). and Design of School, Marshall Law education: Georgia Institute of higher John Technology, the 14th Street Playhouse. Midtown is also home to three well known institutions known home to three well is also Midtown the 14th Street Playhouse. Design Atlanta, the Atlanta Symphony Orchestra, the Center for Puppetry Orchestra, Design Atlanta, the Atlanta Symphony Arts and Fox Theatre, WoodruffFox the High Museum of Arts Center, Art, of the Museum and urban layout. The district is the center ofand urban layout. artsincludes the scene that the city’s Michael Wess Michael x 150 404-876-1640 [email protected] The firm produces and hosts The Commercial Real Estate Show, a talk ra- The firmReal Estate Show, produces and hosts The Commercial of millions heard by dio show Industry analysts, people around the country. Bull share founder Michael participantsleading market and Bull Realty’s The has aired show and success strategies. forecasts intelligence, market anytime on iTunes, on radio stations for six years and is available weekly and www.CREshow.com. YouTube Client services include acquisition, disposition, project leasing, tenant repre- sentation, asset management, consulting services. auctions and Advisors focus on specific property services types and expertise to provide health- land, multifamily, retail, industrial, in their sectors including office, and sale-leaseback hospitality, automotive, senior housing, self-storage, care, single tenant net lease properties. Disposition services for appropriate properties on up can include marketing social video, systems, 7 e-marketing systems, 17 marketing to 415 websites, media, auctions and national radio exposure.
• • • • WESS MICHAEL Group Retail National Associate, the commercial real Group for National Retail joined the Wess Michael Mr. estate firmwith the consulting and sales in 2016. He has experience Realty Bull of of types various in the acquisition and real estate and specializes commercial disposition of understands the necessity of Michael retail properties. producing plans ofindividualized in works action for his clients and he consistently their achieve these plans and them in order to execute collaboration with financial objectives. expertise industry in the real estate includes experience as a property Michael’s propertymultifamily manager, for a tax consultant and financial analyst Estate License and the Certified He earned Real his Georgia developer. member of (CCB) certification.Commercial Broker an active He is also the Atlanta Commercial Board of Realtors. graduatedMichael College from the Terry of Business at the University of earning Georgia Estate and International three degrees Real in Finance, also earned Michael a minor in Spanish while participating on the Business. In his free time Michael organizations. philanthropic rugby team and various hiking and camping. traveling, enjoys advisory leasing and firm sales, is a commercial real estate Bull Realty licensed in ten southeast states headquartered in Atlanta. The firm was founded twenty primaryyears ago a company of with two missions: to provide advisors known in the nation. for their integrity the best disposition marketing and to provide BROKER PROFILE PROFILE BROKER
|PAGE 12 OF 13 |PAGE 13 OF 13 TEAM PROFILE TEAM
Michael Wess Michael x 150 404-876-1640 [email protected] MICHAEL WESS MICHAEL JACKSON SCOTT Analyst Associate, National Retail Group Retail National Associate, MICHELLE MEHRJERDIAN Marketing RICK LEWIS Marketing