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Home , Gem Theatre, Little Caesars Arena, Orchestra Hall (Detroit)

OPPORTUNITY ZONE

45,094 SQUARE FEET WAREHOUSE BUILDING OFFERING MEMORANDUM TABLE OF

EXECUTIVE 03 SUMMARY

PROPERTY 09 SUMMARY

REGIONAL 12 OVERVIEW

AGENT 16 REPRESENTATION EXECUTIVE PROPERTY

45,094 TOTAL SQUARE FEET

$550,000 SALE PRICE

TWO STORIES

1.60 ACRES TOTAL PROPERTY SIZE

19 FOOT CEILING HEIGHT

45,094 SF AVAILABLE

CBD PONTIAC LOCATION The

Colliers International has been retained as the exclusive advisor for the disposition of 49730 Woodward Avenue in Pontiac, (the “Property”). The Property consists of two parcels, both with significant frontage along Woodward Avenue, that offer a total of 1.6 acres and 45,094 square feet of warehouse space. The southernmost parcel consists of 1.22 acres and is host to a 45,094 square foot industrial warehouse facility. The two-story building offers ceiling heights of 19 feet, three exterior truck docks, and a 12 foot by 14 foot overhead door. Currently 100% vacant, the space is well positioned for either a user purchase or a redevelopment, given its strategic location to the city’s downtown core. Across the street and directly north, the Property’s second parcel offers 0.38 acres of buildable land. Zoned C-2, commercial and mixed use projects are possible on the parcel. The site is situated at the convergence of Woodward Avenue and Cass Avenue, providing high visibility for a potential development. The Property’s Woodward Avenue location, which loops around downtown Pontiac, creates a unique opportunity for future ownership to capitalize on the renewed investment interest within downtown Pontiac. Most notably, mortgage giant United Shore relocated it’s corporate headquarters from Troy to Pontiac. The $69 million dollar project will result in 2,900 jobs for the city, with the company taking occupancy of its newly renovated building in June of 2018. Furthermore, MadDog Technology, a tech driven venture capital operator, announced that it would relocate three start-up companies to downtown Pontiac and create more than 100 jobs. KEY PROPERTY INFORMATION A multitude of other projects are either planned or in progress within Pontiac’s limits, largely driven by the substantial momentum in greater Oakland County. In ADDRESS 49730 Woodward Avenue 2017, Oakland county set a single-year record with over $1 billion of new investment. The pace has continued into 2018, with over $140 million invested into TOTAL SIZE 45,094 Square Feet the county over the course of January and February. OCCUPANCY 100% Vacant The positive effect of this influx of capital is reflected when evaluating key market indicators. Both Pontiac’s industrial and office markets have seen significant 64-14-29-402-005 PARCELS improvement over the course of the past four years. Since 2014, the submarkets 64-14-29-401-009 11.5 million square feet of industrial product experienced a 10% decrease in vacancy to a current rate of 8.2%, with rents growing from $3.60 to $6.03. The 4.3 YEAR BUILT/RENOVATED 1962 million square feet of office space in the submarket has experienced similar TOTAL ACREAGE 1.60 acres improvement over the same period of time, with vacancies decreasing 6.7% to a rate of 11.1% and rents increasing $2.08 per square foot to $16.21. The

EXECUTIVE SUMMARY 6 The

EXECUTIVE SUMMARY 7 PROPERTY

The downtown Pontiac location of 49730 Woodward Avenue centrally positions the building within the greater Metro- region. The Property is 15 minutes from Oakland County International Airport, approximately 40 minutes from Detroit Metropolitan Airport (DTW), 10 minutes from Auburn Hills, and 40 minutes from Ann Arbor.

I-75 is easily accessible from the Property opening up the connection to I-96, and I-94. Woodward Avenue continues all the way south to CBD Detroit and encircles all of downtown Pontiac. The Property is on the western edge of downtown and near the only residential section of the cities CBD.

Access to the building is via two curb cuts along Woodward Avenue at the north and south end of the Property. The north side is an overhead door entrance with the southside acting as a parking lot and truck entrance. Proximity to the resurging Pontiac will be a positive in years to come.

EXECUTIVE SUMMARY 8 PROPERTY The

PROPERT SUMMARY 10 The

PROPERTY SUMMARY 11 REGIONAL

Metro Detroit has an extensive toll-free expressway system administered by the Michigan Department of Transportation. The highway network is built and maintained to support industrial use. The Detroit region’s transportation infrastructure is world class with six international border crossings, making it one of the largest foreign trade zones in North America. Detroit Metro Airport is the 10th busiest airport in the and is a well-developed, intermodal facility. The Detroit region ranks as the fifth most robust transportation infrastructure in the United States and benefits from four major Interstate Highways surround the city. The region is supported by six interstates, I-94, I-75, I-275, I-69, I-96 and I- 696. I-75 reaches from the Upper Peninsula to the tip of Florida. Detroit is connected via I-75 and I-96 to Kings Highway 401 and to major Southern Ontario cities such as London, Ontario and the Greater * M - 10(SOUTHFIELD FREEWAY) Toronto Area. I-94 runs east-west through Detroit, serving Ann Arbor to the west, continuing further west to Chicago and to Port Huron to the northeast. The stretch of the current I-94 freeway from Ypsilanti to Detroit was one of America’s earliest limited-access highways. Henry Ford built it to link the factories at Willow Run and Dearborn during the World War II. I-96 runs northwest-southeast through Livingston, Oakland and Wayne Counties and (as the Jeffries Freeway through Wayne County) has its eastern terminus in downtown. In addition to the interstates, the region is supported by 24 highways and 21 state routes. The well-routed transportation throughout the state via road and air is additionally complemented by the four major Class I Railroads. Both the lower and upper peninsulas are served by the four Class I railroads, which include the Canadian National Railway, CSX Transportation, Norfolk Southern Railway and Consolidated Rail Corporation. Michigan’s rail system is extensive and ranks 12th nationally among the 50 states. Michigan’s most valuable rail movement commodity is transportation equipment and is followed by mixed shipments, metal products and chemical products. The newly minted Q-Line, also known as the Woodward Street Car opened in May of 2017 to a fantastic crowd. The light rail cars runs *Q- LINE DETROIT from Campus Martius to the New Center District and has provided a much needed public transportation system up and down Woodward REGIONAL OVERVIEW 13 Avenue. Metro Detroit

Live music has been a prominent feature of Metro Detroit’s nightlife since the late 1940’s, bringing the city recognition under the nickname “Motown”. The metropolitan area has many nationally prominent live music venues. Large concerts are held at DTE Energy Music Theater, , and Arena. The city’s theatre venue circuit boasts Broadway performances and is the United States’ second largest. Major theaters include the (5,174 seats), Detroit Music Hall (1,770 seats), the (451 seats), Masonic Temple Theatre (4,404 seats) the (2,765 seats), the Fisher Theatre (2,089 seats), (2,200 seats), St. Andrews Hall, the Majestic Theatre, and (2,286 seats). Orchestra Hall hosts the renowned Detroit Symphony Orchestra.

Many of the area’s prominent museums are located in the historic cultural center neighborhood located within close proximity to and the College for Creative Studies. These museums include the Detroit Institute of Arts, the Detroit Historical Museum, the Charles H. Wright Museum of African American History, the Detroit Science Center, as well as the main branch of the . Other cultural highlights include Motown Historical Museum, the studio and school, the Tuskegee Airmen Museum, Fort Wayne, the Dossin Great Lakes Museum, the Museum of Contemporary Art Detroit (MOCAD), the Contemporary Art Institute of Detroit (CAID) and the Belle Isle Conservatory.

Detroit is the only American metropolitan area that is home to professional teams representing the four major sports in North America. Beginning in 2017 all four professional sports teams have stadiums in . The three stadiums located downtown include: , home of the MLB’s ; Ford Field, home of the NFL’s ; and the recently completed , home of the NHL’s and NBA’s .

Other notable entertainment events that occur in and around the Metro Detroit area include air shows, regattas hosted at local yacht clubs, speed boat racing and other events centered around the fact that Detroit is the automotive capital of the world. Cobo Hall hosts the North American International Auto Show which boasts representation from almost 2,000 companies. Over 5,000 journalists from 60 countries attend the event with more than 500 vehicles on display each year. * Ford Field, Comerica Park, Little Caesars Arena REGIONAL OVERVIEW 14 AGENT FOR MORE

PAUL GYARMATI Vice President 248 226 1618 [email protected]

PETER J KEPIC, SIOR Senior Vice President 248 226 1842 [email protected]

PETER E KEPIC, SIOR Principal 248 226 1840 [email protected]