Eagles Landing
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PROPERTY VIDEO EAGLES LANDING EAGLES LANDING E XCHANGE 1001 EAGLES LANDING PKWY | STOCKBRIDGE, GA 30281 (Atlanta MSA) OFFERING MEMORANDUM ™ 1 EAGLES LANDING EAGLES LANDING E XCHANGE 6 PROPERTY OVERVIEW 8 FINANCIAL OVERVIEW 12 AREA OVERVIEW 16 TENANT OVERVIEW ANDREW GROSS Senior Associate Capital Markets ™ BROKER OF RECORD KYLE MATTHEWS D: (214) 295-4511 License No. 67120 (GA) M: (435) 659-1404 E: [email protected] License No. 01987860 (CA) 2 EAGLES LANDING PROPERTY NET LIST PRICE CAP RATE ADDRESS RENTABLE AREA 1001 Eagles Landing Pkwy ±8,900 SF $4,250,000 6.45% Stockbridge, GA INVESTMENT HIGHLIGHTS Perfectly situated in the heart of one of the region’s strongest medical districts, across from the Regional Hospital – Piedmont Henry (more than 1,600 employees and medical staff over 700 physicians). The tenant lineup conveniently serves the area as a “Restaurant Hub” with with growing corporate and franchisee operators : Moe’s Southwest Grill (20 Locations) , Jersey Mike’s (6 Locations), @ Nail Bar (8 Locations) and Chicken Salad Chick (Corporate Guarantee). Huge Traffic Counts on the main corridor of Eagles Landing Pkwy ( VPD: 20,000) and just off of I -75 ( VPD: 18,000) High-Income area – property is about 0.5 miles from Eagles Landing Country Club - including 27 holes of championship golf Phenomenal retail synergy – property surrounded by major national tenants including Starbucks, Chick-fil-a, BB&T, Mellow Mushroom, QuikTrip, McDonald’s, Bank of America, Walmart Supercenter, Wendy’s, Dairy Queen, Zaxby’s, Firehouse Subs., Texaco, Waffle House, KFC, Walgreens and more Stockbridge is one of the fastest growing cities in the Atlanta metropolitan, experiencing 12.57% growth over the last 5 years and projected to grow near 11% from 2017 – 2022. Perfect for local and out of state investors – this property is just 20 miles from Atlanta Hartsfield Jackson airport – the busiest airport in North America with about 102,00,000 passengers! High-quality construction – the property offers brand new, premium construction with state-of-the-art architecture and beautiful aesthetic Very attractive lease structure - all four tenants are on brand new long term, 10-year NNN leases with increases throughout the base terms & minimal landlord responsibilities 3 EAGLES LANDING SURROUNDING AREA MAPS EAGLES LANDING PKWY ±20,000 VPD EAGLES LANDING COUNTRY CLUB SUBJECT PROPERTY EAGLES LANDING PHARMACY 4 EAGLES LANDING VENTURE PHYSICAL THERAPY EAGLES LANDING PHARMACY EAGLES LANDING SUBJECT PKWY PROPERTY ±20,000 VPD 5 EAGLES LANDING HENRY PEDIATRICS SUBJECT PROPERTY EAGLES LANDING PHARMACY VENTURE PHYSICAL THERAPY EAGLES LANDING PKWY ±20,000 VPD 6 EAGLES LANDING EAGLES LANDING E XCHANGE PROPERTY OVERVIEW 7 EAGLES LANDING PHYSICAL DESCRIPTION PROPERTY NET TOTAL CURRENT AVERAGE TERM APN ADDRESS RENTABLE AREA TENANTS OCCUPANCY REMAINING 1001 Eagles Landing Pkwy ±8,900 SF 4 100.0% 10.1 Years 051-01008000 Stockbridge, GA PARCEL MAP 9 8 EAGLES LANDING SUBJECT PROPERTY EAGLES LANDING PKWY ±20,000 VPD I-75 ±18,000 VPD EAGLES LANDING COUNTRY CLUB 9 EAGLES LANDING EEAGLESXCHANGE LANDING ANDING L AGLES E XCHANGE E EAGLES LANDING E XCHANGE FINANCIAL OVERVIEW 10 EAGLES LANDING VALUATION SUMMARY PRICING SUMMARY: List Price $4,250,000 Price PSF ($) $478 RETURNS SUMMARY: In Place Cap Rate 6.45% Financial: Year 1 NOI $273,895 Net Rentable Area +/-8,897 In Place Occupancy 100.0% RENT ROLL Lease Lease Square Contract Rental Rate Rent $ PSF Rent Increases Suite Tenant % of GLA Options Start End Feet Year Month $ PSF/Yr. $ PSF/Mo. Date $ PSF/Yr. $ PSF/Mo. Moe's Feb-24 $33.00 $2.75 2x5 years: (1) $39.60 PSF. 1 Feb-19 Feb-29 2,300 SF 25.8% $69,000 $5,750 $30.00 $2.50 Southwest Feb-29 $36.30 $3.03 (2) $43.56 PSF. 2x5 years: (1) $29.04 PSF. 2 Jersey Mike's Feb-19 Feb-29 1,500 SF 16.9% $46,500 $3,875 $31.00 $2.58 Feb-24 $34.10 $2.84 (2) $31.94 PSF. 2x5 years: (1) $32.67 PSF. 3 Nail Bar Feb-19 Feb-29 2,500 SF 28.1% $67,500 $5,625 $27.00 $2.25 Feb-29 $29.70 $2.48 (2) $35.94 PSF. Chicken Salad 2x5 years: (1) $42.35 PSF. 4 Feb-19 Feb-29 2,597 SF 29.2% $90,895 $7,575 $35.00 $2.92 Feb-24 $38.50 $3.20 Chick (2) $46.59 PSF. Occupied Totals - In Place 8,897 SF 100.0% $273,895 $22,825 $123.00 $10.25 Vacant Totals 0 0.0% $0 $0 $0.00 $0.00 Totals 8,897 SF 100.0% $273,895 $22,825 $123.00 $10.25 11 EAGLES LANDING SUMMARY TENANT PROFILE Lease Tenant Name Square Feet In-Place Rent % of Revenue Tenant Type Credit Expiration Moe's Southwest 2,300 Feb-29 $69,000 25.2% Restaurant Local/Regional Jersey Mike's 1,500 Feb-29 $46,500 17.0% Restaurant Local/Regional @ Nail Bar 2,500 Feb-29 $67,500 24.6% Shops Local/Regional Chicken Salad Chick 2,597 Feb-29 $90,895 33.2% Restaurant Local/Regional Grand Total 8,897 $273,895 100% INCOME AND EXPENSES Year 1 Total $/SF Income Rental Income $273,895 $50.89 Other Income $0 - Vacancy Factor $0 - Reimbursement Revenue $40,255 $7.48 Effective Gross Income $314,150 $58.37 Expenses Real Estate Taxes $20,029 $3.72 Insurance $1,308 $0.24 CAM $13,854 $2.57 Management Fees $5,064 - EGI (%) Administrative / Professional Fees $0 - Total Operating Expense $40,255 $7.48 Net Operating Income $273,895 $50.89 12 EAGLES LANDING 13 EAGLES LANDING EEAGLESXCHANGE LANDING EAGLES LANDING E XCHANGE AREA OVERVIEW 14 EAGLES LANDING STOCKBRIDGE, GEORGIA LOCATION MAP The City of Stockbridge is located in the northern part of Henry County, Georgia with close proximity to I-75 as well as I-675. The county has an area of approximately 331 square miles located in the Piedmont Section of northern Georgia and is surrounded by the counties of Butts, Clayton, Dekalb, Newton, Rockdale and Spalding Counties. Conveniently located 20 miles south of Atlanta and 12 miles east of the Atlanta Hartsfield-Jackson International Airport, Stockbridge is often recognized as the gateway to Henry County. Supportive economic development, excellent public services and fabulous small-town hospitality are all reasons why Stockbridge continues to enjoy tremendous growth. DEMOGRAPHICS Population 1 Mile 3 Mile 5 Mile 2023 Projection 5,887 48,423 101,473 2018 Estimate 5,343 43,866 91,982 2010 Census 4,746 39,733 82,280 Growth 2018-2023 10.18% 10.39% 10.32% Growth 2010-2018 12.57% 10.40% 11.79% Households 1 Mile 3 Mile 5 Mile 2023 Projection 2,356 17,13 4 35,559 2018 Estimate 2,224 16,202 33,771 2010 Census 1,940 14,422 29,781 Growth 2018-2023 5.94% 5.76% 5.30% Growth 2010-2018 14.63% 12.34% 13.40% Income 1 Mile 3 Mile 5 Mile Average Household Income $67,771 $85,803 $82,623 Median Household Income $54,893 $66,429 $65,601 15 EAGLES LANDING ATLANTA, GEORGIA Atlanta is the capital of and the most populous city in the U.S. state of Georgia, the cultural and economic center of the Atlanta metropolitan area, and the ninth largest metropolitan area in the United States. Atlanta is an “alpha-” or “world city”, exerting a significant impact upon commerce, finance, research, technology, education, media, art, and entertainment. It ranks 36th among world cities and 8th in the nation with a gross domestic product of $270 billion. Atlanta’s economy is considered diverse, with dominant sectors including logistics, professional and business services, media operations, and information technology. 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 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, Chick-fil-A, 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. Atlanta is home to professional franchises for three major team sports: the Atlanta Braves of Major League Baseball, the Atlanta Hawks of the National Basketball Association, and the Atlanta Falcons of the National Football League. Due to the more than 30 colleges and universities located in the city, Atlanta is considered a center for higher education. 16 EAGLES LANDING ATLANTA ECONOMY Atlanta’s economy is considered diverse, with dominant sectors including logistics, professional and business services, media operations, and information technology. Corporate operations comprise a large portion of 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, Chick-fil-A, UPS, and Newell- Rubbermaid. 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. ATLANTA TOURISM Atlanta is one of the most visited cities in National Historic Site, which includes the in Grant Park, accommodates over 1,300 America, with over 37 million visitors per year.