Distillery District Lexington, Ky
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MIXED-USE DEVELOPMENT OPPORTUNITY 10 ACRES – DISTILLERY DISTRICT LEXINGTON, KY February 2019 GREYSTONE REAL ESTATE ADVISORS JEFF STIDHAM Where People Matter [email protected] 859.221.1771 PROPOSED APARTMENTS APPROX. 250 UNITS “For Illustrative Purposes Only” MIXED-USE DEVELOPMENT OPPORTUNITY IN THE DISTILLERY DISTRICT OF LEXINGTON, KY PROPOSED SELF-STORAGE MIXED-USE COMPONENT OFFICE | RETAIL | SELF-STORAGE “For Illustrative Purposes Only” MIXED-USE DEVELOPMENT OPPORTUNITY IN THE DISTILLERY DISTRICT OF LEXINGTON, KY GREYSTONE REAL ESTATE ADVISORS DISTILLERY DISTRICT MIXED-USE DEVELOPMENT Lexington, KY OPPORTUNITY LEXINGTON CONVENTION CENTER CENTRAL BUSINESS DISTRICT TOWN BRANCH PARK DISTILLERYDISTILLERY COORDINATED PUBLIC SPACE DISTRICTDISTRICT DEVELOPMENT PROJECT TOWN BRANCH TRAIL RUPP ARENA KRIKORIAN PREMIERE MANCHESTER THEATRE & BOWLING DEVELOPMENT 34 TOWNHOMES - UNDER CONSTRUCTION SUBJECT SITE 524/525 ANGLIANA STUDENT HOUSING THE LEX STUDENT HOUSING 3 MILE AERIAL SNAPSHOT RED MILE THOROUGHBRED HORSE UNIVERSITY OF RACING KENTUCKY 1.5 MILES EXECUTIVE SUMMARY A Mixed-Use Development Opportunity on Approx. 10 Acres Located In Lexington, Kentucky’s Historic Distillery District. The Proposed Mixed-Use Development Will Contain A 250 Unit (Approx.) Apartment Community With Surface Parking, As Well As An Office And Retail Component. The Site Is Also Home To The Historical William McConnell House, One Of Lexington’s Most Important And Oldest Buildings. It Was Home To William McConnell, Who Was One Of Lexington’s Original Founders. This Proposed Plan Is Preliminary And Can Be Amended - The Offering Price For The Property Is $430,000/Acre. Address 375 Lisle Industrial Avenue Acreage Approximately 10 Acres Lexington, KY Proposed Plan Mixed-use (Apartments//Self-Storage/Office/Retail) PRELIMINARY DEVELOPMENT PLAN Filed 1/25/19 – Can be amended MIXED-USE APARTMENTS GREYSTONE REAL ESTATE ADVISORS 836 Euclid Avenue, Suite 312 Lexington, KY 40502 Phone: 859.221.1771 www.greycoadvisors.com Main Street TRANSYLVANIA UNIVERSITY 2.5 MILES JAMES PEPPER DISTILLERY RE-DEVELOPMENT 200,000 SQ. FT. - OFFICE SUITES, RETAIL, RESIDENTIAL CONDOS Manchester Street Old Frankfort Pike UNIVERSITY OF KENTUCKY 1.5 MILES PROPOSED RESTAURANTS 2 MILE AERIAL & RETAIL SHOPPING SNAPSHOT SUBJECT SITE GREYSTONE REAL ESTATE ADVISORS 836 Euclid Avenue, Suite 312 Lexington, KY 40502 Phone: 859.221.1771 www.greycoadvisors.com FUTURE RESTAURANT & RETAIL DEVELOPMENT SUBJECT SITE HISTORY – DISTILLERY DISTRICT Shortly After The End Of The Civil War, The Headley And Farra Company Established A Distillery In Lexington On Old Frankfort Pike, Now Called Manchester Street. In 1879, The James E. Pepper Distillery Took Ownership Of The Site. The Pepper Distillery Constructed New Buildings After The Former Structures Were Destroyed In A Fire. Between 1880 And 1901, The Company Built Six Warehouses With The Capacity To Store Nearly 50,000 Barrels Of Whiskey. Around The End Of The Nineteenth Century, They Sold Whiskey To More Than Ninety Brokerage Houses Around The United States. PEPPER DISTILLERY 1884 During Prohibition (1920-1934), The Distillery Was Abandoned And The Company’s Warehouses Were Changed Into Locked Storage For Whiskey Stockpiles From Multiple Distilleries Around The Area. This Method Helped Prevent The Common Occurrence Of Thefts From Small, Rural Distilleries. Just Before The End Of Prohibition In 1933, The James E. Pepper Distillery Sold Their Company To Schenley Products Corporation Of New York. In 1934, Several Buildings On The Site Were Destroyed By A Massive Fire, But The Company Quickly Rebuilt New Structures. Whiskey Continued To Be Made On The Site Until 1962. The Company Still Used The Warehouses For Storage Until 1976. Finally, Schenley Products Sold The Property In 1977. PEPPER DISTILLERY 1936 In 2014 Portions Of The Distillery Property Were Sold To Local Lexington Entrepreneurs, And The Power Of Small Business And The People Of Lexington Began To Make Something Magical Happen At The Old Distillery In The Form Of An Entertainment District With Restaurants, Breweries, Bars, And More. On May 4, 2016, After Years Of Work And With Great Pleasure, It Was Happily Announced That James E. Pepper Would Be Rebuilding A Craft Distillery And Museum In The Remains Of The Historic James E. Pepper Distillery. PEPPER DISTILLERY 2017 PEPPER DISTILLERY RENOVATIONS DISTILLERY DISTRICT – RESTAURANTS & BUSINESSES CRANK & BOOM ELKHORN TAVERN ETHEREAL BREWING MANCHESTER MUSIC HALL GOODFELLAS THE BURL GRAND RESERVE AT BARREL HOUSE MIDDLE FORK KITCHEN THE BREAK ROOM DISTILLERY DISTRICT – RESTAURANTS & BUSINESSES PEPPER DISTILLERY BURN BOOTCAMP BATTLE AXES THE BURL ARCADE FUSION BREWING OCULUS STUDIOS LEXINGTON OVERVIEW Quality of life is notoriously hard to put a number on, but Lexington is consistently recognized as being one of the best cities to live in. Lexington ranked #7 most affordable big city in America by Kiplinger in 2014 and last year Lexington was ranked #16 best large city to live in by Wallet Hub. This year Wallet Hub ranked it #4 best-ran city in America. Millennials now represent the largest generation in the Bluegrass Region, comprising over one-third (36%) of the total population in 2013. What's more, the largest age cohort is now 20 to 24 years old, meaning that the millennial generation will continue to be a Sizeable part of our regional population for many years For the younger generation, Lexington was ranked #6 most inspiring city for young artists by World Wide Learn and #17 best college town by the American Institute for Economic Research. Current and aspiring business professionals will appreciate that Forbes ranked Lexington #16 best place for business and careers in 2015 and the University of Nebraska-Lincoln ranked Kentucky the #4 best state for entrepreneurial activity. And those enjoying retirement will be happy to know that Time Magazine ranked Lexington among the top five best places to retire in 2014. GREYSTONE REAL ESTATE ADVISORS 836 Euclid Avenue, Suite 312 Lexington, KY 40502 DISTILLERY DISTRICT APARTMENT DEVELOPMENT Phone: 859.221.1771 www.greycoadvisors.com OPPORTUNITY ADJACENT TO TOWN BRANCH TRAIL Town Branch Trail (TBT) is a shared-use greenway trail (paved route for pedestrians and bicyclists) that will connect Downtown Lexington with Masterson Station Park and the Distillery District, along with area neighborhoods, other parks, and historic sites as it follows the westward course of Lexington’s historic waterway, the Town Branch of Elkhorn Creek. The trail is a significant component of Lexington’s Bike and Pedestrian Plan (a broad network of bike facilities and trails planned for Fayette County). The trails are part of the $40 million Town Branch Commons project, which has recently broken ground. Subject Site TBT seeks to transform neglected or underu3lized urban areas along our historic creek into a landscaped trail that will serve among other things: - Recreaon, Commu3ng, Environment, Tourism, Businesses TOWN BRANCH PARK - Great lawn - Water & woodland play - Dog park - Trails - Creeks, waterfalls - Performance stage GREYSTONE REAL ESTATE ADVISORS 836 Euclid Avenue, Suite 312 Lexington, KY 40502 Phone: 859.221.1771 www.greycoadvisors.com GREYSTONE REAL ESTATE ADVISORS 836 Euclid Avenue, Suite 312 TOWN BRANCH TRAIL Lexington, KY 40502 Phone: 859.221.1771 www.greycoadvisors.com CONNECTING LEXINGTON Town Branch Park, located adjacent to a remodeled Lexington Convention Center, is a central park that will become Lexington’s premier public space and the centerpiece of Lexington. The park will include a diverse set of features that will serve everyone. While the design is still underway, it is anticipated that the park will include a large event lawn and amphitheater, children’s play areas, dining options, an extended Town Branch stream channel and much more. The park will be both a green oasis in Downtown Lexington and an active space that will serve all types of users. Located along the historic path of Town Branch creek, Town Branch Greenway is an urban greenway that will connect new and existing downtown parks and two trail systems, creating more than 22 miles of protected bike and pedestrian paths. PROFESSIONAL BACKGROUND JEFF STIDHAM IS A MANAGING DIRECTOR BASED OUT OF LEXINGTON, KENTUCKY. JEFF HAS BEEN ACTIVELY INVOLVED IN COMMERCIAL REAL ESTATE BROKERAGE AND DEVELOPMENT FOR 35 YEARS. HE FOUNDED STIDHAM COMMERCIAL PARTNERS, WHICH GREW FROM ITS ORIGIN AS A WASHINGTON DC BASED COMMERCIAL BROKERAGE COMPANY INTO A DIVERSIFIED NETWORK OF INTERRELATED COMPANIES AND VETERAN BROKERS. JEFF ENJOYS A REPUTATION AS A SKILLFUL INVESTMENT SALES BROKER AND CONSULTANT. HIS TEAM IS WELLKNOWN FOR PREDEVELOPMENT CONSULTING AND BROKERAGE SERVICES, TENANT/BUYER REPRESENTATION, TRANSACTION STRUCTURING, AND STRATEGIC SITE AND ASSET IDENTIFICATION AND ACQUISITION. HE AND HIS TEAM HAVE EXTENSIVE EXPERIENCE IN ACQUISITION AND DISPOSITION OF REAL ESTATE ASSETS FOR NATIONAL CORPORATE ACCOUNTS AND PRIVATE OWNERS. JEFF’S BROKERAGE TEAM HAS CLOSED IN EXCESS OF $150 MILLION IN APARTMENT SALES IN THE PAST FIVE YEARS. APARTMENT LAND SALES TRANSACTIONS HAVE TOTALED MORE THAN 2,000 UNITS. DEBT AND EQUITY PLACEMENT EXCEEDED $125 MILLION IN 2016. JEFFREY R. STIDHAM JEFF HAS BEEN CONSISTENTLY RANKED AS A LEADER AND TOP PRODUCER WITHIN THE COMMERCIAL REAL MANAGING DIRECTOR ESTATE COMMUNITY. HIS PRESTIGIOUS CLIENT LIST INCLUDES NUMEROUS FORTUNE 500 COMPANIES AS M | 859.221.1771 WELL AS MANY WELL-KNOWN NATIONAL, REGIONAL AND LOCAL COMPANIES. [email protected] .