Milton, Georgia • Investment Opportunity
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MILTON, GEORGIA • INVESTMENT OPPORTUNITY CHILDREN’S LEARNING ADVENTURE/ / EXECUTIVE SUMMARY EXECUTIVE SUMMARY EXECUTIVE INVESTMENT INVESTMENT OVERVIEW HIGHLIGHTS 2 LOCATION NEC of Cogburn Rd & Webb Rd 13175 Cogburn Road • Brand New Free Standing Single Tenant Asset with Annual Rental Rate Increases Throughout Milton, GA 30004 Entire 20 Year Lease Term ±28 Miles North from Atlanta CBD • Absolute NNN Lease with NO Landlord Responsibilities NOI $963,069 • Astounding 89% Growth in Population Over the Last Decade | Projected an Additional 11.3% PRICE $13,280,000 within a One-Mile Radius by 2020 CAP RATE 7.25% • Located Less than Half a Mile from the Area’s Leading Retail Corridor |Over 144,000 Residents and Household Incomes exceeding $124,000 within a Five-Mile Radius LAND AREA ±3.56 Acres • Atlanta MSA is One of the Fast Growing MSAs in the United States | Current Population is BUILDING AREA ±25,737 SF estimated at 5.57 Million Residents, an increase over 81% since 1990 PLAYGROUND AREA ±30,000 SF • Strategic Site Location & Layout | Flexible Design for Future Uses PARKING 51 Spaces (1.7/1,000 SF) YEAR BUILT 2015 LOCATION MAP TYPE OF OWNERSHIP Fee-Simple TENANT CLA Milton, LLC LEASE TYPE Absolute NNN ROOF AND STRUCTURE Tenant Responsible RENT COMMENCEMENT July 2015 LEASE EXPIRATION July 2035 TERM REMAINING ON LEASE 20 Years DEBT Available for New Market Rate Financings OPTIONS Four Five Year Options RENT INCREASES 1.25% Annually Throughout Lease Term RENEWAL OPTIONS Years 21-25 $1,234,690 (1.5% Annual Increases) Years 26-30 $1,313,811 (1.5% Annual Increases) Years 31-35 $1,398,003 (1.5% Annual Increases) Years 36-40 $1,487,590 (1.5% Annual Increases) CHILDREN’S LEARNING ADVENTURE/ / PROPERTY OVERVIEW SITE PLAN PROPERTY OVERVIEW PROPERTY 3 D Cogburn Road | 10,621 VP Webb Road Shadow Creek Parkway CHILDREN’S LEARNING ADVENTURE/ / TENANT PROFILE TENANT OVERVIEW Children’s Learning Adventure offers the highest quality Infant, Preschool, After-school, and Summer Camp Programs for children. The company has high-quality programs that utilize research-based materials and Educational Specialists who provide guidance and monitoring of the program. Children’s Learning Adventure offers TENANCY specialized learning areas with curriculum specifically designed to utilize these unique areas. The facilities contain amazing indoor amenities, expansive outdoor playgrounds and specialized classrooms to help enhance the children’s learning ability. 4 Children’s Learning Adventure provides learning and care for infants from six weeks of age to preschool, Private Kindergarten, and provides before and after school programs for children up to twelve years. Transportation to and from local elementary schools is provided. Summer and holiday camps, specially designed with enrichment learning opportunities, are available for the school age child. CHILDREN’S LEARNING ADVENTURE/ / LOCATION OVERVIEW DEMOGRAPHICS DESCRIPTION 1 MILE RADIUS 3 MILE RADIUS 5 MILE RADIUS LOCATION POPULATION 2020 Projection 9,413 57,777 144,300 2015 Estimate 8,461 52,779 132,641 OVERVIEW 2010 Census 7,265 46,665 119,050 2000 Census 3,836 30,687 84,608 HEART OF ATLANTA’S AFFLUENT NORTHERN SUBURBS Growth 2015-2020 11.3% 9.5% 8.8% Situated in North Fulton County, Children’s Learning Adventure enjoys a strategic location in the heart of Atlanta’s affluent northern suburbs. It is located east of GA 400 at the intersection of Cogburn Road and Webb Road, just east Growth 2010-2015 16.5% 13.1% 11.4% of Alpharetta Highway (GA Highway 9) in the City of Alpharetta. Both GA Highways 9 and 120 provide access to GA Growth 2000-2010 89.4% 52.1% 40.7% Highway 400 and serve as major commercial arteries to the surrounding area. GA 400 is the main north-south artery HOUSEHOLDS serving Georgia’s central corridor and connecting the northern suburbs with central Atlanta. The submarket boasts 2020 Projection 3,846 22,500 52,817 strong demographics with nearly 53,000 residents living in a 3-mile radius of the Property and an average household 2015 Estimate 3,479 20,663 48,703 income of over $112,000. 2010 Census 3,024 18,463 43,978 BEST PLACE TO LIVE IN METRO ATLANTA 2000 Census 1,600 12,267 31,437 New residents are attracted to Alpharetta for its excellent quality of life, strong education systems, nationally ranked Growth 2015-2020 10.6% 8.9% 8.5% healthcare systems, and proximity to major employment centers. U.S. News ranks Alpharetta among the top places Growth 2010-2015 15.0% 11.9% 10.7% to retire in the America. In 2009, Forbes ranked Alpharetta the #1 Best Place to Move. Growth 2000-2010 89.0% 50.5% 39.9% LEADING EDUCATION SYSTEM INCOME North Fulton boasts nationally recognized public schools, world-class private schools, and many institutions for 2015 Est. Average Household Income $106,357 $112,471 $124,643 higher education. Of Atlanta Magazine’s “Best High Schools” in Atlanta, four North Fulton high schools were ranked 2015 Est. Median Household Income $80,875 $83,995 $90,722 “Top All-Around.” The list includes Alpharetta High School, Milton High School, North Springs Charter High School, and Northview High School. Institutions of higher education include satellite campuses for Georgia State University HOUSING VALUE and Reinhardt University, both located in Alpharetta. 2015 Est. Median Housing Value $250,545 $280,507 $334,341 © 2015 The Nielsen Company. All rights reserved. EMPLOYMENT MECCA North Fulton County is headquarters to three Fortune 500 companies: First Data Corporation, Newell Rubbermaid, UPS; and two Fortune 1000 companies: Exide Technologies and Global Payments, Inc. Major regional operations for Milton, GA at least 16 Fortune 500 companies are also located in the County. More specifically, the City of Alpharetta is home to nearly 9,500 businesses, including some of Atlanta’s top employers such as ADP, Verizon, Comcast, UPS, Hewlett Packard, Equifax, E-Trade, and Coca-Cola. Due to the concentration of employers located in Alpharetta, the City’s workday population is approximately 28% higher than the City’s residential population. CHILDREN’S LEARNING ADVENTURE TRADE AREA The Children’s Learning Adventure trade area is approximately a 3-mile radius surrounding the Property. Major roadways feeding the trade area include GA Highway 400 to the west, which runs in a north/south direction and LOCATION provides access to downtown Atlanta; Old Milton Parkway (GA Highway 120), which runs east/west and provides access to GA 400 and downtown Alpharetta; and Alpharetta Highway (GA Highway 9) to the east, which runs north/ south and is a main commercial thoroughfare connecting the Atlanta Metro to the north Atlanta suburbs of Sandy Springs, Roswell, Alpharetta, and Milton. Within a 3-mile trade area of the Property, the estimated population is 52,779 residents, which represents an increase of 72% since 2000. Additionally, the trade area’s average household 5 income of $112,471 is more than 51% higher than the current national average of $74,165. CHILDREN’S LEARNING ADVENTURE/ / LOCATION OVERVIEW AERIAL PHOTOGRAPH N Williamsburg Turner McDonald Parkway Arbors at Henderson Henderson Place Deerfield Windward Parkway Professional Center Highway 9 Highway 9 Cogburn Road Hopewell Middle School LOCATION 6 CHILDREN’S LEARNING ADVENTURE/ / LOCATION OVERVIEW AERIAL PHOTOGRAPH N Villages of Devinshire Deerfield Green Highway 9 Godburn Woods Elementary School Hopewell Middle School LOCATION Winward Parkway 7 CHILDREN’S LEARNING ADVENTURE/ / LOCATION OVERVIEW ECONOMIC ENGINE OF THE SOUTHEAST Metro Atlanta is the population, employment, and transportation center of the Southeast, and it represents the ninth largest metro area in the United States. Atlanta’s exceptional quality of life, low cost of living, diverse job opportunities, educational infrastructure and cultural amenities has helped it become the one of the fastest-growing areas in the United States over the last two decades. Although Atlanta was hit hard by the recession, it has regained traction with renewed job growth. In fact, in 2014, Atlanta added 64,700 jobs and Marci Rossell, former chief economist with CNBC, projects Atlanta to add up to 140,000 jobs in 2015. Business Locations, Atlanta has the lowest relative business costs among the nation’s major cities with Atlanta is home to sixteen (16) Fortune 500 companies, which is third among U.S cities, behind only New over 2 million residents. In addition, Georgia’s corporate tax rate is just 6% and hasn’t changed for more York (42) and Houston (23). Atlanta will be home to 17 Fortune 500 companies once PulteGroup completes than 25 years. their move to the metro. Furthermore, more than 75% of Fortune 1000 companies have operations within Atlanta and its well-educated workforce are well-positioned to attract the types of industries that will result the MSA. Key industries within the Atlanta metro include education and health services, financial and in higher paying salaries and greater opportunities. This will help to further strengthen the city’s growing business services, and retail trade. Atlanta is also quickly becoming a technology and data center hub economy. Further strengthening Atlanta’s economy is the frequency with which firms are relocating or for companies looking to relocate or expand outside of the traditional technological hubs such as Silicon expanding within the Atlanta market. In the past twelve months, several firms have relocated their Valley and Austin, TX. Powered by the strength of more than 13,000 technology companies, Atlanta has headquarters to Atlanta including: Porsche, Mercedes Benz, PulteGrop and Keurig Green Mountain. established its strength in telecom, internet security, digital media and a thriving mobility ecosystem. • Porsche’s $100 million headquarters at Aerotropolis, a 130-acre mixed-use development near Atlanta’s strong business climate and ease of access have drawn increasing amounts of international Hartsfield-Jackson International Airport, is nearing completion.