cartersville brewery surplus land cartersville, GA Offering Memorandum

brewery surplus land

presented by

:: FRED RODDY CARTERSVILLE Senior Vice President Investment Properties 404.812.5147 Table of Contents brewery 1. Property Summary 1 surplus land 2. Market Overview 6 cartersville brewery surplus land | P roperty Overview

02 Property Overview Property Summary Map Aerial property summary

CBRE is pleased to present the exclusive opportunity to acquire the Busch Cartersville Surplus Land site, located at 100 Busch Drive, Cartersville, GA. The surplus land site is contiguous to the current Busch Brewery and is located along Hwy 411 (between Harden Bridge Road and Cowan Drive), less than 40 miles from the I-75/I-85 junction. The surplus land around the brewery has the potential to be developed into an industrial park or residential community once market conditions return to normalcy and support a development of these uses. The property is approximately 1,050 acres and has multiple commercial and industrial zonings.

brewery 100 Busch Drive, NE Address: surplus Cartersville, GA 30184 land

Municipality: Bartow County / City of Cartersville

PROPERTY SIZE: 1,050 acres ±

Bartow County: B-P/I-2/C-1 City of Cartersville: General ZONING: Commercial (G-C), Heavy Industrial (H-I) and Business Park Overlay District

utilities available Water, sewer, electricity

I-75 - 51,000+ AADT: U.S. HWY 411 - 10,300+

parcel id’s Multiple

1 cartersville brewery surplus land Location aerial/zoning

Zoned C-1 Zoned B-P Bartow County Zoned H-I Bartow County City of Cartersville Zoned I-2 Bartow County

Zoned B-P Bartow County

Zoned B-P Bartow County brewery surplus land

Zoned G-C City of Cartersville

2 cartersville brewery surplus land zoning

PROPOSED 12" WATER

12" WATER 8" WATER 16" WATER 8" SEWER (CITY OF WHITE)

8" WATER

CASSVILLE-WHITE ROAD 24" SEWER PROPOSED 6" GAS

OLD CASSVILLE- GAS LINE WHITE ROAD 18" SEWER (CITY OF WHITE) OVERHEAD POWER 2" WATER BUSCH DRIVE NE PROPOSED 6" GAS GAS LINE OLD TENNESSEE HIGHWAY

30" SEWER 18" SEWER (CITY OF WHITE) 16" WATER 12" WATER

OVERHEAD POWER IN EASEMENT

16" WATER

OLD GRASSDALE ROAD

WATER PUMP STATION OVERHEAD POWER US HIGHWAY 411

INTERSTATE 75

8" WATER

NOTE: UTILITY LOCATIONS ARE NOT TO SCALE AND Zoned G-C ARE SHOWN FOR CLARITY. UTILITY LOCATIONS ARE CitySEWER of C PUMPartersville STATION BASED UPON LIMITED CONVERSATION WITH COUNTY STAFF AND THE UTILITIES ARE SAID TO BE LOCATED IN THE ROAD RIGHTS-OF-WAY AND SHOULD BE VERIFIED WITH AN ALTA SURVEY.

TITLE PROJECT CLIENT BUSCH PROPERTIES UTILITY EXHIBIT - CARTERSVILLE LIMITED OF FLORIDA, INC. EXHIBIT 3 CATERSVILLE BREWERY DUE DILIGENCE STUDY 6817 WESTWOOD BOULEVARD ORLANDO, FLORIDA 32821

3 cartersville brewery surplus land cartersville brewery surplus land | Market Overview

03 Market Overview Bartow County Regional Analysis City of Cartersville Market Analysis Demographics Market Overview demographics

Bartow County Location 2010 Estimated Population 98,190 9,951,992 The subject property consists of a 1,050± acre land tract (Cartersville Brewery Surplus Land) located in Bartow County, GA. The Cartersville Brewery site 2015 Estimated Population 108,503 10,771,743 is located at 100 Busch Drive, Cartersville, GA (north of the intersection of Growth 2000-2010 29.17% 21.57%

GA Hwy 411 and Interstate 75). Portions of the Cartersville Brewery site are Growth 2010-2015 10.50% 8.24% contained within the city limits of Cartersville. The site is approximately six 2010 Estimated Median Age 34.55 35.21 miles north/northwest of downtown Cartersville and approximately 50 miles northwest of downtown Atlanta, GA via Interstate 75. 2010 Estimated Average Age 35.20 35.90 2010 Estimated Households 35,588 3,639,796 bartow county 2015 Projected Households 39,507 3,933,264 Population Growth 2000-2010 30.95% 21.07% Population statistics for Bartow County and the State of Georgia are Growth 2010-2015 11.01% 8.06% summarized in the table to the right. 2010 Estimated Housing Units 38,499 4,053,499 Economic Development 2010 Estimated Occupied Units 35,588 3,639,796 With a balanced blend of industrial, retail and tourism businesses, Bartow County features a strong and diverse economy. Along with a large and 2010 Estimated Vacant Units 2,911 413,703 diverse workforce and an environment that welcomes new businesses while 2010 Estimated Owner Occupied Units 25,834 2,462,128 helping existing businesses grow, a strong economic outlook is predicted 2010 Estimated Renter Occupied Units 9,754 1,177,668 for Bartow County in the coming decades. The county boasts a labor force 2010 Estimated Median Housing Value $131,291 $142,139 of more than 41,000 workers, and an eight-county labor draw of 569,000. 2010 Estimated Average Housing Value $155,141 $185,792 Manufacturing historically has driven the county’s economy, and that trend continues today, accounting for 30 percent of the labor force.(1) Many of the top employers in Bartow are in the manufacturing sector: Shaw Bartow County and Cartersville continue to offset industrial losses with Industries (carpet), Trinity Rail Operations, Georgia Power Plant Bowen and recruiting new businesses and industries; jointly through the Cartersville- Gerdau Ameristeel. Toyo Tire and Rubber Co. recently began operating a Bartow County Dept. of Economic Development and the Bartow-Cartersville tire manufacturing plant in White, perhaps the highest impact industrial Joint Development Authority (JDA). The Bartow County Development recruitment to Cartersville and Bartow County since Anheuser Busch located Authority also works to recruit business and industry to the county. a plant here in the early 1990s. Included in these efforts is securing available properties for industrial development. The Joint Development Authority purchased the site, with help

5 cartersville brewery surplus land from the State of Georgia, which now is home to the Toyo Tire plant. The the Etowah Indian Mounds, created by Native Americans more than 1,000 JDA now owns an 846-acre site on Cass-White Road in Bartow County to years ago. The highest point in Bartow is 2,400 feet (Pine Log Mountain); develop for future industries and new jobs. the lowest is 600 feet, where the flows out of Bartow and into Floyd County. Bartow County has a positive environment for new businesses. Along with a large local workforce, the county’s location on Interstate 75 provides quick access to Atlanta and Chattanooga for transportation needs. Hartsfield- Jackson Airport in Atlanta is 50 miles away, but the Cartersville-Bartow County Airport is convenient for corporate use. CSX Rail and the local trucking industry (6 freight carriers, 26 trucking firms) are convenient for shipping needs. The overall cost of business, including labor costs, is roughly nine percent lower than the national average, making Bartow a profitable location for business and industry. While manufacturers provide a great many of the county’s jobs, Bartow County realizes retailers and small businesses are also needed for a balanced economy and needed sales tax revenues. Many new retail businesses and professional services (doctors, dentists, attorneys, etc.) have located to Bartow County, adding to an already substantial business community. The Cartersville Medical Center is also growing, making Bartow County and Cartersville a potential hub for the healthcare industry in Northwest Georgia.

Geography Bartow County is one of the largest counties by area in the state, covering 471 square miles. The county’s unique geology, which makes it one of the richest areas in the United States for minerals, can be attributed to the Cartersville Fault line, which runs north along the . The Cartersville Fault is a central meeting point of the Blue Ridge, Talladega, Piedmont and Ridge and Valley geologic provinces.

Red Top Mountain, Pine Log Mountain, Pine Mountain, (man- made) and the Etowah River are prominent geographic features, as well as

6 cartersville brewery surplus land Government Structure Bartow County is governed by a sole commissioner, who is the chief administrative officer and elected official of the county government. A sole commissioner has governed Bartow since the late 1920s, and is only one of approximately 10 counties in Georgia (and the largest) to still use the sole commissioner system. Voters turned down referendums in 1992 and 2006 to implement a Board of Commissioners. The County Administrator, Assistant County Administrator, County Financial Officer and County Clerk compose the Commissioner’s senior administrative staff.

All directors of county departments report to the Commissioner, except elected officials. Other elected county officers are the Sheriff of Bartow County, the Clerk of Court, Magistrate Judge, Tax Commissioner, Coroner and Surveyor. These elected officers operate outside of the Commissioner’s authority, with exception to budgetary matters. The Cherokee Judicial Circuit District (Bartow and Gordon counties) is the chief state court with jurisdiction here, which includes four Superior Court Judges and a District Attorney.

Conclusion Bartow County’s outlook remains very positive for many years to come. With growth, transportation and environmental management plans in place, and the renewal of the Special Purpose Local Options Sales Tax (SPLOST) for six more years, the county is positioned to meet the challenges of growth, maintain its rural and small town charm and sense of community while continuing to protect important historic and environmental resources.

Because of the strength and diversity of our economy, the county will continue to attract new residents from the Southeast region and beyond. Also, it will remain a favorable location for new businesses and industries and for the expansion of existing businesses.

Population growth is expected to average about four percent (4%) annually for the next two to three decades and will likely surpass 100,000 by 2010 and 200,000 by 2030. Residents provide a large skilled workforce and a strong leadership base to help sustain the community for the future.

7 cartersville brewery surplus land city of cartersville demographics

Considered the hub of Bartow County, the city of Cartersville is located west Selected demographics in a three, five, and ten mile radius from the subject of US Interstate 75 in the center of the county. Cartersville is located on the are shown in the following table: Etowah River with Lake Allatoona nearby. Lake Allatoona is a 12,000 acre lake that has numerous areas for picnicking, camping, boating, fishing, 3 Mile 5 Mile 10 Mile skiing and swimming. Lake Allatoona is also Cartersville’s source of water. 2010 Estimated Population 8,553 31,155 71,665

In addition, Red Top Mountain State Park is located on a peninsula of Lake 2015 Estimated Population 9,576 34,360 79,379 Allatoona. The park has a lodge, conference center, restaurant, golf course, Growth 2000-2010 38.54% 29.06% 31.23% camping sites, rental cottages, tennis courts, and hiking trails. Growth 2010-2015 11.96% 10.29% 10.76%

Recreational and cultural opportunities abound in Cartersville. Recreation 2010 Estimated Median Age 34.16 35.25 34.92 facilities include gymnasiums, a gymnastics facility, the city civic center 2010 Estimated Average Age 34.99 36.01 35.7 and numerous parks throughout the community. The City of Cartersville’s 2010 Estimated Households 3,192 11,528 26,109 Recreation Department offers a wide variety of programs for youth and adults, consisting of tennis, gymnastics, aerobics, baseball, cheerleading, 2015 Projected Households 3,616 12,823 29,059 football, soccer, basketball and swimming. The City’s prominent park is Growth 2000-2010 43.11% 31.91% 33.13% Dellinger Park. The 111 acre facility features tennis courts, athletic fields, Growth 2010-2015 13.29% 11.23% 11.30% an Olympic size swimming pool, and a 2 mile walking/jogging path with 2010 Estimated Housing Units 3,340 12,371 28,085 lush wooded acreage, a lake and gazebo. Milam Farm, 237 acres the city acquired in June 2000, is also used for recreation. The master plan for the 2010 Estimated Occupied Units 3,192 11,528 26,109 property includes a 3 mile trail that will wrap around the entire 237 acres. 2010 Estimated Vacant Units 148 842 1,975 So far 1.5 miles of the trail have been built, and the trail is expected to be 2010 Estimated Owner Occupied Units 1,939 7,774 18,522 completed in summer 2005 with 2,800 feet on the Etowah River and 2 2010 Estimated Renter Occupied Units 1,252 3,755 7,588 river overlook platforms. Additionally, in late 2002 the city acquired 226 2010 Estimated Median Housing Value $140,785 $133,045 $135,602 acres, the Pine Mountain property located on the east side of the city. This property now offers over 3 miles of strenuous hiking trails. 2010 Estimated Average Housing Value $152,147 $144,882 $157,349

There are several places within Historic Downtown Cartersville that have of extraordinary Contemporary Western American art; along with large had a significant impact on the city, including the Grand Theatre, the galleries devoted to Western illustration, a collection of Presidential letters Booth Western Art Museum and the Bartow History Center. The “Grand” and portraits, Western movie posters and contemporary Civil War art. The is a cultural centerpiece of the area. The Grand Theatre opened in 1910 museum also has a theater that shows an orientation film every 20 minutes, but was destroyed by fire in 1923. The theatre re-opened in 1924 as a a presentation theater that seats 140, a café, museum store and members movie theater, then closed in 1977. The theatre opened again in 1989, and lounge. The Bartow History Center located downtown, documents the has since been used for musicals, plays, dance performances, concerts history of Bartow County through hands-on exhibits, as well as engaging and civic events. The Booth Western Art Museum is 120,000 square feet lectures, workshops and programs.

8 cartersville brewery surplus land brewery surplus land :: Affiliated Business Disclosure & Confidentiality Agreement

CBRE, Inc. operates within a global family of companies with many subsidiaries and/or related entities (each an “Affiliate”) engaging in a broad range of commercial real estate businesses including, but not limited to, brokerage services, property and facilities management, valuation, investment fund management and development. At times different Affiliates may represent various clients with competing interests in the same transaction. For example, presented by this Memorandum may be received by our Affiliates, including CBRE Investors, Inc. or Trammell Crow Company. Those, or other, Affiliates may express an interest in the property described in this Memorandum (the “Property”) may submit an offer to purchase the Property and may be the successful :: FRED RODDY bidder for the Property. You hereby acknowledge that possibility and agree that neither CBRE, Inc. nor any involved Affiliate will have any obligation to Senior Vice President disclose to you the involvement of any Affiliate in the sale or purchase of the Property. In all instances, however, CBRE, Inc. will act in the best interest of the client(s) it represents in the transaction described in this Memorandum and will not act in concert with or otherwise conduct its business in a way Investment Properties that benefits any Affiliate to the detriment of any other offeror or prospective offeror, but rather will conduct its business in a manner consistent with the 404.812.5147 law and any fiduciary duties owed to the client(s) it represents in the transaction described in this Memorandum.

This is a confidential Memorandum intended solely for your limited use and benefit in determining whether you desire to express further interest in the acquisition of the Property.

This Memorandum contains selected information pertaining to the Property and does not purport to be a representation of the state of affairs of the Property or the owner of the Property (the “Owner”), to be all-inclusive or to contain all or part of the information which prospective investors may require to evaluate a purchase of real property. All financial projections and information are provided for general reference purposes only and are based on assumptions relating to the general economy, market conditions, competition and other factors beyond the control of the Owner and CBRE, Inc. Therefore, all projections, assumptions and other information provided and made herein are subject to material variation. All references to acreages, square footages, and other measurements are approximations. Additional information and an opportunity to inspect the Property will be made available to interested and qualified prospective purchasers. In this Memorandum, certain documents, including leases and other materials, are described in summary form. These summaries do not purport to be complete nor necessarily accurate descriptions of the full agreements referenced. Interested parties are expected to review all such summaries and other documents of whatever nature independently and not rely on the contents of this Memorandum in any manner.

Neither the Owner or CBRE, Inc, nor any of their respective directors, officers, Affiliates or representatives make any representation or warranty, expressed or implied, as to the accuracy or completeness of this Memorandum or any of its contents, and no legal commitment or obligation shall arise by reason of your receipt of this Memorandum or use of its contents; and you are to rely solely on your investigations and inspections of the Property in evaluating a possible purchase of the real property.

The Owner expressly reserved the right, at its sole discretion, to reject any or all expressions of interest or offers to purchase the Property, and/or to terminate discussions with any entity at any time with or without notice which may arise as a result of review of this Memorandum. The Owner shall have no legal commitment or obligation to any entity reviewing this Memorandum or making an offer to purchase the Property unless and until written agreement(s) for the purchase of the Property have been fully executed, delivered and approved by the Owner and any conditions to the Owner’s obligations therein have been satisfied or waived.

By receipt of this Memorandum, you agree that this Memorandum and its contents are of a confident nature, that you will hold and treat it in the strictest confidence and that you will not disclose this Memorandum or any of its contents to any other entity without the prior written authorization of the Owner or CBRE, Inc. You also agree that you will not use this Memorandum or any of its contents in any manner detrimental to the interest of the Owner or CBRE, Inc.

If after reviewing this Memorandum, you have no further interest in purchasing the Property, kindly return this Memorandum to CBRE, Inc.

© 2011 CBRE, Inc. The information contained in this document has been obtained from sources believed reliable. While CBRE, Inc. does not doubt its accuracy, CBRE, Inc. has not verified it and makes no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.