Cartersville Brewery Surplus Land Cartersville, GA Offering Memorandum
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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 SURPLUS CARTERSVILLE BREWERY | P roperty Overview 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 SURPLUS CARTERSVILLE BREWERY | Market Overview Market Overview 03 Market Overview Bartow County Regional Analysis City of Cartersville Market Analysis Demographics MARKET OVERVIEW DEMOGRAPHICS Bartow County Georgia 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 Etowah River 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 Appalachian Mountains. 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, Lake Allatoona (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.