Gallatin Marketplace

FOR SALE Gallatin Marketplace

TRACT 2 ± 7.24 AC

TRACT 1 ± 3.91 AC

S. BROWN’S LANE

801 S BROWNS LANE & 1333 NASHVILLE PIKE, GALLATIN, TN 37066

Capital Markets | Investment Properties www.cbre.us AFFILIATED BUSINESS DISCLOSURE AND CONFIDENTIALITY AGREEMENT

CBRE, Inc. operates within a global family of companies with many subsidiaries DISCLAIMER and related entities (each an “Affiliate”) engaging in a broad range of commercial real estate businesses including, but not limited to, brokerage This Memorandum contains select information pertaining to the Property and services, property and facilities management, valuation, investment fund the Owner, and does not purport to be all-inclusive or contain all or part of the management and development. Attimes different Affiliates, including CBRE information which prospective investors may require to evaluate a purchase of Global Investors, Inc. or Trammell Crow Company, may have or represent the Property. The information contained in this Memorandum has been clients who have competing interests in the same transaction. For example, obtained from sourcesbelieved to be reliable, but has not been verified for Affiliates or their clients may have or express an interest in theproperty described accuracy, completeness, or fitness for any particular purpose. All information is in this Memorandum (the “Property”), and may be the successful bidder for the presented “as is” without representation or warranty of any kind. Such Property. Your receipt of this Memorandum constitutes your acknowledgement information includes estimates based on forward-looking assumptions relating of that possibility and your agreement that neither CBRE, Inc. nor any Affiliate to the general economy, market conditions, competition and other factors has an obligation to disclose to you such Affiliates’ interest or involvement in which are subject to uncertainty and may not represent the current or future the sale or purchase of the Property. In all instances, however, CBRE, Inc. and performance of the Property. All references to acreages, square footages, and its Affiliates will act in the best interest of their respective client(s), atarms’ other measurements are approximations. This Memorandum describes certain length, not in concert, or in a manner detrimental to any third party. CBRE, Inc. documents, including leases and other materials, in summary form. These and its Affiliates will conduct their respective businesses in a manner consistent summaries may not be complete nor accurate descriptions of the full agreements with the law and all fiduciary duties owed to their respective client(s). referenced. Additional information and an opportunity to inspect the Property may be made available to qualified prospective purchasers. You are advised to CONFIDENTIALITY AGREEMENT independently verify the accuracy and completeness of all summaries and information contained herein, to consult with independent legal and financial Your receipt of this Memorandum constitutes your acknowledgement that (i) it advisors, and carefully investigate the economics of this transaction and is a confidential Memorandum solely for your limited use and benefit in Property’s suitability for your needs. ANY RELIANCE ON THE CONTENT OF determining whether you desire to express further interest in the acquisition of THIS MEMORANDUM IS SOLELY AT YOUR OWN RISK. the Property, (ii) you willhold it in the strictest confidence, (iii) you will not disclose it or its contents to any third party without the prior written authorization The Owner expressly reservesthe right, at its sole discretion, to reject any or all of the owner of the Property (“Owner”) or CBRE, Inc., and (iv) you will not use expressions of interest or offers to purchase the Property, and/or to terminate any part of this Memorandum in any manner detrimental to the Owner or discussions at any time with or without notice to you. All offers, counteroffers, CBRE, Inc.If after reviewing this Memorandum, you have no further interest in and negotiations shall be non-bindingand neither CBRE, Inc. nor the Owner purchasing the Property, kindly return it to CBRE, Inc. shall have any legal commitment or obligation except as set forth in a fully executed, definitive purchase and sale agreement delivered by the Owner.

Paul Gaither Senior Vice President +1 615 248 1161 [email protected]

Mia Keller Senior Associate +1 615 248 1171 [email protected] GALLATIN MARKETPLACE

TABLE OF CONTENTS

04 Executive Summary

08 Property Overview

12 Market Overview NASHVILLE PIKE (29,768 ADT)

TRACT 2 ± 7.24 AC

TRACT 1 ± 3.91 AC

S. BROWN’S LANE

EXECUTIVE SUMMARY

GALLATIN MARKETPLACE :: ±11.15 ACRES GALLATIN MARKETPLACE EXECUTIVE SUMMARY

CBRE is pleased to offer for sale Gallatin Marketplace, prime development Available Tracts to Purchase land located in the thriving community of Gallatin, Tennessee, and shadow ACREAGE ZONING anchored by Lowe’s Home Improvement. The subject site consists of two parcels, totaling 11.15 acres, along one of Gallatin’s main corridors and Tract 1 ± 3.91 CS - Commercial Services within the city’s most affluent areas. With a diverse mix of commercial uses Tract 2 ± 7.24 MRO - Multiple Residential & Office such as Walmart, Belk, Publix, and Aldi only a mile down the road, this TOTAL ± 11.15 offering provides the opportunity to develop an extremely well-located asset within a growing market. Traffic Counts

INVESTMENT HIGHLIGHTS AVERAGE DAILY TRAFFIC (ADT) ++ Affluent Demographics U.S. Highway 31-E (Nashville Pike) ± 29,768

++ Lowe’s Home Improvement Anchor Advantage DEMOGRAPHIC SNAPSHOT ++ High Traffic Counts 1 MILE 3 MILE 5 MILE 7 MILE ++ Strategic Location 2017 Population 2,873 28,646 51,874 76,455 2022 Population 3,229 31,672 58,084 85,658 2017 Households 1,288 11,162 19,827 29,078 2022 Households 1,453 12,383 22,212 32,537 2017 Avg. HH Income $112,037 $78,191 $82,719 $87,921

EXECUTIVE SUMMARY 5 INVESTMENT HIGHLIGHTS

AFFLUENT DEMOGRAPHICS STRATEGIC LOCATION The sites benefit from strong and stable demographics. The average The properties are located along one of Gallatin’s main corridors, within household income within a 1-mile radius of the properties exceeds one mile of a diverse mix of major retailers and other economic drivers $112,000. The spending power within a 7-mile radius of the sites are including Walmart, Belk, Publix, Aldi, the Gap Distribution Center, and over $2.5 billion. Volunteer State Community College. Gallatin is benefiting from the LOWE’S HOME IMPROVEMENT ANCHOR ADVANTAGE incredible growth that metro Nashville is experiencing, with 1,332 multifamily units planned, and another 304 under construction. Tract 1, The properties’ drawing power is supplemented by the adjacent, shadow zoned for commercial uses, and Tract 2, zoned for residential anchor, Lowe’s Home Improvement. development, are both well-positioned to take advantage of this growth. HIGH TRAFFIC COUNTS Not only is Gallatin experiencing residential growth, but the daytime population (business) is growing as well with 190 new manufacturing Traffic counts along Nashville Pike total over 29,700 cars per day. jobs headed to the area, and 530 new jobs being added to existing facilities. The Gap, Inc. Distribution center, which is located directly across the street from the subject properties, plans to add 500 employees in the coming year.

NASHVILLE PIKE (29,768 ADT) TRACT 2 ± 7.24 AC

TRACT 1 ± 3.91 AC

S. BROWN’S LANE

6 GALLATIN MARKETPLACE

GALLATIN MARKETPLACE

EXECUTIVE SUMMARY 7 TRACT 2 TRACT 1 ± 7.24 AC ± 3.91 AC

GALLATIN MARKETPLACE

PROPERTY OVERVIEW

GALLATIN MARKETPLACE :: ±11.15 ACRES GALLATIN MARKETPLACE ZONING

TRACT 1 :: CS - COMMERCIAL SERVICES ALLOWED AS A CONDITIONAL USE

This “Commerical Services” class of district is designed to provide for a wide range ++ Community Facility Activities: of commercial uses concerned with retail trade and consumer services; amusement and entertainment establishments; automotive and vehicular service establishments; ++ Limited Child and Adult Care transient sleeping accommodations; drive-in stores, eating and drinking places; ++ Place of Worship financial institutions; and offices. The uses in this district service a wide market area ++ Commercial Activities: and, therefore, ease of automotive access is a requirement. However, it is not ++ Group Assembly Extensive intended that this district permit uses which generate large volumes of truck traffic. ++ Limited Warehousing Appropriate open space between commercial and residential areas is required.

USES PERMITTED PROHIBITED USES

++ Community Facility Activities: ++ Any use not specifically allowed ++ Essential Service ++ Non-assembly Cultural BULK REGULATIONS ++ Administrative ++ Maximum Lot Coverage - 40% ++ Commercial Activities: ++ Maximum Floor Area Ratio - 0.5 ++ Convenience Sales and Service ++ Automotive Parking AREA & YARD REGULATIONS ++ Automotive Servicing ++ Minimum Lot Area - 10,000 SF ++ Transient Habitation ++ Minimum Front Yard - 10 ft ++ Food Service ++ Minimum Side Yard - 10 ft ++ Medical Service ++ Minimum Rear Yard - 20 ft ++ Financial, Consulting, and Administrative ++ Minimum Setback Line - 10 ft ++ Undertaking Service ++ General Retail Sales and Service HEIGHT REGULATION ++ Food Service - Drive-in ++ Consumer Laundry and Repair ++ Maximum Height - 45 ft ++ Retail Business Supply ++ Group Assembly-Limited ++ Automotive Repair and Cleaning *Zoning Information Source: www.gallatintn.gov ++ Animal Care ++ Vehicular, Craft, and Related Equipment Sales, Retail and Delivery ++ Limited Newspaper and Periodical Printing ++ General Personal ServicesAdministrative property overview 9 ZONING

TRACT 2 :: MRO - MULTIPLE RESIDENTIAL & OFFICE ++ Food Service This class of district is intended to provide adequate and suitable space in appropriate ++ General Personal Service location for high-density residential areas. Characteristics of permitted residential ++ Medical Service developments are buildings designed for multiple dwelling units, or designed to be attached with party walls. Commercial developments, having a minimum of ALLOWED AS A CONDITIONAL USE characteristics objectionable in a high density residential environment, are permitted, if the activities therein minimize direct contact with the ultimate consumers of goods ++ Community Facility Activities: or services, or do not principally involve the sale, transfer, storage, or processing in ++ Intermediate Impact Community Facility these districts of goods or chattels. However, a selective list of retail trade and ++ Limited Child and Adult Care personal service uses are permitted if their principal purpose is to serve the recurring ++ Commercial Activities: needs of the occupants or employees of other permitted uses in this district. In addition, use of buildings and land is permitted for community facilities and utilities ++ Utility and Vehicular necessary for serving these districts or for general community welfare. This class of ++ Convenience Sales and Services district is appropriately located between districts characterized by lower density ++ Undertaking Services residential development and areas of more intensive commercial use, or they are ++ Group Assembly Extensive extensions along major traffic arteries from areas used for more intensive commercial ++ Group Assembly Limited purposes. ++ Limited Retail Sales ++ Transient Habitation USES PERMITTED

++ Residential Activities: PROHIBITED USES ++ Dwelling, Attached ++ Any use not specifically allowed ++ Dwelling, Multi-Family ++ Dwelling, One-Family Detached ++ Dwelling, Two-Family Detached *Zoning Information Source: www.gallatintn.gov ++ Community Facility Activities: ++ Administrative ++ Community Assembly ++ Community Education ++ Essential Service ++ Nursing Home – Including Assisted Living ++ Non-assembly Cultural ++ Place of Worship ++ Commercial Activities: 10 ++ Business and Communication Service ++ Financial, Consulting, and Administrative GALLATIN MARKETPLACE ZONING ZONING

++ Food Service TRACT 2 :: MRO - MULTIPLE RESIDENTIAL & OFFICE (CONT.) ++ General Personal Service RESIDENTIAL SITE DEVELOPMENT REQUIREMENTS ++ Medical Service NON-RESIDENTIAL SITE DEVELOPMENT REQUIREMENTS BULK REGULATIONS BULK REGULATIONS ALLOWED AS A CONDITIONAL USE ++ Site Area Per Unit - 3,000 SF ++ Maximum Building Height - 35 ft ++ Maximum Building Height - 35 ft ++ Community Facility Activities: ++ Maximum Floor Area Ratio - 0.5

++ Intermediate Impact Community Facility AREA & YARD REGULATIONS ++ Limited Child and Adult Care AREA & YARD REGULATIONS ++ Minimum Lot Area - 6,000 SF ++ Commercial Activities: ++ Minimum Lot Area - 20,000 SF ++ Minimum Lot Width - 60 ft ++ Minimum Front Yard - 10 ft ++ Utility and Vehicular ++ Minimum Side Yard - 10 ft ++ Convenience Sales and Services MINIMUM REQUIRED BUILDING SETBACK ++ Minimum Rear Yard - 20 ft ++ Undertaking Services ++ Group Assembly Extensive ++ Single-Family Detached: ++ Group Assembly Limited MINIMUM REQUIRED BUILDING SETBACK ++ Front - 20 ft ++ Limited Retail Sales ++ Side - 10 ft ++ Street Classification: ++ Transient Habitation ++ Rear - 10 ft ++ Arterial - 10 ft ++ Single-Family Attached: ++ Collector - 10 ft PROHIBITED USES ++ Front - 20 ft ++ Local - 10 ft ++ Any use not specifically allowed ++ Side - 10 ft on yard opposite common wall ++ Rear - 15 ft *Zoning Information Source: www.gallatintn.gov *Zoning Information Source: www.gallatintn.gov ++ All Other Uses: ++ Front - 25 ft ++ Side - 10 ft ++ Rear - 20 ft

property overview 11 AREA SNAPSHOT

DOWNTOWN GALLATIN

ILE M WALMART GALLATIN 1 HIGH SCHOOL

STARBUCKS

GAP DISTRIBUTION CENTER

GALLATIN MARKETPLACE SUMNER

ACADEMY

AVONDALE AT

KENNESAW

FARMS

NAT CALDWELL PARK

12 GALLATIN MARKETPLACE

AREA SNAPSHOT DEMOGRAPHICS

1 Mile 3 Mile 5 Mile 7 Mile

DOWNTOWN 2017 Population 2,873 28,646 51,874 76,455 GALLATIN 2022 Population 3,229 31,672 58,084 85,658 2010 Population 2,596 23,574 43,125 64,287 2010-2017 Pop. Growth 1.41% 2.72% 2.58% 2.42% 2017-2022 Pop. Growth 2.36% 2.03% 2.29% 2.30% 2017 Households 1,288 11,162 19,827 29,078 2022 Households 1,453 12,383 22,212 32,537 2010 Households 1,157 9,125 16,458 24,485 2010-2017 HH Growth 1.49% 2.82% 2.60% 2.40% 2017-2022 HH Growth 2.44% 2.10% 2.30% 2.27% 2017 Avg. HH Size 2.23 2.53 2.57 2.60 2017 Avg. HH Income $112,037 $78,191 $82,719 $87,921 2017 Median HH Income $72,801 $53,624 $56,847 $61,849 2017 Per Capita Income $47,942 $30,924 $32,141 $33,640 2017 Housing Units 1,356 12,051 21,318 31,180 2017 Vacant HH Units 68 889 1,491 2,102 2017 Owner Occupied HH 951 7,171 13,018 20,523 2017 Renter Occupied HH 337 3,991 6,809 8,554 2017 Population 25 & Over 2,136 19,676 35,450 52,452 High School thru Associates 1,200 12,065 21,092 31,378 Bachelor’s Degrees 495 3,121 6,331 9,990 Graduate Degrees 319 1,966 3,764 5,780 Businesses 164 1,221 1,792 2,404 Employees 2,025 13,069 20,491 26,507

You are solely responsible for independently verifying the information in this Memorandum. PROPERTY OVERVIEW 13 ANY RELIANCE ON IT IS SOLELY AT YOUR OWN RISK. GALLATIN MARKETPLACE

MARKET OVERVIEW

NASHVILLE, TENNESSEE GALLATIN MARKETPLACE NASHVILLE MARKET OVERVIEW

Whether it’s the hit primetime series Nashville, The New York Times calling Nashville is on Business Insider’s list of the hottest American cities for 2016. Nashville the new “it city”, or GQ magazine stating Nashville is simply In choosing these cities, the group looked at job growth, population growth, “Nowville”- the city of Nashville is red hot and making a red-carpet splash affordability, livability, and the health and well-being of the city’s residents. into the national spotlight. The growth potential Nashville has to offer could Each city was also ranked on its “coolness” factor. 5 U.S. News touted be what the media buzz is all about. As the state capitol of Tennessee, and a Nashville as one of the best places to live based on quality of life and the job transportation hub for the Southeast, Nashville is ideally located on the market in each city, as well as the value of living there and people’s desire to Cumberland River in north central Tennessee, midway between Memphis and live there. Of the 100 cities analyzed, Nashville ranks 22nd with an overall Knoxville. The city of Nashville is situated approximately 600 miles from 50% score of 6.8 out of 10. Nashville has also received national acclaim in areas of the U.S. population, which is a key feature in the expansion of the city. other than job growth and housing market strength. Nashville was ranked the 5th top city for start-up growth, ahead of San Francisco and Boston. Nashville offers a beautiful, lush landscape, a seasonally mild climate, Nashville’s ranking jumped 4 places from 2015. Rankings were determined laidback lifestyle and access to some of the country’s best entertainment. The by employment and revenue growth at companies in particular areas. Two city has long been known as Music City, and while the music industry years in a row, Smart Asset has ranked Nashville as one of the “Top Ten Cities continues to boom, the economy of Nashville is not strictly based on music for Creatives”. alone. Along with music, entertainment and professional sports, health care, tourism and conventions, publishing, finance and insurance, technology, higher education and transportation are all leading industries of Nashville. Nashville’s location, diverse economy, high-quality workforce, unique tax advantages/incentives and the overall low cost of doing business are noteworthy features that further solidify the city as one of the premier business centers in the Southeast.

Metro Nashville, which boasts approximately 1.8 million people, has experienced a strong population growth over the past decade and is expected to continue. By 2019, Nashville is expected to grow by 6.33% or 106,591 people. Nashville’s population has grown by 28.3% since 2000, averaging 2.0% growth per year (well above the national average).

The city of Nashville continued to be a major factor in the state’s unemployment rate as Nashville had the lowest rate for a major metropolitan area, officially registering at 3.8%. This low quarterly unemployment rate speaks volumes for the city of Nashville as it marks the seventh time the rate has been below 5.0% since 2008. According to the Bureau of Labor Statistics, Tennessee’s unemployment rate is currently 4.8%, having raised only 20 basis points from last quarter. Tennessee’s unemployment rate has stayed below 6.0% for the past five quarters. market overview 15 MAJOR EMPLOYERS

The strong growth of Nashville’s economy has fueled many relocations and UNE 500/1000 COMPANIES HEADQUARTERED IN expansions. Throughout the past decade, more and more businesses have NASHVILLE chosen to call the Nashville area home. IBM’s “Global Location Trends” report ++ HCA ranked Tennessee #1 in the nation for foreign direct job creation. In 2016, 38 companies announced plans to relocate or expand in Davidson County, ++ Community Health Systems resulting in the creation of 3,788 new jobs, $451.6 million in capital investment, and over 3.4 million square feet occupied. For the same time ++ Dollar General period, 82 companies announced expansion plans for the Middle Tennessee ++ Tractor Supply Company area, creating 7,761 new jobs, over $1.65 billion in capital investment and 5.47 million square feet occupied. Major 2016 business and headquarter ++ LifePoint Health expansions and the resurgence of Downtown development made 2017 a seminal period in the life of Nashville. ++ Delek US Holdings, Inc. ++ Brookdale Senior Living LARGEST EMPLOYERS IN THE NASHVILLE AREA ++ Iasis Healthcare ++ Vanderbilt University Medical Center (20,000 Employees) ++ Genesco ++ HCA Holdings, Inc. (10,380 Employees) ++ Cracker Barrel Old Country Store ++ Nissan North America (10,100 Employees) ++ Amsurg ++ Saint Thomas Health (7,100 Employees)

++ Vanderbilt University (6,400 Employees)

++ Community Health Systems (5,000 Employees)

++ Randstad (4,361 Employees)

++ Asurion (4,000 Employees)

++ Electrolux Home Products (3,400 Employees)

++ The Kroger Company (3,212 Employees)

*Source: Nashville Chamber of Commerce 16 GALLATIN MARKETPLACE GALLATIN MARKET OVERVIEW

Established in 1802 as the county seat of Sumner County and only 20 miles SUMNER COUNTY MAJOR EMPLOYERS northeast of Nashville, the City of Gallatin is one of the most exciting places ++ Sumner County Government and Public (4,307 Employees) in Tennessee, according to Movoto.com. With beautiful rolling hills, breath taking green pastures, and stunning views of the Cumberland River and Old ++ Sumner Regional Medical Center (1,704 Employees) Hickory Lake, its easy to see why residents choose this heavenly nook to live. Furthermore, Gallatin has greatly benefitted from its neighboring city of ++ UniPres USA Inc. (950 Employees) Nashville’s recent boom, seeing population increases of 14% since 2010 ++ Gap, Inc. (800 Employees) and 50% since 2000. In 2017 alone, the city committed to work on over $57 million in transporation projects and repairs in order to continually ++ Volunteer State Community College (712 Employees) accommodate the incredible growth.

ECONOMIC DEVELOPMENT As a result of such strong population rises, the City of Gallatin has added over 3,000 primary jobs since 2013 and has filled them all with over 17,782 local people, according to the Gallatin Economy Development Agency. In addition, manufacturing and industrial companies are flocking to the area and establishing new plants or expanding existing ones. For instance, Beretta USA moved its US manufacturing operations to the area in 2016 while Gap, Inc. announced its $41.7M plan to expand its Gallatin distribution hub and add 500 jobs to the city. GALLATIN MARKETPLACE NEW MANUFACTURING:

++ Beretta USA (125 Jobs)

++ Bennett Tools & Die (50 Jobs)

++ Axem (15 Jobs)

EXPANSIONS:

++ Gap, Inc. (500 Jobs)

++ The Bradford Company (25 Jobs)

++ Western Reflection (5 Jobs)

market overview 17 FOR SALE GALLATIN MARKETPLACE

TRACT 2 ± 7.24 AC

TRACT 1 ± 3.91 AC

S. BROWN’S LANE

Paul Gaither Mia Keller Senior Vice President Senior Associate +1 615 248 1161 +1 615 248 1171 [email protected] [email protected]

801 S BROWNS LANE & 1333 NASHVILLE PIKE, GALLATIN, TN 37066

Capital Markets | Investment Properties www.cbre.us