Gallatin Marketplace
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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), at arms’ 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. © 2018 CBRE, Inc. All Rights Reserved GALLATIN MARKETPLACE CONTACT US 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