120 Ralph Mcgill Blvd. Atlanta, GA 30312 CONFIDENTIALITY DISCLAIMER and EXCLUSIVE AGENCY MEMORANDUM
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CONFIDENTIAL OFFERING MEMORANDUM 120 Ralph McGill Blvd. Atlanta, GA 30312 CONFIDENTIALITY DISCLAIMER AND EXCLUSIVE AGENCY MEMORANDUM This Offering Memorandum has been prepared by Newmark Knight Frank (“NKF”) Although additional material, which may include engineering, environmental, or other (“Advisor”), on behalf of the Seller and is confidential and furnished to prospective reports, may be provided to certain prospective purchasers as appropriate, such parties purchasers of the direct or indirect ownership in certain Property (“Property”). This should confer with their own engineering and environmental experts, counsel, Offering Memorandum is intended solely to assist prospective purchasers in their accountants, and other advisors and should not rely upon such material provided by evaluation of the Property. It is not to be used for any other purpose or made available to Seller or Advisors. any other person without the prior written consent of the Advisors. Neither Seller nor Advisors nor any of their respective officers, advisors, agents, This Offering Memorandum is subject to errors, omissions, changes or withdrawal without shareholders or principals has made or will make any representation or warranties, notice and does not constitute a recommendation or endorsement as to the value of the express or implied, as to the accuracy or completeness of the Offering Memorandum or Property by Seller/Advisors and their sources. Any financial projections or market comps any of its contents, and no legal commitment or obligation shall arise by reason of the are provided as a reference and are based on assumptions made by Seller/Advisors and Offering Memorandum or the contents. Analysis and verification of the information their sources. Prospective purchasers should make their own projections, research their contained in the Offering Memorandum is solely the responsibility of the prospective own comps, and reach their own conclusions of value. Certain portions of this Offering purchaser. Memorandum merely summarize or outline property information and are not intended to be complete descriptions. The Seller expressly reserves the right, in its sole discretion, to reject any offer to purchase the Property or to terminate any negotiations with any party at any time, with or This Offering Memorandum was prepared on the basis of information available to the without notice. The Seller shall have no legal commitment or obligation to any prospective Seller and Advisors in connection with the sale of the Property. It contains pertinent purchaser unless and until a written Purchase Agreement has been fully executed and information about the Property and the surrounding areas of each but does not contain all delivered and any and all conditions to the Seller’s obligations thereunder have been fully the information necessary for a complete evaluation of the Property. Any projected cash satisfied or waived. flow and other financial information contained herein is for general reference only. The Seller is responsible for any compensation due its Advisors in connection with the Although the information contained in this Offering Memorandum is believed to be sale of the Property. No other party, including the Seller’s Advisors, is authorized to make accurate and reliable, neither the Seller nor its Advisors guarantee its accuracy or any representation or agreement on behalf of the Seller. This Memorandum remains the completeness. Because of the foregoing and because the Property will be sold on an “as- property of the Seller and its Advisors and may be used only by parties approved by the is basis”, prospective purchasers should make their own independent assessments, Seller and its Advisors. investigations, and projections regarding the Property. CONTACT INFORMATION TABLE OF CONTENTS John Cobb 01 EXECUTIVE SUMMARY Managing Director Offering Overview Newmark Knight Frank Direct: 404-806-2572 Property Highlights [email protected] 02 PROPERTY DETAILS Edward Tyler Fish Property Map & Aerial Associate Property Details Newmark Knight Frank Direct: 770-552-2460 Property Survey [email protected] Building Drawings Property Photos Todd Perman, CCIM 03 MARKET OVERVIEW Executive Managing Director Snapshot of Neighborhood Newmark Knight Frank Neighborhood Demographics Location Overview The “Stitch” Market Activity Economic Drivers 04 Comparable Transactions 120 RALPH MCGILL BLVD. ATLANTA, GA | CONFIDENTIAL OFFERING MEMORANDUM 4 OFFERING OVERVIEW 120 Ralph McGill Blvd., Unit 3 Newmark Knight Frank is pleased to present this opportunity to acquire a Property Address Atlanta, GA 30308 23,026 sqft. two story owner-user/investment office building in downtown Parcel ID 14-005000151886 Atlanta, (“The Offering”, or “The Building”). The Building is located just Northeast of the Central Business District, easily accessible via Interstate Property Type Commercial Condominium (1 of 3 Units) SPI-1 SA3 (Special Public Interest District, 75/85, as well as the nearby Marta Civic Station. Zoning Subarea 3 SoNo Commercial) Year Built 1974 The Building was renovated in 2013 with modern finishes and style in order to become a place of worship for Renovation Church, who will be Year Remodeled 2013 exiting upon sale. The first floor contains classroom space and the Property Size 23,026 Square Feet sanctuary is located on the second floor, along with a foyer and office Acres 0.301 space. Prior to the current use, the Building was used as a daycare. Stories 2 The Offering is priced at $2.95 Million and all questions and offers should Ceiling Height 14 Feet be directed to John Cobb, [email protected], 404-806-2572 or Tyler Fish, [email protected], 770-552-2460. Offering Price $2.95 Million 120 RALPH MCGILL BLVD. ATLANTA, GA | CONFIDENTIAL OFFERING MEMORANDUM 5 OFFERING HIGHLIGHTS Premier Facility – The Building was remodeled in 2009 and then again in 2013 with modern fixtures, finishes, and coverings and is in above average condition. Strategic Location – Located just North of the Downtown Connector, with unmatched access to I-75, I-85, I-20, and two MARTA stations within 3 blocks, The Building is adjacent to the proposed 14 acre “Stitch” capping of I-75/I-85 and one block west of the Atlanta Civic Center Redevelopment site. Immediate Occupancy- Upon purchase the buyer may take possession of The Building and move in immediately. Parking- The Building has dedicated covered parking in the common garage along with available on-street parking directly in front of the Building. 120 RALPH MCGILL BLVD. ATLANTA, GA | CONFIDENTIAL OFFERING MEMORANDUM 6 PROPERTY MAP & AERIAL Ralph McGill BLVD 120 RALPH MCGILL BLVD. ATLANTA, GA | CONFIDENTIAL OFFERING MEMORANDUM 7 PROPERTY DETAILS Footings Concrete Foundation Walls Concrete Sub-Floor Slab Construction Framing Steel Frame Exterior Wall Concrete and EIFS Material Built Up – Rubber Roof Construction Membrane Aluminum frame, insulated Windows glass Aluminum frame glass Exterior Doors storefront entrance; metal personnel doors Heating System Central Forced Heat Cooling System Central Electric Cooling Sprinkler System Wet One 5 fixture restroom and one 6 fixture restroom on the first floor, two 5 fixture Plumbing restrooms on the second floor, two 2 fixture restrooms on the second floor break room Open/loft-style ceiling, and Ceilings acoustical tile 120 RALPH MCGILL BLVD. ATLANTA, GA | CONFIDENTIAL OFFERING MEMORANDUM 8 PROPERTY SURVEY 120 RALPH MCGILL BLVD. ATLANTA, GA | CONFIDENTIAL OFFERING MEMORANDUM 9 BUILDING DRAWINGS – 1ST FLOOR Open Youth Room Office Bath Entry Bath Open Office Outdoor Playground Office 120 RALPH MCGILL BLVD. ATLANTA, GA | CONFIDENTIAL OFFERING MEMORANDUM 10 BUILDING DRAWINGS – 2ND FLOOR INTERIOR 120 RALPH MCGILL BLVD. ATLANTA, GA | CONFIDENTIAL OFFERING MEMORANDUM 13 MARKET OVERVIEW ATLANTA, GA Geographically located in the Southeastern United States, Atlanta is Atlanta's rapid economic and population growth has generated the nation’s 9th largest MSA. Atlanta’s proximity and access to other investments in infrastructure. Three proposed MARTA expansion metropolitan areas enhance its position as the primary commerce, projects - Clifton Corridor, 1-20 East, and GA 400 - could infuse $5.2B transportation, telecommunications, cultural, and financial center of into the region's overall economy. The transit expansions may also the region. The Atlanta region has taken full advantage of its equate to 45,000 new jobs and $116M in additional annual wages by geographical location in terms of accessibility via its extensive 2040. highway system, as well as continued development of the Hartsfield- Jackson International Airport. With rapid growth anticipated over the The Atlanta BeltLine is the most comprehensive revitalization effort next 20 years, transportation will take an even larger role in shaping ever undertaken in the city of Atlanta and among the largest, most the development of the region. Known historically for expansive wide-ranging urban redevelopment and mobility projects currently sprawl into the suburbs, Atlanta’s core will continue its recent growth underway in the United States. This sustainable project is linking a trend, including high-density, mixed-use developments and residential network of public parks, multi-use trails and transit by reusing 22 high-rises. miles of historic railroad corridors encircling downtown and interconnecting 45 neighborhoods. The BeltLine will add light rail Metro Atlanta has ranked among the top 5 metro areas in the nation in transit that will connect with MARTA and the new Peachtree