Offering Memorandum
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OFFERING MEMORANDUM OWNER/USER OR INVESTMENT OPPORTUNITY COLD STORAGE COMPONENT 36 & 40 ENTERPRISE BLVD ATLANTA, GA MATTHEWS™ 1 LISTED BY: HARRISON AUERBACH ASSOCIATE DIR: (404) 445-1092 MOB: (407) 312-1284 [email protected] LIC NO: SL3422263 (FL) ENTERPRISE BOULEVARD SW ALEXANDER HARROLD AVP & SENIOR DIRECTOR DIR: (310) 919-5790 MOB: (310) 977-1651 [email protected] LIC NO: 02009656 (CA) BROKER OF RECORD KYLE MATTHEWS LIC NO: 67120 (GA) VACANT INDUSTRIAL SITES 2 ATLANTA, GA TABLE OF CONTENTS 04 EXECUTIVE OVERVIEW 06 PROPERTY OVERVIEW 12 AREA OVERVIEW MATTHEWS™ 3 04 EXECUTIVE OVERVIEW INDUSTRIAL SITES 36 & 40 ENTERPRISE BLVD ATLANTA, GA SPECIAL COMPONENTS 36 Enterprise Blvd houses ±21,000 SF of refrigeration/freezer space. A rail spur runs alongside both buildings, allowing easy access for shipping and deliveries. The properties boast ±20’ clear heights and over 50 parking spaces. BUILDING FEATURES The two brick structures totaling over 90,000 SF, sit on over 4.5 acres of land. Recent improvements connected the two buildings with a large truck court, allowing ample space for any size vehicle. STRONG LOCATION Located less than 10 miles from Hartsfield/Jackson International Airport, one of the world’s busiest airports. The Fulton District industrial submarket, experiencing just below 3% vacancy, is seeing tremendous rent growth and new development, including UPS opening a 1.2 million SF facility in Q3 of 2018. HIGHWAY & AIRPORT ACCESS Directly off Atlanta’s major highway, I-20 and about 3 miles from I-285. I-285 is Atlanta’s most heavily trafficked interstate, experiencing over 2 million users each day. The subject properties are located less than two miles from Fulton County Airport. GROWING AREA Atlanta’s Industrial market is continuously expanding as vacancies have recently dropped below the national average. Such circumstances have given industrial developers the go-ahead to construct over 18 million SF in 2019. These conditions will allow the landlord’s to push rents and attract regional and national tenants. MATTHEWS™ 5 06 PROPERTY PROPERTY SUMMARY SQUARE FEET ±90,255 13,000 SF - Freezer Space COLD STORAGE SPACE 8,000 SF - Refrigeration Space OVERVIEW 4.49 Acres LAND AREA YEAR BUILT/RENOVATED 1977/1995R LIST PRICE $3,610,000 PRICE/SF $39.99 APN 14F-0083- LL-045-1 ZONING M-1A INDUSTRIAL SITES 36 & 40 ENTERPRISE BLVD ATLANTA, GA PROPERTY SUMMARY SQUARE FEET ±90,255 13,000 SF - Freezer Space COLD STORAGE SPACE 8,000 SF - Refrigeration Space LAND AREA 4.49 Acres YEAR BUILT/RENOVATED 1977/1995R LIST PRICE $3,610,000 PRICE/SF $39.99 APN 14F-0083- LL-045-1 ZONING M-1A MATTHEWS™ 7 PROPERTY PHOTOS VACANT INDUSTRIAL SITES 8 ATLANTA, GA SURROUNDING TENANT MAP Fulton Industrial Blvd SW ±35,000 VPD I-20 ±146,000 VPD SUBJECT PROPERTY MATTHEWS™ 9 OLD GORDON BAKER HILLS 36 ENTERPRISE BLVD SW 40 ENTERPRISE BLVD SW ENTERPRISE BLVD SW VACANT INDUSTRIAL SITES 10 ATLANTA, GA CHATTAHOOCHEE RIVER SUBJECT PROPERTIES ENTERPRISE BLVD SW MCDOUGALL DRIVE SW MATTHEWS™ 11 12 AREA OVERVIEW INDUSTRIAL SITES 36 & 40 ENTERPRISE BLVD ATLANTA, GA ATLANTA, GA Demographics Atlanta is the capital of and the most populous city in the U.S. state of Georgia, the cultural and economic center of the Atlanta metropolitan area, and the ninth largest metropolitan area in the POPULATION 3-MILE 5-MILE 7-MILE United States. The Atlanta metro has the fifth-largest population in 2010 Census 37,625 110,263 234,648 the U.S. with 5.8 million residents. 2019 Estimate 42,748 124,697 264,362 Atlanta is an “alpha-” or “world city”, exerting a significant impact 2024 Projection 45,597 132,891 280,916 upon commerce, finance, research, technology, education, media, art, and entertainment. It ranks 36th among world cities and 8th in Growth 2010-2019 13.62% 13.09% 12.66% the nation with a gross domestic product of $270 billion. Atlanta’s Growth 2019-2024 6.67% 6.57% 6.26% economy is considered diverse, with dominant sectors including logistics, professional and business services, media operations, and information technology. HOUSEHOLDS 3-MILE 5-MILE 7-MILE Atlanta is home to professional franchises for three major team 2010 Census 14,064 42,250 91,787 sports: the Atlanta Braves of Major League Baseball, the Atlanta 2019 Estimate 16,160 48,088 104,520 Hawks of the National Basketball Association, and the Atlanta Falcons of the National Football League. Due to the more than 30 2024 Projection 17,304 51,364 111,471 colleges and universities located in the city, Atlanta is considered a Growth 2010-2019 14.90% 13.82% 13.87% center for higher education. Growth 2019-2024 7.08% 6.81% 6.65% INCOME 3-MILE 5-MILE 7-MILE 2019 Est. Average Household Income $64,427 $72,345 $73,227 MATTHEWS™ 13 ATLANTA ECONOMY Hartsfield-Jackson International is the Encompassing $304 billion, the Atlanta metropolitan area is the eighth-largest economy in the country world’s busiest and 17th-largest in the world. Corporate operations comprise a large portion of Atlanta’s economy, airport with the city serving as the regional, national, or global headquarters for many corporations. Atlanta contains the country’s third largest concentration of Fortune 500 companies, and the city is the global headquarters of corporations such as The Coca-Cola Company, The Home Depot, Delta Air Lines, AT&T Mobility, Chick-fil-A, UPS, and Newell-Rubbermaid. Over 75 percent of Fortune 1000 companies conduct business operations in the Atlanta metropolitan area, and the region hosts offices of about In 2018, Penske 1,250 multinational corporations. named Atlanta Atlanta’s economy is very diverse, with dominant sectors including logistics, professional and business the #1 Moving services, media operations, and information technology. Corporate operations comprise a large portion Destination in the of Atlanta’s economy, with the city serving as the regional, national, or global headquarters for many U.S. corporations. Atlanta contains the country’s third largest concentration of Fortune 500 companies, and the city is the global headquarters of corporations such as The Coca-Cola Company, The Home Depot, Delta Air Lines, AT&T Mobility, Chick-fil-A, UPS, and Newell-Rubbermaid. Over 75 percent of Fortune 1000 companies conduct business operations in the Atlanta metropolitan area, and the region hosts offices of about 1,250 multinational corporations. Many corporations are drawn to Atlanta on Atlanta is the #1 account of the city’s educated workforce; as of 2010, nearly 43% of adults in the city of Atlanta have Most Affordable Big college degrees, compared to 27% in the nation as a whole. City in the U.S. per WalletHub VACANT INDUSTRIAL SITES 14 ATLANTA, GA TOURISM Atlanta is one of the most visited cities in America, with over 37 million human rights movements throughout the world; the Carter Center and visitors per year. In 2015 alone, the tourism industry generated $58.9 Presidential Library, housing U.S. President Jimmy Carter’s papers and billion in business sales. Although the most popular attraction among other material relating to the Carter administration and the Carter visitors to Atlanta is the Georgia Aquarium, the world’s largest indoor family’s life; and the Margaret Mitchell House and Museum, site of the aquarium, Atlanta’s tourism industry mostly driven by the city’s history writing of the best-selling novel Gone with the Wind. museums and outdoor attractions. Atlanta also contains various outdoor attractions. The Atlanta Botanical Atlanta contains a notable amount of historical museums and sites, Garden, adjacent to Piedmont Park, is home to the 600-foot-long including the Martin Luther King, Jr. National Historic Site, which Kendeda Canopy Walk, a skywalk that allows visitors to tour one of the includes the preserved childhood home of Dr. Martin Luther King, Jr., city’s last remaining urban forests from 40-foot-high. The Canopy Walk as well as his final resting place. The Atlanta Cyclorama & Civil War is considered the only canopy-level pathway of its kind in the United Museum, which houses a massive painting and diorama in-the-round, States. Zoo Atlanta, located in Grant Park, accommodates over 1,300 with a rotating central audience platform, depicting the Battle of animals representing more than 220 species. Home to the nation’s Atlanta in the Civil War; the World of Coca-Cola, featuring the history largest collections of gorillas and orangutans, the Zoo is also one of of the world famous soft drink brand and its well-known advertising; only four zoos in the U.S. to house giant pandas. Festivals showcasing the College Football Hall of Fame which honors college football and arts and crafts, film, and music, including the Atlanta Dogwood Festival, its athletes; the National Center for Civil and Human Rights, which the Atlanta Film Festival, and Music Midtown, respectively, are also explores the Civil Rights Movement and its connection to contemporary popular with tourists. MATTHEWS™ 15 SURROUNDING AREA FULTON COUNTY AIRPORT I-285 ±154,000 VPD I-20 ±146,000 VPD SUBJECT PROPERTIES VACANT INDUSTRIAL SITES 16 ATLANTA, GA FULTON COUNTY AIRPORT I-20 ±146,000 VPD SUBJECT PROPERTIES I-285 ±154,000 VPD MATTHEWS™ 17 CONFIDENTIALITY AGREEMENT & DISCLAIMER This Offering Memorandum contains select information pertaining to the business and affairs of Vacant Industrial Site located in 36 & 40 Enterprise Boulevard | Atlanta, GA (“Property”). It has been prepared by Matthews Real Estate Investment Services. This Offering Memorandum may not be all-inclusive or contain all of the information a prospective purchaser may desire. The information contained in this Offering Memorandum is confidential and furnished solely for the purpose of a review by a prospective purchaser of the Property.