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Memorial Dri ve 20 :: Affiliated Business Disclosure & Confidentiality Agreement i
CBRE, Inc. operates within a global family of companies with many subsidiaries and related entities (each an “Affiliate”) engaging in a broad range of commercial real estate businesses including, but not limited to, brokerage services, property and facilities management, valuation, investment fund management and development. At times different Affiliates, including CBRE Global Investors, Inc. or Trammell Crow Company, may have or represent clients who have competing interests in the same transaction. For example, Affiliates or their clients may have or express an interest in the property described in this Memorandum (the “Property”), and may be the successful bidder for the Property. Your receipt of this Memorandum constitutes your acknowledgement of that possibility and your agreement that neither CBRE, Inc. nor any Affiliate has an obligation to disclose to you such Affiliates’ interest or involvement in the sale or purchase of the Property. In all instances, however, CBRE, Inc. and its Affiliates will act in the best interest of their respective client(s), at arms’ length, not in concert, or in a manner detrimental to any third party. CBRE, Inc. and its Affiliates will conduct their respective businesses in a manner consistent with the law and all fiduciary duties owed to their respective client(s).This is a confidential Memorandum intended solely for your limited use and benefit in determining whether you desire to express further interest in the acquisition of the Property.
This Memorandum contains select information pertaining to the Property and the Owner, and does not purport to be all-inclusive or contain all or part of the information which prospective investors may require to evaluate a purchase of the Property. The information contained in this Memorandum has been obtained from sources believed to be reliable, but has not been verified for accuracy, completeness, or fitness for any particular purpose. All information is presented “as is” without representation or warranty of any kind. Such information includes estimates based on forward-looking assumptions relating to the general economy, market conditions, competition and other factors which are subject to uncertainty and may not represent the current or future performance of the Property. All references to acreages, square footages, and other measurements are approximations. This Memorandum describes certain documents, including leases and other materials, in summary form. These summaries may not be complete nor accurate descriptions of the full agreements referenced. Additional information and an opportunity to inspect the Property may be made available to qualified prospective purchasers. You are advised to independently verify the accuracy and completeness of all summaries and information contained herein, to consult with independent legal and financial advisors, and carefully investigate the economics of this transaction and Property’s suitability for your needs. ANY RELIANCE ON THE CONTENT OF THIS MEMORANDUM IS SOLELY AT YOUR OWN RISK.
The Owner expressly reserves the right, at its sole discretion, to reject any or all expressions of interest or offers to purchase the Property, and/or to terminate discussions at any time with or without notice to you. All offers, counteroffers, and negotiations shall be non-binding and neither CBRE, Inc. nor the Owner shall have any legal commitment or obligation except as set forth in a fully executed, definitive purchase and sale agreement delivered by the Owner.
The Owner expressly reserved the right, at its sole discretion, to reject any or all expressions of interest or offers to purchase the Property, and/or to terminate discussions with any entity at any time with or without notice which may arise as a result of review of this Memorandum. The Owner shall have no legal commitment or obligation to any entity reviewing this Memorandum or making an offer to purchase the Property unless and until written agreement(s) for the purchase of the Property have been fully executed, delivered and approved by the Owner and any conditions to the Owner’s obligations therein have been satisfied or waived.
CBRE is representing the Seller, not the Purchaser, in this transaction and will be paid by the Seller, not the Purchaser. Any cooperating Broker shall have written exclusive authorization from Purchaser and co-op commission, if any, to be paid by purchaser.
Your receipt of this Memorandum constitutes your acknowledgement that (i) it is a confidential Memorandum solely for your limited use and benefit in determining whether you desire to express further interest in the acquisition of the Property, (ii) you will hold it in the strictest confidence, (iii) you will not disclose it or its contents to any third party without the prior written authorization of the owner of the Property (“Owner”) or CBRE, Inc., and (iv) you will not use any part of this Memorandum in any manner detrimental to the Owner or CBRE, Inc. If after reviewing this Memorandum, you have no further interest in purchasing the Property, kindly return it to CBRE, Inc.
Disclaimer © 2019 CBRE, Inc. All rights reserved. This information has been obtained from sources believed reliable, but has not been verified for accuracy or completeness. You should conduct a careful, independent investigation of the property and verify all information. Any reliance on this information is solely at your own risk. CBRE and the CBRE logo are service marks of CBRE, Inc. All other marks displayed on this document are the property of their respective owners, and the use of such logos does not imply any affiliation with or endorsement of CBRE. Photos herein are the property of their respective owners. Use of these images without the express written consent of the owner is prohibited. CONTENTS & CONTACTS
EXECUTIVE SUMMARY 1
ATLANTA MARKET OVERVIEW 2
OPPORTUNITY ZONE 7
ATLANTA BELTLINE 8
SITE TEST FITS 10
PROPERTY OVERVIEW 25
Scott McGregor John Haynes David Todd CBRE Executive Vice President First Vice President First Vice President 3550 Peachtree Road, Suite 2300 +1 404 783 0013 +1 404 354 4686 +1 404 504 7916 Atlanta, GA 30326 [email protected] [email protected] [email protected] +1 404 504 7900 www.cbre.us iii 1 EXECUTIVE SUMMARY
PROPERTY IN PREMIER LOCATION REMARKABLE INTOWN LOCATION Subject property represents a compelling investment opportunity. The prop- Atlanta is witnessing the largest wave of intown reinvestment since the 1996 erty combines an outstanding intown location convenient to Atlantic Station Olympics. Subject property benefits from its location near multiple significant and West Midtown’s award-winning dining, shopping and entertainment with new job announcements and proximity to downtown Atlanta’s best dining, prominent site providing exceptional visibility and access. shopping, world class tourist destination, and entertainment offerings.
• Major employment centers of Midtown (81,000 jobs) With a West Midtown location surrounded by the Midtown and Downtown and Downtown (118,000 jobs) employment centers, Georgia Tech campus and the future northern leg of the • Rapidly expanding Georgia Tech and Georgia State campuses Atlanta Beltline, this site offers truly unique opportunity. • Georgia’s $1.5 billion film and TV industry ATLANTA OVERVIEW 2
METRO ATLANTA: A STRONG REGIONAL ECONOMY Market Highlights Metro Atlanta is recognized as an international gateway and the economic • Atlanta ranks second in the nation among major cities in job growth, engine of the Southeast. The city is home to 5.5 million people and more third for Fortune 500 headquarters and is the eighth largest MSA than 150,000 businesses. Metro Atlanta’s diverse economy, global access, in the United States. abundant talent, low costs of business and living, and vibrant quality of life • Moody’s categorizes Atlanta in a growth phase of its economic life make it a premier destination for business professionals and families. cycle and places the metro area in the top 15% of all U.S. cities for Home to 26 of America’s largest corporations (Fortune 1,000) and 192 of employment growth over the next three years and in the top 4% of the nation’s fastest growing private companies (Inc. 5000), metro Atlanta all U.S. markets in terms of economic vitality. is a prime location for headquarters. The city also has a thriving ecosystem • Atlanta’s Hartsfield-Jackson International Airport is the busiest pas- for entrepreneurs and new businesses. There is an abundance of creative senger airport in the world. energy, talent and entrepreneurial spirit in metro Atlanta. • The city boasts an $11 billion meeting and convention tourism Major attractions include the Georgia Aquarium (the world’s largest), the business. World of Coca-Cola, the Georgia World Congress Convention Center, Phil- • Under 30 CEO ranked Atlanta as the #1 City for Young Entrepre- lips Arena, Atlanta Merchandise Mart, Woodruff Arts Center including the neurs and Kiplinger ranked Atlanta #3 City to Start a Business in Atlanta Symphony, Alliance Theatre and High Museum of Art plus the Na- 2013. tional Health Museum Centennial Olympic Park, Center for Civil and Human Rights (2015 completion) and National College Hall of Fame (2015 comple- • Mercedes Benz moved its U.S. headquarters to Atlanta, creating tion). The Atlanta Braves’ relocation is expected to generate $10 billion in 1,000+ new jobs. job growth, tax revenues and additional development (2017 completion). 3 ATLANTA OVERVIEW
Established in 1843, the City of Atlanta is the seat of government of the State gion is home to the third highest concentration of Fortune 500 companies of Georgia and Fulton County. Presently, the City has a land area of approxi- and nearly 150,000 businesses. Notable would headquarters include Geor- mately 131.4 square miles, approximately 91% of which is located in Fulton gia Pacific, United Parcel Service, Coca-Cola Company, Home Depot, Delta County and 9% in DeKalb County. Recognized as an international gateway Air Lines, Rock-Tenn Company, HD Supply Holding, Inc., Southern Compa- and the economic engine of the southeast, metro Atlanta is the center of ny, SunTrust, Newell Rubbermaid, NCR Corporation, Genuine Parts and First the 9th largest Metropolitan Statistical Area in the country, totaling approxi- Data Corporation. Metro Atlanta is also home to the headquarters of the mately 5.5 million people (expected to be 8.0 million by 2040). Three major Centers for Disease Control and Prevention (CDC), American Cancer Society interstate highways (I-75, I-85, and I-20) converge near Atlanta’s central busi- and the Arthritis Foundation. Metro Atlanta also became the recent location ness district and the properties being marketed. The City features a diverse of the North American headquarters for Mercedes-Benz USA and Porsche mix of economic strengths, including logistics, professional and business ser- Cars North America, Inc. Downtown Atlanta is experiencing an era of new vices, media operations, and information technology. The City is home to the investment, including new civic and cultural attractions such as the Cen- world’s busiest airport, (Hartsfield-Jackson Atlanta International Airport) and ter for Civil and Human Rights, the College Football Hall of Fame, the new is a national leader in global and domestic air transportation. The City has Mercedes-Benz Atlanta Falcons Stadium, the award of the 22nd expansion also proven to be a destination for technology and innovation, bolstered by team in Major League Soccer (MLS) organization (Atlanta United Soccer FC), a world-class network of research facilities and universities, including The -At the Atlanta Beltline (system of rail, trails and parks), and the Atlanta Street- lanta University Center complex, Emory University, Georgia State University, car. Other exciting developments across the City include Buckhead Atlanta, Georgia Institute of Technology, Morehouse School of Medicine, the Univer- Ponce City Market, redevelopment of Underground Atlanta and the Atlanta sity of Georgia and Georgia Health Sciences University. Combined with the Civic Center sites, and the transformation of Fort McPherson, all spurring city’s low cost of living, the Kauffman Foundation recently ranked Atlanta the long-term job creation into the future. number four metropolitan region for entrepreneurial activity. The region’s skilled workforce provides the ideal talent pool for some of the country’s most revered and fastest growing companies. The metropolitan Atlanta re- ATLANTA OVERVIEW 4
City of Atlanta’s Economy
People:
City of Atlanta Population (2018): 459,600
Population Increase (2017-2018) +10,100 Largest single-year estimated population increase since the Great Recession Population Change (since 2010): +9.4%
Square Miles: 132
Economy:
Median Household Income: $49,398
Unemployment Rate: 5.2%
Jobs in Atlanta: 870,436
Job Growth (2013-2018): +14.1%
Source: Atlanta Regional Commission, Georgia Power (EMSI 2019-Q1) 5 ATLANTA OVERVIEW
TECH AND STARTUP TALENT Atlanta is both affordable and attractive to Tech businesses and start-ups, with a talented workforce.
• #1 U.S. City for start-ups that isn’t New York or San Francisco by FitSmallBusiness.comn, 2018 • #1 Most Affordable Big City by WalletHub, 2018 • #1 Metor Area for job openings for STEM graduates per captia by WalletHub, 2017 • #2 Next big tech hub that’s still affordable by Realtor.com, 2017 • #3 City poised to become tomorrow’s tech mecca by Forbes, 2017 • Top 10 Tech Startup Ecosystems Nationally by Startup Genome, “2017 Global Startup Ecosystem Report,” May 1, 2017 ATLANTA OVERVIEW 6
Atlanta is home to 25+ incubators, accelerators, and coworking spaces and over 1,000 tech start-ups
17 7 OPPORTUNITY ZONE
AN OPPORTUNITY ZONE The site sits within a federal Opportunity Zone, offering many tax incentives. Qualified Opportunity Zones retain this designation for 10 years. Investors can defer tax on any prior gains until no later than December 31, 2026, so long as the gain is reinvested in a Qualified Opportunity Fund, an investment vehicle organized to make investments in Qualified Opportunity Zones. In addition, if the investor holds the investment in the Opportunity Fund for at least ten years, the investor would be eligible for an increase in its basis equal to the fair market value of the investment on the date that it is sold.
*Source: Georgia Department of Community Affairs
SITE EXECUTIVE SUMMARY
CBRE, as exclusive advisors, is pleased to offer for sale 517 Jones Avenue (the “Offering”), an extraordinary andPROPERTYPROPERTY rare opportunity SUMMARY SUMMARY in a prime intown Atlanta Location. The offering is located on Northside Drive Corridor, within walking distance to the Georgia World Congress Center, Mercedez- 8 Benz Stadium, CentennialATLANTA Olympic BELTLINE Park, and the
PROPERTYPROPERTY SUMMARY SUMMARYWESTERN AVENUE Vine City Marta Station. It sits less thanWESTERN 50 AVENUE feet
1 1 LOADING ZONE 517 Jones Avenue from the Atlanta Beltline’s Westside T E E R T S E L P A M Trail. LOADING ZONE T E E R T S E L P A M 5 5 CORRIDOR LOADING CORRIDOR LOADING +0 The property consists of a 30,000 square+0 foot
BUILDING STRUCTURE Industrial/Warehouse building on 1.8 acres withBUILDING STRUCTURE ATLANTA BELTINE WESTERNWESTERN AVENUE AVENUE 2 four dock doors that may be easily converted2 1 1 7 7 LOADING ZONELOADING ZONE T E E R T S E L P A M T E E R T S E L P A M 6 into glass doors for tons of natural6 sunlight,5 5 if the5 5 CORRIDORCORRIDOR LOADING LOADING buyer chooses to utilize the building+0 in+0 its current+12’ +12’ LOADING ZONE LOADING ZONE 5 3 3 +12’ configuration. The property can accommodate5 +12’ 70 1 Gateway Plaza 5 1 Gateway2 PlazaTrail Ramp (8.3%) BUILDINGBUILDING STRUCTURE STRUCTURE 5 2 Trail Ramp3 (8.3%)Trail Landing parking spaces3 Trail— Landing4 theExisting Bridge property Structure sits in the Westside +0 4 Existing Bridge5 Planting Structure Area 6 +14’ +0 5 Planting 6Area Sidewalk 6 2 2 +14’ 6 Sidewalk7 Parking Lot (30 spaces) BROOKS DRIVE 4 TAD with access7 Parking to Lot (30 spaces)Empowerment Zone7 7and BROOKS DRIVE 4 6 6 VIEW FROM TRAIL 5 5 VIEW FROM TRAIL CONCEPT W/ PLANTED ALLEY 0 15’ 30’ 60’ One Stop Productions Site Westside FutureCONCEPT Fund W/ PLANTED Incentives. ALLEY One Stop ProductionsAtlanta, Georgia Site One Stop Productions Site 0 15’ 30’ 60’ Atlanta, Georgia One Stop ProductionsAtlanta, GeorgiaSite Atlanta, Georgia +12’ +12’ LOADING ZONELOADING ZONE 3 3 5 5 +12’ +12’
1 Gateway1 PlazaGateway Plaza 5 5 2 Trail Ramp2 (8.3%)Trail Ramp (8.3%) 3 Trail Landing3 Trail Landing FUTURE WESTSIDE TRAIL 4 Existing4 BridgeExisting Structure Bridge Structure +0 +0 5 Planting5 AreaPlanting Area 6 6 +14’ +14’ 6 Sidewalk6 Sidewalk 7 Parking7 Lot (30Parking spaces) Lot (30 spaces) BROOKSBROOKS DRIVE DRIVE 4 4 VIEW FROMVIEW TRAIL FROM TRAIL CONCEPTCONCEPT W/ PLANTED W/ PLANTED ALLEY ALLEY 0 15’ 030’ 15’ 30’60’ 60’ One Stop ProductionsOne Stop Productions Site Site One Stop ProductionsOne Stop ProductionsSite Site Atlanta, GeorgiaAtlanta, Georgia Atlanta, GeorgiaAtlanta, Georgia
LOADING DOCK VIEW FUTURE WESTSIDE TRAIL
OFFERING MEMORANDUM | 517 JONES AVE. 2
VIEW FROM MAPLE STREET VIEW FROM PLAZA VIEW FROMOne Stop MAPLE Productions STREET Site VIEW FROMOne Stop PLAZA Productions Site One Stop ProductionsAtlanta, Georgia Site One Stop ProductionsAtlanta, Georgia Site Atlanta, Georgia Atlanta, Georgia
OFFERING MEMORANDUM | 517 JONES AVE. OFFERING MEMORANDUM | 517 JONES AVE. 3 3
VIEW FROMVIEW MAPLE FROM MAPLESTREET STREET VIEW FROMVIEW PLAZA FROM PLAZA One Stop ProductionsOne Stop Productions Site Site One Stop ProductionsOne Stop Productions Site Site Atlanta, GeorgiaAtlanta, Georgia Atlanta, GeorgiaAtlanta, Georgia
OFFERINGOFFERING MEMORANDUM MEMORANDUM | 517 | 517JONES JONES AVE. AVE. 3 3 9 ATLANTA BELTLINE
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