OFFERING MEMORANDUM FREESTANDING RETAIL | PRIME BUCKHEAD LOCATION ± 3,600 SF TABLE OF CONTENTS
THE OFFERING 3 EXECUTIVE SUMMARY 4 PROPERTY INFORMATION 5 PHOTOS 6 AERIAL & PARCEL OUTLINE 7 Andy Lundsberg SALE COMPS 9 Partner [email protected] AREA OVERVIEW 10 404-876-1640 x107 IN THE AREA 11 Michael Wess DEMOGRAPHICS & TRAFFIC COUNTS 13 Commercial Real Estate Advisor ABOUT THE AREA 14 [email protected] 404-876-1640 x150 BROKER PROFILE 17 TEAM PROFILE 18 50 Glenlake Parkway, Suite 600 DISCLAIMER & LIMITING CONDITIONS 19 Atlanta, GA 30328 BullRealty.com
Exclusively listed by Bull Realty, Inc. THE OFFERING
BUCKHEAD FREESTANDING RETAIL WITH PIEDMONT ROAD EXPOSURE Page 3 of 19 EXECUTIVE SUMMARY PROPERTY HIGHLIGHTS
• ± 3,600 SF freestanding building in Buckhead • Zoned RLC • Excellent visibility with signage • 2-story with basement; ± 1,300 SF/Floor • Upfront parking and additional parking in rear (28 spaces) • Prime location on Piedmont Road with excellent retail exposure • Traffic counts of 37,570 VPD on Piedmont Road
LOCATION OVERVIEW
The property is located in Buckhead, GA directly off Piedmont Road. Less than a four minute drive to I-85 with easy access to Midtown and Downtown Atlanta. Many restaurants and retail in the surroundIing area which includes Lenox Square (2 Miles), Phipps Plaza (1.8 miles) and the Shops at Buckhead (1.1 miles). Other major retailers in the area include Trader Joe’s, Whole Foods, The Home Depot and Kroger.
$ PRICE $1,500,000
BUCKHEAD FREESTANDING RETAIL WITH PIEDMONT ROAD EXPOSURE Page 4 of 19 PROPERTY INFORMATION
ADDRESS 2859 Piedmont Road, Atlanta, GA 30305 COUNTY Fulton BUILDING SIZE 3,600 SF SITE SIZE ± 0.31 Acres PARCEL ID 17 00470001079 STORIES 3 YEAR BUILT 1952 ZONING R-LC-C Zoning TRAFFIC COUNTS 37,570 VPD on Piedmont Road PARKING Upfront parking and additional parking in rear (28 spaces) SALES PRICE $1,500,000
BUCKHEAD FREESTANDING RETAIL WITH PIEDMONT ROAD EXPOSURE Page 5 of 19 INTERIOR PHOTOS
BUCKHEAD FREESTANDING RETAIL WITH PIEDMONT ROAD EXPOSURE Page 6 of 19 AERIAL
BUCKHEAD FREESTANDING RETAIL WITH PIEDMONT ROAD EXPOSURE Page 7 of 19 PARCEL OUTLINE
PIEDMONT ROAD
BUCKHEAD FREESTANDING RETAIL WITH PIEDMONT ROAD EXPOSURE Page 8 of 19 SALESALE C OCOMPMPSS
FREESFREESTTANDINGANDING RETRETAILAIL | PRIME BUCKHEAD LLOCAOCATIONTION | |± ± 3,600 3,600 SF SF
SALESubjectSubject Proper Pr opertyCOMPSty
SALE CO MPS
FREESTANDING RETAIL | PRIME BUCKHEAD LOCATION | ± 3,600 SF
Subject Property
SUBJECT PROPERTY SUBJECTAddress PROPERTY City Asking Price Year Built Building Size Price/SF Site Size Sold Date Address City Asking Price Year Built Building Size Price/SF Site Size Sold Date 2859 Piedmont Road Atlanta $1,500,000 1952 3,600 SF $416.67 0.31 AC - 2859 Piedmont Road Atlanta $1,500,000 1952 3,600 SF $416.67 0.31 AC - SALES COMPS SALESAd drCOessMPS City Sale Price Year Built Building Size Price PSF Site Size Sold Date Address City Sale Price Year Built Building Size Price PSF Site Size Sold Date 1 2964 Hardman Court Atlanta $825,000 1938 1,844 SF $447.40 0.21 AC 12/26/2018 1 2964 Hardman Court Atlanta $825,000 1938 1,844 SF $447.40 0.21 AC 12/26/2018 2 3223 Paces Ferry Place Atlanta $1,610,000 1930 3,000 SF $536.67 0.1 AC 12/27/2017 2 3223 Paces Ferry Place Atlanta $1,610,000 1930 3,000 SF $536.67 0.1 AC 12/27/2017 3 416 E Paces Ferry Road NE Atlanta $2,243,500 1940 4,593 SF $488.46 0.25 AC 04/25/2019 3 416 E Paces Ferry Road NE Atlanta $2,243,500 1940 4,593 SF $488.46 0.25 AC 04/25/2019 4 3201 NE Peachtree Road Atlanta $3,300,000 1970 5,438 SF $606.84 0.38 AC 06/08/2018 4 53201545 NE PharrPeachtr Roadee Road AtlantaAtlanta $3,300,000$1,850,000 19194570 5,41,89638 SFSF $606.84$975.74 0.0.3819 A ACC 0806/2/087/20/201818
5 545Addr Pharress Road AtlantaCity Asking$1,850,000 Price Year1945 Built Buil1,896ding SF Size Pric$975.7e/SF4 Sit0.19e Size AC 08Sol/2d7 /20Dat18e
6 3162 NE Piedmont Road Atlanta $3,900,000 1985 7,000 SF $557.14 0.47 AC 06/20/2019
3097 Shadowlawn Avenue Atlanta $1,100,000 1934 1,934 SF $568.77 0.16 AC 06/08/2018 7 F r eestanding Retail | Prime Buckhead Location | ± 3,600 SF | P age 1 of 2
F r eestanding Retail | Prime Buckhead Location | ± 3,600 SF | P age 1 of 2
BUCKHEAD FREESTANDING RETAIL WITH PIEDMONT ROAD EXPOSURE Page 9 of 19
F r eestanding Retail | Prime Buckhead Location | ± 3,600 SF | P age 2 of 2 AREA OVERVIEW
BUCKHEAD FREESTANDING RETAIL WITH PIEDMONT ROAD EXPOSURE Page 10 of 19 BUCKHEAD FREESTANDING RETAIL WITH PIEDMONT ROAD EXPOSURE Page 11 of 19 IN THE AREA
PHIPPS PLAZA RENOVATION 309 EAST PACES 1 Headlined by the arrival of Nobu Hotel Creative loft office space located between 4 and Restaurant Atlanta, the reimagined The Shops Buckhead Atlanta and multiple development will include a 90,000 SF dense residential and office towers. This living and entertainment destination and a mixed-use building will have 79,900 SF of 13-story, 350,000 SF, Class A office building. loft-office space directly above the street It will also feature an outdoor event venue level retail and restaurant space. and a multi-purpose courtyard offering easy access to the One Phipps Plaza office building and restaurants.
ICON BUCKHEAD THE SHOPS 2 The 36-story Peachtree & Stratford project BUCKHEAD ATLANTA 5 will consist of 362 luxury apartments with Offering over 800,000 SF of customizable 32,000 SF street level retail. The property space-including 300,000 SF of upscale retail, will feature a pool terrace atop an adjacent restaurants and cafes, more than 100,000 SF parking structure and clubroom amenity of luxury office and approximately 400,000 with rooftop fire pit terrace on the 36th SF of high-rise residential-The Shops floor of the residential tower. Buckhead Atlanta conveys the ultimate street-scene dynamic in the capital of the South.
MODERA PROMINENCE HEARTIS BUCKHEAD 3 Mill Creek Residential continues to expand Dallas-based healthcare real estate firm, 6 in Atlanta with the development of Caddis, just unveiled plans for an upscale Modera Prominence, a luxury mixed-use senior living community: the 18-story, apartment community. The community will 213-unit, 278,000 SF Heartis Buckhead. feature 319 apartment homes and 21,000 For Caddis, Heartis Buckhead is its largest SF of retail. First move-ins are anticipated project to date and one of the largest such in 2020. projects now under construction anywhere in the United States. When completed, it will also be one of the largest senior living communities in the Atlanta area.
BUCKHEAD FREESTANDING RETAIL WITH PIEDMONT ROAD EXPOSURE Page 12 of 19 DEMOGRAPHICS & TRAFFIC COUNTS (2019 ESRI) 1 MILE 3 MILES 5 MILES
POPULATION 23,767 140,047 347,080
HOUSEHOLDS 13,213 70,057 166,458
AVG. HH INCOME $96,736 $127,709 121,904
ANNUAL POP. GROWTH 2.66% 1.98% 1.92% (2019-2024)
SOURCE: GDOT BUCKHEAD FREESTANDING RETAIL WITH PIEDMONT ROAD EXPOSURE Page 13 of 19 BUCKHEAD
Buckhead is an affluent uptown district of Atlanta, Fulton County, Georgia, comprising approximately the northern fifth of the city. Buckhead is a major commercial and financial center of the Southeast, and the third-largest business district in Atlanta, behind Downtown and Midtown. The district’s numerous high-rise office buildings, hotels and condominiums form a highly urbanized core along Peachtree Road. Surrounding this dense hub are Buckhead’s residential neighborhoods, which feature large comfortable single-family homes situated among dense forests and rolling hills.
At the heart of Buckhead around the intersections of Lenox, Peachtree and Piedmont Roads, is a shopping district with more than 1,500 retail units where shoppers spend more than $3 billion a year. In addition, Buckhead contains the highest concentration of upscale boutiques in the United States. The majority are located at Lenox Square and Phipps Plaza, sister regional malls located diagonally across from each other at the intersection of Peachtree and Lenox Roads. This commercial core also has a concentration of “big-box” retailers. The Shops Buckhead Atlanta mixed-use development brings even more exclusive and high end boutiques, restaurants, hotels, condos and office space to thriving Buckhead.
Buckhead offers world-class shopping, dining, entertainment, workspace and housing in an unsurpassed location for the ultimate urban luxury lifestyle.
BUCKHEAD FREESTANDING RETAIL WITH PIEDMONT ROAD EXPOSURE Page 14 of 19 ATLANTA Atlanta is an exciting destination with world-class restaurants, a festive nightlife, several major league sports teams and an abundance of cultural attractions. Atlanta’s arts and culture scene is complemented by in-town neighborhoods that give the city even more depth. These locations are in the neighborhoods of Midtown, Virginia-Highland, Little Five Points and Inman Park - a short cab ride away.
Home to the busiest and most efficient airport in the world, Hartsfield-Jackson Atlanta International Airport, and the Maynard H. Jackson International Terminal, getting to Atlanta is easy. With a variety of transportation options throughout the city, our guides, maps, shuttles, tours and Atlanta Ambassadors make getting around Atlanta easy too.
Encompassing $304 billion, the Atlanta metropolitan area is the eighth-largest economy in the country and 17th-largest in the world. Corporate operations comprise a large portion of the Atlanta’s economy, 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, 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 account of the city’s educated workforce; as of 2010, nearly 43% of adults in the city of Atlanta have college degrees, compared to 27% in the nation as a whole and 41% in Boston.
BUCKHEAD FREESTANDING RETAIL WITH PIEDMONT ROAD EXPOSURE Page 15 of 19 ATLANTA
TOP EMPLOYERS
EDUCATION MAJOR ATTRACTIONS
BUCKHEAD FREESTANDING RETAIL WITH PIEDMONT ROAD EXPOSURE Page 16 of 19 BROKER PROFILE
Andy Lundsberg joined Bull Realty with over 10 years of sales, marketing and real estate experience. Within Bull Realty, he specializes in the acquisition and disposition of multifamily and boutique retail/office type properties in-town Atlanta. Andy Lundsberg is recognized as the top producer at Bull Realty for the last 5 years in a row with sales in excess of $100 million since 2017, and has consistently achieved the Atlanta Commercial Board of Realtors Million Dollar Club designation year after year.
Prior to his career in commercial real estate, Andy worked for a national diagnostic imaging company as director of sales and marketing, Coca Cola as a business development manager and was head of on site sales and marketing for a condominium project with a large residential real estate firm in Atlanta. With his expertise in the real estate industry and successful sales record, he can help you determine the right investment for you; whether you are looking to buy, lease or sell commercial real estate.
ANDY LUNDSBERG Andy graduated with honors from The Kelley School of Business at Indiana University where he received degrees in Marketing, Management Partner and International Studies. He also studied and lived in Seville, Spain and is conversational in Spanish. [email protected] 404-876-1640 x 107 Organizations: National Association of Realtors-Georgia Atlanta Commercial Board of Realtors Young Council of Realtors (YCR) Million Dollar Club
Michael Wess’ passion for the consultation and sale of commercial real estate begin during his undergraduate studies at the University of Georgia. He earned a 4.0 GPA at the Terry College of Business’s real estate program, consistently ranked in the top five nationally. While there, Michael also received two other degrees in finance and international business and a minor in Spanish while participating on UGA’s rugby team and various philanthropic organizations.
Michael joined Bull Realty in 2016 and began building his brokerage practice based on integrity, superior client service, and exceptional results. In 2018 alone, Michael closed 23 transactions valued at over $25,000,000, which landed him #3 of 32 brokers at the firm. Since 2018, he has recorded seven ‘highest price ever’ record sales.
MICHAEL WESS Michael continuously attends seminars, conferences, and classes to improve his knowledge of real estate, finance, and economics. He is a Commercial Real Estate Advisor pinned designee of the prestigious Certified Commercial Investment Member (CCIM) Institute, commercial real estate’s global standard for [email protected] professional achievement and is an active member of the Atlanta Commercial Board of Realtors (ACBR). 404-876-1640 x 150 When not enjoying his career, Michael continues pursuing his passions for athletics and international travel and loves a weekend camping and hiking in the north Georgia mountains. Michael is also a ‘big brother’ in the Big Brothers Big Sisters organization. He enjoys spending time with family and friends exploring the neighborhoods in and around Atlanta.
BUCKHEAD FREESTANDING RETAIL WITH PIEDMONT ROAD EXPOSURE Page 17 of 19 TEAM PROFILE
ANDY LUNDSBERG Aubri Lienemann Partner Marketing [email protected] 404-876-1640 x 107
Randee Comstock Marketing
Scott Jackson MICHAEL WESS Analyst Commercial Real Estate Advisor [email protected] 404-876-1640 x 150
BUCKHEAD FREESTANDING RETAIL WITH PIEDMONT ROAD EXPOSURE Page 18 of 19 DISCLAIMER & LIMITING CONDITIONS
Bull Realty has been retained as the exclusive listing broker to arrange the sale of the Subject Property.
This Offering Memorandum contains selected information pertaining to the Property but does not purport to be all-inclusive or to contain all of the information that a prospective purchaser may require. All financial projections are provided for general reference purposes only and are based upon assumptions relating to the general economy, competition and other factors, which therefore, are subject to material change or variation. Prospective purchasers may not rely upon the financial projections, as they are illustrative only. An opportunity to inspect the Property will be made available to qualified prospective purchasers.
In this Offering Memorandum, certain documents, including financial information, are described in summary form and do not purport to be complete or accurate descriptions of the full agreements involved, nor do they constitute a legal analysis of such documents. Interested parties are expected to review independently all documents.
This Offering Memorandum is subject to prior placement, errors, omissions, changes or withdrawal without notice and does not constitute a recommendation, endorsement or advice as to the value of the Property by Bull Realty Inc. or the current Owner/Seller. Each prospective purchaser is to rely upon its own investigation, evaluation and judgment as to the advisability of purchasing the Property described herein.
Owner/Seller expressly reserve 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 party at any time with or without notice. Owner/Seller shall have no legal commitment or obligation to any purchaser reviewing this Offering Memorandum or making an offer to purchase the Property unless a written agreement for the purchase of the Property has been fully executed, delivered and approved by the Owner/Seller and any conditions to the purchaser’s obligations therein have been satisfied or waived. The Seller reserves the right to move forward with an acceptable offer prior to the call for offers deadline.
This Offering Memorandum may be used only by parties approved by the Owner. The Property is privately offered, and by accepting this Offering Memorandum, the party in possession hereof agrees (i) to return it if requested and (ii) that this Offering Memorandum and its contents are of a confidential nature and will be held and treated in the strictest confidence. No portion of this Offering Memorandum may be copied or otherwise reproduced or disclosed to anyone without the prior written authorization of Bull Realty, Inc. or Owner/Seller. The terms and conditions set forth above apply to this Offering Memorandum in its entirety and all documents, disks and other information provided in connection therewith.
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