P a g e | 1 LAND FOR SALE 2.3947 ACRES (104,315 SF) U CHARLOTTE, NC University City UNC Charlotte Submarket High Density Development Opportunity McCullough Drive Light Rail Station Potential Mix of Uses: Apartments Retail Office Hotel Condominium Lynx Blue Line Light Rail 18.9 Total Miles 26 Total Stations Completion 2017 Bunker Land Group Dennis N. Bunker, III 704-351-9757 [email protected] www.bunkerlandgroup.com P a g e | 2 EXECUTIVE SUMMARY Bunker Land Group has been engaged to Property Overview exclusively represent the property owner in the Economic Development Overview marketing and disposition of a 2.3947-acre Lynx Blue Line Overview (104,315 square feet) tract of land at the future Lynx Blue Line Station Overview McCullough Drive Station along the Lynx Blue Line Apartment Market Overview Light Rail Extension in Charlotte, NC, scheduled Apartment Market Activity for completion in 2017. The site offers the Assemblage Opportunity opportunity to deliver a unique product to the University market with the competitive advantage of direct access to the Lynx Blue Line Light Rail. Signalized corner location adjacent to future McCullough Light Rail Station Charlotte CBD a 22-minute light rail ride away; UNC Charlotte 5 minutes away Population approximately 180,000 within a 5-mile radius No Apartments currently located at a light rail station in this submarket The site and location have the potential to support a number of uses to include apartments, retail, office, hotel, and condominiums. Schematic site plans depicting potential uses and layouts are provided on pages 4 & 5 (for illustrative purposes only). We have included market data for the apartment market in the Apartment Market Overview and Apartment Market Activity sections of this marketing package. Additionally, in the Lynx Blue Line Station Overview, we have highlighted development along the light rail line. Finally, we invite your attention to the Addenda, where you will find LINKS to articles and current events about activity related to the Lynx Blue Line. Note: Pricing of the offering "To be Determined" by the market Seller may consider a joint venture Please direct all inquiries and questions to: Dennis N. Bunker, III Bunker Land Group, LLC 704-351-9757 [email protected] Disclaimer: The enclosed materials and information are furnished for illustration purposes only. Each Buyer is expected to conduct their own due diligence and should not rely on any of the materials set forth in this package other than for illustrative purposes. P a g e | 3 SUMMARY The site offers an excellent location and physical attributes for development of a high density, transit-oriented project that contemplates the potential uses of apartments, retail, office, hotel or condominium. «««»»» The future McCullough Drive Station will be located two transit stations southwest of UNC Charlotte between two Park & Ride stations: The JW Clay Station and the University City Boulevard Station (775 parking spaces each). <<<<< PROPERTY FACTS & LINKS >>>>> Address & Location: 8302 University Executive Park Drive, Utilities: Charlotte, Mecklenburg County, NC 28262 Municipal Water, Sewer & Trash Northwest Corner of McCullough Drive @ North Tryon Street/ Link to Charlotte Mecklenburg Utilities US Highway 29; at future McCullough Drive Station on the Duke Energy Link to Duke Energy Lynx Blue Line Extension Piedmont Natural Gas: Link to Piedmont Natural Gas Tax Parcel Number: 047-211-14 Link to Property Tax Card, Link to Property Tax Map, Existing Zoning: B-1 (CD), Business, Conditional Link: Property Survey Development District Size: 2.3947 Acres; 104,315 square feet Potential Zoning: TOD -Transit Oriented Development Road Frontage & Dimensions: Residential (R) Employment (E) Mixed use (M) N. Tryon Street (262.54') McCullough Drive (417.69') Link Charlotte Zoning Ordinance University Executive Park Drive (327.88', private) Section 9 TOD Fourth side contiguous to adjacent property Link Zoning Administration (373.12'- no road frontage) Sonja Strayhorn Sanders 704-336-8327 Link University City Area Plan May 2015 Traffic Counts: 27,000 VPD - N. Tryon St. @ McCullough Drive McCullough Station Pages 40-43, 90-91 Link Charmeck Area Planning Existing Improvements: 8,587-square foot, single-story Amanda Vari 704-336-5718 masonry building formerly a restaurant P a g e | 4 SCHEMATIC SITE PLAN- APARTMENTS & RETAIL P a g e | 5 SCHEMATIC SITE PLAN- APARTMENTS, OFFICE, RESTAURANT/RETAIL P a g e | 6 ECONOMIC DEVELOPMENT OVERVIEW Charlotte, NC MSA The Charlotte, NC MSA is the largest in the Carolinas and the fifth largest metropolitan area in the Southeastern region of the United States. The Charlotte metro area is headquarters to eight Fortune 500 and seven Fortune 1000 companies including Bank of America, Duke Energy, Nucor Steel, Sealed Air, Sonic Automotive and Lowe’s. The Charlotte Douglas International Airport ranks sixth in the world based on the volume of passengers and flights, and is the eighth largest airport in the nation based on passenger totals. There are over 20 colleges and universities in the Charlotte MSA. Source: Charlotte Chamber of Commerce (September 2015) University City University City is anchored in education. This employment center has a daytime workforce of 75,000 in businesses that range from energy and finance to healthcare, technology, and back office. Three large office parks offer office space to meet the business needs of Fortune 500 businesses, entrepreneurs and start-ups. The University Research Park is one of the nation’s largest research parks with 2,200 acres and 10 million square feet of office space. UNC Charlotte and CMC University Hospital anchor University City and provide immediate access to research, talent and medical amenities. University City has access to a solid network of interstates (I-85, I-485 and I-77), two nearby airports, and will benefit from the projected 2017 completion of the Lynx Blue Line Extension. Source: University City Partners (September 2015) University of North Carolina Charlotte The University of North Carolina at Charlotte provides direct access to a highly educated workforce. The University granted over 6,000 degrees in 2014. UNC Charlotte currently has over 27,000 students enrolled, and currently offers 21 Doctoral, 64 Masters, and 80 Bachelor’s degree programs through seven colleges. The 2020 Plan for the University projects a student population of 35,000. These graduates eagerly fill Charlotte’s workforce pipeline in the fields of energy, engineering, finance, real estate, education, healthcare, computer and data analytics. Finally, the University is in the early stages of determining the feasibility of a convention hotel and conference center on approximately four acres owned by the University Foundation at the JW Clay Station (one stop northeast of the site). Source: University City Partners, Charlotte Chamber of Commerce, UNC Charlotte (September 2015) University City 2015 1 MILE 3 MILE 5 MILE Major Employers Wells Fargo Red Ventures Population 2,982 74,216 179,326 TIAA Cref Duke Energy Allstate OnStar Households 1,268 28,161 67,772 Rackroom Shoes The Charlotte Observer Electrolux Merck Population Growth Rate 2.01% 2.51% 2.59% UNC Charlotte McKesson (2015-2020 Annual Rate) AT&T Verizon Source: Site to Do Business (STDB), University City Partners (September 2015) P a g e | 7 LYNX BLUE LINE OVERVIEW The Lynx Blue Line is the region’s first light rail service. Currently, it runs from Pineville, which is south of Charlotte at I-485 and South Boulevard, to the Charlotte CBD. Upon completion of the Blue Line Extension, the light rail will extend through North Charlotte and terminate on the UNC Charlotte campus. Lynx Blue Line Facts 9.3 Miles Under Construction 9.6 Miles in Operation Charlotte CBD -> UNC Charlotte Pineville -> Charlotte CBD Completion 2017 15 Stations 11 Stations Under Construction 7 Park & Rides in Service Including 4 Park & Rides McCullough Station will be located adjacent to the site Between 2 Park & Rides & 2 stops southwest of UNC Charlotte Ridership Projections by 2035: Development Projections by 2035: Blue Line Extension: 24,500 weekday riders Over 10,000 new housing units Existing Blue Line: 26,500 weekday riders Over 3.8 million square feet of new office Total Blue Line: 51,000 weekday riders Over 1.3 million square feet of new retail Station SITE Park & Rides Transit Stations P a g e | 8 LYNX BLUE LINE STATION OVERVIEW Development Activity along the Lynx Blue Line – Existing & Proposed (A) Scaleybark Station (G) 9th Street Station Pappas Properties - Proposing 224 MF units, 40,000-60,000 SF office, 16,000 SF Levine Properties - Developing 264 MF units, two hotels, office and First Ward retail on 23 acres; Park (B) New Bern Street Station (H) Parkwood Station Proffitt Dixon - Developed Fountains Southend, 208 MF units built in 2013; Beauxwright - Proposing 50 MF units; Silos Southend -390 MF units built in 2013-2015; Junction 1504 - 281 MF units built in 2012 ; (I) 25th Street Station Former Sedgefield Shopping Center Site: Marsh Properties developing a Harris Southern Apartment Group - Proposing 250 MF units and retail; Teeter and proposing multi-family, retail, office; Former Pepsi Site - Lennar Multifamily proposing a mixed-use development (J) 36th Street Station (C) East/West Blvd. Station Crescent Resources – Proposing 350 MF units, potential hotel and boutique grocer; Park & Kingston – 153 MF units built in 2014; Camden Properties – Developing Camden Gallery, 323 MF units under