325 ralph d. abernathy bov - loopnet · 2017-03-16 · 325 ralph d. abernathy blvd. is a .30 acre...
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ATLANTA, GA
OFFERING MEMORANDUM
CONFIDENTIALITY AND DISCLAIMER
The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Marcus & Millichap and should not be made available to any other person or entity without the written consent of Marcus & Millichap. This Marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. Marcus & Millichap has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB's or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable; however, Marcus & Millichap has not verified, and will not verify, any of the information contained herein, nor has Marcus & Millichap conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein.
ATLANTA, GA
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NON-ENDORSEMENT NOTICE
Section 1 PRICING AND FINANCIAL ANALYSIS
Section 2 PROPERTY DESCRIPTION
Section 3 RECENT SALES
Section 4 ON MARKET COMPARABLES
Section 5 MARKET OVERVIEW
Section 6 DEMOGRAPHIC ANALYSIS
TABLE OF CONTENTS
ATLANTA, GA
PRICING AND FINANCIAL ANALYSIS
PRICING AND FINANCIAL ANALYSIS325 RALPH D. ABERNATHYATLANTA, GA
Summary
Property 325 RALPH D. ABERNATHY
Property Address 325 RALPH D. ABERNATHY
Atlanta, GA 30312
Price $410,000
Lot Size (SF) 13,100
Lot Size (Acres) 0.3000
Price/Acre $1,366,667
` 13,100
Number Of Lots 1
Price/Lot $410,000
Type of Ownership Fee Simple
This information has been secured from sources we believe to be reliable, but we make no representations or warranties,expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer mustverify the information and bears all risk for any inaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap RealEstate Investment Services of Atlanta, Inc. © 2017 Marcus & Millichap. All rights reserved.
Financing
FIRST TRUST DEED
Loan Type All Cash
FINANCIAL OVERVIEW
ATLANTA, GA
PROPERTY DESCRIPTION
Marcus & Millichap presents 325 Ralph D. Abernathy Blvd. a .30 acre lot situated at the hard corner of a signalized intersection in the
dense, proximate, and walkable corridor of Ralph D. Abernathy Blvd.
Previously a corridor that served as game day parking for the Atlanta Braves and other events, Ralph D. Abernathy Blvd. exemplifies the
creation of value through density, walkability, and proximity to the transformational Georgia State re-development of Turner Field.
Centrally located to the interstate, transformational re-development, job centers, and neighborhoods, the Ralph D. Abernathy corridor will
receive value from the development of 66 single family homes for affordable housing on or near the main corridor.
Sitting on the same corridor and a short walk away, the re-development of Turner Field presents the possibility to transform 1,700 acres
making up 5 neighborhoods. In 2017, the Atlanta Braves will start the season at their new home SunTrust Park, located in Marietta GA.
Georgia State University and Carter, Oakwood Development, and Healey Weatherholtz Properties, its development partners, will re-
develop Turner Field. Presently, the re-development includes the conversion of Turner Field into a football stadium for the Georgia State
Panthers' 2017 season, student housing with 850 beds, and multi-family with 200 units and retail. Over the next decade, the future
possibility for value includes the development of a baseball stadium, student housing, work force housing, mixed use, transit, street grids,
and parks. The Turner Field re-development presents the possibility of generating $ 1 billion of investment.
325 Ralph D. Abernathy Blvd. is positioned to create value for the development of future single or multi-tenant retail.
Investment Highlights
■ Former Local Retail Corner Lot at Signalized Intersection and .2 Miles fromI-75/I-85 with Traffic Counts of 295,000.
■ Situated less than .2 miles from the Georgia State/Turner Field Re-development of 68 Acres Projected to Generate $ 1 Billion of Investment.
■ Within 1 Mile of Downtown Atlanta, Major Corridors, and MARTA
■ 1 Mile from Georgia State University, Grady Hospital, and the Offices of theFederal Government, State of Georgia, Fulton County, and City of Atlanta.
■ Walking distance from 3 Historic Single Family Neighborhoods on BothSides of the Georgia State University/Turner Field Re-development
■ 66 Single Family Homes to be Delivered on or near the Ralph D. Abernathycorridor.
■ Population Density over 18,000 within 1 mile, 148,000 within 3 miles andover 318,000 within 5 miles.
■ Opportunity to Create Value in Growth Corridor with Average HHI over $65,000 and Anticipated Median Income Growth of 15 % by 2019.
PROPERTY DESCRIPTION325 RALPH D. ABERNATHYATLANTA, GA
This information has been secured from sources we believe to be reliable, but we make no representations or warranties,expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer mustverify the information and bears all risk for any inaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap RealEstate Investment Services of Atlanta, Inc. © 2017 Marcus & Millichap. All rights reserved.
INVESTMENT OVERVIEW
325 Ralph D. Abernathy Blvd. is a .30 acre lot (13,100 SF) sitting at the hard corner of a signalized intersection. This asset has
184 ft. of frontage along Ralph D. Abernathy Blvd. and has 3 points of ingress/egress. It presents the opportunity to develop
retail and create value on a corridor with density, proximity, and walkability.
With a population over 18,000 within 1 mile and over 148,000 within 3 miles, the development of retail on this lot will
leverage density, proximity, and walkability to a number of market drivers. It sits within a mile of major job centers: Georgia
State University, Grady Hospital, and the offices of the Federal Government, State of Georgia, Fulton County, and Atlanta. It
sits within walking distance to Georgia State's 68 acre re-development of Turner Field. It sits within walking distance of 3
historic downtown Atlanta neighborhoods, Mechanicsville, Summer Hill, and Grant Park. It sits a short drive from the
entrance/exit to I-75/I-85 where the traffic count is over 295,000 cars a day. It is within a 1 mile radius of 2 MARTA transit
stations. Future development of this lot will serve and benefit from a growing diverse and millenial driven demographic with an
average age of 32 years, average HHI over $ 65,000, and anticipated median income growth of 15 % by 2019. Additionally,
this asset sits a mile from the explosive growth and traffic from Memorial Dr., which is set to receive $ 1 billion of
development in the form of 26 projects.
Any future retail development on 325 Ralph D. Abernathy Blvd. will flourish from the surrounding density, proximity, and
walkability.
PROPERTY DESCRIPTION325 RALPH D. ABERNATHYATLANTA, GA
This information has been secured from sources we believe to be reliable, but we make no representations or warranties,expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer mustverify the information and bears all risk for any inaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap RealEstate Investment Services of Atlanta, Inc. © 2017 Marcus & Millichap. All rights reserved.
INVESTMENT OVERVIEW
PROPERTY DESCRIPTION325 RALPH D. ABERNATHYATLANTA, GA
This information has been secured from sources we believe to be reliable, but we make no representations or warranties,expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer mustverify the information and bears all risk for any inaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap RealEstate Investment Services of Atlanta, Inc. © 2017 Marcus & Millichap. All rights reserved.
SURROUNDING DEVELOPMENT
66 NEW SINGLE FAMILY HOMES
PROPERTY DESCRIPTION325 RALPH D. ABERNATHYATLANTA, GA
This information has been secured from sources we believe to be reliable, but we make no representations or warranties,expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer mustverify the information and bears all risk for any inaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap RealEstate Investment Services of Atlanta, Inc. © 2017 Marcus & Millichap. All rights reserved.
PRESENT RETAIL
PROPERTY DESCRIPTION325 RALPH D. ABERNATHYATLANTA, GA
This information has been secured from sources we believe to be reliable, but we make no representations or warranties,expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer mustverify the information and bears all risk for any inaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap RealEstate Investment Services of Atlanta, Inc. © 2017 Marcus & Millichap. All rights reserved.
PROXIMATE JOB CENTERS
PROXIMATE JOB CENTERSNUMBERS
Delta Airlines 27,335
COCA-COLA 8,000
CNN 6,770
Grady Health System 4,932
AT&T 3,003
Hughes Spalding Childrens Hosp 3,000
Georgia-Pacific 2,857
Turner Broadcasting System Inc 2,820
Delta Technology LLC 2,760
Emory Crawford Long Hospital 2,500
Forscom Intelligence Ops 2,500
City of Atlanta 2,432
PROPERTY DESCRIPTION325 RALPH D. ABERNATHYATLANTA, GA
This information has been secured from sources we believe to be reliable, but we make no representations or warranties,expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer mustverify the information and bears all risk for any inaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap RealEstate Investment Services of Atlanta, Inc. © 2017 Marcus & Millichap. All rights reserved.
TURNER FIELD RE-DEVELOPMENT
PROPERTY DESCRIPTION325 RALPH D. ABERNATHYATLANTA, GA
This information has been secured from sources we believe to be reliable, but we make no representations or warranties,expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer mustverify the information and bears all risk for any inaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap RealEstate Investment Services of Atlanta, Inc. © 2017 Marcus & Millichap. All rights reserved.
MEMORIAL DR. DEVELOPMENT
26 PROJECTS
Memorial Drive Linear Park, Capitol Gateway A, Grant Park Apartments, The George Apartments, The Leonard Apartments, MARTA’s King Memorial Station, Capitol Gateway B, The Parker Apartments, Larkin on Memorial, Walter Davis Project, The Cube, Brother Moto, Grindhouse Killer Burgers, Charles Tate Project, Urban Realty Partners Project, Habitat for Humanity HQ, Atlanta Dairies, 841 Memorial, The Lofts at Reynoldstown Crossing, Leggett and Plat, The Heritage on Memorial, Urban Realty Partners Project (Wonder Root)
PROPERTY DESCRIPTION325 RALPH D. ABERNATHYATLANTA, GA
This information has been secured from sources we believe to be reliable, but we make no representations or warranties,expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer mustverify the information and bears all risk for any inaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap RealEstate Investment Services of Atlanta, Inc. © 2017 Marcus & Millichap. All rights reserved.
PERTINENT ARTICLES
From the Atlanta Business Chronicle:
First look at Turner Field's FutureJan 10, 2017, 2:51 p.m. EST
Days after buying Turner Field, Atlanta real estate company Carter andGeorgia State University have released new images of the project,along with their vision for the sweeping redevelopment.
The 68-acre site includes Turner Field - where the Atlanta Bravesplayed until last fall - and surrounding properties along Hank AaronDrive and Georgia Avenue, where the majority of the project will befocused.
Georgia State intends to transform the area into a sports complex.
It wants to have Turner Field renovated in time for its 2017 football season. The first phase of that work begins next month. More extensive renovations could take another two years.
GSU will also redevelop the site of the old Atlanta-Fulton County Stadium, where the school will put its baseball field. That could happen in about two years, pending state approval.
Over time, GSU president Mark Becker also wants to see acres and acres of parking turned into a mixed-use environment.
“The future of this area is not going to be massive parking lots,” Becker said.
Carter, along with Oakwood Development and Healey Weatherholtz Properties, is focused on remaking Hank Aaron Drive and Georgia Avenue into boulevards lined with new projects, including street-level retail.
The hope is one day that light rail would extend down Hank Aaron Drive from downtown, and plans show a proposed transit stops at theintersection of Fulton Street and Hank Aaron Drive, along with near Turner Field.
The first step for Carter: a new 850-bed student housing project just north of Turner Field. Carter wants to break ground by the end of the year.
It also plans a 200-unit apartment building along Hank Aaron Drive, with 10 percent of those units dedicated to workforce housing.
Carter and its team will likely close next week on an additional seven aging retail buildings along Georgia Avenue, which it plans to fill with local businesses such as restaurants and a coffee shop. Read more about the property here.
Carter President Scott Taylor said those buildings offer an authenticity retailers are looking for. He hopes to find tenants that speak to “the soul and spirit of Summerhill,” referring to the neighborhood where Turner Field was built.
Carter’s guide in planning the redevelopment has been the Turner Field Livable Centers Initiative (LCI), which would transform 1,700 acres and five neighborhoods surrounding Turner Field with new student housing, parks and transit. Taking place over the next decade, it could end up as one of the city’s largest-ever urban renewal projects.
“We want to be very respectful to the LCI process,” Taylor said. “None of our plans exactly reflect (the LCI), but they are components -greenspace, paying homage to the history of the site, retail, street-grids, sustainable development.”
There’s also a wildcard - landing a major employer that wants to put its office space along Hank Aaron Drive. That hope foreshadows just how stark the transformation of the area, including neighborhoods, might be.
PROPERTY DESCRIPTION325 RALPH D. ABERNATHYATLANTA, GA
This information has been secured from sources we believe to be reliable, but we make no representations or warranties,expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer mustverify the information and bears all risk for any inaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap RealEstate Investment Services of Atlanta, Inc. © 2017 Marcus & Millichap. All rights reserved.
PERTINENT ARTICLES
“Were it the case that a Fortune 100 company comes to Carter and says we need a million square feet of office … then we’ll just have to see how the corporate interests in these sites plays out,” Becker said.
PROPERTY DESCRIPTION325 RALPH D. ABERNATHYATLANTA, GA
This information has been secured from sources we believe to be reliable, but we make no representations or warranties,expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer mustverify the information and bears all risk for any inaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap RealEstate Investment Services of Atlanta, Inc. © 2017 Marcus & Millichap. All rights reserved.
PERTINENT ARTICLES
From the Atlanta Business Chronicle
Shops, restaurants planned near Turner FieldNov 18, 2016, 10:03am EST
Developers could bring life to a collection of dormant, graffiti-coveredbuildings by Turner Field - helping fulfill a long-awaited promise tospark investment in neighborhoods around the ballpark.
The team of private developers working with Georgia State Universityto redevelop 67 acres including Turner Field and its sprawling parkinglots could acquire additional property in the Summerhill neighborhoodof Atlanta.
A joint venture of Carter, Oakwood Development and HealeyWeatherholtz Properties has nearly 5 additional acres under contractthat includes more than 40 parcels along Hank Aaron Drive and GeorgiaAvenue, according to sources familiar with the deal.
Several low-rise buildings, mostly along Georgia Avenue, could be renovated and filled with new shops andrestaurants, with the hope of breathing life into an area that has long lacked retail options and has been cutoff from the economic activity in the city’s core for decades.
The parcels are owned by the Federal Deposit Insurance Corporation, which foreclosed on the land fromCapitol City Bank & Trust.
Scott Taylor, president of Carter, declined to comment on the acquisition.
The deal comes as the Carter, Oakwood and Healey Weatherholtz team continues to polish its broader master plan for the Turner Field area, which could include new student housing and retail such as a grocery store. Acquiring more land could give the team control of a critical corner, along with the ability to get started on reviving the area immediately.
“More than anything, it shows the long-term commitment to the area that Carter has,” said Suzanne Mitchell, president of the Organized Neighbors of Summerhill. “They are committed to the fabric of the community ... It really is moving forward with a nod to the past.”
Atlanta Mayor Kasim Reed has said the deal to sell Turner Field to Georgia State and its development team for $30 million should close by the end of the year. The Atlanta Braves played their last game at the stadium in October.
Filling the buildings along Georgia Avenue with new tenants, such as a funky coffee shop or local restaurant, could create a walkable district with a similar vibe to East Atlanta Village or Castleberry Hill.
Up-and-coming local retailers and restaurateurs could find it a compelling option as retail rents surge in popular intown neighborhoods such as Inman Park and Old Fourth Ward.
The structures along Georgia Avenue offer what many tenants today are seeking - authentic buildings with history and character. One of the best examples of this is at Ponce City Market, where the converted Sears, Roebuck and Co. building now is filled with new concepts from top chefs and retailers.
Take what the company did at Buckhead’s Shops Around Lenox. Once a bland suburban shopping center, Healey Weatherholtz added murals from Atlanta street artists and brought in trendy retailers including American Apparel and fab’rik, along with local restaurants Seven Lamps and Bhojanic. It later sold Shops Around Lenox for nearly $72 million, a record price at the time.
A joint venture of Carter, Oakwood Development and Healey Weatherholtz Properties has nearly 5 acres under
PROPERTY DESCRIPTION325 RALPH D. ABERNATHYATLANTA, GA
This information has been secured from sources we believe to be reliable, but we make no representations or warranties,expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer mustverify the information and bears all risk for any inaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap RealEstate Investment Services of Atlanta, Inc. © 2017 Marcus & Millichap. All rights reserved.
PERTINENT ARTICLES
“I think they can do a fine job with intown local retailers and restaurateurs that are looking for authentic buildings and reasonable rents,” said Atlanta retail expert George Banks, who this year launched Revel, a new retail consulting and development firm, with partner Kristi Rooks. “It allows them to create a sense of place immediately.”
The efforts along Georgia Avenue aren’t without their challenges, as questions linger as to whether there’s enough buying power in the immediate area to sustain new retail.
But, with the surge of development along Memorial Drive, including several projects from Krog Street Market developer Paces Properties, it’s widely agreed that new investment is pushing west from Grant Park.
“It’s directly in the path of good things,” Banks said. “It’s only a matter of time.”
Carter, Oakwood and Healey Weatherholtz’s strategy near Turner Field parallels another developer’s efforts in downtown.
The South Carolina developer that’s trying to acquire and remake Underground Atlanta just scooped up nine more south downtown properties that have been languishing for years. WRS Inc. recently paid almost $10 million for multiple properties including 74, 73, 70, 64, 57 and 55 Peachtree Street, along with 98, 96 and 60 Broad Street, according to Fulton County records. The collection of row-style buildings once made up the heart of downtown’s retail district. Today, some of the buildings are part of an emerging artists’ district on Broad Street.
WRS would renovate the buildings and bring in new ground-floor retailers.
“This section of Peachtree has much greater potential than what you see today,” Kevin Rogers with WRS said in an October interview with Atlanta Business Chronicle.
PROPERTY DESCRIPTION325 RALPH D. ABERNATHYATLANTA, GA
This information has been secured from sources we believe to be reliable, but we make no representations or warranties,expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer mustverify the information and bears all risk for any inaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap RealEstate Investment Services of Atlanta, Inc. © 2017 Marcus & Millichap. All rights reserved.
PERTINENT ARTICLES
City of Atlanta Celebrates Launch of Mechanicsville Cityside Project
News Release
City of Atlanta Celebrates Launch of Mechanicsville Cityside Project
Initiative aims to create homeownership opportunities for low-income families
ATLANTA - Mayor Kasim Reed and the Department of Planning and Community Development announced today the launch of the Mechanicsville Cityside initiative, the first scattered site development in the City of Atlanta. The project offers newly-built or renovated homes with affordable rents for working families. During a ribbon-cutting ceremony for Mechanicsville Cityside, Mayor Reed was joined by Georgia Department of Community Affairs Commissioner Camila Knowles, Department of Planning and Community Development Commissioner Tim Keane, SUMMECH Development Corporation Executive Director Janis Ware and Atlanta City Councilmember Cleta Winslow.
“Partnerships between the City, the State and the private sector are essential tools for creating quality, affordable housing options and opportunities in every neighborhood in Atlanta,” said Mayor Kasim Reed. “This new program will offer housing stability for more than70 families, and help make the dream of homeownership a reality.”
The Mechanicsville Cityside development aims to provide homeownership opportunities for low-income families. The families will rent the units for the first fifteen years of occupancy, and will then have the opportunity to purchase the home. Scattered site developments distribute affordable housing units in income-diverse neighborhoods, promoting greater economic inclusion. The Cityside development is spread over one square mile of land in the southeast Atlanta neighborhood.
“Thanks to the leadership of Mayor Reed, the Department of Planning and Community Development was able to take a lead role in establishing the partnership between the State of Georgia, SUMMECH CDC and Columbia Residential for this critical project,” said Commissioner Tim Keane, Department of Planning and Community Development. “We believe that this scattered site development in Atlanta will be an example for other municipalities to follow. It promotes affordability in communities that need it the most.”
The project consists of 66 new construction, single family homes being built on acquired vacant land and on land where formerly vacant single-family homes were demolished. Eight single family homes will be renovated for occupancy. Currently, seven homes are completed.
“This scattered site development is bringing a concentration of new homes to Mechanicsville that is spurring new investment in the community,” said Janis Ware, Executive Director of SUMMECH CDC. “SUMMECH is very excited about the possibilities and proud to be a partner in this venture.”
“We truly believe this scattered site initiative will have a positive impact on this deserving community,” said Noel Khalil, Chairman and Founder of Columbia Residential. “The value of the new and even the existing homes are increasing with this initiative, and we’re going to be able to see the benefits of this scattered site throughout the area.”
Funding for Mechanicsville Cityside is provided by the U.S. Department of Housing and Urban Development Low Income Housing Tax
PROPERTY DESCRIPTION325 RALPH D. ABERNATHYATLANTA, GA
This information has been secured from sources we believe to be reliable, but we make no representations or warranties,expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer mustverify the information and bears all risk for any inaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap RealEstate Investment Services of Atlanta, Inc. © 2017 Marcus & Millichap. All rights reserved.
SITE PHOTO
PROPERTY DESCRIPTION325 RALPH D. ABERNATHYATLANTA, GA
This information has been secured from sources we believe to be reliable, but we make no representations or warranties,expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer mustverify the information and bears all risk for any inaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap RealEstate Investment Services of Atlanta, Inc. © 2017 Marcus & Millichap. All rights reserved.
ABERNATHY CORRIDOR MAP
PROPERTY DESCRIPTION325 RALPH D. ABERNATHYATLANTA, GA
This information has been secured from sources we believe to be reliable, but we make no representations or warranties,expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer mustverify the information and bears all risk for any inaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap RealEstate Investment Services of Atlanta, Inc. © 2017 Marcus & Millichap. All rights reserved.
FUTURE DEVELOPMENT MAP
PROPERTY DESCRIPTION325 RALPH D. ABERNATHYATLANTA, GA
This information has been secured from sources we believe to be reliable, but we make no representations or warranties,expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer mustverify the information and bears all risk for any inaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap RealEstate Investment Services of Atlanta, Inc. © 2017 Marcus & Millichap. All rights reserved.
PROXIMITY MAP
Local Map Regional Map
PROPERTY DESCRIPTION325 RALPH D. ABERNATHYATLANTA, GA
This information has been secured from sources we believe to be reliable, but we make no representations or warranties,expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer mustverify the information and bears all risk for any inaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap RealEstate Investment Services of Atlanta, Inc. © 2017 Marcus & Millichap. All rights reserved.
AREA MAPS
ATLANTA, GA
RECENT SALES
1)2)3)4)5)6)7)8)9)
325 RALPH D. ABERNATHY419627985742EDGEWOOD800DEKALB260125
RECENT SALES325 RALPH D. ABERNATHYATLANTA, GA
This information has been secured from sources we believe to be reliable, but we make no representations or warranties,expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer mustverify the information and bears all risk for any inaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap RealEstate Investment Services of Atlanta, Inc. © 2017 Marcus & Millichap. All rights reserved.
RECENT SALES MAP
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419 627 985 742 EDGEWOOD 800 DEKALB 260 125 350
AVERAGE PRICE/ACRE
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Subject 419 627 985 742 EDGEWOOD 800 DEKALB 260 125 350
RECENT SALES325 RALPH D. ABERNATHYATLANTA, GA
This information has been secured from sources we believe to be reliable, but we make no representations or warranties,expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer mustverify the information and bears all risk for any inaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap RealEstate Investment Services of Atlanta, Inc. © 2017 Marcus & Millichap. All rights reserved.
AVERAGE PRICE/SF
PRICE PER SF AND PRICE PER ACRE
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2
419419 GARTRELL ST.
Atlanta, GA 30312
627627 IRWIN ST.
Atlanta, GA 30312
325 RALPH D. ABERNATHY325 RALPH D. ABERNATHY BLVD.Atlanta, GA 30312
Subject Property
Close of Escrow: 3/18/2014 Lot Size (SF): 28,619
Sale Price: $432,500 Price/SF: $15.11
Down Payment: Lot Size (Acres): 0.6600
Down Payment %: Price/Acre: $655,303
Zoning: MR3 Lot Dimensions:
Close of Escrow: 7/31/2014 Lot Size (SF): 31,363
Sale Price: $1,000,000 Price/SF: $31.88
Down Payment: Lot Size (Acres): 0.7200
Down Payment %: Price/Acre: $1,388,889
Zoning: Lot Dimensions:
RECENT SALES325 RALPH D. ABERNATHYATLANTA, GA
This information has been secured from sources we believe to be reliable, but we make no representations or warranties,expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer mustverify the information and bears all risk for any inaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap RealEstate Investment Services of Atlanta, Inc. © 2017 Marcus & Millichap. All rights reserved.
RECENT SALES
Sale Price: $410,000 Lot Size (SF): 13,100
Down Payment: Lot Size (Acres): 0.3000
Down Payment %: Price/Acre: $1,366,667
Zoning: Lot Dimensions:
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4
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742742 MEMORIAL DR.
Atlanta, GA 30316
EDGEWOODEDGEWOOD@PIEDMONT AVE.
Atlanta, GA 30303
985985 MEMORIAL DR.
Atlanta, GA 30316
Close of Escrow: 4/13/2015 Lot Size (SF): 43,560
Sale Price: $1,100,000 Price/SF: $25.25
Down Payment: Lot Size (Acres): 1.0000
Down Payment %: Price/Acre: $1,100,000
Zoning: HC20A SA5 Lot Dimensions:
Close of Escrow: 10/28/2014 Lot Size (SF): 54,450
Sale Price: $1,050,000 Price/SF: $19.28
Down Payment: Lot Size (Acres): 1.2500
Down Payment %: Price/Acre: $840,000
Zoning: C1 Lot Dimensions:
RECENT SALES
Close of Escrow: 5/26/2015 Lot Size (SF): 31,733
Sale Price: $707,640 Price/SF: $22.30
Down Payment: Lot Size (Acres): 0.7200
Down Payment %: Price/Acre: $982,833
Zoning: SPI1 Lot Dimensions:
325 RALPH D. ABERNATHYATLANTA, GA
This information has been secured from sources we believe to be reliable, but we make no representations or warranties,expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer mustverify the information and bears all risk for any inaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap RealEstate Investment Services of Atlanta, Inc. © 2017 Marcus & Millichap. All rights reserved.
RECENT SALES
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7
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DEKALBDEKALB AVE. N E
Atlanta, GA 30307
260260 GIBSON ST.
Atlanta, GA 30316
800800 GLENWOOD AVE
Atlanta, GA 30316
Close of Escrow: 12/4/2015 Lot Size (SF): 73,181
Sale Price: $1,150,000 Price/SF: $15.71
Down Payment: Lot Size (Acres): 1.6800
Down Payment %: Price/Acre: $684,524
Zoning: RG3 Lot Dimensions:
Close of Escrow: 7/24/2015 Lot Size (SF): 101,016
Sale Price: $3,000,000 Price/SF: $29.70
Down Payment: Lot Size (Acres): 2.3200
Down Payment %: Price/Acre: $1,293,103
Zoning: R Lot Dimensions:
Close of Escrow: 3/21/2016 Lot Size (SF): 47,916
Sale Price: $1,850,000 Price/SF: $38.61
Down Payment: Lot Size (Acres): 1.1000
Down Payment %: Price/Acre: $1,681,818
Zoning: R5 Lot Dimensions:
RECENT SALES325 RALPH D. ABERNATHYATLANTA, GA
This information has been secured from sources we believe to be reliable, but we make no representations or warranties,expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer mustverify the information and bears all risk for any inaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap RealEstate Investment Services of Atlanta, Inc. © 2017 Marcus & Millichap. All rights reserved.
RECENT SALES
9
10 350350 MEMORIAL DR.
Atlanta, GA 30312
125125 MORELAND AVE.
Atlanta, GA 30316
Close of Escrow: Lot Size (SF): 9,450
Sale Price: $656,000 Price/SF: $69.42
Down Payment: Lot Size (Acres): 0.2100
Down Payment %: Price/Acre: $3,123,810
Zoning: C3 Lot Dimensions:
Close of Escrow: 6/8/2016 Lot Size (SF): 26,572
Sale Price: $765,000 Price/SF: $28.79
Down Payment: Lot Size (Acres): 0.6100
Down Payment %: Price/Acre: $1,254,098
Zoning: MR4AC Lot Dimensions:
RECENT SALES325 RALPH D. ABERNATHYATLANTA, GA
This information has been secured from sources we believe to be reliable, but we make no representations or warranties,expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer mustverify the information and bears all risk for any inaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap RealEstate Investment Services of Atlanta, Inc. © 2017 Marcus & Millichap. All rights reserved.
RECENT SALES
ATLANTA, GA
ON MARKET COMPARABLES
1)2)3)4)
325 RALPH D. ABERNATHY489175313WALTHALL
ON MARKET COMPARABLES325 RALPH D. ABERNATHYATLANTA, GA
This information has been secured from sources we believe to be reliable, but we make no representations or warranties,expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer mustverify the information and bears all risk for any inaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap RealEstate Investment Services of Atlanta, Inc. © 2017 Marcus & Millichap. All rights reserved.
ON MARKET COMPARABLES MAP
0.00
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489 175 313 WALTHALL 641 465 346
AVERAGE PRICE/ACRE
0
1,000,000
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Subject 489 175 313 WALTHALL 641 465 346
ON MARKET COMPARABLES325 RALPH D. ABERNATHYATLANTA, GA
AVERAGE PRICE/SF
This information has been secured from sources we believe to be reliable, but we make no representations or warranties,expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer mustverify the information and bears all risk for any inaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap RealEstate Investment Services of Atlanta, Inc. © 2017 Marcus & Millichap. All rights reserved.
PRICE PER SF AND PRICE PER ACRE
2
1 489489 PEACHTREE ST. N E
Atlanta, GA 30308
175175 PEACHTREE ST. S W
Atlanta, GA 30309
325 RALPH D. ABERNATHY325 RALPH D. ABERNATHY BLVD.
Atlanta, GA 30312
Subject Property
Close of Escrow: Lot Size (SF): 40,785
List Price: $5,800,000 Price/SF: $142.21
Down Payment: Lot Size (Acres): 0.9400
Down Payment %: Price/Acre: $6,170,213
Zoning: SPI-1 Lot Dimensions:
Close of Escrow: Lot Size (SF): 11,200
List Price: $2,240,000 Price/SF: $200.00
Down Payment: Lot Size (Acres): 0.2600
Down Payment %: Price/Acre: $8,615,385
Zoning: SPI-1 Lot Dimensions:
ON MARKET COMPARABLES325 RALPH D. ABERNATHYATLANTA, GA
Sale Price: $410,000 Lot Size (SF): 13,100
Down Payment: Lot Size (Acres): 0.3000
Down Payment %: Price/Acre: $1,366,667
Zoning: Lot Dimensions:
This information has been secured from sources we believe to be reliable, but we make no representations or warranties,expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer mustverify the information and bears all risk for any inaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap RealEstate Investment Services of Atlanta, Inc. © 2017 Marcus & Millichap. All rights reserved.
ON MARKET COMPARABLES
3
4
5
WALTHALLWALTHALL AND ARKWRIGHT
Atlanta, GA 30316
641641 MEMORIAL DR.
Atlanta, GA 30312
313313 HILL ST.
Atlanta, GA 30312
Close of Escrow: Lot Size (SF): 40,000
List Price: $900,000 Price/SF: $22.50
Down Payment: Lot Size (Acres): 0.9200
Down Payment %: Price/Acre: $978,261
Zoning: R5 Lot Dimensions:
Close of Escrow: Lot Size (SF): 22,089
List Price: $1,400,000 Price/SF: $63.38
Down Payment: Lot Size (Acres): 0.5100
Down Payment %: Price/Acre: $2,745,098
Zoning: Lot Dimensions:
ON MARKET COMPARABLES325 RALPH D. ABERNATHYATLANTA, GA
Close of Escrow: Lot Size (SF): 4,792
List Price: $345,000 Price/SF: $71.99
Down Payment: Lot Size (Acres): 0.1100
Down Payment %: Price/Acre: $3,136,364
Zoning: SP122 Lot Dimensions:
This information has been secured from sources we believe to be reliable, but we make no representations or warranties,expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer mustverify the information and bears all risk for any inaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap RealEstate Investment Services of Atlanta, Inc. © 2017 Marcus & Millichap. All rights reserved.
ON MARKET COMPARABLES
7
6
346346 PETERS ST.
Atlanta, GA 30313
465465 GLENN ST.
Atlanta, GA 30312
Close of Escrow: On Market Lot Size (SF): 12,545
List Price: $295,000 Price/SF: $23.52
Down Payment: Lot Size (Acres): 0.2900
Down Payment %: Price/Acre: $1,017,241
Zoning: Lot Dimensions:
Close of Escrow: Lot Size (SF): 23,958
List Price: $295,000 Price/SF: $12.31
Down Payment: Lot Size (Acres): 0.5500
Down Payment %: Price/Acre: $536,364
Zoning: SPI-18 Lot Dimensions:
ON MARKET COMPARABLES325 RALPH D. ABERNATHYATLANTA, GA
This information has been secured from sources we believe to be reliable, but we make no representations or warranties,expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer mustverify the information and bears all risk for any inaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap RealEstate Investment Services of Atlanta, Inc. © 2017 Marcus & Millichap. All rights reserved.
ON MARKET COMPARABLES
ATLANTA, GA
MARKET OVERVIEW
MARKET OVERVIEW325 RALPH D. ABERNATHYATLANTA, GA
Geography
The Atlanta metro is nestled in the rolling hills of
northwestern Georgia. The Chattahoochee River
and Stone Mountain are recognized as
spectacular geological features in the area.
Stone Mountain, located east of Atlanta, is a
major part of a granite vein running through the
region. With few natural barriers to limit
development, tremendous population growth
over the past decade expanded the metro’s
borders, which now encompass 21 counties.
Meanwhile, new redevelopment projects
downtown that present a vast array of housing,
entertainment and retail opportunities are
enticing residents back into the city.
This information has been secured from sources we believe to be reliable, but we make no representations or warranties,expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer mustverify the information and bears all risk for any inaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap RealEstate Investment Services of Atlanta, Inc. © 2017 Marcus & Millichap. All rights reserved.
Market Highlights
Heavy concentration of headquarters
■ Atlanta ranks fifth in the nation in the number
of Fortune 500 headquarters with 18,
including UPS, Coca-Cola, Delta Air Lines and
High median household income
■ The metro’s annual median household income
of $59,000 places it above the U.S. level of
Low costs of living and doing business attract jobs
■ A pro-business environment and affordable
home prices helped Atlanta rise to fourth in
the nation in job creation last year.
Atlanta-Sandy Springs-Marietta Metro
ATLANTA
MARKET OVERVIEW
Largest Cities in Metro by Population
325 RALPH D. ABERNATHYATLANTA, GA
* ForecastSources: Marcus & Millichap Research Services, U.S.Census Bureau, Experian
Metro
The Atlanta metro is home to more than 5.6
million residents. From 2010 to 2015, the
population rose by 351,100 people. In the coming
five years, annual population growth will flourish
even more rapidly with the addition of 481,600
people. Fulton is the most populous county in the
metro with 1 million residents. Atlanta is the
largest city, with 465,200 citizens.
Infrastructure
Atlanta’s extensive and well-developed
transportation network is a key competitive
advantage. Hartsfield-Jackson Atlanta
International Airport is the busiest passenger
airport in the world. It is also home to Delta Air
Lines and a major air cargo hub.
The metro’s extensive road, rail and airport
systems and its proximity to the Port of
Savannah ensure its status as the pre-eminent
distribution hub for the Southeast. CSX and
Norfolk Southern provide rail connections
nationally through five intermodal yards.
The Metropolitan Atlanta Rapid Transit Authority
(MARTA) operates train and bus service
throughout the region; its system contains
dozens of train stations running on four lines with
a link to the airport and around 125 bus lines.
The Atlanta Regional Commission is embarking
on an exciting new initiative that will provide
This information has been secured from sources we believe to be reliable, but we make no representations or warranties,expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer mustverify the information and bears all risk for any inaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap RealEstate Investment Services of Atlanta, Inc. © 2017 Marcus & Millichap. All rights reserved.
Atlanta 465,200
Sandy Springs 102,900
Roswell 95,700
Johns Creek 84,000
Alpharetta 62,500
Marietta 59,700
ATLANTA
Airports
■ Hartsfield-Jackson Atlanta International
Airport
■ Six reliever airports
Major Roadways
■ Interstates 20, 75, 85, 285 and 575
Rail
■ Freight - CSX, Norfolk Southern
■ Passenger - Amtrak
■ Commuter - MARTA
Atlanta is:
■ 250 miles from Savannah
■ 640 miles from Washington, D.C.
■ 720 miles from Chicago
■ 790 miles from Dallas
MARKET OVERVIEW
* ForecastSources: Marcus & Millichap Research Services,Bureau of Economic Analysis, Moody’s Analytics, U.S.Census Bureau, Fortune
325 RALPH D. ABERNATHYATLANTA, GA
Economy
The Atlanta economy is thriving, with both gross
metropolitan product (GMP) and retail sales
progressing above national levels. The metro
ranks high in the nation for Fortune 500
headquarters and serves as a financial hub for
the Southeast; it is home to SunTrust Bank and
the Federal Reserve Bank of Atlanta.
Many companies favor Atlanta for its low
corporate taxes, pro-business climate, and
access to national and global markets. The metro
boasts one of the country’s largest
concentrations of air transportation, cargo and
warehousing operations, making trade,
transportation and utilities the dominant
employment sector.
Atlanta is also an exceptional business and
government center. Numerous governmental and
educational entities are based in Atlanta,
including the Centers for Disease Control, the
Federal Reserve District Six and more than 30
accredited higher learning institutions.
Technology-focused R&D programs and
facilities at the universities boost high-tech
employment.
Media outlets have an immense presence in
Atlanta with CNN headquartered in the city, along
with Turner Broadcasting System, Cox
Communications and The Weather Channel. Five
This information has been secured from sources we believe to be reliable, but we make no representations or warranties,expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer mustverify the information and bears all risk for any inaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap RealEstate Investment Services of Atlanta, Inc. © 2017 Marcus & Millichap. All rights reserved.
2015 Atlanta Fortune 500 Headquarters
Home Depot Rock-Tenn
Newell Rubbermaid Genuine PartsThe Coca-Cola Co. First Data
Delta Air Lines AGCO
Coca-Cola Enterprises UPS
Southern Co. NCR
SunTrust Banks HD Supply
Asbury Automotive Aflac
ARRIS Group AGL Resources
ATLANTA
MARKET OVERVIEW325 RALPH D. ABERNATHYATLANTA, GA
Labor
For the last five years, nonfarm employment in the Atlanta metro has consistently averaged higher
growth per year than the U.S. In the coming five years, this trend will continue as Atlanta posts an
average 2.0 annualized growth rate, exceeding the national average of 1.3 percent annually. With
the existing employment base totaling more than 2.6 million positions, job growth will sustain an
expanding economy.
Currently, the largest share of metro employment is represented by the trade, transportation and
utilities sector, which comprises 22 percent of jobs. The sector derives its strength from the region’s
position as the primary distribution hub for the Southeast; numerous large companies have office
and warehouse facilities in the area. Employment in trade, transportation and utilities is expected to
expand at an average rate of 1.6 percent annually over the next five years.
The professional and business services industry accounts for 19 percent of local jobs and is
projected to post annual gains of 2.8 percent through 2020. Expansion in this sector will fuel the
need for office space. Education and health services employment also continues to escalate as the
population rises. This sector currently provides nearly 321,800 jobs and is expected to average 3.1
percent annual growth in the coming five years.
During this period, all sectors will expand, but the fastest employment growth will be in construction.
The sector will add jobs at an annual pace of 3.8 percent as new housing starts increase and major
developments, such as facilities for the Atlanta Braves and Atlanta Falcons, proceed.
This information has been secured from sources we believe to be reliable, but we make no representations or warranties,expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer mustverify the information and bears all risk for any inaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap RealEstate Investment Services of Atlanta, Inc. © 2017 Marcus & Millichap. All rights reserved.
* ForecastSources: Marcus & Millichap Research Services, BLS, Moody’s Analytics
ATLANTA
MARKET OVERVIEW325 RALPH D. ABERNATHYATLANTA, GA
Major Employers
Employers
Atlanta is one of the nation’s leading business
centers. In total, 18 Fortune 500 companies call
the metro their headquarters, and many of the
world’s most recognizable companies have a
substantial presence in the metro. Large
employers include Delta, Home Depot, United
Parcel Service (UPS) and Cox Communications.
Among these, both UPS and Cox chose to
relocate to Atlanta to take advantage of the high-
quality workforce, a low cost of doing business
and a well-developed transportation
infrastructure. Mercedes-Benz is in the process
of moving their headquarters to Atlanta, adding
hundreds of employees and State Farm will
anchor the largest corporate office project in the
metro. When completed, the 2.2-million-square-
foot mixed-use project in Dunwoody will house
8,000 employees.
Other major employers include transportation
companies such as Southwest Airlines and Delta
Air Lines, which has a local payroll of more than
27,000 workers. Many of the transportation jobs
are located at Hartsfield-Jackson Atlanta
International Airport.
Telecommunications companies in the metro
include AT&T, CNN and Cox Communications.
The area also hosts a growing biotechnology
industry, and defense manufacturer Lockheed
Martin is located in Marietta.
Atlanta has the largest concentration of * ForecastSources: Marcus & Millichap Research Services, BLS,Moody’s Analytics, Experian
This information has been secured from sources we believe to be reliable, but we make no representations or warranties,expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer mustverify the information and bears all risk for any inaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap RealEstate Investment Services of Atlanta, Inc. © 2017 Marcus & Millichap. All rights reserved.
ATLANTA
Gwinnett County Public Schools
Emory University
Delta Air Lines
Cox Enterprises, Inc.
Cobb County Public Schools
AT&T
Wal-Mart
UPS
WellStar Health Systems
Home Depot
MARKET OVERVIEW325 RALPH D. ABERNATHYATLANTA, GA
Demographics
Atlanta’s emergence as a world-class business
center and the population shift to Sun Belt areas
continue to drive population growth. The metro is
ranked among the nation’s top 10 largest, and
will exceed 6 million residents by 2019.
Many of the young people who move to Atlanta
for employment have chosen to remain in the
region and have families. This has lowered the
median age to 35.6 years, which is younger than
the U.S. median. More than 62 percent of
residents are in their working years, and seniors
comprise just 10 percent of the population.
Educational attainment is high, as 34.6 percent of
the local population age 25 and older have
obtained at least a bachelor’s degree, up from 31
percent in 2000. Job quality has also increased,
as reflected in a median household income of
nearly $59,000 per year, above the national
median of $56,100 annually.
In the coming five years, the rise in household
income will outpace a tick up in home prices.
This trend should expand the homeownership
rate in the metro. Atlanta home prices are among
the most affordable of Southeastern cities, with a
median price of $175,900. This has contributed
to a homeownership rate of 64.2 percent, slightly
higher than the national average.* ForecastSources: Marcus & Millichap Research Services, AGS,Experian, Moody’s Analytics, U.S. Census Bureau
This information has been secured from sources we believe to be reliable, but we make no representations or warranties,expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer mustverify the information and bears all risk for any inaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap RealEstate Investment Services of Atlanta, Inc. © 2017 Marcus & Millichap. All rights reserved.
ATLANTA
MARKET OVERVIEW
The information contained in the market overview comes from sources deemed to be reliable, however, no representation, warranty or guarantee, express or implied, may be made as to the accuracy or reliability of the information contained herein. The most timely data available at time of production, including estimates and forecasts, were used and may be subject to revision.
325 RALPH D. ABERNATHYATLANTA, GA
Quality of Life
The Atlanta metro features a surging business
environment and modern infrastructure while
providing entertainment and attractions in a safe
and comfortable community. With its genuine
Southern hospitality, Atlanta boasts a lifestyle
that attracts many people. Affordable housing
lowers the average cost of living, allowing
citizens to lead prosperous lives in the region,
whether in a rural or urban setting.
Outdoor and sports enthusiasts will find plenty to
enjoy. Mild weather year-round beckons
residents to hike and bike on the many trails in
and around Atlanta. Atlanta is also home to
professional sports franchises in the NFL, MLB,
NBA and WNBA.
The metro has several acclaimed cultural
institutions, including Zoo Atlanta and the High
Museum of Art. Central Atlanta continues its
urban renaissance with an abundance of
nightclubs, restaurants and entertainment
venues, including the Atlanta Symphony
Orchestra and the Atlanta Ballet. The Georgia
Aquarium, the National Center for Civil and
Human Rights, the College Football Hall of Fame
and the World of Coca-Cola museum are all
located downtown in Centennial Park.* ForecastSources: Marcus & Millichap Research Services,Economy.com, National Association of Realtors, U.S.Census Bureau
This information has been secured from sources we believe to be reliable, but we make no representations or warranties,expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer mustverify the information and bears all risk for any inaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap RealEstate Investment Services of Atlanta, Inc. © 2017 Marcus & Millichap. All rights reserved.
ATLANTA
MARKET OVERVIEW325 RALPH D. ABERNATHYATLANTA, GA
Surging Atlanta Economy Supports Retail Spending,Driving Vacancy Rates to New Lows
Increasing consumer spending coupled with a slowdown in retail construction will further tighten the
strong Atlanta retail market. Demand for retail space has risen due to favorable demographic trends.
In addition, several high-profile projects are in the works that will create new retail and trade areas,
including new NFL and MLB stadiums expected to open in 2017. These projects will provide
substantial economic lift to surrounding retailers and enhance the opportunity to attract marquee
events to Atlanta. The warm climate, ample job opportunities and affordable cost of living are also
having a positive impact on demographic trends. Population growth, particularly among the high-
spending cohort of 20- to 34-year-olds, is nearly triple the national rate, underpinning the strongest
period of retail sales growth in three years. Despite robust optimism, construction will slow in 2016
with annual completions stalling to well below the five-year average. A decline in metro development
will allow the metrowide vacancy rate to fall to a 10-year low in 2016. Tight market conditions will
encourage a rent uptick, with the average asking rate reaching the highest point since mid-2011.
Investor demand for Atlanta retail assets will remain intense in 2016 with high occupancy rates and
a strong economic outlook holding interest. Buyers outnumber sellers in the metro, forcing highly
motivated investors to bid aggressively on available assets. This competitive buying environment
has helped push valuations to a 15-year high, led primarily by gains in single-tenant pricing. Deal
flow is overwhelmingly centered on transactions in the $1 million to $10 million price tranche,
although some activity occurs for more expensive properties by out-of-state buyers. Cap rates for
fast-food properties with a nationally recognized tenant will trade in the 4 percent range with
drugstore assets hovering in the 6 percent area. On the multi-tenant side rates average in the 7
percent area depending on asset quality, location, tenant mix and lease structure.
This information has been secured from sources we believe to be reliable, but we make no representations or warranties,expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer mustverify the information and bears all risk for any inaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap RealEstate Investment Services of Atlanta, Inc. © 2017 Marcus & Millichap. All rights reserved.
* Forecast
ATLANTA
MARKET OVERVIEW325 RALPH D. ABERNATHYATLANTA, GA
2016 Market Forecast
This information has been secured from sources we believe to be reliable, but we make no representations or warranties,expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer mustverify the information and bears all risk for any inaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap RealEstate Investment Services of Atlanta, Inc. © 2017 Marcus & Millichap. All rights reserved.
* ForecastSources: CoStar Group, Inc.; Real Capital Analytics
ATLANTA
NRI Rank23, up 3 places
Employmentup 3.2%
Construction760,000 sq. ft.
Vacancydown 80 bps
Rentup 1.1%
Investment
A steep decline in vacancy and strong employment growth pushed Atlanta upthree spots.
Metro employers will hire 84,000 new workers in 2016, an increase of 3.2 percent.Last year, Atlanta organizations added 77,000 jobs, led by gains in theprofessional and business services sector.
The pace of construction will slow this year as developers bring 760,000 squarefeet of retail space to market. In 2015, builders completed 922,000 square feet.
Following an 80-basis-point drop last year, the metro’s vacancy rate will fall 80basis points in 2016, landing at a 10-year low of 7 percent by year end.
The average asking rent will reach $13.55 per square foot this year, an increaseof 1.1 percent. Last year, metro rent remained flat at $13.40 per square foot.
In-town properties and assets in the northern suburbs will draw heavy investorinterest. Specialty grocers with some health component will also attract attention.
ATLANTA, GA
DEMOGRAPHIC ANALYSIS
1 Mile 3 Miles 5 Miles
2000 Population 17,112 138,822 305,053
2010 Population 15,994 133,313 289,057
2014 Population 17,701 147,611 318,529
2019 Population 18,988 153,054 327,747
2000 Households 4,880 49,836 117,890
2010 Households 5,918 53,024 123,622
2014 Households 6,549 58,752 136,671
2019 Households 7,251 62,702 144,185
2014 Average Household Size 2.25 2.06 2.10
2014 Daytime Population 16,445 161,819 267,777
2000 Owner Occupied Housing Units 20.80% 29.76% 36.16%
2000 Renter Occupied Housing Units 65.83% 57.46% 53.57%
2000 Vacant 13.37% 12.79% 10.26%
2014 Owner Occupied Housing Units 23.22% 34.81% 40.00%
2014 Renter Occupied Housing Units 76.78% 65.19% 60.00%
2014 Vacant 14.84% 16.45% 13.39%
2019 Owner Occupied Housing Units 23.33% 34.88% 39.69%
2019 Renter Occupied Housing Units 76.67% 65.12% 60.31%
2019 Vacant 14.87% 16.77% 13.75%
$ 0 - $14,999 42.6% 30.5% 24.6%
$ 15,000 - $24,999 19.1% 14.7% 13.9%
$ 25,000 - $34,999 10.7% 11.2% 11.5%
$ 35,000 - $49,999 7.7% 11.9% 12.4%
$ 50,000 - $74,999 7.2% 12.2% 13.1%
$ 75,000 - $99,999 5.3% 6.9% 7.5%
$100,000 - $124,999 2.6% 4.8% 5.6%
$125,000 - $149,999 1.9% 2.5% 2.9%
$150,000 - $199,999 1.8% 2.7% 3.6%
$200,000 - $249,999 0.4% 0.9% 1.8%
$250,000 + 0.8% 1.8% 3.2%
2014 Median Household Income $19,391 $29,168 $35,048
2014 Per Capita Income $14,177 $22,732 $29,355
2014 Average Household Income $35,993 $51,818 $65,436
Demographic data © 2012 by Experian.
DEMOGRAPHIC ANALYSIS325 RALPH D. ABERNATHYATLANTA, GA
This information has been secured from sources we believe to be reliable, but we make no representations or warranties,expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer mustverify the information and bears all risk for any inaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap RealEstate Investment Services of Atlanta, Inc. © 2017 Marcus & Millichap. All rights reserved.
DEMOGRAPHIC REPORT
Geography: 5 miles
Population
In 2014, the population in your selected geography is 318,529. The population has changed by 4.41% since 2000. It is estimated thatthe population in your area will be 327,746 five years from now, which represents a change of 2.89% from the current year. Thecurrent population is 51.24% male and 48.75% female. The median age of the population in your area is 32.7, compare this to theEntire US average which is 37.3. The population density in your area is 4,055.30 people per square mile.
HouseholdsThere are currently 136,670 households in your selected geography. The number of households has changed by 15.93% since 2000.It is estimated that the number of households in your area will be 144,185 five years from now, which represents a change of 5.49%from the current year. The average household size in your area is 2.09 persons.
Income
In 2014, the median household income for your selected geography is $35,047, compare this to the Entire US average which iscurrently $51,972. The median household income for your area has changed by 18.78% since 2000. It is estimated that the medianhousehold income in your area will be $40,478 five years from now, which represents a change of 15.49% from the current year.
The current year per capita income in your area is $29,355, compare this to the Entire US average, which is $28,599. The current yearaverage household income in your area is $65,436, compare this to the Entire US average which is $74,533.
Race & EthnicityThe current year racial makeup of your selected area is as follows: 33.36% White, 59.06% Black, 0.03% Native American and 3.46%Asian/Pacific Islander. Compare these to Entire US averages which are: 71.60% White, 12.70% Black, 0.18% Native American and5.02% Asian/Pacific Islander.
People of Hispanic origin are counted independently of race. People of Hispanic origin make up 4.41% of the current year populationin your selected area. Compare this to the Entire US average of 17.13%.
HousingIn 2000, there were 47,508 owner occupied housing units in your area and there were 70,381 renter occupied housing units in yourarea. The median rent at the time was $499.
Employment
In 2014, there are 267,776 employees in your selected area, this is also known as the daytime population. The 2000 Census revealedthat 60.72% of employees are employed in white-collar occupations in this geography, and 39.00% are employed in blue-collaroccupations. In 2014, unemployment in this area is 10.92%. In 2000, the average time traveled to work was 28.4 minutes.
Demographic data © 2012 by Experian.
DEMOGRAPHIC ANALYSIS325 RALPH D. ABERNATHYATLANTA, GA
This information has been secured from sources we believe to be reliable, but we make no representations or warranties,expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer mustverify the information and bears all risk for any inaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap RealEstate Investment Services of Atlanta, Inc. © 2017 Marcus & Millichap. All rights reserved.
SUMMARY REPORT
Number of people living in a given area per square mile.
Demographic data © 2012 by Experian.
DEMOGRAPHIC ANALYSIS325 RALPH D. ABERNATHYATLANTA, GA
This information has been secured from sources we believe to be reliable, but we make no representations or warranties,expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer mustverify the information and bears all risk for any inaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap RealEstate Investment Services of Atlanta, Inc. © 2017 Marcus & Millichap. All rights reserved.
POPULATION DENSITY
The number of people employed in a given area per square mile.
Demographic data © 2012 by Experian.
DEMOGRAPHIC ANALYSIS325 RALPH D. ABERNATHYATLANTA, GA
This information has been secured from sources we believe to be reliable, but we make no representations or warranties,expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer mustverify the information and bears all risk for any inaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap RealEstate Investment Services of Atlanta, Inc. © 2017 Marcus & Millichap. All rights reserved.
EMPLOYMENT DENSITY
Average income of all the people 15 years and older occupying a single housing unit.
Demographic data © 2012 by Experian.
DEMOGRAPHIC ANALYSIS325 RALPH D. ABERNATHYATLANTA, GA
This information has been secured from sources we believe to be reliable, but we make no representations or warranties,expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer mustverify the information and bears all risk for any inaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap RealEstate Investment Services of Atlanta, Inc. © 2017 Marcus & Millichap. All rights reserved.
AVERAGE HOUSEHOLD INCOME
Two-way, average daily traffic volumes.Traffic Count data © 2012 by TrafficMetrix. All rights reserved.
DEMOGRAPHIC ANALYSIS325 RALPH D. ABERNATHYATLANTA, GA
This information has been secured from sources we believe to be reliable, but we make no representations or warranties,expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer mustverify the information and bears all risk for any inaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap RealEstate Investment Services of Atlanta, Inc. © 2017 Marcus & Millichap. All rights reserved.
TRAFFIC COUNTS
* Traffic Count Estimate
ATLANTA, GA
OFFERING MEMORANDUM
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