1010 MIDTOWN LEASING PACKAGE

Size: px

Start display at page:

Download "1010 MIDTOWN LEASING PACKAGE"

Deborah Megan Walker
6 years ago
Views:

1 1010 MIDTOWN LEASING PACKAGE

2 1010 MIDTOWN SITE PLAN 2

3 PROPERTY DESCRIPTION Location The 1010 Midtown building is situated in the heart of the Midtown, the second largest business district in the city of Atlanta, situated between the commercial and financial districts of Downtown to the south and Buckhead to the north Midtown is located along Atlanta s signature Peachtree Street, the major thoroughfare servicing these three markets. Developments along Peachtree are among the most highly regarded and sought after in the area. The site features 21,500 square feet of retail space located along Peachtree Street, with four points of access, two of which, 11th Street and 12th Street, feature signalized intersections at Peachtree, the major thoroughfare servicing the Midtown market. This location enjoys the ideal blend of sophistication, density and convenience. Most of Atlanta s class A office buildings, occupied by numerous Fortune 500 companies and other prestigious tenants, are located in Midtown and just north in Buckhead. The large amount of retail patrons, driven by the area s substantial residential base and business presence, will be able to shop and dine within just a short walk of the home or office. The recent large influx of new residence starts and completions in the area is expected to boost demand for office space and increase the value of the area s existing retail space. Peachtree Street Peachtree Street is the ideal street in Atlanta onto which to anchor a significant mixed-use development. It is the primary transportation corridor for accessing the Midtown market from elsewhere in the region. While attractively appointed with wide sidewalks and landscaping, it is also clearly designed for handling significant traffic. Beginning at Five Points in Downtown Atlanta, it runs north through Midtown, changing names to Peachtree Road upon entering Buckhead. Much of the city's historic and noteworthy architecture is located along the street, and it is often used for annual parades (such as the Atlanta St. Patrick's Day Parade and Atlanta Christmas Parade), as well as one-time parades celebrating events such as the 100th anniversary of Coca-Cola in 1988 and the Atlanta Braves 1995 World Series victory. The "Midtown Mile" is a concept to make the portion of Peachtree St. in Midtown like the Magnificent Mile in Chicago. A large number of specialty retail is located along Peachtree in Midtown, contributing to its rising status as a high-end shopping district. In 2007, Atlanta mayor Shirley Franklin unveiled a $1 billion, 20-year plan to transform Peachtree Street with streetscape upgrades, public parks, buried utilities, and the addition of a streetcar, based on a sixteen-month study by the Peachtree Corridor Partnership task force. 3

4 PROPERTY DESCRIPTION Overview 1010 Midtown is a part of the 12th & Midtown Development Initiative, which strives to provide Atlanta residents with an unparalleled Midtown lifestyle. Spanning four city blocks, the project will include over 3 million SF of mixed-use space, featuring 2 Class A office towers, luxury hotels, premium residences, and flagship retail. Phase I, which includes 1010 Midtown, is complete and features 50,000 SF of retail space. There are more then 90,000 high paying jobs currently in Midtown three fourths of which are located in the one-square-mile Midtown Core surrounding Phase II is an integrated multi-tower, mixed-use structure comprised of 725,000 square feet of Class A office space, 60,000 square feet of street-level retail space, the 414-room Loews Atlanta Hotel, and 52 signature residences. The $500 million complex opened in Midtown is a 35-story, 630,000 square-foot mixed-use development featuring 443 luxury high-rise condominiums and 37,853 square feet of retail and dining space currently 100% occupied by 8 tenants, with 21,501 square feet located on busy Peachtree Street. Residents at 1010 Midtown condos enjoy resort-inspired amenities, including a state-of-the-art fitness center, clubroom, swimming pool, 24-hour concierge service, and private deck-top plaza with panoramic views of the downtown skyline Midtown Atlanta is located on Peachtree Street between 11th & 12th streets in Atlanta, Georgia Midtown 4

5 MARKET AERIAL Buckhead Midtown Downtown 5

6 MIDTOWN DEMOGRAPHICS Demographics Statistic 2000 Population 2010 Population Pop. Growth 2010 # Housing Units Average HH Size Average HH Income Median HH Income Median Age Bachelor's Degree Daytime Workforce Resident/Workforce Spread Jobs: White Collar Jobs: Service Jobs: Blue Collar Midtown Demographics Summary Midtown Core Midtown 6,446 30,163 12,916 41, % 38% 11,251 24, $69,549 $70,426 $51,951 $49, % 39% 43,347 81,418 30,431 39,737 83% 79% 12% 12% 5% 9% Atlanta 415, ,149 3% 246, $61,444 $37, % 67% 19% 14% Georgia 8,186,453 9,774,937 19% 2.6 $62,991 $46, % 62% 16% 22% Economy Midtown Atlanta features more than 22 million square feet of office space in some of the Southeast's best properties. Over the past 15 years, an astonishing 23 new office buildings have been built. And these buildings not only provide the best of amenities for the district's 81,000+ daytime workers, but they are creating one of the Southeast's most sustainable urban districts, with a growing portfolio of LEED-certified buildings. Midtown is home to many corporate headquarters, such as Equifax, EarthLink, Invesco, and The Coca-Cola Company, as well as other corporations with a sizeable presence such as Norfolk Southern, Wells Fargo, Price Waterhouse Coopers, and AT&T Inc. (as a result of its purchase of BellSouth). Google's Atlanta office, Jason s Deli s Southeastern office, and Arcapita's Atlanta offices are all also located in the Midtown district. The Federal Reserve Bank of Atlanta, once located Downtown at 104 Marietta Street NW prior to 2001, is now located in Midtown at 1000 Peachtree Street. Hotels in Midtown include the Four Seasons, The W, Renaissance, and the newly constructed Loews Hotel. Major law firms such as King & Spalding and Kilpatrick & Stockton are also located in this district. Midtown is also home to a share of Atlanta's diplomatic missions including The Consulate-General of Canada, the Consulate-General of Switzerland, the Consulate-General of Israel, and the Netherlands Foreign Investment Agency. The Taipei Economic and Cultural Office, representing the Republic of China, is located in the district s Atlantic Center Plaza. 6

7 ATLANTA GEORGIA RESIDENTIAL OVERVIEW Residential Overview Average price per square foot for Atlanta GA was $141, an increase of 23.7% compared to the same period last year. The median sales price for homes in Atlanta GA for Jan 13 to Mar 13 was $187,500 based on 1,991 home sales. Compared to the same period one year ago, the median home sales price increased 31.1%, or $44,500, and the number of home sales decreased 15.2%. There are approximately 5,250 resale and new homes in Atlanta, including 4,266 homes in the pre-foreclosure, auction, or bank-owned stages of the foreclosure process. The average listing price for homes for sale in Atlanta GA was $486,236 for the week ending April 10, 2013, which represents an increase of 1.3%, or $6,014, compared to the prior week. The most popular neighborhoods in Atlanta include Midtown and Druid Hills, with average listing prices of $329,887 and $585, Midtown Building 7

8 PROPERTY PICTURES 8

9 PROPERTY PICTURES View from Peachtree St. View from 11th St. 9

1010 MIDTOWN CO-TENANCY RA Sushi An upscale Asian chain that offers Japanese Fusion-Cuisine, takeout sushi, and sushi catering in a fun, upbeat atmosphere. Open for lunch, dinner and happy hour.

Currently, 25 locations exist throughout: Maryland, California, Georgia, Florida, Illinois, Texas, Arizona, Nevada, and Kansas.

Mi Cocina is owned by the privately held M. Crowd Restaurant Group. Currently, 22 locations exist in major cities throughout Texas, as well as Georgia, Maryland, and Oklahoma.

10 1010 MIDTOWN CO-TENANCY RA Sushi An upscale Asian chain that offers Japanese Fusion-Cuisine, takeout sushi, and sushi catering in a fun, upbeat atmosphere. Open for lunch, dinner and happy hour. RA has been in business since it first set up shop in Scottsdale, AZ back in Later on, in 2002, the Benihana brand acquired RA Sushi for an undisclosed amount. Currently, 25 locations exist throughout: Maryland, California, Georgia, Florida, Illinois, Texas, Arizona, Nevada, and Kansas. Mi Cocina The upscale Mexican restaurant first opened in 1991 in Dallas, TX. Eight years later the second location popped up with several more following soon after. Mi Cocina is owned by the privately held M. Crowd Restaurant Group. Currently, 22 locations exist in major cities throughout Texas, as well as Georgia, Maryland, and Oklahoma. Panera Bread A chain of bakery-cafés bring the tradition of freshly baked artisan bread to neighborhoods in cities across the country. First opening its doors in 1981, Panera is a national credit-tenant, owned by Panera Bread Company, with over 1,650 locations throughout the majority of the U.S. Panera will open its doors at the subject 1010 site as tenant build-out is ongoing. 10

1010 MIDTOWN CO-TENANCY Piola An international Italian restaurant chain, famous for pizza and traditional pasta. Piola features authentic, cultural menu items for both lunch and dinner.

11 1010 MIDTOWN CO-TENANCY Piola An international Italian restaurant chain, famous for pizza and traditional pasta. Piola features authentic, cultural menu items for both lunch and dinner. Piola began in the heart of Treviso, Italy back in From then it has grown to an internationally recognizable Italian chain, with multiple franchise locations in existence. Piola s 11 U.S. locations are scattered throughout: New York, Florida, Texas, Virginia, Georgia, North Carolina, and Washington D.C. The 29 International locations include restaurants in: Italy, Argentina, Turkey Ecuador,Chile, Honduras, Columbia, Brazil, Mexico, and Canada. Ri Ra Irish Pub Sample the vast array of Whiskeys adorning the back bars, indulge your fancy for the perfect pint of Guinness, or enjoy the carefully crafted award-winning, authentic Irish fare. The meticulously restored design of the pub took over 2 years and 11,000 hours to build, with approximately 40 tons of authentic disassembled materials being shipped from Ireland. Currently, 12 locations are scattered throughout major cities in 9 states along the eastern seaboard. 11

1010 MIDTOWN CO-TENANCY CB2 A modern furniture and home décor retailer that caters to the young and hip crowd. CB2 is sleek, chic, functional and comfortable.

Ontario, British Columbia, and Singapore.

lunch and dinner daily. Bantam + Biddy has crafted what the owner calls a steppingstone between fast food and fine dining.

12 1010 MIDTOWN CO-TENANCY CB2 A modern furniture and home décor retailer that caters to the young and hip crowd. CB2 is sleek, chic, functional and comfortable. CB2 is a subsidiary of Chicago-based Crate & Barrel home furnishing store with 14 select locations in: California, Florida, Georgia, New York, Illinois, Minnesota, Ontario, British Columbia, and Singapore. Bantam + Biddy Bantam + Biddy provides Atlantans with a casual, family-friendly eatery featuring regional, all-natural and pastured poultry offering breakfast, lunch and dinner daily. Bantam + Biddy has crafted what the owner calls a steppingstone between fast food and fine dining. The restaurant, who just opened their second location at 1010 Midtown, sports a casual but comfy decor, appropriate for couples and families scattered about or the businessmen anchored at the bar with a view of the open kitchen Bank of America The nation's leading financial institution and home for all personal financial needs. 12

MIDTOWN OFFICE/RETAIL SPACE 500-3,202 SF 620 PEACHTREE STREET ATLANTA, GA 30308

MIDTOWN OFFICE/RETAIL SPACE 500-3,202 SF 620 PEACHTREE STREET ATLANTA, GA 30308 PROPERTY HIGHLIGHTS 240,550 SF, 19 story, mixed-use tower 500-3,202 SF total available space Suite 101-1,052 SF available for lease at $35/SF NNN Suite 118-2,150 SF available for lease at $25/SF NNN Built