O F F E R I N G M E M O R A N D U M. For Sale. Stafford, Virginia FORMER FREDERICKSBURG CHRISTIAN SCHOOL 101 Shepherds Way

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1 O F F E R I N G M E M O R A N D U M For Sale FORMER FREDERICKSBURG CHRISTIAN SCHOOL 101 Shepherds Way Stafford, Virginia

2 Table of Contents Executive Summary Property Profile Location Overview Appendix This Offering was prepared by Cushman & Wakefield Thalhimer and has been reviewed by the Owner. It contains select information pertaining to the Project and does not purport to be all-inclusive or to contain all of the information which a prospective purchaser may desire. All financial projections are provided for general reference purposes only and are based on assumptions relating to the general economy, competition, and other factors beyond control and, therefore, are subject to material change or variation. An opportunity to inspect the Project will be made available to qualified prospective purchasers. In this Offering, certain documents, including the leases and other materials, are described in summary form. The summaries do not purport to be complete nor, necessarily, accurate descriptions of the full agreements involved, nor do they constitute a legal analysis of such documents. Interested parties are expected to independently review all documents. This Offering 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 Project by Cushman & Wakefield Thalhimer or Owner. Each prospective purchaser is to rely upon its own investigation, evaluation and judgment as to the advisability of purchasing the Project described herein. Owner and Cushman & Wakefield Thalhimer expressly reserve the right, at their sole discretion, to reject any or all expressions of interest or offers to purchase the Project and/or to terminate discussions with any party at any time with or without notice. Owner shall have no legal commitment or obligation to any purchaser reviewing this Offering or making an offer to purchase the Project unless a written agreement for the purchase of the Project has been fully executed, delivered, and approved by Owner and any conditions to Owner s obligations thereunder have been satisfied or waived. Cushman & Wakefield Thalhimer is not authorized to make any representations or agreements on behalf of Owner. This Offering is the property of Cushman & Wakefield Thalhimer and may be used only by parties approved by Cushman & Wakefield Thalhimer. The Project is privately offered and, by accepting this Offering, the party in possession hereof agrees (i) to return it to Cushman & Wakefield Thalhimer immediately upon request of Cushman & Wakefield Thalhimer or Owner and (ii) that this Offering and its contents are of a confidential nature and will be held and treated in the strictest confidence. No portion of this Offering may be copied or otherwise reproduced or disclosed to anyone without the prior written authorization of Cushman & Wakefield Thalhimer and Owner. The terms and conditions set forth above apply to this Offering in its entirety. 1

3 Executive Summary EXECUTIVE SUMMARY The Offering Fredericksburg Christian School (FCS) partnered with Tricord Homes to establish The Shelton Shop Center in The development of the property included commercial property pad sites as well as the 21 acre FCS campus. FCS built the elementary school and engineered the site to support a 39,000 SF middle school next to the elementary school. There is a Food Lion anchored retail center as well as several medical practices located in the development. FCS s long term planning has led them to focus their efforts on their core campus in Spotsylvania County and therefore offer the Stafford Campus for sale. The property consists of 21 acres of which approximately 3 acres is not developable. The Elementary School is 39,000 SF. The site will support another, connected 39,000 SF building for the potential total of 78,000 SF of school, church, institutional, or other facility. There is excess property that could be divided and sold. The property is well located in the fastest growing region of Stafford County and has access points on Shelton Shop Road and Garrisonville Road. Investment Summary Address 101 Shepherds Way Stafford, Virginia Asking Price $7,780,000 (Tax assessed value) Total Square Feet 39,000 Site Size Acres Year Built 2004 Capital Improvements 39,000 SF School Building Zoning B2 Urban Commercial Parking 151 Spaces : 3.8 /

4 Property Profile 3

5 Property Profile PROPERTY PROFILE Formerly the Fredericksburg Christian School, the property is in good working order with no known deferred maintenance. 4

6 Property Profile Property Specifications General Building Information Address 101 Shepherds Way, Stafford, VA Tax Map Number 19S 2 Assessment Year 2016 Land Assessment $2,461,900 Improvements Assessment $5,270,700 Total Building SF 39,000 Multipurpose Room SF 12,290 Classrooms / Administration 26,710 Year Built 2,004 Construction Roof American Buildings pre-engineered structure, roof system, and fascia system along with exterior split face masonry walls and interior painted standard masonry walls. 24 gauge Galvalume steel standing seam roof system by American Buildings Corp. Parking 151 Spaces : 3.87/1000 General Site Information Acres Wet Acres Zoning Proffers & Limited Uses Signage Access Other Approximately 18.8 (per the County of Stafford) Approximately 2.3 (per the County of Stafford) B-2 General Commercial There are proffers affecting the property from the original rezoning On Garrisonville Road and on Shelton Shop Road 2 points. Right in/right out off of both Shelton Shop Road; full, non-stoplit access to Garrisonville Road There is a sewer lift station on the property. 5

7 Property Profile Stafford Campus HVAC Units as of 1/20/2017 Equipment Mfg. Model Serial Voltage Tons Year Additional Information Gas Pack #1 Carrier 48TCED08A6A0A0A0 2912G V Rm 12,13 Gas Pack #2 Carrier 48TJD AA 2403F V Rm 18,20,21 Gas Pack #3 Carrier 48TJD AA 2003F V RM 1, Library Gas Pack #4 Carrier 48TJD AA 2503F V Rm 2,5,17,15 Gas Pack #5 Carrier 48TJD AA 2503F V Rm 10,11,19,7 Gas Pack #6 Carrier 48TFD006-A-611HQ 2603G V Office/Breakroom Gas Pack #7 Carrier 48TJD AA 2603F V Rm 6,8,9 Gas Pack #8 Carrier 48TFD HQ 2503G V Kitchen, Commissary Gas Pack #9 Carrier 48TJD AA 2603F V Back Gym Gas Pack #11 Trane YSC120F4RA0E L 460V Stage Gas Pack #12 Carrier 48TJD AA 2603F V Front Gym Gas Pack #14 Carrier TFE008-A-611HQ 2503G V Rm 14,16 7

8 Property Profile Stafford Campus Utility Usage: 2016 Month Electric (Dominion Virginia) Gas (Amerigas) Trash & Waste Management Water/Sewer (Stafford County) January $2, $ $ February $3, $2, $ $ March $2, $6, $ $ April $2, $2, $ $ May $2, $ $ June $4, $ $ July $3, $ $ August $3, $ $ September $5, $ $ October $3, $1, $ $ November $3, $ $ December $2, $3, $ $ TOTAL: $39, $15, $2, $4,

9 Property Profile Site Plan 9

10 Property Profile School Floorplan 10

11 Property Profile Multi-Purpose Room Floorplan 11

12 Property Profile Parcel Map 19S 2 12

13 Property Profile Images Typical Classroom Music Room Multi-Purpose Room Cafeteria Kitchen Break Room 13

14 Location Overview 14

15 Location Overview LOCATION OVERVIEW Stafford County Stafford County is the 3rd fastest growing county and is #1 in job creation in Virginia over the past 5 years. Over 30% of the population have a college degree. The subject property is located in the Garrisonville Road corridor which is the northernmost area of Stafford County and immediately adjacent to Quantico MCB. This has driven a robust residential housing market which has in turn created the fastest growing retail market in the Greater Fredericksburg area. Proximity to Quantico MCB has pushed development of the office property market in support of the government contractors and their employees. Stafford County is the 3rd fastest growing county and is #1 in job creation in Virginia over the past 5 years. Located along the I-95 corridor, and 43.8 miles from Washington DC and 70.5 miles from Richmond, VA the property is squarely within Virginia s Golden Crescent. The Golden Crescent is the area of the State spanning I-64 and I-95 from Chesapeake to Washington DC. Lifestyle Stafford was established in 1664 and named for Staffordshire, England. In Colonial times, Falmouth, on the North bank of the Rappahannock River, was a major port for the shipment of tobacco, wheat, corn, and cotton. Today residents and tourists can visit its landmark buildings such as Chatham, an 18th century manor house and Belmont, home of American impressionist artist Gari Melchers. Other historic attractions include George Washington's Ferry Farm; historic Fredericksburg; and famous Civil War battlefields such as Fredericksburg, Chancellorsville, and The Wilderness. The county's location between the Blue Ridge Mountains to the West and the Chesapeake Bay to the East allows residents to choose from an extensive selection of recreational and cultural advantages. This community is close to many equestrian activities in Virginia's "Horse Country" and within an hour's drive of the Washington and Richmond areas and their many attractions. Kennedy Center, National Theater, Smithsonian Institution, and professional football, basketball, and hockey are easily accessible. Closer to home, University of Mary Washington, in Fredericksburg, serves as host to a series of quality concerts, lectures, art exhibits, and dramatic productions. The Stafford County Parks and Recreation Department sponsors leisure activity programs for all age groups. The county maintains 872 acres in parks that include indoor and outdoor swimming, tennis facilities, athletic fields, hiking trails, and picnic areas. Organized activities and special events include sports, arts and crafts, dances, summer concerts, and adult instructional classes. The county also organizes numerous group field trips and senior citizen activities. Five public golf courses are available in the region. Source: Virginia Economic Development Partnership 15

16 Location Overview 16

17 Location Overview Demographic Executive Summary 17

18 Location Overview 18

19 Location Overview 3.9 Miles to I-95 Exit 143 Demographics 10 Miles No. of Households 44,784 Avg. HH Income $114,494 19

20 Location Overview SITE 50 Miles 100 Miles 200 Miles 20

21 Appendix 21

22 Appendix APPENDIX Economic Incentives Stafford County Economic Development The Economic Development department acts as business advocates to attract, expand and retain new and existing businesses to build Stafford s local economy as well as strengthen the tax base. The main point of contact for the Economic Development department is the Business Development Administrator, Rick Cobert, who can be reached at (540) Fredericksburg Regional Alliance The Fredericksburg Regional Alliance (FRA) is a public/private economic development marketing partnership created to provide CEOs, presidents, corporate real estate executives, and site selection consultants with a single source for comprehensive demographic, economic, and commercial real estate information on the Fredericksburg, Virginia Region which includes the City of Fredericksburg and the counties of Caroline, King George, Spotsylvania, and Stafford while also providing a wide range of services designed to facilitate the creation of jobs and capital investment while diversifying the economy and increasing the tax base. The main point of contact for the Fredericksburg Regional Alliance is the Vice President of Marketing and Operations, Todd Gillingham, who can be reached at (540)

23 Appendix Tax Information Retrieved from 23

24 Appendix Stafford County Public Record 24

25 Appendix Unofficial B2 Zoning 25

26 Appendix 26

27 FOR MORE INFORMATION, PLEASE CONTACT: Wilson Greenlaw, Jr., CCIM Vice President Virgil Nelson, CCIM Senior Vice President SHOWN BY APPOINTMENT ONLY Cushman & Wakefield Thalhimer Eagle Village 1125 Jefferson Davis Highway, Suite 350 Fredericksburg, VA