A Generational Whole Foods Anchored Investment Opportunity in the Atlanta MSA OFFERING SUMMARY

Transcription

1 A Generational Whole Foods Anchored Investment Opportunity in the Atlanta MSA OFFERING SUMMARY

2 Investment HIGHLIGHTS: Property SUMMARY: $ GENERATIONAL INFILL INVESTMENT OPPORTUNITY EXCEPTIONAL DEMOGRAPHICS $ WHOLE FOODS ANCHORED SECURE REVENUE STREAM ADDRESS: PROPERTY GLA: OCCUPANCY: 100% Roswell Rd. NE Sandy Springs, GA ,376 SF EXPLOSIVE SUBMARKET GROWTH SIGNIFICANT NOI GROWTH ACREAGE: 12.6 acres YEAR BUILT: 1963 / 2002 ANCHORS: Whole Foods Market, Marshalls, Petco, Office Depot, Dollar Tree AS-IS NOI: $2,760,000 2

3 Investment HIGHLIGHTS: GENERATIONAL INFILL INVESTMENT OPPORTUNITY The Property has been owned and operated by the Mimms Family for over 40 years. THE MOST HIGHLY SOUGHT AFTER INTERSECTION IN ATLANTA Ideally positioned near two of the most heavily traveled interstates in Georgia: - I-285 (1/2 mile - South) - GA-400 (1/2 mile - East) 70,800 VPD at the intersection of Hammond Dr. and Roswell Rd. HIGH BARRIERS TO ENTRY Due to the commercial density and lack of available development sites PROXIMITY TO IN-TOWN ATLANTA Buckhead (3-mi) Midtown (8-mi) Downtown (10-mi) EXCEPTIONAL DEMOGRAPHICS 1-MILE 3-MILES 5-MILES POPULATION 16,767 86, ,097 AVERAGE HH INCOME $119,416 $145,389 $142,773 BACHELOR S DEGREE OR HIGHER 57% 66% 68% 3 3

4 Investment HIGHLIGHTS: SIGNIFICANT CONTRACTUAL NOI GROWTH WHOLE FOODS MARKET ANCHORED $4.0 MM $3.5 MM $3.0 MM 37% NOI Growth (2.90% CAGR) THE MOST SOUGHT AFTER GROCER IN THE MARKET $2.5 MM $2.0 MM $1.5 MM $1.0 MM $0.5 MM of the Property s projected 65% income growth is contractual: CORE GROCERY OFFERING WITH SIGNIFICANT TERM REMAINING TOTAL OF FOUR BASE RENT INCREASES DURING WHOLE FOODS CURRENT TERM $ Projected Income Contractual Rent Growth 20 YEARS OF TENURE AT THE PROPERTY 68% 59% $ of the income stream is from: SECURE REVENUE STREAM of the GLA is occupied by National / Regional Tenants UNDERGOING MULTIMILLION- DOLLAR INTERIOR & EXTERIOR RENOVATIONS THE MOST TECHNOLOGICALLY ADVANCED GROCER 4 4

5 THE MOST HIGHLY SOUGHT AFTER ATLANTA INTERSECTION The Property benefits from its close proximity to GA-400 and I the two most connective interstates to the Atlanta MSA. A Generational Opportunity in one of the fastest growing Southeastern Submarkets PERIMETER: LARGEST CLASS-A OFFICE MARKET IN ATLANTA BUCKHEAD MIDTOWN DOWNTOWN 3 miles 8 miles 10 miles PERIMETER: LARGEST CLASS-A OFFICE MARKET IN ATLANTA 70 CLASS A 20.5 MILLION OFFICE BUILDINGS SQUARE FEET 136,000 VPD ,000 VPD MERCEDES BENZ HQ (1/2 MI. NORTH) Mercedes Benz has recently opened their new, $93M headquarters which will house as many as 1,000 employees in its nearly 225,000 SF. (1/2 MI. NORTH) HAMMOND DR. 29,300 VPD 1 CITY SPRINGS (1/4 MI. NORTH) The new civic and cultural center contains city offices, a performing arts center, a studio theatre, a city green, retail and residential spaces MULTI-FAMILY DEVELOPMENT GROWTH new apartments recently delivered or under construction 1,300+ within a 1/2 mile of the Property. THE CLIFTWOOD UNITS DELIVERED: Jul-17 SQUARE ONE UNITS DELIVERED: May-17 MODERA SANDY SPRINGS (PH. I & II) UNITS PH. II DELIVERS: JUN-18 ROSWELL RD. 41,500 VPD 5 THE OFFERING: SEPARATE ( OFFERING: ) HFF is simultaneously marketing Parkside Shops on behalf of Mimms Enterprises. Assembling both assets would total over 25 acres of irreplaceable infill real estate. THE ADLEY UNITS DELIVERS: Dec-18 ASTON CITY SPRINGS UNITS DELIVERED: FEB

6 HFF IS SIMULTANEOUSLY MARKETING THE EXCHANGE AT HAMMOND & PARKSIDE SHOPS Offered on a combined or individual basis Opportunity to assemble 25 contiguous acres in one of the most highly sought after submarkets in the Southeast 12.8 ACRES 12.6 ACRES 6 6

7 TENANT ROSTER ROSWELL RD. 41,500 VPD B HAMMOND RD. 29,300 VPD C 5956A B STE. TENANT SF 5930 Whole Foods Market 49, Marshalls 28, B Mills Uniform Company 10, Office Depot 20, Petco 13, MyEyeDr. 1, Horizon Health Care 2, LaVida Massage 3, Mike s Chicago Dogs 1, Beauty Hangout Salon 1, My Friend s Place 1, A Hammond Nails 3, B Elite Studios 6, C THRILL Korean Steak & Bar 5, Dollar Tree 8, Club Pilates 2, Kidental 2, Sublime Donuts 1, Sprint 1, Canton Cooks 3, Waxxpot 1, Hearth Pizza Tavern 3,059 ACCT. STATIC VACANCY 2,795 TOTAL 176, ,376 SF PROPERTY SIZE 100% OCCUPANCY RATE 119,893 SF ANCHOR FOOTPRINT 68% / 32% ANCHOR / TENANT RATIO INVESTMENT ADVISORS JIM HAMILTON Sr. Managing Director jhamilton@hfflp.com BRAD BUCHANAN Director bbuchanan@hfflp.com MIKE ALLISON Director mallison@hfflp.com SHEA PETRICK Analyst spetrick@hfflp.com DEBT CONTACT ED COCO Senior Managing Director ecoco@hfflp.com ON BEHALF OF THE SELLER: Holliday Fenoglio Fowler, L.P. ( HFF ) a Georgia licensed real estate broker. Copyright 2018 HFF (Holliday Fenoglio Fowler, L.P.) and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 25 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com.