FOR SALE or LEASE COMMERCIAL OFFICE CONDOS 2601 CROSS COUNTRY DR. 4 BUILDINGS TOTALING 70,596 SF COLUMBUS, GA 31906

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1 FOR SALE or LEASE COMMERCIAL OFFICE CONDOS 2601 CROSS COUNTRY DR. 4 BUILDINGS TOTALING 70,596 SF COLUMBUS, GA WC BRADLEY CO REAL ESTATE, LLC PO BOX 140 COLUMBUS, GA DOUG JEFCOAT ASSOCIATE BROKER (OFFICE) (CELL) djefcoat@wcbradley.com July 2011 Page 1

2 EXECUTIVE SUMMARY Price by Building: Bldg B - 35,527 SF - $2,134,671 Bldg C - 12,298 SF - $740,333 Bldg D 10,595 SF - $587,433 Bldg F 12,176 SF $721,604 Goodwill Industries of the Southern Rivers, Inc. (GWISR) bought the property in Originally called Cross Country Office Park, it is now known as the Columbus Community Campus. Campus consists of 6 office condos constructed in 74. GWISR renovated Bldg A, which houses administrative offices, a career center, and free income tax prep service called VITA (Voluntary Income Tax Assistance). Goodwill also uses Building E. The other 4 buildings are available for sale or lease. Building B, partially leased, houses 2 tenants, GMC & Barber s Driving School. Buildings C,D & F are not occupied. Campus sits on approximately acres, strategically positioned in the NW quadrant of the I-185/Macon Rd. interchange. Convenient to shopping, dining and lodging. 10 minutes (6 miles) to Ft. Benning main gate. Current zoning is NC (Neighborhood Commercial), which permits office, retail, daycare, and many other commercial uses. As a result of the Army s expanded mission at nearby Ft. Benning, Columbus is expecting significant growth in population (+28,000) over the next year. Columbus has also benefited from the opening of several major manufacturers in the region to include KIA and NCR and expansions by local industries such as Kodak and Lance Foods. Page 2

3 COLUMBUS, GA REGIONAL OVERVIEW At a January 2011 Economic Outlook Luncheon sponsored by the University of Georgia s Terry College of Business, Columbus was given credit for weathering the recent recession better than most areas of the country and much better than most of Georgia. For example, while the rest of the state saw real estate values decline as much as 19%, on average, Columbus real estate values lost only about 7% of their value during the Great Recession. Job growth is leading the region out of the economic downturn. The most significant sector experiencing employment growth is the military and defense industries as well as several local manufacturers. The Columbus MSA consists of 4 counties in GA (Harris, Muscogee, Marion & Chattahoochee) as well as Russell County, AL. According to census data, the MSA has a population base of approximately 295,000 people and an unemployment rate of 9.8%. REGIONAL MAP SHOWING COLUMBUS MSA The U.S. Army s Ft. Benning, long recognized as Home of the Infantry is growing. As a result of the Base Realignment and Closure Commission (BRAC) mandated by Congress, Ft. Benning will soon lay claim to Home of The Armor School. Economists estimate that the relocation of The Armor School from Ft. Knox, KY will add over 11,000 military and defense industry related jobs to our region plus another 6,000 permanent jobs in the off-base economy. When families are factored into the analysis, the Ft. Benning related growth, translates into a projected increase of population of about 28,000 residents to the Columbus MSA. Page 3

4 The following map illustrates the location of the Columbus Community Campus (CCC) in relation to Ft. Benning. The distance to Ft. Benning is approximately 6 miles with a 10 minute drive time via I-185. CCC is immediately adjacent to I-185 at the Macon Rd. interchange. More details are available about the growth plan for Ft. Benning at MAP SHOWING SUBJECT PROPERTY IN RELATION TO FT. BENNING In addition to growth at Ft. Benning, several local manufacturers continue to grow and prosper. KIA Automotive assembly plant in nearby West Point, GA recently announced they were adding another vehicle (Santa Fe) to their production line. Between KIA and the suppliers who have located near the new plant, economic development professionals estimate the total job growth associated with KIA to be 13,700 jobs. Also, the region has benefitted from increased employment at other local manufacturers like Lance, NCR, Kodak, and Kysor/Warren. Other sectors of the economy that continue to expand in the Chattahoochee Valley region include the defense industry that supports the growth at Ft. Benning, the medical industry and retailers. A number of defense contractors such as Dynamics Research Corp, Lockheed, and SAIC have recently opened or expanded offices in the area. Also, AFLAC, the supplemental insurance giant based in Columbus, has displayed consistent job growth over the last few years. Page 4

5 COLUMBUS COMMUNITY CAMPUS (CCC) LOCATION The Columbus Community Campus is strategically positioned in the NW quadrant of the Interstate 185/Macon Rd. interchange. The office park is surrounded by retail, restaurants, lodging and governmental services like the Columbus Library and the Administrative Building for the Muscogee County School District (MCSD). CCC is a 6-building office campus which is home to Goodwill Industries of the Southern Rivers, Inc., (GWISR) where they house their administrative offices, a career center and a free income tax preparation service called VITA (Voluntary Income Tax Assistance). GWISR purchased the campus in October of 2006, and subsequently renovated Bldg A to accommodate their operation and services. In addition to being convenient to Ft. Benning, the Campus is less than two miles from the AFLAC Corporate HQ and only 5 minutes from Uptown Columbus. CAMPUS POSITIONED AT NW QUADRANT OF I-185/MACON RD INTERCHANGE The Columbus Community Campus rests on approximately 10 +/- acres. The map on the following page provides details on how each building is positioned, square footages, and parking. A roster of the surrounding businesses includes Publix, CVS, Long Horn Steakhouse, La Quinta Inn, Staples, multiple banks and a variety of other commercial operations. Most all goods or services required to operate a successful business are nearby. Page 5

6 COLUMBUS COMMUNITY CAMPUS 6-BUILDING CONFIGURATION PRICING OF OFFICE CONDOMINIUMS In order to provide maximum flexibility to potential tenants and/or owners, GWISR made the strategic decision to convert the CCC to an office condominium in 2009, with each building designated as a separate condo unit. The condo documents are titled, Declaration of Condominium for Columbus Community Campus Condominiums and are recorded in DB 9894 PGS 1 45, Clerk of Superior Court, Muscogee County, GA. Exhibit B of the Condo Docs defines the square footage of each condo unit and percent interest as follows: Condo Unit Square Footage % Interest by SF Price Notes A 16, % Goodwill HQ B-1 12, % Leased to GMC B-2 17, % $2,134,671 Bldg B priced as one Unit B-3 2, % Leased to Barber's Driving School C 12, % $740,333 D 10, % $587,433 E 10, % $687,533 Not Available at this time F 12, % $721,604 Totals 95, % $4,871,574 Page 6

7 ZONING The property is zoned NC (Neighborhood Commercial). The tax map below, which was generated using the Columbus Consolidated Government GIS website, shows the different zoning classifications that surround the Campus. The adjacent properties to the west and north (shaded yellow) are zoned SFR 2 (Single Family Residential 2). The adjacent properties to the south (shaded pink) are zoned GC (General Commercial). The eastern boundary is the right of way for I-185. The City of Columbus adopted a Unified Development Ordinance (UDO) a number of years ago, which defines the parameters of each zoning classification as well as development guidelines. The UDO is accessible on line by going to the City s website, There is also a link to the City s GIS system via this same website. TAX MAP WITH ZONING OVERLAY Page 7

8 OWNER FLEXIBILITY The Owner, Goodwill Industries of the Southern Rivers, Inc., is open to discuss leasing and purchase options to include customized build to suit for a credit worthy tenant; selling one, multiple or all buildings; or a sale/lease back arrangement that could include the building occupied by Goodwill, Building A. Lease rates range from $10 - $12/SF as base rent plus NNN expenses estimated at $5.45/SF including energy. A tenant leasing an entire building would have electric service placed in tenant s name. NNN expenses include condo fees, property taxes, and utilities (except telecom/media). Each tenant responsible for their own janitorial service, but owner is willing to consider adding janitorial to the expense package to create an opportunity for a full service lease. This offering represents a great buy for an investor or end-user owner or a tremendous value for a tenant. This property is centered in the hot bed of activity in a dynamic and growing community that has weathered the recent economic storm as well or better than most population centers across the state and region. To learn more, please call or Contact: Doug Jefcoat - Associate Broker WC Bradley Co Real Estate, LLC (office) or (cell) djefcoat@wcbradley.com This Offering Package was prepared using the best information available to the author. The information and pricing are subject to change. WC Bradley Co. Real Estate, LLC makes no warranties or guarantees regarding the accuracy of the information provided. Page 8

9 Property Photos (exterior) Page 9

10 Property Photos (Interior) Page 10