Liberty Lane Office Park

Transcription

1 For Sale Office Development Site Liberty Lane Office Park LIBERTY LANE EAST, HAMPTON, NH DAVID F. CHOATE, III Executive Vice President New Hampshire BOB ROHRER Managing Director New Hampshire COLLIERS INTERNATIONAL 500 Market Street, Suite 9 Portsmouth, NH MAIN

2 Table of Contents > LIMITING CONDITIONS... 1 > EXECUTIVE SUMMARY... 3 > LAND USE CONTROLS... 6 Zoning Map... Zoning Ordinance Excerpts... Site Plan Review Regulations... > SITE PLANS Condo Site Plans (not recorded)... Existing Utilities Sketch... Development Site Plan... Parcel Breakout Option... Conceptual Plans > AREA INFORMATION Town of Hampton Community Profile... Demographics PRESENTED BY: David F. Choate, III, Principal Executive VP New Hampshire MAIN david.choate@colliers.com Bob Rohrer Managing Director New Hampshire DIR bob.rohrer@colliers.com FOR FINANCING ASSISTANCE: David B. Eaton, CCIM Managing Director New Hampshire DIR david.eaton@colliers.com Kara Santos Commercial Loan Analyst DIR kara.santos@colliers.com

3 LIBERTY LANE EAST For Sale Office Development Site > LIMITING CONDITIONS COLLIERS INTERNATIONAL

4 LIMITING CONDITIONS Limiting Conditions This Offering Package ( Offering ) was prepared by Colliers International New Hampshire ( Broker ) solely for the use by prospective purchasers of the real property at Liberty Lane East, Hampton, NH ( Property ). Neither the Broker nor the Owner of the Property ( Owner ) make any representations or warranties, expressed or implied, as to the completeness or to the accuracy of the material contained in the Offering. Prospective purchasers of the Parcel(s) are advised that (i) changes may have occurred in the physical or financial condition of the Parcel(s) since the time this Offering was prepared; and (ii) that the information contained herein was gathered from third parties and, therefore, may be subject to variation. Owner has not provided Broker or any prospective purchaser with any historical budgets or projections regarding the Parcel(s). Prospective purchasers of the Parcel(s) are advised and encouraged to conduct their own comprehensive review and analysis of the Parcel(s). The Offering is a solicitation for proposals and is an offer to sell the Parcel(s). The Owner expressly reserves the right, in its sole discretion, to reject any or all proposals to purchase the Parcel(s) and expressly reserves the right, at its sole discretion, to engage in discussions with any proposing entity at any time with or without notice. The Owner shall have no legal commitment or obligation to any entity reviewing the Offering or making an offer to purchase the Parcel(s) unless and until such offer for the Parcel(s) is approved by the Owner and the signature of the appropriate executive officer is affixed to a Real Estate Purchase and Sale Agreement. This Offering is confidential. By accepting the Offering, you agree (i) that you will hold and treat the Offering and its contents in the strictest confidence; and (ii) that you will not use the Offering in any fashion or manner detrimental to the interest of the Owner or Broker. LIBERTY LANE EAST OFFERING MEMORANDUM COLLIERS INTERNATIONAL P. 2

5 LIBERTY LANE EAST For Sale Office Development Site > EXECUTIVE SUMMARY COLLIERS INTERNATIONAL

6 EXECUTIVE SUMMARY The Offering Liberty Lane Office Park, located in Hampton, NH, is a premier office park development suitable for owners/ users or developers. Located next to I-95, yet still in a bucolic setting, these buildable lots feature two large ponds, walking trails, and mature landscaping. Only 15 minutes from the New Hampshire/Massachusetts state border, 20 minutes to downtown Portsmouth, 40 minutes from the Manchester-Boston Regional Airport, and less than an hour to Boston, MA, this Park is easily accessible from Exit 2 off I-95 via Routes 101 and 27. Originally developed in the 1970s for Wheelabrator-Frye to house its 110,000± square foot Georgian style headquarters, Liberty Lane Office Park has evolved over the years and now includes three spectacular office buildings, including the corporate headquarters of Unitil and the corporate headquarters of Planet Fitness. A total of five developable condominium sites remain at Liberty Lane East, ranging in size from 2.34± usable acres to 8.82± usable acres. Conceptual plans that are a part of this offering (starting on page 24) illustrate that buildings as small as 15,000 square feet or as large as 45,000 square feet (either single-story or multistory buildings) may be able to be accommodated in the park. The current owner would be willing to pursue buildto-suit or build-to-lease options, as well as an outright sale of a site to a developer who has a controlled tenant or to an end user. LIBERTY LANE EAST OFFERING MEMORANDUM COLLIERS INTERNATIONAL P. 4

7 EXECUTIVE SUMMARY Condominium documents have been created and are available upon request, and a condominium budget is being prepared. Architectural guidelines are in place to ensure that any new building is in harmony with the existing buildings. Liberty Lane East is zoned Industrial and office buildings are an allowed use in this zone (see Zoning Ordinance Excerpts, starting on page 8). Water, sewer and natural gas are available in the park and are adjacent to some of the lots. Colliers International New Hampshire, as the exclusive listing agent for the property, invites serious inquiries from developers or companies seeking a signature business address in Southern New Hampshire. EXETER ROAD EXIT 13 LIBERTY LANE WEST LIBERTY LANE EAST Site lines are approximate TOWLE FARM ROAD LIBERTY LANE EAST OFFERING MEMORANDUM COLLIERS INTERNATIONAL P. 5

8 LIBERTY LANE EAST For Sale Office Development Site > LAND USE CONTROL COLLIERS INTERNATIONAL

9 LAND USE CONTROL Hampton Zoning Map LIBERTY LANE EAST OFFERING MEMORANDUM COLLIERS INTERNATIONAL P. 7

10 LAND USE CONTROL Zoning Ordinance Excerpts LIBERTY LANE EAST OFFERING MEMORANDUM COLLIERS INTERNATIONAL P. 8

11 LAND USE CONTROL Zoning Ordinance Excerpts CONT LIBERTY LANE EAST OFFERING MEMORANDUM COLLIERS INTERNATIONAL P. 9

12 LAND USE CONTROL Zoning Ordinance Excerpts CONT LIBERTY LANE EAST OFFERING MEMORANDUM COLLIERS INTERNATIONAL P. 10

13 LAND USE CONTROL Zoning Ordinance Excerpts CONT LIBERTY LANE EAST OFFERING MEMORANDUM COLLIERS INTERNATIONAL P. 11

14 LAND USE CONTROL Zoning Ordinance Excerpts CONT LIBERTY LANE EAST OFFERING MEMORANDUM COLLIERS INTERNATIONAL P. 12

15 LAND USE CONTROL Zoning Ordinance Excerpts CONT LIBERTY LANE EAST OFFERING MEMORANDUM COLLIERS INTERNATIONAL P. 13

16 LAND USE CONTROL Zoning Ordinance Excerpts CONT LIBERTY LANE EAST OFFERING MEMORANDUM COLLIERS INTERNATIONAL P. 14

17 LAND USE CONTROL Zoning Ordinance Excerpts CONT LIBERTY LANE EAST OFFERING MEMORANDUM COLLIERS INTERNATIONAL P. 15

18 LAND USE CONTROL Zoning Ordinance Excerpts CONT LIBERTY LANE EAST OFFERING MEMORANDUM COLLIERS INTERNATIONAL P. 16

19 LAND USE CONTROL Zoning Ordinance Excerpts CONT LIBERTY LANE EAST OFFERING MEMORANDUM COLLIERS INTERNATIONAL P. 17

20 LAND USE CONTROL Zoning Ordinance Excerpts CONT LIBERTY LANE EAST OFFERING MEMORANDUM COLLIERS INTERNATIONAL P. 18

21 LAND USE CONTROL Zoning Ordinance Excerpts CONT LIBERTY LANE EAST OFFERING MEMORANDUM COLLIERS INTERNATIONAL P. 19

22 LAND USE CONTROL Zoning Ordinance Excerpts CONT LIBERTY LANE EAST OFFERING MEMORANDUM COLLIERS INTERNATIONAL P. 20

23 LAND USE CONTROL Zoning Ordinance Excerpts CONT For more information on Hampton zoning, please click here. LIBERTY LANE EAST OFFERING MEMORANDUM COLLIERS INTERNATIONAL P. 21

24 LAND USE CONTROL Site Plan Review Regulations SECTION I. SECTION II. Definitions For more information, click here. TOWN OF HAMPTON, NEW HAMPSHIRE SITE PLAN REVIEW REGULATIONS Authority and Purpose Pursuant to the authority vested in the Town of Hampton Planning Board vote in accordance with the provisions of the New Hampshire Revised Statues Annotated, Chapters 674:43-44, as amended, the Town of Hampton Planning Board adopts the following regulations governing the review of multi-family dwellings and non-residential site plans, whether or not such development includes a subdivision or resubdivision of the site. These regulations shall be entitled, Site Plan Review Regulations. The purpose of Site Plan Review Regulations is to protect the public health, convenience, safety and welfare; to provide for responsible and desirable growth; to prevent premature and uncoordinated development of land without the adequate provision of public services and facilities; to insure sound site utilization; to avoid development which may result in negative environmental impacts; to ensure a safe and convenient traffic flow both on and off the site; to insure adequate off-street parking; to maintain adequate open spaces, light, air and access; and to insure appropriate landscaping and building aesthetics. The Site Review Procedure in no way relieves the developer, his/her agent, or individual from compliance with the Zoning Ordinance, Subdivision Regulations, or any other ordinance which pertains to the proposed development. No site plan will be approved until it complies in all respects to any and all pertinent ordinances and regulations. LIBERTY LANE EAST OFFERING MEMORANDUM COLLIERS INTERNATIONAL P. 22

25 LIBERTY LANE EAST For Sale Office Development Site > SITE PLANS COLLIERS INTERNATIONAL

26 SITE PLANS Condo Site Plans (not recorded) LIBERTY LANE EAST OFFERING MEMORANDUM COLLIERS INTERNATIONAL P. 24

27 SITE PLANS Condo Site Plans (not recorded) LIBERTY LANE EAST OFFERING MEMORANDUM COLLIERS INTERNATIONAL P. 25

28 SITE PLANS Existing Utilities Sketch LIBERTY LANE EAST OFFERING MEMORANDUM COLLIERS INTERNATIONAL P. 26

29 SITE PLANS Development Site Plan LIBERTY LANE EAST OFFERING MEMORANDUM COLLIERS INTERNATIONAL P. 27

30 SITE PLANS Parcel Breakout Option LIBERTY LANE EAST OFFERING MEMORANDUM COLLIERS INTERNATIONAL P. 28

31 SITE PLANS Concept Plan Parcel B Conceptual for Parcel B. Proposed building 45,000± SF. LIBERTY LANE EAST OFFERING MEMORANDUM COLLIERS INTERNATIONAL P. 29

32 SITE PLANS Concept Plan Parcel C Conceptual for Parcel C. Proposed building 40,000± SF. LIBERTY LANE EAST OFFERING MEMORANDUM COLLIERS INTERNATIONAL P. 30

33 SITE PLANS Concept Plan Parcel E LIBERTY LANE EAST OFFERING MEMORANDUM COLLIERS INTERNATIONAL P. 31

34 LIBERTY LANE EAST For Sale Office Development Site > AREA INFORMATION COLLIERS INTERNATIONAL

35 AREA INFORMATION Town of Hampton Community Profile Community Contact Town of Hampton Frederick W. Welch, Town Manager 100 Winnacunnet Road Hampton, NH Telephone (603) Fax (603) Web Site Municipal Office Hours County Labor Market Area Tourism Region Planning Commission Regional Development Selectmen, Town Manager, Administrative Assistant: Monday through Friday, 8 am - 5 pm; Town Clerk: Monday through Thursday, 8 am - 5 pm, Friday, 8 am - 11:30 am; Tax Collector: Monday through Thursday, 8 am - 5 pm, Friday, 8 am - 12 noon Rockingham Portsmouth, NH-ME Metropolitan NECTA Seacoast Rockingham Coastal Economic Development Corp. Election Districts US Congress District 1 Executive Council District 3 State Senate District 24 State Representative Rockingham County Districts 21, 37 Incorporated: 1639 Origin: First called Winnacunnet, the Indian name for "pleasant pines," Hampton was one of four original New Hampshire towns established by the Massachusetts government. In 1638, the area, which included land now in Seabrook, Kensington, Danville, Kingston, East Kingston, Sandown, North Hampton, South Hampton, Hampton Falls, and Great Boar's Head, was settled by a group of parishioners led by Reverend Stephen Bachiler. The Reverend had previously preached in Hampton, England, and the town was incorporated as Hampton in Poet John Greenleaf Whittier was a direct descendant of Reverend Bachiler. Construction of the railroad in the 1850s made Hampton s oceanfront a popular resort. Villages and Place Names: Coffins Mill, Eastman Point, Elmwood Corners, Great Boars Head, Hampton Beach, Hampton Landing, North Beach, Plaice Cove, Smith Colony, The Five Corners, The Plantation, The Willows Population, Year of the First Census Taken: 853 residents in 1790 Population Trends: Population change for Hampton totaled 9,694 over 54 years, from 5,379 in 1960 to 15,073 in The largest decennial percent change was a 49 percent increase between 1960 and The 2014 Census estimate for Hampton was 15,073 residents, which ranked 18th among New Hampshire's incorporated cities and towns. Population Density and Land Area, 2014 (US Census Bureau): 1,095.4 persons per square mile of land area, the eighth highest among the cities and towns. Hampton contains 13.8 square miles of land area and 0.4 square miles of inland water area. LIBERTY LANE EAST OFFERING MEMORANDUM COLLIERS INTERNATIONAL P. 33

36 AREA INFORMATION Town of Hampton Community Profile CONT MUNICIPAL SERVICES Type of Government Selectmen Budget: Municipal Appropriations, 2015 $30,487,548 Budget: School Appropriations, $29,781,474 Zoning Ordinance 1949/15 Master Plan 2009 Capital Improvement Plan Yes Industrial Plans Reviewed By Planning Board Boards and Commissions Elected: Selectmen; Planning; Zoning; Library; Cemetery; Trust Funds; Budget; Checklist Appointed: Conservation; Highway Safety; Leased Land Real Estate; Recreation; Cable TV; Mosquito Control Public Library EMERGENCY SERVICES Police Department Fire Department Emergency Medical Service Lane Memorial Full-time Full-time Full-time Nearest Hospital(s) Distance Staffed Beds Exeter Hospital, Exeter 8 miles 99 DEMOGRAPHICS (US Census Bureau) Total Population Community County , , , , , , , , , , , ,951 Demographics, American Community Survey (ACS) Population by Gender Male 7,284 Female 7,789 Population by Age Group Under age Age 5 to 19 2,764 Age 20 to 34 1,528 Age 35 to 54 4,579 Age 55 to 64 2,758 Age 65 and over 3,029 Median Age 48.6 years Educational Attainment, population 25 years and over High school graduate or higher 96.1% Bachelor's degree or higher 47.1% UTILITIES Electric Supplier Natural Gas Supplier Water Supplier Sanitation Municipal Wastewater Treatment Plant Solid Waste Disposal Curbside Trash Pickup Pay-As-You-Throw Program Recycling Program Unitil; Eversource Energy Unitil Aquarion Water Company NH Municipal Yes Municipal No Mandatory Telephone Company Fairpoint Cellular Telephone Access Yes Cable Television Access Yes Public Access Television Station Yes High Speed Internet Service: Business Yes Residential Yes PROPERTY TAXES (NH Dept. of Revenue Administration) 2015 Total Tax Rate (per $1000 of value) $ Equalization Ratio Full Value Tax Rate (per $1000 of value) $ Percent of Local Assessed Valuation by Property Type Residential Land and Buildings 83.9% Commercial Land and Buildings 13.5% Public Utilities, Current Use, and Other 2.7% HOUSING (ACS ) Total Housing Units 9,516 Single-Family Units, Detached or Attached 6,234 Units in Multiple-Family Structures: Two to Four Units in Structure 1,108 Five or More Units in Structure 1,900 Mobile Homes and Other Housing Units 274 INCOME, INFLATION ADJUSTED $ (ACS ) Per capita income $43,081 Median family income $94,489 Median household income $73,750 Median Earnings, full-time, year-round workers Male $66,474 Female $51,406 Individuals below the poverty level 7.1% LABOR FORCE (NHES ELMI) Annual Average Civilian labor force 9,195 8,573 Employed 8,786 8,121 Unemployed Unemployment rate 4.4% 5.3% EMPLOYMENT & WAGES (NHES ELMI) Annual Average Covered Employment Goods Producing Industries Average Employment 1, Average Weekly Wage $1,008 $1,101 Service Providing Industries Average Employment 4,269 3,878 Average Weekly Wage $1,275 $ 993 Total Private Industry Average Employment 5,325 4,701 Average Weekly Wage $1,222 $1,012 Government (Federal, State, and Local) Average Employment 1,058 1,030 Average Weekly Wage $ 746 $ 879 Total, Private Industry plus Government Average Employment 6,383 5,731 Average Weekly Wage $1,143 $ 988 LIBERTY LANE EAST OFFERING MEMORANDUM COLLIERS INTERNATIONAL P. 34

37 AREA INFORMATION Town of Hampton Community Profile CONT EDUCATION AND CHILD CARE Schools students attend: Hampton operates grades K-8; grades 9-12 are part of Winnacunnet Cooperative District: SAU (Hampton, Hampton Falls, North Hampton, Seabrook) Career Technology Center(s): Seacoast School of Technology Region: 18 Educational Facilities (includes Charter Schools) Elementary Middle/Junior High High School Private/Parochial Number of Schools Grade Levels P K P K 1-8 Total Enrollment , Nearest Community College: Great Bay Nearest Colleges or Universities: University of NH 2016 NH Licensed Child Care Facilities (DHHS-Bureau of Child Care Licensing) Total Facilities: 7 Total Capacity: 363 LARGEST BUSINESSES PRODUCT/SERVICE EMPLOYEES ESTABLISHED Foss Manufacturing Co. of NH Auto, marine carpet 190 Brazonics Electroplating Sleep Net Sleep apnea products QA Tech Co., Inc. Spring contact probes Unitil Electric utility Waste Management Inc. Waste management service Wheelabrator Technologies Inc Renewable energy generating Co Aquarion Water Company of NH Water supplier Employer Information Supplied by Municipality TRANSPORTATION (distances estimated from city/town hall) Road Access US Routes 1 State Routes 1A, 27, 101E, 151 Nearest Interstate, Exit I-95, Exit 2 Distance Local access Railroad Public Transportation Guilford Rail Service No Nearest Public Use Airport, General Aviation Hampton Airfield Runway 2,100 ft. turf Lighted? Yes Navigation Aids? No Nearest Airport with Scheduled Service Manchester-Boston Regional Distance 39 miles Number of Passenger Airlines Serving Airport 4 Driving distance to select cities: Manchester, NH Portland, Maine Boston, Mass. New York City, NY Montreal, Quebec 38 miles 65 miles 46 miles 257 miles 293 miles COMMUTING TO WORK (ACS ) Workers 16 years and over Drove alone, car/truck/van 78.2% Carpooled, car/truck/van 6.9% Public transportation 0.7% Walked 2.0% Other means 1.6% Worked at home 9.5% Mean Travel Time to Work 26.8 minutes Percent of Working Residents: ACS Working in community of residence 29.5 Commuting to another NH community 47.4 Commuting out-of-state 23.1 RECREATION, ATTRACTIONS, AND EVENTS X Municipal Parks YMCA/YWCA Boys Club/Girls Club Golf Courses Swimming: Indoor Facility Swimming: Outdoor Facility X Tennis Courts: Indoor Facility X Tennis Courts: Outdoor Facility Ice Skating Rink: Indoor Facility Bowling Facilities X Museums Cinemas X Performing Arts Facilities X Tourist Attractions X Youth Organizations (i.e., Scouts, 4-H) X Youth Sports: Baseball X Youth Sports: Soccer X Youth Sports: Football X Youth Sports: Basketball Youth Sports: Hockey X Campgrounds X Fishing/Hunting X Boating/Marinas Snowmobile Trails Bicycle Trails X Cross Country Skiing X Beach or Waterfront Recreation Area Overnight or Day Camps Nearest Ski Area(s): McIntyre, Bradford (MA) Other: Indoor Soccer Arena; Hampton Beach State Park; Hampton State Pier; Annual Seafood Festival LIBERTY LANE EAST OFFERING MEMORANDUM COLLIERS INTERNATIONAL P. 35

38 AREA INFORMATION Demographics 5 Minute Drive Time 5 MINUTES Demographic Summary 2016 Population by Age 5 minutes Total Businesses 283 Total Employees 3, Population 3,407 3,515 Household 1,531 1,588 Families 978 1,009 Avg HH Income $103,582 $115, % 9.6% 15.8% 17.4% 5.4% 16.0% 22.5% 4.1% < Annual Growth Rate Percent Population Households Median Household Income Owner Occupied Housing Units Sources: U.S. Census Bureau, Census 2010 Summary File 1. Esri forecasts for 2016 and : Data on the Business Summary report is calculated using Esri s Data allocation method which uses census block groups to allocate business summary data to custom areas. LIBERTY LANE EAST OFFERING MEMORANDUM COLLIERS INTERNATIONAL P. 36

39 AREA INFORMATION Demographics 10 Minute Drive Time 10 MINUTES Demographic Summary 2016 Population by Age 10 minutes Total Businesses 1,314 Total Employees 13, Population 18,417 18,963 Household 8,312 8,614 Families 5,041 5, % 16.4% 8.8% 4.2% 15.5% 22.0% 3.9% < Avg HH Income $98,080 $107, % Annual Growth Rate Percent Population Households Median Household Income Owner Occupied Housing Units Sources: U.S. Census Bureau, Census 2010 Summary File 1. Esri forecasts for 2016 and : Data on the Business Summary report is calculated using Esri s Data allocation method which uses census block groups to allocate business summary data to custom areas. LIBERTY LANE EAST OFFERING MEMORANDUM COLLIERS INTERNATIONAL P. 37

40 AREA INFORMATION Demographics 15 Minute Drive Time 15 MINUTES Demographic Summary 2016 Population by Age 15 minutes Total Businesses 3,488 Total Employees 37, Population 51,040 52,872 Household 21,773 22,679 Families 13,785 14, % 16.7% 9.6% 4.6% 17.1% 4.4% 18.9% < Avg HH Income $102,147 $112, % Annual Growth Rate Percent Population Households Median Household Income Owner Occupied Housing Units Sources: U.S. Census Bureau, Census 2010 Summary File 1. Esri forecasts for 2016 and : Data on the Business Summary report is calculated using Esri s Data allocation method which uses census block groups to allocate business summary data to custom areas. LIBERTY LANE EAST OFFERING MEMORANDUM COLLIERS INTERNATIONAL P. 38

41 CONFIDENTIALITY & DISCLAIMER STATEMENT This Offering Package contains select information pertaining to the business and affairs of the Property at Liberty Lane East, Hampton, NH. It has been prepared by Colliers International. This Offering Package may not be all-inclusive or contain all of the information a prospective purchaser may desire. The information contained in this Offering Package is confidential and furnished solely for the purpose of a review by a prospective purchaser of the Property. It is not to be used for any other purpose or made available to any other person without the written consent of Owner or Colliers International. The material is based in part upon information supplied by the Owner and in part upon financial information obtained by Colliers International from sources it deems reliable. Owner, nor their officers, employees, or agents makes any representation or warranty, express or implied, as to the accuracy or completeness of this Offering Package or any of its contents and no legal liability is assumed or shall be implied with respect thereto. Prospective purchasers should make their own projections and form their own conclusions without reliance upon the material contained herein and conduct their own due diligence. By acknowledging your receipt of this Offering Package re: Liberty Lane East, Hampton, NH you agree: 1) The Offering Package and its contents are confidential; 2) You will hold it and treat it in the strictest of confidence; and 3) You will not, directly or indirectly, disclose or permit anyone else to disclose this Offering Package or its contents in any fashion or manner detrimental to the interest of the Owner. Owner and Colliers International expressly reserve the right, at their sole discretion, to reject any and all expressions of interest or offers to purchase the Property and to terminate discussions with any person or entity reviewing this Offering Package or making an offer to purchase the Property unless and until a written agreement for the purchase and sale of the Property has been fully executed and delivered. If you wish not to pursue negotiations leading to the acquisition of Liberty Lane East, Hampton, NH, or in the future you discontinue such negotiations, then you agree to purge all materials relating to the Property including this Offering Package. A prospective purchaser s sole and exclusive rights with respect to this prospective transaction, the Property, or information provided herein or in connection with the sale of the Property shall be limited to those expressly provided in an executed Purchase Agreement and shall be subject to the terms thereof. In no event shall a prospective purchaser have any other claims against Owner or Colliers International or any of their affiliates or any of their respective officers, directors, shareholders, owners, employees, or agents for any damages, liability, or causes of action relating to this solicitation process or the Offering or sale of the Property. This Offering Package shall not be deemed to represent the state of affairs of the Property or constitute an indication that there has been no change in the state of affairs of the Property since the date this Offering Package.