IVY RIDGE - COMMERCIAL DEVELOPMENT PHASE II AUGUSTA COUNTY, VIRGINIA

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1 AUGUSTA COUNTY, VIRGINIA Page 1

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3 Offering Overview Commercial Sites in Fast Growing Area Immediate Area is now Hub of Medical Community Site is Ideal for Senior Care/Assisted Living Facility Recent Expansion of Interstate Exit Ramps All Sites in Ready to Build Condition Experienced Seller Willing to Work Closely with Buyer Established Commercial and Industrial Park Page 3

4 The surrounding area within 2 square miles of the Ivy Ridge Commercial Site has seen a growth surge over the past several years with the most noteworthy being the construction of Augusta Health, which is rapidly expanding its presence in the area with addition of Cardiac and Cancer Facilities. See In addition to Augusta Health, the University of Virginia has facilities in the immediate area with a recent construction of a Pediatric Facility, Dialysis Facility and Multi- Specialty Clinic. See Mary Baldwin College has finished construction on a 52,000 square foot building in Fishersville, Virginia. See Ivy Ridge Commercial Site is ideally located in a fast growing area that has become the medical hub for Augusta County. In addition to the growth in the immediate vicinity, the significantly higher land and housing costs in surrounding communities have caused many to look to the Ivy Ridge Area as an area for their home or business. For example, Charlottesville, Virginia is an area that has experienced extensive growth and has since become expensive for people to live and work so many of those affected are moving west toward Augusta County - specifically towards the Ivy Ridge vicinity. IVY RIDGE - COMMERCIAL DEVELOPMENT PHASE II is comprised of 9 commercial lots being sold in aggregate as a 19 acre commercial site. The lots are ready to build on, fully entitled and have all off-site improvements (road, water, sewer, etc.) in place. Among the numerous by-right uses, this property is ideal for the development of a medical office park, senior housing or for the expansion of UVA s Medical Center s presence in the area. The property would also be suitable for a shopping center development, hotel and restaurant development, medical & professional office development and/or big box retail development. The development surrounding the site is a mix of single-family and multi-family residential, industrial and commercial developments. The subject site comprises the last remaining commercial lots within the Ivy Ridge development. The Seller understands that the final site plan configuration for the Ivy Ridge development sites depends on the successful purchasers intended use, final tenant line up and preferred layout. The Seller is committed to working with the successful purchaser to modify the site plan submission as required to obtain final site plan approval. Page 4

5 The property is ideally located with close access to I-64 (and I-81) and is centrally located between Waynesboro, Staunton, and Stuarts Draft. This is a designated growth area for the County of Augusta. To accommodate the current and ongoing development needs, the Virginia Department of Transportation recently completed $43 million in improvements to the I-64 interchange (just east of the entrance to Augusta Hospital and just west of Ladd Road, the arterial road that serves the Ivy Ridge Commercial Property). For more about the highway expansion go here: and search for interstate 64 project. Other commercial sites within Ivy Ridge Commercial Phase I and the surrounding area have now become home to businesses such as Wendy's, McDonald s, Sheetz (refueling/convenience store and which is one of their highest grossing locations), Exxon Gas, and Hampton Inn along with several new strip centers which cater to the local population. The adjacent single-family development that is part of the overall Ivy Ridge Development Master Plan includes a 52 single-family detached home section and a 66 unit townhome development. Page 5

6 Overview Property: IVY RIDGE - COMMERCIAL DEVELOPMENT PHASE II Augusta County, VA Lot Size (Acres): Lot Size (SF): 830,907 Page 6

7 Aerial Map and Plot Map Page 7

8 Commercial Lot Description & Suggested Uses: OPTION A *While there are several variations and possibilities for commercial development, the Owners suggested uses would have Lots C-20, C-20A, & C-21 developed for higher commercial use like a strip mall, fast food, fast casual and chain restaurants, hotels/motels, banks, medical and business offices, etc. and the remaining 6 lots used for senior housing, assisted living, 55+ apartments, etc. PLEASE NOTE: The current platted lot lines could be changed/removed as well as the noted portion of Briar Knoll Court & cul-de-sac should the Purchaser's design needs for their proposed project require it. Lot # Lot C-14 Lot C-15 Lot C-16 Lot C-17 Lot C-18 Lot C-19 Lot C-20 Lot C-20A Lot C-21 Description of Suggested Uses: OPTION A Ideal Lot for Professional Offices Minimal Grading Needed Ideal Lot for Medical/Professional Offices Minimal Grading Needed Ideal Lot for Senior Care Facility Level Lot, Pad ready Ideal Lot for Assisted Living Facility Great View of Lake Pad Ready Ideal Lot for Short Term Housing/Motel - Mountain & Lake Views Ideal Lot for Business or Offices Moderate Grading Corner Lot Fronting Ladd Road (RT 631) Strip Mall -Pad Ready Nice Level Lot with Good Access Offices - Sewer Line at Center of Lot Excellent Lot Fronting Ladd Road (RT 631) Strip Mall - Pad R Page 8

9 Commercial Lot Description - Suggested Uses - II Lot # Lot C-14 Lot C-15 Lot C-16 Lot C-17 Lot C-18 Lot C-19 Lot C-20 Lot C-20A Lot C-21 Description of Suggested Uses -II Ideal Lot for Professional Offices Minimal Grading Needed Ideal Lot for Medical/Professional Offices Minimal Grading Needed Ideal Lot for Shopping Center or Big Box Store Level Lot, Pad ready Ideal Lot for Hotel or Restaurant Great View of Lake Pad Ready Ideal Lot with Beautiful Mountain & Lake Views Ideal Lot for Business or Offices Moderate Grading Beautiful Corner Lot Fronting Ladd Road (RT 631) Pad Ready Nice Level Lot with Good Access Sewer Line Close to Center of Lot Excellent Lot Fronting Ladd Road (RT 631) - Pad Ready OTHER USES FOR THE PROPERTY ARE AVAILABLE AND A FULL LIST OF POSSIBLE USES IS SET FORTH IN CHAPTER 25. ZONING FOR AUGUSTA COUNTY BUSINESS DISTRICTS ATTACHED. Page 9

10 Investment Overview Ivy Ridge Commercial and Industrial; park is located immediately south of heavily traveled interstate 64 with excellent road frontage on tinkling Springs (Route 608) and Ladd Road. The county supports commercial development of the property. The Seller will deliver the Ivy Ridge Commercial sites in the following condition: Cleared and Graded, (Some Lots are Pad Ready) All Utilities (electricity, public water) available to each lot All offsite improvements completed or bonded All internal roads serving the commercial area are complete and built to county and state (VA) standards, to be accepted into the VA Department of Transportation (VDOT) secondary road system Storm water management system in place This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to acres, square footage and age are approximate. Buyer must verify the information and bears the risk for any inaccuracies. Page 10

11 Investment Overview Ivy Ridge Project The commercial lots currently available for sale are in yellow. The lots located to the south and east of the lots currently for sale are the residential portions of the community. This residential portion encompasses 52 single-family homes and a 66 unit townhome complex. The lots located to the west are the industrial portions of the development. The industrial portion of the development has been sold out and is now home to FedEx, Averitt Express and Old Dominion among others. All roads into the complex have been paved and are completed. This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to acres, square footage and age are approximate. Buyer must verify the information and bears the risk for any inaccuracies. Page 11