Former Havertys 45,540 SF Retail Center 1911 Crestwood Boulevard Irondale, AL Page of 16
Executive Summary The property is a 45,540 square foot retail center located in Birmingham, AL in the Irondale submarket. This attractive free standing building is located directly off I 20 at the signalized hard corner of the access road of I 20 and Crestwood Boulevard. This high quality retail building has its own billboard, viewable from both directions on I 20 with more than 54,000 vehicles per day. Built in 1997, this single story stucco building is beautifully built out with high end retail finishes and is move in ready. The warehouse portion is served by two dock high loading doors. Ceiling height is 24 clear with skylights. The property is zoned C1 and is offered at $42.82 per square foot. INVESTMENT SUMMARY Square Footage 45,540 Year Built 1997 Land Area 2.4 Acres Price $1,950,000 Page 2 of 16
Table of Contents Former Havertys 1911 Crestwood Boulevard Irondale, AL 35210 Page Executive Summary 2 Table of Contents and Disclaimer 3 Investment Highlights 4 Property Photos 5 Sold Comparable 6 Retail Map 7 Aerial Images 8 Location Maps 9 Demographics 10 11 Traffic Counts 12 13 Jefferson County and Birmingham 14 Broker Profiles 15 16 Any included income, expenses, cap rates, costs, return estimates, renovations, measurements, square footage, acreage, projections, interest rates, loan terms, property condition, possible uses, zoning and other information herein may have been provided by the seller, landlord or other outside sources and while deemed to be reliable, may be estimated, projected, is subject to change, and/or may be limited in scope, and therefore shall not be relied upon as accurate. Any such information important to the purchaser, lessee or other parties should be independently confirmed within an applicable due diligence period. Please do not disturb the management, business, tenants or sellers. This offer is subject to prior change or sale without notice. Michael Bull, CCIM President & Founder 404.876.1640 x2001 Michael@BullRealty.com Theresa Johnson Vice President National Retail Group 404.876.1640 x109 Theresa@BullRealty.com John Harrison Associate 404.876.1640 x106 John.Harrison@BullRealty.com Page 3 of 16
Investment Highlights Address County Approximate Square Feet Acres 1911 Crestwood Boulevard Irondale, AL 35210 Jefferson County 45,540 Square Feet 2.4 Acres Year Built 1997 Occupancy Vacant Zoning C 1 Price $1,950,000 Price / SF $42.82 Investment Highlights Viewable from I 20 with more than 54,000 vehicles per day Traffic counts in excess of 21,000 vehicles per day on each cross street Highly visible location with easy access Property Average household income within a 5 mile radius is $66,661 High end retail finishes Move in ready Page 4 of 16
Property Photos Front of Property Property Sits on Access Road to I 20 Showroom Interior Loading Docks At Side of Property Side of Property with View of Billboard Billboard On Property Page 5 of 16
Sold Comparable Subject Property Location: 1911 Crestwood Boulevard, Irondale, AL Year Built: 1997 Square Feet: 45,540 List Price: $1,950,000 Price per SF: $42.82 Sold Comparable Location: 7621 Crestwood Boulevard, Irondale, AL Year Built: 1977 Sale Date: 12/2010 Square Feet: 6,611 Sale Price: $720,600 Price per SF: $109.00 Page 6 of 16
Retail Map Page 7 of 16
Aerial Images Property Page 8 of 16
Location Maps Directions from Downtown Birmingham: Get on I 20 East / I 59 North and follow I 20 when they split. At Exit 132A, take the ramp and turn right onto Oporto Madrid Boulevard. Take an almost immediate left onto US 78 East / Crestwood Boulevard. The property will be on the right in 1.2 miles. Page 9 of 16
Demographics Page 10 of 16
Demographics Page 11 of 16
Traffic Counts Page 12 of 16
Traffic Counts Page 13 of 16
Jefferson County / Birmingham Jefferson County Named after Thomas Jefferson, the main author of the Declaration of Independence and third President of the United States, Jefferson County was founded in 1819 by the Alabama Legislature. Home to nearly 700,000 residents, Jefferson County is Alabama s most populous county. Page 14 of 16
Broker Profiles Theresa Johnson Vice President, National Retail Group O) 404.876.1640 x 109 C) 770.329.9330 Theresa@BullRealty.com Bull Realty, Inc. 50 Glenlake Parkway, Suite 650 Atlanta, GA 30328 Theresa Johnson s practice focuses on helping clients sell and acquire retail investment properties in the southeast. Ms. Johnson has extensive experience in the acquisition, sales, asset management and operations of grocery anchored shopping centers. Her professional relationships extend nationwide to include the largest REITs, funds, and investment companies within the retail sector. Theresa is an active member of the International Council of Shopping Centers and Certified Commercial Investment Member (CCIM). In addition to having her own real estate company for over ten years as a principal, she continuously increases her knowledge with attending nationwide conferences and seminars. Ms. Johnson graduated from Georgia State University with a BA in Marketing and has held a Real Estate license since 1989. She lives in Atlanta with her husband Bruce and daughter Josephine. She enjoys working in the community and has served on several non profit boards and on the Executive Board of the Oglethorpe Museum. John Harrison Associate 404.876.1640 x 106 John.Harrison@BullRealty.com Bull Realty, Inc. 50 Glenlake Parkway, Suite 650 Atlanta, GA 30328 A Georgia native, John has been involved in the market for 30 years and has enjoyed affiliations with Ackerman & Co, McWhirter Realty Corp. and Roberts Commercial. John enjoys a strong reputation as a deal closer and shows passionate attention to every transaction. His journey in commercial real estate has given him extensive experience in leasing, management and development; however, John s focus has been consistently on investment sales. John entered undergraduate studies at Davidson College and completed his degree at Emory University. He began his career with Ackerman & Co. in the early 1980 s and since then he has closed leases and investment sales in excess of $200 million. He has been a member of the Million Dollar Club for 15 years and is a recipient of the Phoenix Award. Property sales in his resume include the sale of over 50 retail centers and office properties. John has sold over $40 million in medical properties in the past 10 years. John has been married to wife Stephanie for 24 years and they have two sons. John enjoys coaching kids in soccer, family tennis and hanging out at Starbuck s with his wife. He has a love of politics and history and is an accomplished pianist. Page 15 of 16
Broker Profile Michael Bull, CCIM President 404.876.1640 x 2001 Michael@BullRealty.com Bull Realty, Inc. 50 Glenlake Parkway, Suite 650 Atlanta, GA 30328 Mr. Bull is the founder and managing broker at Bull Realty's Atlanta office. Michael works daily with the companies agents and clients to add value to their real estate endeavors. His mission is to continually improve the services, systems and support to help his agents be the most successful in the business by providing the best client services in the industry. Mr. Bull is involved with many networking and professional organizations including the National Associations of REALTORS, the Association of Georgia Real Estate Exchangers, the International Council of Shopping Centers, the Real Estate Brokerage Managers Council, the Atlanta Leaders Group and the Atlanta Chamber of Commerce. Michael lives in the Chastain Park area of Atlanta and enjoys spending time with his family, performance boating, basketball and music. Michael Bull has been successful in the commercial real estate business for 30 years. He started managing apartments in 1977 and starting selling investment properties in 1979. Michael has been involved in over 2.5 billion dollars of sales and leases. He and his firm have extensive experience helping clients and lenders in past down cycles. Among other management, leasing and advisory recovery services Bull Realty is currently selling notes and foreclosed commercial properties for 74 lenders and servicers. Michael originally opened Bull Realty in 1998 with three people for his own practice in Atlanta. He felt his seller clients deserved more national exposure for their properties than the national firms provide. The benefit of the firm s marketing platform has become even more apparent in this cycle as clients look closer at how properties are marketed. Bull Realty now has over thirty brokers and is doing business throughout the United States. Bull is currently marketing over four hundred million dollars of exclusive listings and has over one hundred and fifty million dollars of properties under contract preparing to close. Co Star recently reported that Bull Realty has the number one market share of commercial properties for sale in the Atlanta MSA. Bull Realty is a commercial real estate brokerage firm providing marketing and acquisition services across the country for institutional and private equity investors, lenders, institutions and users of commercial real estate. The firm is well known for their successful marketing platform and industry leading use of technology. Specific broker teams specialize in retail, office, industrial, apartments, land, medical, hospitality, and special asset services. Bull Realty provides marketing and other services for 74 lenders and servicers. Google chooses BullRealty.com as the number one website for the most often used search phrase for Commercial Real Estate Georgia. Bull Realty marketing services includes videos of appropriate properties. The firm hosts the Commercial Real Estate Show, a talk radio show which airs at 10AM EST every Saturday on air at biz1190am and on line at www.commercialrealestateshow.com. Page 16 of 16