WEST END BUSINESS CENTER 54 GM ACCESS ROAD, MARTINSBURG, WEST VIRGINIA NEAR EXIT 16 OF I-81 Designed and constructed by local business leaders; occupied by the local business leaders; managed by the local business leaders, and, on-site records storage available... a user friendly environment for all. April 17, 2008 Page 1 of 8
Two structures 20,000 square feet each of new multipurpose space will be completed by November 2007. The individual units/bays will measure 25 feet wide by 70 feet in depth 1,750 square feet. Units may be finished as office space, as warehouse space or a combination. The ridge ceiling height in some units will be nearly 24 feet. Suites/units unless otherwise preferred may have drive-in access doors. Each unit can be built out and/or expanded to suit the tenant s specific needs. April 17, 2008 Page 2 of 8
The property has been designed to accommodate professional and service industry users in a manner that will provide an attractive business environment while meeting individual needs. There will be access to state-ofthe-art communications, all necessary utilities and up-graded facility security. Construction will be heavy gauge metal with a metal roof and will be fully insulated. When finished as office space a bay may include extra windows, conference rooms, offices and ample restrooms. For warehouse/service industry units, there will be show windows or drive-in doors to the front. Some bays may have drive-in at the front and exit to the rear if desired. April 17, 2008 Page 3 of 8
The owner will occupy and manage the facility. Hands-on owner management will provide for long-term maintenance and protection for the tenant-occupant s investment. LEASE INFORMATION The rental rates and terms will be competitive within the local marketplace. As is traditional for such properties, the larger the space the lower the rental rate will be per square foot. The longer the term of the lease, the lower the rental rate will be per square foot. This results from the need for individual installation of plumbing fixtures, electrical services, heating and air-conditioning, etc. Yet the advantage to tenant is that the tenant pays for the services the tenant actually uses. The preferred term of a lease will be a firm term of 3 to 5 years with options to extend the lease beyond the initial term as prescribed in the lease. There will be an annual increase in the base rent at the anniversary date of the lease of 3 percent. All terms and conditions of the lease must be in full force and effect for a lease to be extended. There will be a common area maintenance fee. This fee will be based upon a prorata of the actual costs associated with exterior lighting, cleaning, insurance, shared signage, pavement repairs and striping, etc. general maintenance items. It will not include capital improvements made by the owners. The owner will be responsible for all structure repairs to the units other than glass breakage or damage as a result of tenant s or tenant invitees negligence or vandalism. The tenant will pay its prorata share of the real estate taxes. If units are vacant, the owner is responsible for the real estate taxes on those units. The tenant will pay their personal property taxes and the owner will pay his personal property taxes. Upon payment of such taxes, the tenant will provide the owner with a copy of the receipt demonstrating all such are paid to date. The tenant will secure an insurance policy to cover the tenant s property and a general liability and property damage policy with limits of not less than One Million Dollars combined single limit per occurrence and Two Million Dollars in aggregate or as otherwise deemed acceptable to the Landlord. GENERAL AREA INFORMAION The property is approximately 20 minutes south of Hagerstown, Maryland, and the intersection of I-81 and I-70 leading into metropolitan Washington and Baltimore. International airline service is available in both DC and Baltimore. There is MARC train commuter service from Martinsburg into the metropolitan area. The property is 92 miles one and one-half hours from Harrisburg and the Pennsylvania Turnpike; about 3 hours and 15 minutes to Philadelphia, and 4 hours and 20 minutes to New York City. April 17, 2008 Page 4 of 8
Winchester, Virginia, is approximately 30 minutes south of the property. Numerous federal facilities are located in the immediate area or within commuting distance. The most recent federal addition to the immediate area is the U.S. Coast Guard Maritime Center. It will be constructed at a cost of $30 million to centralize licensing and documentation functions of the 17 regional examination centers throughout the country. The new facility is projected to be complete in the summer of 2007 and will employ 250 persons. It will be located on Edwin Miller Boulevard 2.3 miles, or 4 minutes, from the property. Interstate 81 has become a major north/south traffic artery for the movement of freight as well as traditional transportation. Portions of I-81 have been expanded to 6-lanes of traffic and the balance is scheduled for funding in the near future. Numerous sensitive governmental and financial facilities have been relocated or have developed backup facilities 50 or more miles to the west of the DC metropolitan area to provide greater security. Likewise, the Eastern WV Regional Airport is being upgraded to bed-down the C-5 jumbo transport jet. An outstanding facility is in development and attracting much deserved attention. The I-81 corridor is an attractive choice for such relocations. Other regional attractions include lower cost of living, lower crime rate, more secure schools, less costly housing, cleaner air and water, and an abundance of outdoor recreational activities. April 17, 2008 Page 5 of 8
Demographic Information Total Population 3-mile radius 5-mile radius 10-mile radius 2000 15,851 37,296 72,850 2006 19,234 45,803 91,064 2011 23,386 55,944 111,411 2006/2011 Rate 3.99% 4.08% 4.12% Households 2000 6,436 15,195 28,277 2006 7,936 18,984 36,272 2011 9,722 23,387 44,897 Median HHD Income 2000 $37,106 $35,193 $39,221 2006 $43,299 $42,070 $45,972 2011 $49,665 $48,870 $52,395 2006 Consumer Spending Apparel & Services $12,451,460 $28,157,314 $56,552,513 Computer & Accessories $1,600,185 $3,609,041 $7,257,029 April 17, 2008 Page 6 of 8
Education $7,214,554 $16,387,097 $31,508,217 Entertainment/Recreation $20,388,587 $46,332,887 $96,109,853 Food at Home $30,783,635 $70,397,057 $144,289,004 Food Away from Home $20,895,959 $47,456,852 $96,218,365 Health Care $23,041,785 $53,346,077 $111,967,912 HH Furnishings & Equip $11,790,301 $26,713,237 $55,303,051 Investment $26,275,400 $57,251,232 $108,445,956 Retail Goods $155,604,483 $356,189,138 $744,712,124 Shelter $87,468,197 $196,424,553 $394,423,629 TV/Video/Sound Equip $6,840,006 $15,603,887 $31,574,014 Travel $10,998,996 $24,802,184 $50,612,587 Vehicle Mtnc & Repair $6,660,384 $15,082,543 $31,078,121 April 17, 2008 Page 7 of 8
The demographic data source is ESRI, which is provided exclusively to the writer. All information contained herein is true and correct to my knowledge. However, all information should be verified to the tenant s satisfaction prior to entering into a lease. Prospective tenants are urged to seek professional advice. As prescribed by the West Virginia Real Estate Commission, I am working for the owner/landlord. Respectfully, June Parker Estill, RECS REALTOR /Broker April 17, 2008 Page 8 of 8