210 Delburg Street

210 Delburg Street

CHRONOLOGY:

• Original structure built in 1920 by Davidson Cotton Company.• Several additions to the original over time.• 23,305 square feet on 1.668 acres.

• Most recent owner was Bridgeport Fabrics Inc. Bridgeport operated from 1963 to 2010. Bridgeport approached Davidson in July 2013.

• Conducted Environmental survey phase 1 and 2 in early 2014.

• Purchased by Davidson in October 2014 for $730,000.($20,000 held in escrow for execution of Brownfield Agreement)

• Began Brownfield process in May 2015. Estimated conclusion June 2016.

210 Delburg Street

VALUE:

Stage 1: Purchase

Appraisal = $720,000

Stage 2: As-is, with Brownfield Execution

Market Evaluation = $980,000

Stage 3: Shell Renovation Potential

Market Evaluation = $4.66MM - $5.2MM

Purchase = $730,000

October 2014 June 2016

Purchase = $730,000Environmental = $20,000Upfit = $3,250,000

Purchase = $730,000Environmental = $20,000