Offering Memorandum - LoopNet...The potential of adding ±5,622 SF in the warehouse would increase...

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Offering Memorandum WINDWARD BUSINESS CENTER | 18,283 SF

Transcript of Offering Memorandum - LoopNet...The potential of adding ±5,622 SF in the warehouse would increase...

Page 1: Offering Memorandum - LoopNet...The potential of adding ±5,622 SF in the warehouse would increase the total building size to ± 23,905 RSF of office space. There is a value-add opportunity

Offering MemorandumW I N DWA R D B U S I N E SS C E N T E R |1 8 , 2 8 3 S F

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D I S C L A I M E R & L I M I T I N G C O N D I T I O N S 3E X E C U T I V E S U M M A R Y 4

P R O P E R T Y D E TA I L S 5L O C AT I O N M A P S 6

A D D I T I O N A L P H O T O S 7F L O O R P L A N S 8

A E R I A L A N D S U R V E Y 9R E TA I L M A P 10

S A L E C O M P S M A P 11A B O U T T H E A R E A 12B R O K E R P R O F I L E 13

T A B L E O F C O N T E N T S

50 Glenlake Parkway, Suite 600Atlanta, GA 30328BullRealty.com

Sean WilliamsS.V.P. National Office [email protected] x126

Exclusively listed by Bull Realty, Inc.

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D I S C L A I M E R & L I M I T I N G C O N D I T I O N SW I N D W A R D B U S I N E S S C E N T E R | 1 8 , 2 8 3 S F

Bull Realty has been retained as the exclusive listing broker to arrange the sale of the Subject Property.

This Offering Memorandum contains selected information pertaining to the Property but does not purport to be all-inclusive or to contain all of theinformation that a prospective purchaser may require. All financial projections are provided for general reference purposes only and are based uponassumptions relating to the general economy, competition and other factors, which therefore, are subject to material change or variation. Prospectivepurchasers may not rely upon the financial projections, as they are illustrative only. An opportunity to inspect the Property will be made available toqualified prospective purchasers.

In this Offering Memorandum, certain documents, including financial information, are described in summary form and do not purport to be complete oraccurate descriptions of the full agreements involved, nor do they constitute a legal analysis of such documents. Interested parties are expected toreview independently all documents.

This Offering Memorandum is subject to prior placement, errors, omissions, changes or withdrawal without notice and does not constitute arecommendation, endorsement, suitability or advice as to the value of the Property by Bull Realty Inc. or the current Owner/Seller. Each prospectivepurchaser is to rely upon its own investigation, evaluation and judgment as to the advisability of purchasing the Property described herein.

Owner/Seller expressly reserve the right, at its sole discretion, to reject any or all expressions of interest or offers and/or to terminate discussions withany party at any time with or without notice. Owner/Seller shall have no legal commitment or obligation to any purchaser reviewing this OfferingMemorandum or making an offer on the Property unless a written agreement for the purchase of the Property has been fully executed, delivered andapproved by the Owner/Seller and any conditions to the purchaser's obligations therein have been satisfied or waived. The Owner/Seller reserves theright to move forward with an acceptable offer prior to the call for offers deadline.

This Offering Memorandum may be used only by parties approved by the Broker. The Property is privately offered, and by accepting this OfferingMemorandum, the party in possession hereof agrees (i) to return it if requested and (ii) that this Offering Memorandum and its contents are of aconfidential nature and will be held and treated in the strictest confidence. No portion of this Offering Memorandum may be copied or otherwisereproduced or disclosed to anyone without the prior written authorization of Bull Realty, Inc. The terms and conditions set forth above apply to thisOffering Memorandum in its entirety and all documents, disks and other information provided in connection therewith.

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Located in the affluent Windward community of Alpharetta, Georgia, 145 Nobel Courtconsists of a ± 18,283 SF two-story office building situated on a 1.6 acre professionallylandscaped site. Featuring an impressive cantilevered metal entrance, tubulararchitectural elements, and dramatic two-story lobby, the building is configured with asuitable mix of private offices along with open areas. The building is also equipped with amanufacturer-maintained elevator, restrooms on each floor and a covered rear loadingdock with ramp. The ± 1.6 acre site provides ample surface parking and includes amonument sign at the entrance.

The potential of adding ±5,622 SF in the warehouse would increase the total building sizeto ± 23,905 RSF of office space. There is a value-add opportunity to reposition this assetthrough capital improvements, allowing lease-up with long term tenants at market rate.

Currently occupied by several tenants on flexible leases, the building affords a new ownerthe option of occupying a portion of the building immediately. Some leases can beterminated with 60 days’ notice and the entire building is potentially available for anowner/user.

Please do not disturb tenants or businesses.

PROPERTY OVERVIEW• Approximately 18,283 SF two-story office building

• 6,377 RSF total contiguous space available (suites 200/210)

• Open lobby boasting a dramatic two-story entrance

• Configured with a good mix of private and open areas

• Approximately 5,622 SF of two-story storage space which can be built out as offices onboth floors

• Area amenities include abundant restaurants, shopping, and entertainment choices

• Centralized high-tech infrastructure and labor workforce

• Additional ± 2.4 acre adjacent tract available, please contact agent for details

PROPERTY HIGHLIGHTS

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PRICE | $2,400,000

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Project Name: Windward Business Center | 18,283 SF

Property Address: 145 Nobel Court, Alpharetta, GA 30005

County: Fulton

Building Size: 18,283 SF

Site Size: 1.54 Acres

Zoning: CUP

Year Built: 2001

Parking: 64 Spaces (3.5/1,000 SF)

Number Of Stories: 2

Number Of Elevators: 1

Number Of Units: 5

Sale Price: $2,400,000

P R O P E R T Y D E TA I L SW I N D W A R D B U S I N E S S C E N T E R | 1 8 , 2 8 3 S F

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Windward Business Center is located less than 2 miles from GA-400 at WindwardParkway. Alpharetta is located just 22 miles north of Atlanta, is the 6th fastestgrowing city in the U.S., and Forbes named Alpharetta the #1 City to relocate to inthe country: http://growalpharetta.com/

Area amenities include abundant restaurants, shopping, and entertainmentchoices. Alpharetta offers excellent housing options, from executive tobudget-friendly and everything in between, as well as high-tech infrastructure andlabor workforce. Download speeds are 60 percent faster in Alpharetta than thenational average, according to the city's economic development director, PeterTokar. There are more than 600 technology-based companies with centers ofoperations in Alpharetta, as the area's extensive network of fiber optic data linescreate a competitive edge for tech companies.

Source: ESRI

LOCATION DESCRIPTIONPOPULATION 1 MILE 3 MILES 5 MILESTOTAL POPULATION 5,765 50,961 131,372

MEDIAN AGE 33.5 33.7 35.5

MEDIAN AGE (MALE) 32.2 32.9 34.9

MEDIAN AGE (FEMALE) 34.7 34.5 35.8

HOUSEHOLDS & INCOME 1 MILE 3 MILES 5 MILESTOTAL HOUSEHOLDS 2,185 19,387 47,138

# OF PERSONS PER HH 2.6 2.6 2.8

AVERAGE HH INCOME $122,330 $112,288 $119,730

AVERAGE HOUSE VALUE $452,724 $394,094 $383,449

L O C AT I O N M A P SW I N D W A R D B U S I N E S S C E N T E R | 1 8 , 2 8 3 S F

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F L O O R P L A N SW I N D W A R D B U S I N E S S C E N T E R | 1 8 , 2 8 3 S F

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SUBJECT PROPERTYAddress City Size Sold Date Sale Price Price/SF

145 Nobel Court Alpharetta 18,283 SF - $2,400,000 $131.27

SALES COMPSAddress City Size Sold Date Sale Price Price/SF

1 178 S Main St Alpharetta 24,500 SF 12/07/2016 $3,500,000 $142.86

2 2850 Old Atlanta Rd Cumming 15,800 SF 07/07/2017 $2,250,000 $142.41

3 7905 Westside Pky Alpharetta 20,000 SF 09/08/2015 $3,700,000 $185.00

4 1450 S Johnson Ferry Rd N Atlanta 15,000 SF 03/06/2017 $2,550,000 $170.00

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A B O U T T H E A R E AW I N D W A R D B U S I N E S S C E N T E R | 1 8 , 2 8 3 S F

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ALPHARETTA, GEORGIAWhether you’re new to Alpharetta or a lifelong resident, there’s much to discover in thisbeautiful and vibrant southern city. A unique blend of excellent schools, incredible jobopportunities, great shopping, cultural events and abundant green space. It’s no wonderAlpharetta is one of the hottest markets in both commercial and residential real estate.Through all of its progress, the city has kept its down-to-earth character, which may be whypeople who live here usually stay here and why there’s always something new and excitinghappening.

In the heart of Alpharetta, Avalon is a sustainably designed, 86-acre development with morethan 500,000 square feet of retail, a 12-screen all premium theater, a full-service hotel(coming in Phase II), Class A office, single-family residences and luxury rental homes. Avaloninfuses resort-level hospitality throughout a walkable, seamlessly connected community ofshopping, dining, entertainment, living and working. This upscale destination feels more likea town hang-out, with streetlights, sidewalks, fountains and a central park space that canhouse musicians or convert to a picturesque skating rink during the holiday season. Avalonis a hub of local culture and activity that delivers the luxury of the modern South.

North Point Mall is the area’s premier shopping center with over 1.3 million square feet ofretail space. Just outside the mall, you’ll also find two movie theater complexes, an ice androller skating facility and a wide range of restaurants

Set on 45 acres of wooded land in Alpharetta, Verizon Wireless Amphitheater provides aunique setting for music lovers. It’s a beautiful, park-like atmosphere for concertgoers toenjoy music surrounded by large heritage trees, plants and flowers. The 12,000-seatamphitheater seats 7,000 under a roof, and another 5,000 on the Superior Lawn area.

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B R O K E R P R O F I L EW I N D W A R D B U S I N E S S C E N T E R | 1 8 , 2 8 3 S F

Bull Realty is a commercial real estate sales, leasing, management and advisory firm headquartered inAtlanta licensed in nine Southeast states. The firm was founded in 1998 on two primary missions: to provide acompany of advisors known for integrity and to provide the best disposition marketing in the nation. Stillguided by these philosophies, the firm's services have expanded to include disposition, acquisition, projectleasing, property management, tenant representation and consulting services. To add additional value andefficiency for clients, advisors focus on specific sectors and services in the office, retail, industrial,multifamily, land, healthcare, senior housing, self-storage, automotive, hospitality and single tenant net leasesectors.

The firm produces America's Commercial Real Estate Show, a national video show and podcast enjoyed bymillions of people around the country. Industry analysts, leading market participants and the firm's founderMichael Bull share market intelligence, forecasts and success strategies. The show has aired every week since2010 on iTunes, YouTube and www.CREshow.com. The firm also produces Atlanta's Commercial Real EstateShow available on AtlCREshow.com.

404-876-1640 x126

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50 Glenlake Parkway, Suite 600Atlanta, GA 30328

[email protected] #275556

S.V.P. National Office GroupSEAN WILLIAMS Professional Background

Sean Williams specializes in delivering expert brokerage advisory services for institutional investors andcorporate users of office properties in the Atlanta MSA and Georgia.

Utilizing the latest technology and digital resources, Sean provides the highest levels of professionalismcombining a diligent work ethic and attention to detail. As a native and life-time resident of Atlanta, Sean hashalf a century of history and first-hand knowledge of commercial real estate in Atlanta and the southeasternregion.

Experience:

Some of Sean’s recent projects and clients include: Northwinds Summit, Weatherstone Park, Avalon CenterOffice Park, Atlanta Executive Center, The Eclipse, Alpharetta Medical Center, Barrett Court Offices, PeachtreeDunwoody Park, Oakdale Business Park, Atlanta West Business Center, Peachtree Corners Corporate Centre,Technology Park/Atlanta, Woodpark Medical Office, The Windsor Over Peachtree, Towne Lake Business Center,Edward Jones, 1-800-FLOWERS, Cobb Pediatric Therapy Services, Byram Healthcare, Allergy & Asthma of GA,DSI Renal, IP Communications, Lekotek of Georgia, Milan Eye Center, DynamiX Web Design, Alpharetta MedicalGroup, Davis & Church Engineering, PT SolutionsBull Realty Inc.