Smyrna (Atlanta MSA), GA · Atlanta’s most acclaimed chefs, 400,000 square feet of new class A...

I R E A

N a t i o n a l T i r e & B a t t e r yAbsolute NNN Lease

Smyrna (Atlanta MSA), GA

T R O P H Y L O C AT I O N A D J A C E N T T O T H E N E W $ 1 B AT L A N TA B R AV E S ’ S U N T R U S T S TA D I U M & T H E B AT T E R Y AT L A N TA

INVESTMENT REAL ESTATE ASSOCIATES

OFFICE16501 Ventura Blvd. Suite 448Encino, CA 91436Phone: 818.386.6888Fax: 818.386.2805

www.irea.com

I R E A

Chris ThompsonSenior Partner(818) [email protected]

INVESTMENT ADVISORS

DobbinsAir Reserve Base

The Promenade Shopping Center

Heritage Pavillion

Cumberland Square North

Cumberland Crossing Shopping Center

The Shops at CumberlandShopping Center

Cumberland Mall

WellStar WindyHill Hospital

Spring Road SESpring Road SE

Cumberland Blvd SE

Cumberland Blvd SE

Cobb Parkway ± 39,320 ADT

Cumberland Marketplace

I-75 FWY (281K CPD)

less than 1.1 miles away

5 min. car ride

Infiniti, GMC, CadillacHyundai, Chevrolet, & Kia

Adjacent To Area Auto Center:

NTB Location

Cobb Parkway SE (42k CPD)

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TEAM & TABLE OF CONTENTS | 3

4-5

6-7

8-9

10-11

14-15

16-17

Investment Overview

Location Overview

Living & Amenities

Aerial & Context

Investment Highlights

Roxy/ Entertainment Info.

Contents

18-19

Site & Tenant Profile

Financials

20-21

12-13Stadium/ The Battery Info.



Heritage Pavillion




Cumberland Mall



Cumberland Blvd SE

Cumberland Blvd SE



Trophy Location

SunTrust ParkHome of The

I-75 FWY (281K CPD) I-285 FWY (150K CPD)

Cobb Parkway SE (42k CPD)The Battery

Demographics

22-23

Omni Hotel/ Hospitality Info.

24-25

Absolute NNN with 15 years remaining on base lease and rental escalations every 5 years + options.

The Battery Atlanta is a $1.3 billion, 1.5 million square foot mixed-use destination that integrates a state-of-the-art Major League Baseball park with a multi-use development and community. The new home of the Atlanta Braves is the first of its kind, offering an unprecedented entertainment experience 365 days a year.

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Highlights

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INVESTMENT HIGHLIGHTS | 5

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ryHighlightsMajor Destination Center Atlanta Braves’ new $1 billion SunTrust Park and The Battery Atlanta™ are just 1.1 miles south of NTB.

Prime Trophy LocationStrategically located in premier retail and office location adjacent to Target Center and on the same street as the new Atlanta Braves SunTrust Stadium & The Battery Atlanta!

Adjacent To Area Auto CenterMajor auto dealerships include Infiniti, Cadillac, GMC, Hyundai, Chevrolet, & Kia (north of subject property).

Licensed LYFT FacilityThis NTB location features a dedicated licensed LYFT facility, with preferred pricing for LYFT vehicles.

Affluent DemographicsThe area has a five mile population exceeding 211,000 and an average household income of over $94,500.

Absolute NNN LeaseNational Tire & Battery is guaranteed by TBC Corp., one of the nation’s largest distributors of automotive tires and a subsidiary of Sumitomo Corp. of America (S&P: A-)

High Traffic Location Impressive traffic counts in excess of 42,000 cars per day along Cobb Parkway SE. 281,000 CPD along HWY I-75.

Rental Increases & OptionsRare CPI 12% rental increases every five years during primary term and the three 5-year options.

Property Type:Single Tenant Absolute NNN Lease

Address: 2195 Cobb Parkway SE Smyrna (Atlanta MSA), GA 30080

Tenants: National Tire & Battery

Rentable Area:6,922 Sq Ft | Land Area: 40,336 Sq Ft (0.926 Acres)

Parking:Surface: 26 Spaces

Built: 2013

Overview

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INVESTMENT OVERVIEW | 7

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ryInvestment OverviewIREA is pleased to offer for sale a freestanding, ±6,922 square foot National Tire & Battery store situated on 0.926 acres in Smyrna, Georgia (Atlanta MSA). Built in 2013, the property is operating on an absolute NNN lease with 15 years of primary term remaining, with three 5-year options to renew. The lease features CPI increases up to a rare maximum of 12% every five years. This NTB location also features a dedicated licensed LYFT facility, with preferred pricing for LYFT vehicles.

The property is ideally located on Cobb Parkway (Traffic Count: 42,000 CPD), just 1.5 miles from the intersection of I-285 and I-75 (Combined Traffic Count: 355,000 CPD), within the Cumberland Galleria community, one of metro Atlanta’s premier retail and office submarkets. The Cumberland Galleria area is expected to see major growth in the coming years as a result of the recent 2017 opening of the Atlanta Braves’ $1 billion SunTrust Park and The Battery Atlanta, which when fully completed, will feature approximately 1.5 million square feet of retail, restaurant, residential (approximately 500 residences), hotel and office space. The National Tire & Battery is located only 1.1 miles south of this amazing development.

The property is also strategically positioned within one of Atlanta’s premier commercial corridors with 8.5 MSF of retail, 24.6 MSF of office, 4.4 MSF of industrial, and 29,341 units of multifamily housing within a 3-mile radius. Other major retailers in the surrounding area include: Target, Best Buy, Aldi, Walgreens, Marshalls, TJ Maxx, PetSmart, Office Depot, OfficeMax, LA Fitness, Bank of America, Chase Bank, and Olive Garden among many others. In addition, the area benefits from infill demographics with a 5-mile population of 211,000 and average household income of $94,500.



Heritage Pavillion




Cumberland Mall



Cumberland Blvd SE

Cumberland Blvd SE



Local Aerial


I-75 FWY (281K CPD) I-285 FWY (150K CPD)

less than 1.1 miles away

5 min. car ride

The Battery

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Infiniti, GMC, CadillacHyundai, Chevrolet, & Kia

Adjacent To Area Auto Center:

NTB Location

Located near the heart of the area’s dominate destination center Atlanta SunTrust Park & The Battery Atlanta™

Cobb Parkway SE (42K CPD)

I-285 FWY (150K CPD)

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AERIAL & CONTEXT MAPS | 9

less than 18 miles away

30 min. car ride

Aerial Provided

Downtown ATL

Cobb Parkway SE (42K CPD)

I-75 FWY (281K CPD)

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The Battery Atlanta™ is the South’s preeminent NEW lifestyle destination.


The Battery

Located along I-75 and I-285, The Battery Atlanta™ is a 1.5 million-square-foot mixed-use development in the Cumberland area. Anchored by SunTrust Park - the new home of the Atlanta Braves - The Battery Atlanta combines a variety of architectural styles to produce the ultimate live, work, shop, and dine environment. This premier location has become the area’s dominate destination center.

The area surrounding NTB is one of Atlanta’s preeminent retail, office, and hotel centers with approximately 40 hotels within 3 miles, operated by national brands including Marriott, Sheraton, Hyatt, Renaissance, Hilton, Holiday Inn, and Hampton Inn & Suites. Additionally, the Cumberland office submarket is the second-largest in the Atlanta metropolitan area, with total rentable area of approximately 25.6 MSF. Cumberland-Galleria is home to 76,400 jobs and is expected to add 50,000 more jobs over the next 30 years. Many Fortune 500 and international companies have a significant presence in the Cumberland-Galleria area, including corporate headquarters for The Home Depot, GE Energy Management, Travelport, and The Weather Channel.

National Tire & Battery’s location next to this exceptional development offers a prospective purchaser entry into a high growth, “A” class market that is positioned to thrive.

Premier Trophy Location

LOCATION OVERVIEW | 11

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For most Atlanta Braves fans visiting SunTrust Park for the first time, the focus will likely be on the game.

But where do you gear up for the action — or wind down after it’s over? The Battery, the entertainment complex attached to the park, offers up spots to throw back a cold beer, down a gourmet sausage or chow down on a burger or BBQ.

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More than a few dining options!

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THE BATTERY & SUNTRUST PARK | 13

The Battery Atlanta is a $1.3 billion, 1.5 million square foot mixed-use destination that integrates a state-of-the-art Major League Baseball park with a multi-use development and community. The new home of the Atlanta Braves’ is the first of its kind, offering an unprecedented entertainment experience 365 days a year.

The Battery redefines the traditional model of a “live, work, play” development into a “play, work, stay” destination, with SunTrust Park as its crown jewel. Featuring upwards of 400,000 square feet of unique and experiential retail—including restaurants by some of Atlanta’s most acclaimed chefs, 400,000 square feet of new class A office—adding to the area’s already booming daytime population, and over 500,000 square feet of residential in the immediate area.

Atlanta Braves’ SunTrust Park & The Battery Atlanta™

12

DELIVERING A NEW STANDARD TO THE SOUTHEAST

37% INCREASE IN GAME

ATTENDANCE

3 MILLION PROJECTED FAN VISITS PER YEAR

+1,300NEW RESIDENTS

RESIDENTIAL: 523,000 SF

OFFICE: 400,000 SF

HOTEL: SF

RETAIL: 400,000 SF

• 550 UNITS OF ONE, TWO & THREE BEDROOM CONDOS

• HOME TO COMCAST’S SOUTHEAST HEADQUARTERS, WHICH EMPLOYS 1,000+ INDIVIDUALS IN ITS 250,000 SF SPACE

• 1,050 HOTEL ROOMS

• UNIQUE AND EXPERIENTIAL RETAIL INCLUDING RESTAURANTS BY SOME OF ATLANTA’S MOST ACCLAIMED CHEFS

at SunTrust ParkHOME OF THE

12

DELIVERING A NEW STANDARD TO THE SOUTHEAST

37% INCREASE IN GAME

ATTENDANCE

3 MILLION PROJECTED FAN VISITS PER YEAR

+1,300NEW RESIDENTS

RESIDENTIAL: 523,000 SF

OFFICE: 400,000 SF

HOTEL: SF

RETAIL: 400,000 SF

• 550 UNITS OF ONE, TWO & THREE BEDROOM CONDOS

• HOME TO COMCAST’S SOUTHEAST HEADQUARTERS, WHICH EMPLOYS 1,000+ INDIVIDUALS IN ITS 250,000 SF SPACE

• 1,050 HOTEL ROOMS

• UNIQUE AND EXPERIENTIAL RETAIL INCLUDING RESTAURANTS BY SOME OF ATLANTA’S MOST ACCLAIMED CHEFS

at SunTrust ParkHOME OF THE

Home at The Battery Atlanta is a brand-new collection of spacious residences, modern flats and styled amenities located at the doorstop of the Atlanta Braves’ new home, SunTrust Park.There are three apartment communities named Residences, Parkside and Flats that together make up “Home at The Battery Atlanta (500+ units altogether).

Residences will have 81 apartments overlooking The Battery’s epicenter. These units will enjoy rooftop bars, lounges, TV gallery and wrap-around balcony with views of SunTrust Park.

For more info visit:www.homeatthebatteryatl.com

Home at the Battery Atlanta

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Residences Apts.Parkside Apts.

Flats Apts.

Living with a view!

LIVING & AMENITIES | 15

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The Coca-Cola Roxy, Atlanta’s brand-new concert venue, opened in April of 2017. The 3,600 capacity venue is located in The Battery Atlanta, a mixed-use development next to SunTrust Park, home of The Atlanta Braves. It is conveniently located near the intersection of interstates 75 and 285.

The new two-tiered intimate venue has a flexible configuration including a general admission floor, theatre-style seating and permanent seating in the balcony. Both levels are ADA wheelchair accessible. The 53,000 square foot site has state of the art sound, lights and production capabilities for live music, corporate meetings and private events. The Coca-Cola Roxy hosts approximately 40 shows per year and presents a diverse range of local, national and international artists and bands.

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The Coca-Cola Roxy

Entertainment just steps away

ROXY/ ENTERTAINMENT | 17

A unique city full of dining, sports, entertainment, and adventure, Atlanta is the perfect travel destination. Omni Hotel at The Battery Atlanta offers an exclusive experience to stay in the center of The Battery Atlanta and SunTrust Park and access to other popular attractions: Coca Cola Roxy Theater, Six Flags Over Georgia, The Georgia Aquarium and more.

Catch a game at SunTrust Park, grab dinner at the multiple dining options at The Battery Atlanta, or catch a show at the Coca Cola Roxy Theater. Everything you need for a memorable stay is in walking distance from Omni Hotel at The Battery Atlanta.

For more info visit:www.omnihotels.com/hotels/atlanta-battery

The Battery Holiday Bash!NTB - IREA

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ryOmni Hotel & Resort

Relax and soak up some rays at the Omni Hotel elevated pool deck while enjoying premium views of The Battery Atlanta.

For ultimate relaxation, indulge poolside with refreshing beverages and American bites at our pool bar!

List of Nearby Hotels

A Memorable experience!

OMNI HOTEL/ HOSPITALITY INFO. | 15

1) DoubleTree Suites by Hilton Hotel (4 Min)2) Hyatt Place Atl. (13 Min)3) Renaissance Atl. Waverly Hotel (25 Min)4) Residence Inn (18 Min)5) Sheraton Suites (16 Min)6) Wingate by Wyndham (12 Min)

& Walking-Distance In Minutes

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Site Diagram

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NTB Adjacent Directly West of Target Center

Originally founded in 1997 by Sears and sold to Sumitomo Corporation in 2003, National Tire & Battery is a subsidiary of TBC Corporation, one of the largest marketers and distributors of automotive tires in the U.S. The company has more than 10,500 employees throughout the U.S., Canada, and Mexico and operates four retail tire and automotive service center brands (Tire Kingdom, Big O Tires, Merchant’s Tire & Auto Centers, and National Tire & Battery) with more than 1200 total locations, 38 tire distribution centers under the Carroll Tire Company brand, and through its TBC Brands division represents thirteen proprietary tire brands.

The company has been an independent wholly-owned subsidiary of Sumitomo Corporation of America (S&P: A-) since SCOA purchased TBC Corporation in 2005, taking TBC private after 22 years of being publicly traded. NTB offers a full array of automotive products and services, including oil changes, wheel alignments, tire rotation and installation, battery and wiper blade replacement, and suspension inspections, all performed by ASE-certified technicians.

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National Tire & Battery

SITE & TENANT PROFILE | 21

Financial SetupN a t i o n a l T i r e & B a t t e r yAbsolute NNN Lease

2195 Cobb Parkway SE, Smyrna (ATL | MSA), GA, 30080

NTB_Smyrna (ATL) by Supreme Commander Thompson

Purchase Price: $3,650,000 Lease Begin: 4/15/13

Down Payment: 100% $3,650,000 Lease Expire: 4/30/33 (15+ Yrs. Remaining)

Approx. Lot Size: 40,336 (0.926 Acres)

CAP Rate: 5.0% Net Square Feet: 6,922

Cash on Cash Return: 5.0% Year Built: 2013

Parking: 26 Spaces

Cap Rate$182,163 5/1/2018 to 4/30/2023 5.0%

$204,022 5/1/2023 to 4/30/2028 5.6%$228,505 5/1/2028 to 4/30/2033 6.3%

Three 5-year options following base lease.

Financial Indicators

CPI rent escalations every 5-years max rare 12%, next bump in 2023

Property to be delivered free of debt.

Information deemed reliable, but not guaranteed.

Annual Rents

Property Abstract

Notes

NTB_Smyrna (ATL) by Supreme Commander Thompson

Purchase Price: $3,650,000 Lease Begin: 4/15/13

Down Payment: 100% $3,650,000 Lease Expire: 4/30/33 (15 Yrs. Remaining)

Approx. Lot Size: 40,336 (0.926 Acres)

CAP Rate: 5.0% Net Square Feet: 6,922

Cash on Cash Return: 5.0% Year Built: 2013

Parking: 26 Spaces

Cap Rate$182,163 5/1/2018 to 4/30/2023 5.0%

$204,022 5/1/2023 to 4/30/2028 5.6%$228,505 5/1/2028 to 4/30/2033 6.3%

Three 5-year options following base lease.

Financial Indicators

CPI rent escalations every 5-years max rare 12%, next bump in 2023

Property to be delivered free of debt.

Information deemed reliable, but not guaranteed.

Annual Rents

Property Abstract

Notes

T R O P H Y L O C AT I O N A D J A C E N T T O T H E N E W $ 1 B AT L A N TA B R AV E S ’ S U N T R U S T S TA D I U M & T H E B AT T E R Y AT L A N TANTB - IREA

Highlights

Investment HighlightsAbsolute NNN Lease w/ 15 Years Remaining on Base Term

Affluent Region w/ Average Household Income Exceeding $94,500

Population Density Exceeds 211,000 Within a Five‐Mile Radius

CPI Rent Escalations Every 5-Years, Max Rare 12%, Next Bump in 2023

Highly Traffic Count Location w/ over 42,000 Cars Per Day

Within 1.1 Miles of Area's Destination Center:

The Battery at Atlanta Braves Stadium

Three 5-Year Options To Renew

Premier Retail Location

T R O P H Y L O C AT I O N A D J A C E N T T O T H E N E W $ 1 B AT L A N TA B R AV E S ’ S U N T R U S T S TA D I U M & T H E B AT T E R Y AT L A N TA FINANCIALS | 23

NTB By The Numbers (5, 3, & 1 Mile Radius)

Total Population

2017 5 Mile: 211,330 | ‘17 3 Mile: 97,333 | ‘17 1 Mile: 14,982

2022* 5 Mile: 225,813 | ‘22 3 Mile: 104,695 | ‘22 1 Mile: 16,026

Total Businesses & Employees

Within 1 Mile Radius



1,237 & 15,747

6,913 & 112,710

11,774 & 169,751

GARVEY EXCHANGE - IREA

Total Average Household by Income

2017 5 Mile: $94,711 | ‘17 3 Mile: $80,802 | ‘17 1 Mile: $55,768

2022* 5 Mile: $107,100 | ‘22 3 Mile: $93,862 | ‘22 1 Mile: $66,796

Total Median Household by Income

2017 5 Mile: $58,379 | ‘17 3 Mile: $55,114 | ‘17 1 Mile: $41,325

2022* 5 Mile: $68,058 | ‘22 3 Mile: $63,641 | ‘22 1 Mile: $48,720

*Projected 2022

Affluent Demographics:Five mile population exceeding 211,000 and an average household income of over $94,500.

DemographicsNTB - IREA

THE INFORMATION PROVIDED HEREIN IS FROM SOURCES WE BELIEVE ARE RELIABLE. WHILE WE DO NOT DOUBT ITS ACCURACY, WE HAVE NOT VERIFIED IT AND MAKE NO REPRESENTATIONS, GUARANTEES OR WARRANTIES ABOUT IT.

NTB - IREA

3/1/2018 Business Analyst

https://bao.arcgis.com/esriBAO/index.html?cacheBust=1# 1/4

Households By IncomeThe largest group: $35,000 - $49,999 (19.5%)

The smallest group: $200,000+ (1.5%)DifferenceIndicator Value

<$15,000

$25,000 - $34,999

$15,000 - $24,999

$50,000 - $74,999

$35,000 - $49,999

$75,000 - $99,999

$100,000 - $149,999

10.8%

$150,000 - $199,999

$200,000+

15.4%

13.8%

18.0%

19.5%

9.6%

9.5%

1.9%

1.5%

+2.8%

+7.1%

+6.0%

+7.6%

-0.1%

-3.0%

-7.9%

-5.8%

-6.7%

Bars show deviation from

Cobb County

EDUCATION

13%

No HighSchool

Diploma 16%High School

Graduate

29%Some College 41%

Bachelor's/Grad/ProfDegree

INCOME

$41,325Median Household

Income

$27,466Per Capita Income

$12,012Median Net Worth

EMPLOYMENT

62%White Collar

17%Blue Collar

21%Services

6.4%

UnemploymentRate

KEY FACTS

14,982Population

30.3

Median Age

2.0

Average

$41,325Median Household

BUSINESS

1,237Total Businesses

15,747Total Employees

Sources: IREA; ESRI Information Services; U.S. Census Bureau of Labor Statistics; Wikipedia; Fortune/Money.CNN.com; Forbes; Business Insider;Moody's; Zillow; Trulia; City of Glendale; Los Angeles County; Los Angeles Times; REIS; California Association of Realtors; DataQuick; Curbed LA; Glendale News-Press; San Fernando Valley Business Journal; Glendale Unified School District; Glendale Community College; ThinkGlendale.com; Los Angeles Times.

NTB By The Numbers (5 Mile Radius/ Subject Property)

Avg Household Size Median Household Income

DEMOGRAPHICS | 25

INVESTMENT REAL ESTATE ASSOCIATES

OFFICE16501 Ventura Blvd. Suite 448Encino, CA 91436Phone: 818.386.6888Fax: 818.386.2805

www.irea.com

Chris ThompsonSenior Partner(818) [email protected]

INVESTMENT ADVISORS

I R E A

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NTB - IREA

Smyrna (Atlanta MSA), GA · Atlanta’s most acclaimed chefs, 400,000 square feet of new class A...

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