Buford Square Leasing Package D. Penn Hodge 4080 McGinnis Ferry Rd. Suite 1402 Alpharetta, GA 30005 C 678.762.9950 T 678.928.1516 F 678.762.9952 E dphodge@earthlink.net W www.pennhodge.com
Table of Contents Investment Overview Investment Highlights...3-4 Property Overview Suite Summaries...5 Leasing Plan...6 Location...7 Aerial Photographs...8-9 Building Photographs...10-11 Market Overview Metro Atlanta...12-16 Demographic Snapshot...17 Penn Hodge Properties Resume...18 Disclaimer...19
Investment highlights Overview Qualified investors are extended the opportunity to purchase the fee simple interest in the retail shopping center totaling 164,088 square feet known as Buford Square. Located at 1605 Buford Highway, Buford (Metro Atlanta) Georgia, this property represents an opportunity to acquire an investment property located in northeast metro Atlanta that lends itself to upside by leasing the current vacant suites. - Opportunity to create tremendous value by leasing the current vacant suites - Prime corner traffic with traffic light access - 16.983 acres - Strong market / location Year Built and Site The site was built in 1984 and contains 16.983 acres and is generally rectangular in shape. Demographic Overview 1 Mile 3 Mile 5 Mile 2013 Population Estimate 3,810 43,777 109,345 2013 Average Household Income $57,230 $72,039 $78,081 Access The subject property enjoys favorable access to metro Atlanta s interstate system as well as multiple north/south traffic arteries that connect the northwest portions of Gwinnett County with areas to the south and the City of Atlanta.
Investment highlights Area Buford Square is located along the southeasterly side of Buford Highway, at the intersection of Buford Highway and Buford Drive (GA Highway 20), in the northwesterly portion of Gwinnett County, within the city limits of Buford, Georgia. This location is approximately 30+ miles northeast of the CBD of the City of Atlanta. The neighborhood has recently experienced a steady pattern of growth, primarily due to it s proximity to the Mall of Georgia and new construction in proximity to GA Highway 20 (Buford Drive) between I-985 and I-85. The subject area is convenient to many major area thoroughfares, as well as the cities of Suwanee, Buford, Duluth, Norcross and Lawrenceville. Traffic Count According to the 2011AADT Traffic Counts, approximately 24,250 cars travel past the property on Buford Highway, and 41,080 cars travel past the property on Buford Drive (GA Highway 20) as part of their daily route. (See map)
Suite summary Buford Square Suite Summary Suite Square Footage / Occupied Description A-C 90,152 Former K-Mart D 3,040 Occupied Beauty Supply E 1,500 Occupied Hair Salon F 1,500 Formerly Occupied G 1,500 Occupied Pawn Shop H 1,500 Occupied Nail Salon I 49,298 Former Kroger J-L 4,800 Formerly Occupied M-O 4,800 Formerly Occupied P 1,200 Occupied GNC Q 1,200 Formerly Occupied R 1,200 Occupied Acupuncture S 1,200 Occupied Restaurant T 1,200 Formerly Occupied
Leasing Plan Suite Square Footage Tenant A-C D E F G H I J-L M-O P Q R S T 90,152 3,040 1,500 1,500 1,500 1,500 49,298 4,800 4,800 1,200 1,200 1,200 1,200 1,200 Beauty Supply Hair Salon Pawn Shop Nail Salon GNC Acupuncture Cafetal Grill & Cafe A-C D EF-GH I J-L M-O P Q R S T
Location The subject property is located at the intersection of Buford Highway and Buford Drive (GA Highway 20) within the city limits of Buford, Georgia. The area is densely developed with a good mix of commercial properties and has a strong supporting residential base in the immediate vicinity. Buford Square s location enjoys strong traffic counts, excellent visibility and superior access with a signalized intersection.
Aerial photography
Aerial photography
Building photography
Building photography
Metro Atlanta Atlanta is considered by many economists and real estate investors to be the most dynamic major metropolitan area in the United States. Home to over 5.1 million people, the Atlanta metropolitan area is the ninth largest Metropolitan Statistical Area in the country. It has a solid, diverse economy and pro-business atmosphere, with strong political, demographic and geographic qualities. Atlanta consistently ranks at or near the top of many expert opinion polls and survey rankings. Atlanta is recognized for its superior business environment in Expansion Management Magazine (Jan 2006) where it is listed as the third hottest city for business relocation and expansion. Atlanta also ranked third in Site Selection Magazine s Top Ten Metros, complimented by the state of Georgia claiming the number two spot for Top State Business Climate (November 2007). In addition to these recognitions, Chief Executive Magazine ranked Georgia as the fifth Best States for Business (Jan 2006) and EWEEK Magazine acknowledged Atlanta as number two in Beyond the Valley: 10 Blooming U.S. Cities for Tech (June 2006). As a major international gateway, Atlanta has been labeled the Capital of the Southern region of the United States. Consistently termed The New South, it continues to be one of the fastest growing regions in the nation. Businesses enjoy the benefits of low operating costs, a high quality of life, low cost of living and a well-educated workforce. As the top job-producing economy in the United States, Metropolitan Atlanta is projected to continue leading the nation in job creation well into the 21st century. Atlanta s influence is not limited to the Southeastern region of the country. The Atlanta Chamber of Commerce characterizes Atlanta s national and international business strength in the following statement: Every time you sip a Coca-Cola, send a package via UPS, bunk down overnight at a Holiday Inn, board a Delta Airlines plane or watch the news as it happens on Cable News Network (CNN), you re doing business with Atlanta. Atlanta has consistently been ranked at or near the top of the National Real Estate Investor as the most favored metropolitan area for real estate investment. But real estate is not the only indicator of Atlanta s economic success and future opportunities. Successful businesses, growing organizations, positive economic indicators and a continuing population influx affirm Atlanta s standing as one of the most preeminent economic powerhouse cities in the United States. A diversified economy with consistent growth continues to be the hallmark of the Atlanta economy. Since 2000, the metropolitan Atlanta region has added, on average, over 140,000 new residents each year. The continuous population growth, coupled with the steady robust growth in employment, creates an economic strength not shared by many cities in the United States. Every time you sip a Coca-Cola, send a package via UPS, bunk down overnight at a Holiday Inn, board a Delta Airlines plane or watch the news as it happens on Cable News Network (CNN), you re doing business with Atlanta. - Metro Atlanta Chamber of Commerce
metro atlanta Employment During recent years, metropolitan Atlanta s industry base has increased significantly. Metro Atlanta has led the nation in net new job growth in the last decade, adding nearly 1,386,500 new jobs. The Atlanta area, over the ten year period from December 1996 to December 2006, reported a 33% increase in total employment. - Services is the largest sector currently accounting for 27% of the jobs in Metropolitan Atlanta. Retail and Wholesale Trade is the second largest sector, accounting for about one-fifth of jobs. - Atlanta was the third largest metro for employment in the United States in 2006, and one out of the only three metros in the country that has an employment growth rate exceeding 2%. - Atlanta s current labor force of approximately 3 million is expected to nearly double by 2030, adding nearly 2 million jobs to the already bustling economy. One of the hallmarks of the Atlanta economy is its diversity. The broad-based nature of this economy will continue as each employment sector is expected to see robust growth --- Atlanta Regional Commission Business Some of the lowest operating costs in the nation prevail in the twenty-county Atlanta region. This combined with a talented workforce makes for a winning combination for businesses to expand and relocate to Atlanta. Whether building to suit or renting, the Atlanta region is a bargain for both small businesses and Fortune 500 companies. One key factor keeping business costs low is Georgia s corporate tax rate of six percent, which has remained constant for over 30 years. - World leaders consistently rank Atlanta as one of the top metros for business. - More than 200 businesses relocate or expand into the Metro Atlanta area every year - More than 700 of the Fortune 1000 companies have operations in Atlanta, with 22 of those headquartered here, among which are 13 Fortune 500 companies. 1. New York... 45 2. Houston...22 3. Atlanta...12 4. Chicago...11 Fortune Magazine: Top Cities with the Most Fortune 500 Headquarters 4. Dallas...11 6. Minneapolis...8 6. Philadelphia...8 8. Charlotte...7 8. Pittburgh...7 8. St. Louis...7 11. Cincinnati...6 11. Milwaukee..6 11. Seattle...6 Source: Fortune Magazine
metro atlanta Transportation Transportation is central to metro Atlanta s growth and success. Through innovative planning and bold leadership, Atlanta boasts one of the most extensive transportation systems in the country, including an outstanding international airport, the ninth largest transit system in the United States, rail access and a superior mass transit system, MARTA (Metropolitan Atlanta Rapid Transit Authority). Hatfield-Jackson Atlanta International Airport The World s Busiest Passenger Airport Serving more than 84 million passengers a year, Hartsfield-Jackson is best characterized by its accessibility and 24-hour convenience. An estimated 80% of the US market (approximately 200 million consumers) is within a 2-hour flight of Atlanta. Improvements to the airport continue with its latest runway addition, increasing its flight capacity with a total of five runways and serving to claim the distinction of being one of the few airports to handle triple simultaneous landings. With over 2,700 flights per day connecting metropolitan Atlanta s business community with every major market and business community in the world, Hartsfield-Jackson deserves its title - Gateway to the World. Marta The Metropolitan Atlanta Rapid Transit Authority (MARTA) operates bus and rapid rail services in Fulton County and neighboring DeKalb County. Through both its bus and rail services, MARTA has the capacity to transport nearly one million passengers per day. MARTA s rapid transit rail covers more than 48 miles, with 38 train stations across four lines. Rail Service Atlanta, which was built around a stake in the ground that marked the terminating point for the Western and Atlantic Railroad, is still a major railroad center. CSX and Norfolk Southern railroads operate piggyback facilities in Atlanta with overnight service available from the ports of Savannah, Brunswick, Jacksonville, and Charleston. Both railroads also operate stack trains to and from the West Coast. AMTRAK provides passenger rail service to and from Atlanta. We ve got the world s busiest airport, the third-highest concentration of Fortune 500 companies in the nation, cutting-edge research universities that attract the young professionals from all over the globe, the lowest cost of doing business in the nation and plenty of sunshine. Combine all that with the fact that Atlanta is the business capital of the Southeast, and it s easy to see why people are coming here in droves. --- Sam A. Williams, President of Metro Atlanta Chamber of Commerce
metro atlanta Transportation - Interstate Highway Network At the intersection of three interstates, Atlanta serves as the crossroads of the southeast United States. Georgia has the largest highway system in the South. The state contains 1,244 miles of interstate highways and 19,095 miles of designated Federal and State highways. Atlanta is one of the few cities with three major interstate highways converging near the Central Business District, making it a hub for regional commerce and distribution. The Atlanta convergence of I-85 links the Southeast to the Northeastern US; I-75 is the link running between Florida and Midwestern economic centers; and I-20 is the main East/West artery in Georgia. I-285 is the perimeter highway which encircles Atlanta, serving as a bypass and providing additional connections for all three major interstates. Education A well-educated workforce is a key to economic growth and Atlanta residents hold the sixth highest number of advanced degrees in the US. Also contributing to the growth potential of the region are the educational opportunities that abound in metropolitan Atlanta. More than 3 dozen colleges and universities offer 350 programs of study to more than 200,000 students each year. Nationally prominent educational institutions include: Marta - Agnes Scott Women s - College Clark Atlanta University - Emory University - Georgia Institute of Technology - Georgia State University - Kennesaw State University - Mercer University - Morehouse College - Morris Brown College - Oglethorpe University - Spelman College - University of Georgia
metro atlanta Continuing Growth What makes Atlanta such a prominent metropolitan city, is not only its past and present characteristics and growth, but also its projected future growth. FDI Magazine recognized this, awarding Atlanta the fourth North American City of the Future. Atlanta s growth trends are not a statistic of the past, but a representation of what many analysts project to be a steady, robust, and diverse growth for years to come. The Atlanta Regional Commission s population and employment forecasts for Metropolitan Atlanta show the area s growth will continue through the year 2030. Metro Atlanta is predicted to grow to nearly seven million residents across the twenty-county MSA by the year 2030, averaging 91,000 new residents per year. In addition to this 46% increase in population, it is predicted that between 2005 and 2030 Atlanta will see a 67% increase in jobs, totaling nearly five million by 2030. As well as its population and employment growth, Atlanta has been highlighted for being the nation s leader in attracting the Young and Restless demographic group (25-34 year olds). This well-soughtafter group is described as the young, college-educated professionals and companies want them for their talent and knowledge. Needless to say, cities want them for their economic future. With so many positive influences, Atlanta s economy shows no sign of slowing down. Real estate professionals remain optimistic about the overall climate and all eyes are on this ever-growing metro to see where this continuous growth will lead. FDI Magazine: North American Cities of the Future / Top Ten Major Cities of the Future 1. Chicago 2. Toronto 3. Pittsburgh 4. Atlanta 5. Guadalajara 6. Baltimore 7. Montreal 8. Mexico City 9. Boston 10. Miami Source: Fortune Magazine In a ranking of the economic, business and financial strengths of cities across the NAFTA region, Atlanta is one of the only cities to place in the top five of three or more of the seven subcategories. Atlanta placed 4th in Best Human Resources ; 3rd in Best Economic Potential ; 3rd in Best Infrastructure ; and 1st in Most Business Friendly. ---FDI Magazine
demographic snapshot Population: 2018 Projection 2013 Estimate 2010 Census Growth 2000-2010 3-mile 48,053 43,777 40,946 60.76% 5-mile 120,883 109,345 101,656 74.51% 7-mile 223,144 203,340 190,201 65.23% Households 2018 Projection 2013 Estimate 2010 Census Growth 2000-2010 3-mile 48,053 43,777 40,946 60.76% 5-mile 120,883 109,345 101,656 74.51% 7-mile 223,144 203,340 190,201 65.23% Income 2013 Est. Avg. HH income 2013 Est. Median HH Income 3-mile $64,443 $53,874 5-mile $73,022 $63,509 7-mile $78,733 $68,232
Resume Penn Hodge COMPANY OVERVIEW: Penn Hodge, LLC (PHLLC) is an Atlanta-based real estate development and investment firm concentrating in commercial and single family residential real estate developments, acquisitions, joint ventures and sales. We are transaction driven with specific expertise and focus on retail developments. Penn Hodge also has an extensive advisory background retail,lodging, leisure, land and operating resort properties. Over the past twenty five years, the Principals of PHLLC have been directly involved in the acquisition, marketing and sale of real property in excess of $2.5 billion in value. Our experience comes from diverse backgrounds of finance, investment banking, sales, law and accounting. Our powerful combination of investor and developer/ owner relationships coupled with our proven abilities enables PHLLC to identify, create and execute real estate investment opportunities of distinction and excellence. Penn Hodge s Educational Background: Bachelors Degree in Accounting at the University of Georgia (1978 1982) Doctorate in Jurisprudence at the University of Georgia School of Law (1982 1985) Licensed to practice Law in the State of Georgia Civil Involvement: Board Member of the State of Georgia of Economic Development Committee Board Member of the Fulton County Development Authority Board Member for the Greater North Fulton Chamber of Commerce Recipient of the 2004 GNFCC Zachary Henderson Award for Excellence Board Member of Windward Business Association Board Member of the North Fulton Community Improvement Development
Penn HODGE a Leasing package Disclaimer This Confidential Financing Memorandum ( Memorandum ) is being provided for the sole purpose of evaluating the prospective financing of Addison Place Shops, Bethany Pointe, Creekstone Village Center and Sydney Center; and is not to be used for any other purpose or made available to any other party without the prior written consent of Penn Hodge, (the Owner or Ownership ). This Memorandum was prepared by Penn Hodge. It contains select information about the Property and the real estate market but does not contain all the information necessary to evaluate the financing of the Property. The financial projections contained herein are for general reference only. They are based on assumptions relating to the overall economy and local competition, among other factors. Accordingly, actual results may vary materially from such projections. While the information contained in this Memorandum and any other Evaluation Material is believed to be reliable, Penn Hodge does not guaranty its accuracy or completeness. Because of the foregoing, a prospective lender (or other party authorized by the prospective lender to use such material solely to facilitate the prospective lender s investigation) must make its independent investigations, projections and conclusions regarding the financing of the Property without reliance on this Memorandum or any other Evaluation Material. Although additional Evaluation Material, which may include engineering, environmental or other reports, may be provided to qualified parties as the marketing period proceeds, prospective lenders should seek advice from their own attorneys, accountants, engineers and environmental experts. Owner expressly reserves the right, at its sole discretion, to reject any offer or to terminate any negotiations with any party at any time with or without written notice. Owner shall have no legal commitment or obligations to any prospective lender unless and until a definitive written agreement has been fully executed, delivered and approved by Owner. This Memorandum will be used by you for the sole purpose of evaluating the prospective financing of the Property and will not be used in any way detrimental to Hodge. This Memorandum will be kept confidential by you and not disclosed to any other parties; provided, however, such information may be disclosed to your directors, officers, employees and representatives acting on your behalf who need to know such information for the purpose of helping you evaluate the prospective financing of the Property (it being agreed that such directors, officers, employees and representatives shall be informed by you of the terms of this Disclaimer and shall agree to be bound by the terms hereof). D. Penn Hodge 4080 McGinnis Ferry Rd. Suite 1402 Alpharetta, GA 30005 C 678.762.9950 T 678.928.1516 F 678.762.9952 E dphodge@earthlink.net W www.pennhodge.com