2440 sandy plains om 101017 - loopnet...marietta, ga 30066 6,000 square foot office building...

2440 SANDY PLAINS RD BUILDING FIVE

Available for SaleOff ering Memorandum

MARIETTA, GA 30066

6,000 SQUARE FOOT OFFICE BUILDING

Contacts

DANY KOE

Assistant Vice President

+1 404 892 7248

[email protected]

EMILY RICHARDSON

Associate

+1 404 574 1086

[email protected]

Promenade, Suite 800

1230 Peachtree St., N.E.

Atlanta, GA 30309

Phone +1 404 888 9000

www.colliers.com/atlanta

2

Table of Contents

Executive Summary

Executive Summary ...................................................................................................................................................................................................... 4

Investment Highlights ..................................................................................................................................................................................................... 5

Property Profi le

Property Profi le .............................................................................................................................................................................................................. 6

Location Map .................................................................................................................................................................................................................. 7

Location Aerials ..............................................................................................................................................................................................................8

Floor Plans ................................................................................................................................................................................................................... 10

Interior Photos ............................................................................................................................................................................................................. 12

Market Overview

Overall Atlanta Offi ce Statistics .................................................................................................................................................................................... 15

Northwest Submarket Offi ce Statistics ......................................................................................................................................................................... 16

3CONTACTS: DANY KOE tel: +1 404 892 7248CONTACTS: DANY KOE tel: +1 404 892 7248 | EMILY RICHARDSON tel: +1 404 574 1086

Colliers International (“Colliers”) has been retained on an exclusive basis to sell, on

behalf of American Security Insurance Company, the building known as 2440 Sandy

Plains Road, Building 5, located in Sandy Plains Executive Park. The property is

located in unincorporated Cobb County, south of the intersection of E. Piedmont Road

and Sandy Plains Road. Dozens of retail amenities are in walking distance.

This 6,000 square foot, (4)-sided brick building was built in 1988 and renovated in

2008. The two-story offi ce building is currently being utilized as a training facility

by a single occupier. 2440 Sandy Plains Road would make a great investment

opportunity for an owner/occupier or investor. The building can be leased up to (4)

1,500 SF units; each suite is independently metered. Current lease rates average

$11/SF Modifi ed Gross. Investors, do not miss this chance to capitalize on a well

maintained professional offi ce park, in a great location with high visibility.

The Opportunity

Villa Rica Rd

Jones Shaw Rd

Springs Rd

Powder

Cobb Pkwy

Roswell

Rd

Roswell Rd

Lower

boro Rd

Shallowford Rd

Rd

Ebenzer

RdPiedmont

Sand

y

Bells Ferry R

d

Tric

kum

Rd

Woo

Baker Rd

Old USHwy 41

Macland Rd

Whitlock Ave

Plai

ns R

d

Barrett Pkwy

Ernest W.

KennestoneHospitalat Windy Hill

CobbGalleriaCentre

Cobb County-McCollumField

WellStarKennestoneHospital

Six FlagsWhite WaterAtlanta

TowneCenter atCobb

TownCenterCommons

SOUTHERNCOLL. OFTECHNOLOGY

KENNESAWSTATECOLLEGE

DobbinsAFB

KENNESAWMTN. NATL.BATTLEFIELDPARK

CumberlandCreek CC

CentennialGolf Course

CanterburyWoodsGolf Course

MariettaGolfCourse

Marietta CityCountry Club

NTY

2440 SANDY PLAINS RD - BLDG 5

4CONTACTS: DANY KOE tel: +1 404 892 7248 CONTACTS: DANY KOE tel: +1 404 892 7248 | EMILY RICHARDSON tel: +1 404 574 1086

Executive Summary

The Location + Submarket

2440 Sandy Plains Road is located approximately fi ve miles east of I-75. The county is

known for its low property taxes, top-performing schools, parks and recreational facilities .

Cobb County continues to be known for its growing business community. With the recent

relocation of the Atlanta Braves to Cobb County, and the resurgence of business activity, it is

an ideal place when considering real estate investment.

Occupancy gains are anticipated through the end of 2017 which should keep the submarket

in positive territory for the year. The Cumberland/Galleria average rental rate has increaed

2.3% from last quarter and is up a full $10/sf from this time last year.


Investment Highlights

2440 Sandy Plains Road

Building Type Offi ces/showroom

Building Address

2440 Sandy Plains Road, Building 5

Marietta, GA 30066

Total SF 6,000

Site Acreage 0.10

Year Built 1987, Renovated in 2008

Parking Spaces:

25

Building Exterior:

Offi ce/Showroom - brick

Roof: Pitched shingles

Zoning: OI (Offi ce-Industrial District Zoning)

Utilities:

Water/Sewage: Cobb County

Electricity: Cobb EMC

Gas: Gas South


Property Specifi cations

Rica Rd

Springs Rd

Cobb Pkwy

Roswell

Rd

Roswell Rd

Lower

d

hallowford Rd

Rd

Ebenzer

RdPiedmont

Sand

y

Bells Ferry R

d

d USHwy 41

Whitlock Ave

Plai

ns R

d

Barrett Pkwy

Ernest W.

Cobb County-McCollumField

WellStarKennestoneHospital

Six FlagsWhite WaterAtlanta

TowneCenter atCobb

TownCenterCommons

SOUTHERNCOLL. OFTECHNOLOGY

KENNESAWSTATECOLLEGE

KENNESAWMTN. NATL.BATTLEFIELDPARK

CanterburyWoodsGolf Course

MariettaGolfCourse

Marietta CityCountry Club


Location Map

N

1ST D

R

1ST D

R

2440 Sandy Plains Road22244444000 SSSaannnddyy Plaainss Rooad

Bldg 5BBllddgg 55

MOZELLE D

R

MOZELLE D

RSANDY PLAINS RD

SANDY PLAINS RD


Location Aerial

SANDY P

LAIN

S RD

SANDY P

LAIN

S RD 1ST DR

1ST DR

SPRAYBERRY

HIG

H S

CHOOL

2440 Sandy Plains Road224444400 SSaannnddyy Pllaaiins RRoad

Bldg 5Blddg 55

N

36,2

60

36,2

60


Aerial Photos


Floor Plans - First Floor


Floor Plans - Second Floor


Interior Photos

Data Source: CoStar’s 3Q17 Offi ce Market Report

OVERALL ATLANTA OFFICE STATISTICS

Year End

2014

Year End

2015

Year End

20163Q2017

Number of Buildings 2,734 2,730 2,734 2,751

Existing Square Feet 211,633,628 211,654,134 212,401,995 213,955,962

New Space (YTD) 271,298 80,800 910,387 517,172

Space Under Const. 1,214,391 2,077,241 4,894,687 4,540,376

Net Absorption (YTD) 779,302 1,105,621 195,374 160,134

Vacant Space 34,725,693 31,071,070 31,400,395 32,169,229

Vacancy Rate 16.4% 14.7% 14.8% 15.0%

NORTHWEST ATLANTA OVERALL MARKET OFFICE STATISTICS

Year End

2014

Year End

2015

Year End

20163Q2017

Number of Buildings 482 480 482 487

Existing Square Feet 32,327,471 32,286,645 32,380,963 33,000,302

New Space (YTD) 0 0 124,000 205,606

Space Under Const. 0 387,110 1,079,606 518,000

Net Absorption (YTD) (130,899) 130,007 76,926 12,138

Vacant Space 5,815,995 4,950,870 4,802,474 5,169,719

Vacancy Rate 18.0% 15.3% 14.8% 15.7%

OVERALL ATLANTA OFFICE MARKET

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Key Takeaways

> Following its highest negative absorption since the fourth quarter of 2014, Cumberland/Galleria returned to positive form in the second quarter with absorption topping 350,000 square feet and leading the Atlanta offi ce market.

> The submarket also had the second highest amount of space delivered this quarter. Riverwood 200 and Two Ballpark Center were the major offi ce buildings to come online in Q2. With the addition of the new space practically equaling absorption, Cumberland/Galleria’s overall vacancy rate remained level.

> Cumberland/Galleria’s average rental rate increased 2.3% from last quarter and is up a full $1/sf from this time last year.

> More occupancy gains are anticipated through the end of the year which should keep the submarket in positive territory for 2017; however, there are a few vacancies expected including RaceTrac at Cumberland Center IV and Weather.com at 300 Interstate North.

Absorption, Deliveries and Vacancy

12%

13%

14%

15%

16%

(400,000)(300,000)(200,000)(100,000)

0100,000200,000300,000400,000500,000

2Q16 3Q16 4Q16 1Q17 2Q17

Absorption Deliveries Vacancy

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Feet

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Northwest Atlanta Submarket - Offi ce Statistics

Promenade, Suite 800

1230 Peachtree Street, NE

Atlanta, GA 30309-3574

Phone: +1 404.888.9000

Fax: +1 404.870.2845

www.colliers.com

Available for SaleOff ering Memorandum

2440 SANDY PLAINS RD - BLDG 5MARIETTA, GEORGIA 30066

2440 sandy plains om 101017 - loopnet...marietta, ga 30066 6,000 square foot office building...

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