intown net leased retail investment portfolio grant park ... · mattress factory lofts unique &...
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Information contained herein may have been provided by outside sources and while deemed to be reliable, may be estimated, projected, subject to change, and/or limited in scope,
and therefore should not be relied upon as accurate. Information should be independently confirmed within an applicable due diligence period.
Intown Net Leased Retail Investment Portfolio
Grant Park in Atlanta, Georgia Intown Net Leased Retail Investment Portfolio Popular Memorial Drive Location
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and therefore should not be relied upon as accurate. Information should be independently confirmed within an applicable due diligence period.
Intown Net Leased Retail Investment Portfolio
Grant Park in Atlanta, Georgia Table of Contents
Executive Summary
415 Memorial Drive
421 Memorial Drive
304 Oakland Avenue
Zoning– Permitted Uses
Survey
Parcel Map
Aerial View
Tenant Information
Memorial Drive Developments
Location Maps
Demographics & Traffic Count
About the Area
Broker Profile
Confidentiality Agreement
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For more information, please contact:
Andy Lundsberg
Partner
404-876-1640 x 107
Bull Realty, Inc.
50 Glenlake Parkway
Suite 600
Atlanta, GA 30328
www.BullRealty.com
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Information contained herein may have been provided by outside sources and while deemed to be reliable, may be estimated, projected, subject to change, and/or limited in scope,
and therefore should not be relied upon as accurate. Information should be independently confirmed within an applicable due diligence period.
Intown Net Leased Retail Investment Portfolio
Grant Park in Atlanta, Georgia Executive Summary
Intown Net Leased Retail Portfolio Grant Park | Atlanta, Georgia
Total of 20,950 SF of retail on over an acre of land consisting of 3 separate properties:
415 Memorial Drive: 15,700 SF with additional 400 SF of roof top patio (0.46 acre)
421 Memorial Drive: 1,900 SF (0.19 acre)
304 Oakland Avenue: 3,350 SF with additional 400 SF of outdoor patio (0.37 acre)
Excellent intown location with approximately 265 feet of frontage on Memorial Drive in popular Grant Park
Traffic counts of over 10,210 cars per day
Popular long-term restaurant tenants include: Tin Lizzy’s, Ria’s Bluebird and Mezcalito’s
Surrounded by several new mixed use residential developments, across the street from the Historic Oakland Cemetery
Minutes from downtown Atlanta and the Georgia State Capitol
2016 year end projected cap rate: 7%
Offered for SALE at $5,500,000
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Information contained herein may have been provided by outside sources and while deemed to be reliable, may be estimated, projected, subject to change, and/or limited in scope,
and therefore should not be relied upon as accurate. Information should be independently confirmed within an applicable due diligence period.
Intown Net Leased Retail Investment Portfolio
Grant Park in Atlanta, Georgia 415 Memorial Drive
Address 415 Memorial Drive Atlanta, GA 30312
County Fulton
Building Size 15,700 SF
plus 400 SF roof-top patio space
Lot Size 0.46 acre
Tenants Tin Lizzy’s Cantina, My Friend’s Beer Growler,
Express Cleaners, HOBI Studio
Parking Upfront surface and rear spaces are available
Year Built 1959
Zoning SPI 22, Sub Area 4
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Information contained herein may have been provided by outside sources and while deemed to be reliable, may be estimated, projected, subject to change, and/or limited in scope,
and therefore should not be relied upon as accurate. Information should be independently confirmed within an applicable due diligence period.
Intown Net Leased Retail Investment Portfolio
Grant Park in Atlanta, Georgia 421 Memorial Drive
Address 421 Memorial Drive Atlanta, GA 30312
County Fulton
Building Size 1,900 SF
Lot Size 0.19 acre
Tenants Ria’s Bluebird Cafe
Parking Upfront surface spaces are available
Year Built 1959
Zoning SPI 22, Sub Area 4
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Information contained herein may have been provided by outside sources and while deemed to be reliable, may be estimated, projected, subject to change, and/or limited in scope,
and therefore should not be relied upon as accurate. Information should be independently confirmed within an applicable due diligence period.
Intown Net Leased Retail Investment Portfolio
Grant Park in Atlanta, Georgia 304 Oakland Avenue
Address 304 Oakland Avenue
Atlanta, GA 30312
County Fulton
Building Size 3,350 SF plus 400 SF patio space
Lot Size 0.37 acre
Tenants Mezcalito’s Restaurant
Parking Ample spaces are available
Year Built 1959: Renovated in 2012
Zoning SPI 22, Sub Area 4
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Information contained herein may have been provided by outside sources and while deemed to be reliable, may be estimated, projected, subject to change, and/or limited in scope,
and therefore should not be relied upon as accurate. Information should be independently confirmed within an applicable due diligence period.
Intown Net Leased Retail Investment Portfolio
Grant Park in Atlanta, Georgia Zoning—Permitted Uses (1 of 3)
For more information, visit: City Of Atlanta—SPI 22, Sub Area 4
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Information contained herein may have been provided by outside sources and while deemed to be reliable, may be estimated, projected, subject to change, and/or limited in scope,
and therefore should not be relied upon as accurate. Information should be independently confirmed within an applicable due diligence period.
Intown Net Leased Retail Investment Portfolio
Grant Park in Atlanta, Georgia Zoning—Permitted Uses (2 of 3)
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Information contained herein may have been provided by outside sources and while deemed to be reliable, may be estimated, projected, subject to change, and/or limited in scope,
and therefore should not be relied upon as accurate. Information should be independently confirmed within an applicable due diligence period.
Intown Net Leased Retail Investment Portfolio
Grant Park in Atlanta, Georgia Zoning—Permitted Uses (3 of 3)
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Information contained herein may have been provided by outside sources and while deemed to be reliable, may be estimated, projected, subject to change, and/or limited in scope,
and therefore should not be relied upon as accurate. Information should be independently confirmed within an applicable due diligence period.
Intown Net Leased Retail Investment Portfolio
Grant Park in Atlanta, Georgia Survey
304 Oakland Avenue
415 Memorial Drive
421 Memorial Drive
Not Included
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Information contained herein may have been provided by outside sources and while deemed to be reliable, may be estimated, projected, subject to change, and/or limited in scope,
and therefore should not be relied upon as accurate. Information should be independently confirmed within an applicable due diligence period.
Intown Net Leased Retail Investment Portfolio
Grant Park in Atlanta, Georgia Parcel Map
Subject Property
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and therefore should not be relied upon as accurate. Information should be independently confirmed within an applicable due diligence period.
Intown Net Leased Retail Investment Portfolio
Grant Park in Atlanta, Georgia Aerial View
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Information contained herein may have been provided by outside sources and while deemed to be reliable, may be estimated, projected, subject to change, and/or limited in scope,
and therefore should not be relied upon as accurate. Information should be independently confirmed within an applicable due diligence period.
Intown Net Leased Retail Investment Portfolio
Grant Park in Atlanta, Georgia Tenant Information
Tin Lizzy’s Cantina is known for their re-freshing margaritas, friendly service, lively music and of course, their FlexMex cuisine. It’s similar to what people call Tex-Mex, but with a little more flair. Not only does it per-fectly describe their menu, which is com-prised of and influenced by many cultures, FlexMex is also an attitude or experience that evokes a feeling of belonging and pure awesomeness. They are also proud of their Atlanta-based roots and have locations all over the city to serve over 25 gourmet soft tacos, shareable dips, crisp salads, hot skillets, specialty mar-garitas and more. Open for lunch, dinner or late-night drinks. Also, watch the latest sports action on their HDTVs and enjoy live music five nights a week. www.tinlizzyscantina.com
From Berlin to San Francisco, Ria’s cooking has gained a cult following for her gourmet Southern classics in the heart of Atlanta: light & fluffy biscuits, topped by a generous portion of thick, spicy milk gravy, just like grandma used to make. Buttermilk pancakes moist and delicate enough to prompt lo-cals, and Jane Fonda, to tout them as the ‘best in the City’. And innovative sandwiches like the popu-lar prosciutto, brie, dates & basil on toasted ba-guette. Locally roasted coffee from Batdorf & Bron-son acts as the bass note to Ria’s creations. Chef Ria Pell earned her stripes in some of the toni-est kitchens of the City, like Dish, Mondo and Chef Annie Quatrano’s Float Away Café. Under Quatrano, Pell developed her natural instinct for surprising, yet grounded, experiments in the art of gourmet cuisine. But it was Pell’s Danish grand-mother, and New Jersey mother, who inspired her to cook delicious food like the hand-sifted pancakes topped with carmelized bananas that has become a signature classic. www.riasbluebird.com
Mezcalito's Cocina & Tequila Bar brings an origional twist of Mexican dishes to Grant Park. Originally based recipes from Acapul-co are nothing but of the ordinary. All of their food and drinks are carefully prepared daily, bringing only the freshest dishes in town. Their menu features appetizers, salads, soups, different moles, tacos, enchiladas, chile rellenos, and a variety of specialities. Beer selections from Pacifico to Palma Louca, Xingu, and Victoria are just a few among many that will make your experi-ence unforgettable. They are also known for their margaritas, they hand squeeze the limes and lemons to create the freshest margaritas in town. Their friendly & romantic atmopshere wel-comes families, dates, and big parties. One can also enjoy their pet friendly patio’s dur-ing the warmer months. www.mezcalitoscantina.com
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Information contained herein may have been provided by outside sources and while deemed to be reliable, may be estimated, projected, subject to change, and/or limited in scope,
and therefore should not be relied upon as accurate. Information should be independently confirmed within an applicable due diligence period.
Intown Net Leased Retail Investment Portfolio
Grant Park in Atlanta, Georgia Memorial Drive Developments (1 of 2)
The Parker Size 2.35 acres The plan Atlantic Realty will build a 238-unit luxury apartment building on this valuable site.
The Leonard Size 1.1 acre The plan The site of an 85-unit apartment building coming soon.
Subject Property Tin Lizzy’s My Friend’s Beer Growler Express Cleaners HOBI Studios Ria’s Bluebird Mezcalito’s
The George 130-unit apartment building The Plan calls for 12,000 SF of retail and include one to two restaurants
Crown Candy Lofts Home to 21 authentic loft living spaces Mattress Factory Lofts Unique & Fascinating mixed-use complex, with approximately 125,000 SF of creative commercial space and 218 loft residences.
The Jane Octane The Little Tart Bakeshop Six Feet Under Elevator Factory Republic Social House Hawkins & Clover Salon Styles Matchstic Experience Rethink NEX Atlanta Sixthman JSI UrbanTrans Sol Design Surterra Therapeutics
Agave Restaurant Eclectic southwestern eatery that appeals to a wide cross section of taste & style while focusing on guest satisfac-tion in the high energy din-ing room & bar.
Larkin on Memorial Size: A 63,000 SF mixed-use re-development The Plan The goal of the center to serve the Grant Park, Ormwood Park, Cabbagetown, Reynoldstown, & East Atlanta Neighborhoods that will offer a range of essential, everyday ser-vices & provisions for households in these flourishing Eastside neighbor-hoods from dry-cleaning to daycare to quality groceries & dry goods.
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Information contained herein may have been provided by outside sources and while deemed to be reliable, may be estimated, projected, subject to change, and/or limited in scope,
and therefore should not be relied upon as accurate. Information should be independently confirmed within an applicable due diligence period.
Intown Net Leased Retail Investment Portfolio
Grant Park in Atlanta, Georgia Memorial Drive Developments (2 of 2)
These 26 Projects Will Radically Transform Memorial Drive
“Since early 2014, the two-mile stretch of Memorial Drive east of the Downtown Connector has become the site of one of Atlanta’s biggest development booms. Given its proximity to both downtown and the Atlanta BeltLine’s Eastside Trail, an assortment of builders plans to spend north of $600 million—more than double the expected redevelopment costs for Turner Field—on more than two dozen projects along the former industrial corridor.
“We’re going to see investment in this area for the foreseeable future,” says Greg Giuffrida, Central Atlanta Progress’s point person for Memorial Drive planning and outreach.
With more than 1,300 apartments and condos under development, Paces Properties CEO David Cochran envisions the strip becoming “the next Inman Park.” But it’s more than housing: Proposals include everything from freestanding restaurants (Grindhouse Killer Burgers) to basic services like dry cleaning and day-care (Larkin on Memorial) to the state’s mammoth new judicial complex. And, who knows, maybe that momentum will help push pie-in-the-sky projects into motion, such as a proposal to “cap” the Connector with a grassy park.”
Source: Max Blau | Atlanta Magazine
Subject Property
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Information contained herein may have been provided by outside sources and while deemed to be reliable, may be estimated, projected, subject to change, and/or limited in scope,
and therefore should not be relied upon as accurate. Information should be independently confirmed within an applicable due diligence period.
Intown Net Leased Retail Investment Portfolio
Grant Park in Atlanta, Georgia Location Maps
Midtown Virginia
Highlands
Old Fourth Ward
Inman Park
Downtown
Grant Park
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Information contained herein may have been provided by outside sources and while deemed to be reliable, may be estimated, projected, subject to change, and/or limited in scope,
and therefore should not be relied upon as accurate. Information should be independently confirmed within an applicable due diligence period.
Intown Net Leased Retail Investment Portfolio
Grant Park in Atlanta, Georgia
2015 Demographics (Esri)
1 mile
Population 19,034
Households 8,398
Average Household Income $57,470
3 mile
Population 158,675
Households 69,525
Average Household Income $64,327
5 mile
Population 319,223
Households 138,470
Average Household Income $67,808
Demographics & Traffic Count
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Information contained herein may have been provided by outside sources and while deemed to be reliable, may be estimated, projected, subject to change, and/or limited in scope,
and therefore should not be relied upon as accurate. Information should be independently confirmed within an applicable due diligence period.
Intown Net Leased Retail Investment Portfolio
Grant Park in Atlanta, Georgia About the Area
Grant Park in Atlanta, Georgia Grant Park is the fourth-largest in the city, behind Chastain Park, Freedom Park and Piedmont Park. Grant Park has two major attractions besides the park itself: Zoo Atlanta, established in 1889 and orig-inally known as the Grant Park Zoo; and the Atlanta Cyclorama, a cyclorama featuring the 1864 Battle of Atlanta from the American Civil War. The park serves over two million visitors per year.
New Developments in the Area Include...
Paces Properties' plans to resurrect the decrepit Atlanta Dairies complex on Memorial Drive are real, and they have the potential to be spectacular. The 11-acre site at 777 Me-morial Drive, technically in Reynoldstown but a proverbial stone's throw from Grant Park and Cabbagetown, has been a moldering eyesore since Parmalat abandoned it in 2004. Paces, the developers behind Krog Street Market, filed plans to rezone the property last fall and closed on it in December. In an exclusive conference call with Curbed Atlanta, execs David Cochran, George Banks and Merritt Lancaster provided all sorts of details about their plans for the $125-million project dubbed simply "Atlanta Dairies", an un-dertaking that will include retail, commercial, office and residential pieces with an "Americana and entertainment focus."
The Leonard is a mixed-use, boutique multifamily development featuring 85 apartment units in north Grant Park. It’s located across Memorial Drive from the new linear City park connecting the State Capitol with the Historic Oakland Cemetery. Just 3 blocks from the MLK MARTA station, it is located immediately adjacent to the successful restaurant and bar, Augustine’s, and a short walk to many other neighborhood restaurants such as Six Feet Under, Ria’s Blue Bird Café, Tin Lizzies, Octane, Daddy D’z, and Doc Chey’s. The Leonard also includes 3,100 square feet of retail/commercial space. Amenities include a club room, fitness center, dog washing facility, secured parking, and ZipCar deposit/pickup.
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Information contained herein may have been provided by outside sources and while deemed to be reliable, may be estimated, projected, subject to change, and/or limited in scope,
and therefore should not be relied upon as accurate. Information should be independently confirmed within an applicable due diligence period.
Intown Net Leased Retail Investment Portfolio
Grant Park in Atlanta, Georgia Broker Profile
ANDY LUNDSBERG
Andy Lundsberg joined Bull Realty with over 10 years of sales, marketing and real estate experience. Within Bull Realty, he specializes in the acquisition and disposition of multifamily and boutique retail/office type properties in-town Atlanta. Andy was the top producer at Bull Realty in 2014 & 2015, and has consistently placed in the top percentile of sales volume within the Atlanta Commercial Board of Realtors Million Dollar Club year after year. Prior to his career in commercial real estate, Andy worked for a national diagnostic imaging company as director of sales and marketing, Coca-Cola as a business development manager and was head of on-site sales and marketing for a condominium project with a large residential real estate firm in Atlanta. With his expertise in the real estate industry and successful sales record, he can help you determine the right investment for you; whether you are looking to buy, lease or sell commercial real estate. Andy graduated with honors from The Kelley School of Business at Indiana University where he received degrees in Marketing, Management and International Studies. He also studied and lived in Seville, Spain and is conversational in Spanish. Organizations:
National Association of Realtors-Georgia
Atlanta Commercial Board of Realtors
Young Council of Realtors (YCR)
Million Dollar Club-Life Member Bull Realty is a U.S. commercial real estate sales, leasing and advisory firm headquartered in Atlanta. The firm was founded in 1998 with two
primary missions: grow a company of brokers known for integrity and provide the best disposition marketing in the nation.
Commercial real estate services include acquisition, disposition, project leasing, tenant representation and advisory services.
Areas of expertise include office, retail, industrial, multifamily, land, healthcare, single tenant net lease, special asset, self-storage,
automotive and daycare properties.
Disposition services for appropriate properties can include exposure on up to 415 websites, 17 marketing systems and 3 to 6 e-
marketing systems.
Additional disposition and lease marketing services may include video, social media, auctions and national radio exposure.
The firm hosts the Commercial Real Estate Show which is a nationally syndicated talk radio show heard by millions of people. Respected
industry analysts, leading market participants and host Michael Bull share market intelligence, forecasts and strategies. The show is
available on any device, anytime on iTunes, YouTube and the show website, www.CREshow.com.
Bull Realty is licensed in ten southeast states and works with affiliates from all over the country.
Andy Lundsberg Partner 404-876-1640 x 107 [email protected]
Bull Realty, Inc. 50 Glenlake Parkway Suite 600 Atlanta, GA 30328
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Information contained herein may have been provided by outside sources and while deemed to be reliable, may be estimated, projected, subject to change, and/or limited in scope,
and therefore should not be relied upon as accurate. Information should be independently confirmed within an applicable due diligence period.
Intown Net Leased Retail Investment Portfolio
Grant Park in Atlanta, Georgia Confidentiality Agreement
This Confidentiality Agreement (“Agreement”) is made and agreed to for the benefit of the undersigned party (“Receiving Party”), the owner of the subject property (the “Seller”) and undersigned broker Bull Realty Incorporated (“Broker”). Now therefore in consideration of the privileges granted to Receiving Party with respect to receiving certain confidential information, and other good and valuable consideration, the Receiving Party hereby agrees to the following: I. Confidential Information: Receiving Party will receive confidential information regarding property referred to as 415 & 421 Memorial Drive & 304 Oakland Avenue. Prospect agrees to not disclose to any person that the property may be available for sale or lease, or that discussions or negotiations are taking place concerning the property, n or any terms, conditions, or other facts with respect to the property, including but not limited to tenant information, lease rates, lease expirations, income and expenses, and any such possible purchase, including the status thereof. The term “person” used in this agreement shall be interpreted broadly and shall include, without limitation, any corporation, company, partnership or individual other than parties to which Broker approves in writing. Receiving Party may share information with directors, officers, employees, agents, affiliates, counsel, lending sources, accountants or representatives of Receiving Party that Receiving Party notifies of the requirements of this Agreement. Receiving Party agrees to not contact the property owner, the management, the tenants, the lender, the vendors, the insurers, the employees or the customers of any business at the site. II. Acting as a Principal: Receiving Party hereby warrants that it is acting as a principal only, and not as a broker, regarding this contemplated transaction. Receiving Party acknowledges that Broker is working an agency capacity as representing the Seller only in this transaction and is the only Broker involved in this potential transaction. Receiving Party agrees to not be involved in any arrangement to lease or purchase the property, in whole or in part, as a lender, partner, buyer of the note, buy in foreclosure, buy from bankruptcy court, or in any other manner acquire an investment in, joint venture or control of the property, unless Bull Realty, Incorporated is paid a commission at closing as per separate agreement with Seller. This agreement will expire two years from the date hereof. III. Governing Law This Agreement shall be governed and construed in accordance with the laws of the State of Georgia.
Accepted and agreed to this _______ day of ___________________, 2016.
Receiving Party
Signature ___________________________________________________________________
Printed Name _______________________________________________________________
Title _______________________________________________________________________
Company Name _____________________________________________________________
Address ____________________________________________________________________
____________________________________________________________________
You may return the executed agreement by fax (404) 876-7073 or email [email protected] Bull Realty, Inc. | 50 Glenlake Parkway, Suite 600 | Atlanta, GA 30328
Bull Realty GA license #20209
Email ______________________________________________________________________
Phone _____________________________________________________________________
Fax ________________________________________________________________________
Broker
Signature ___________________________________________________________________
Printed Name ________________________________________________________________