offering memorandum - cimls · bellum glover park and fun-filled marietta square. over the past...

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HISTORIC MARIETTA COLE MANOR OFFICE OPPORTUNITY OFFERING MEMORANDUM

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Page 1: OFFERING MEMORANDUM - CIMLS · bellum Glover Park and fun-filled Marietta Square. Over the past twenty years, this ... Sean utilizes the latest technology and digital resources, coupled

H I S T O R I C M A R I E T T A C O L E M A N O R O F F I C E O P P O R T U N I T Y

O F F E R I N G M E M O R A N D U M

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

THE OFFERINGDisclaimer & Limiting Conditions 3 Executive Summary 4 Property Overview 5

THE PROPERTYProperty Photos 6Area Location Map & Highlights 10 Demographics & Traffic Count 11Floor Plan 12

THE MARKET Sold Comparables 13About The Area 15 Broker Profile 16Team Profile 17

N A T I O N A L O F F I C E G R O U P | B U L L R E A L T Y . C O M

JOHN HARRISON | 404-876-1640 x 106 | [email protected]

SEAN WILLIAMS | 404-876-1640 x 126 | [email protected]

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

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

This Confidential Memorandum is subject to prior placement, errors, omissions, changes or withdrawal without notice and does not constitute a recommendation, endorsement or advice as to the value of the Property by Bull Realty Inc. or the current Owner/Seller. Each prospective purchaser 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 to purchase the Property and/or to terminate discussions with any party at any time with or without notice. Owner/Seller shall have no legal commitment or obligation to any purchaser reviewing this Confidential Memorandum or making an offer to purchase the Property unless a written agreement for the purchase of the Property has been fully executed, delivered and approved by the Owner/Seller and any conditions to the purchaser’s obligations therein have been satisfied or waived. The Seller reserves the right to move forward with an acceptable offer prior to the call for offers deadline.

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

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

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Unhindered by historic preservation regulations, Cole Manor is one of a few pre-civil war structures located in The Washington Avenue Historic District in Marietta, GA. Originally built circa 1862, and previously remodeled in both the late 19th and early 20th centuries, the building was originally home to Henry Greene Cole and his family and later became the residence of Fitzhugh Lee. Historical accounts indicate that the property was used as a military headquarters building during the Civil War. In 1974 it was converted into the law offices of Robert Autrey and has been used as a law office property since that time.

Today, Cole Manor features 15 spacious offices, a library, a conference room, updated bathrooms, refinished hardwood floors, a completely renovated kitchen and a newly paved and striped parking lot with approximately 6/1,000 SF parking ratio. Located just three blocks from the Marietta Municipal Courthouse and Marietta Square, the approximately 6,480 SF building is situated on 0.84 acres. The property is very well-suited for any legal or professional services firm who can benefit from the close proximity to the heart of Marietta/Cobb County businesses, courts and restaurants while capturing the advantages of owning their own real estate.

H I S T O R I C M A R I E T T A C O L E M A N O R O F F I C E O P P O R T U N I T Y

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Address 331 Washington Avenue NE Marietta, GA 30060County CobbParcel ID 16121600610Building Square Footage 6,480 SFLot Size 0.84 AcresNumber of Buildings 1Number of Stories 3 Zoning O/IYear Built 1862Parking Ratio 6/1,000 SF Current Occupancy VacantPrice/SF $146.45Price $949,000

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P H O T O S

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P H O T O S

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P H O T O S

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P H O T O S

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A R E A L O C A T I O N M A P & H I G H L I G H T S

Subject Property

75

• MARIETTA MUNICIPAL COURTHOUSE

• MARIETTA PIZZA CO.• COOL BEANS COFFEE• WR SOCIAL HOUSE• TAQUERIA TSUNAMI• EARL SMITH STRAND

THEATER

KENNESAW MOUNTAIN

BATTLEFIELD

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12,920

D E M O G R A P H I C S & T R A F F I C C O U N T

12,320

10,570

# = Vehicles Per Day

2016 DEMOGRAPHICS (Esri)

1 mile 3 miles 5 miles

Population 7,858 64,548 192,250

Households 3,383 25,482 74,284

Average Household Income $58,744 $62,542 $69,979

14,470

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SUBJECTPROPERTY

MAP # STREET ADDRESS CITY SIZE SOLD DATE SALE PRICE PRICE/SF DETAIL PAGE

Subject Property 331 Washington Ave. Marietta 6,480 SF TBD $949,000 $146.45 14

1 61 Atlanta St. Marietta 6,000 SF 06/24/2016 $874,500 $145.75 14

2 805 Campbell Hill St. Marietta 5,678 SF 06/30/2015 $1,166,158 $205.38 14

3 1801 Roswell Rd. Marietta 4,000 08/7/2015 $650,000 $162.50 14

4 1225 Powder Springs St. Marietta 5,694 SF 10/28/2015 $650,000 $114.16 14

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S O L D C O M P A R A B L E S

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SOLD COMP - 61 Atlanta St. SOLD COMP - 805 Campbell Hill St.

SUBJECT PROP - 331 Washington Ave.

Property Size 6,000 SFClosing Date: 06/24/2016Sold Price $874,500Price/SF $145.74

Property Size 4,000 SFClosing Date 08/7/2015Sold Price $650,000Price/SF $162.50

Property Size 5,678 SFClosing Date 06/30/2015Sold Price $1,166,158Price/SF $205.38

Property Size 6,480 SFSale Price $949,000Price/SF $146.45Sale Date TBD

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SOLD COMP - 1225 Powder Springs St.

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SOLD COMP - 1801 Roswell Rd.Property Size 5,694 SFClosing Date 10/28/2015Sold Price $650,000Price/SF $114.16

COMMENTS: This historic turned commercial property hosts 15 professional offices, a renovated kitchen, updated bathrooms and resurfaced hardwood floors. With a large conference room and an impressive library, the owner benefits from all the amenities of a large office building but in a rare and unique location.

S O L D C O M P A R A B L E S

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M A R I E T T A , G E O R G I A Established in 1834, Marietta, Georgia is located along the dramatic backdrops of the Chattahoochee River and historic foothills of Kennesaw Mountain, 18 miles north-west of Downtown Atlanta. Characterized by numerous natural resources, affordable real estate, and historic and cultural assets, Marietta is home to more than 300,000 residents and is the county seat of Cobb County, Georgia’s third largest county with over 700,000 citizens.The City of Marietta is home to a thriving community of more than 67,000 residents, and the population of Metro Marietta includes over 300,000 residents. Marietta is the county seat of Cobb County, Georgia’s third largest county of 698,158 citizens (2008 Census estimate).

Marietta provides visitors and residents an exciting selection of attractions, festivals & annual events, outdoor concerts, recreational activities, sport venues, shopping, and a growing business environment of industry and commerce. Visitors and residents are sure to enjoy the traditional Southern charm, hospitality, and history of this quaint, modern city.

Though heavily damaged during Sherman’s March through Georgia in 1864, Marietta remains the proud home to numerous historic properties, five historic districts, and two Nationally Registered Historic Landmarks - a tribute to a tight-knit community’s devotion to honoring its past and embracing its future as a vibrant and charming Southern city with modern, world-class amenities.

Cobb County was named after Thomas Willis Cobb, a United States Representative, United States Senator, and Georgia Supreme Court Judge. The city of Marietta was named for Cobb’s Wife -Mary Cobb. Other cities in Cobb County include Acworth, Austell, Kennesaw, Powder Springs, Smyrna and Vinings.

Characterized by numerous natural resources, as well as historic and cultural assets, Marietta provides visitors and residents an exciting selection of local attractions, annual events, festivals, outdoor concerts, recreational activities, sport venues, and a growing environment of industry and commerce. At the center of it all is the ante-bellum Glover Park and fun-filled Marietta Square. Over the past twenty years, this charming “old town” center has evolved into the picturesque heart of Marietta’s historic redevelopment, and “It’s Hip to be Square” marketing campaign. Visitors to the “Square” will discover an eclectic mix of busy restaurants - with both familiar and foreign fare - lively nightspots, an intimate Broadway-style theater, several museums, and a treasure-trove of specialty shops, trendy boutiques and unique galleries, offering antiques, fine china, jewelry, clothing, novelty items and more.

L O C A T I O N

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SEAN WILLIAMSV.P. National Office Group Sean Williams’ specialty is providing value and expert brokerage selling office office properties for institutional investors and private equity clients.

Sean utilizes the latest technology and digital resources, coupled with an attention to detail and unmatched work ethic to maximize value for clients. As a native and life-time resident of Atlanta, Sean has nearly half a century of history and first-hand knowledge of real estate in Atlanta and the southeastern region.

Some of Sean’s recent projects and clients include:

JOHN HARRISON V.P. National Retail Group Mr. Harrison serves as the Vice President of the Bull Realty National Retail Group boasting 30 years of retail experience with advisory, consulting and transactional services. Additional client services include, but are not limited to asset recapitalization and value added services based on the best marketing systems and real time market trends and information.

John entered undergraduate studies at Davidson College and completed his degree at Emory University. He began his career with Ackerman & Co. during the early 80’s and specialized in the marketing of office and mixed use properties. He has closed leases and investment sales in excess of $200 million. He has been a member of the Million Dollar Club for 15 years and is a recipient of the Phoenix Award. As a partner with CBH Properties, he has been involved in all phases of the development, management and ownership.

John was Vice President of Commercial Sales at both McWhirter Realty Corp. and Roberts Commercial and was a top producer with each company. Property sales on his resume include the sale of over 80 retail centers and office properties. John has sold in excess $40 million in medical properties during the past decade.

John joined Bull Realty in 2011 and is excited about providing the excellent marketing platform offered by Bull Realty to the benefit of his client base.

John has been married to his wife Stephanie for 24 years and they have two sons. John enjoys coaching kids in soccer, family tennis and hanging out at Starbucks with his wife. He has a passion for politics and history and is an accomplished pianist.

• 1-800-FLOWERS• Cobb Pediatric

Therapy Services• Byram Healthcare• EZ Pawn• Allergy & Asthma of

GA• DSI Kennesaw• Barrett Couart• IP Communications• Precision Fabrics

• Weber Law• Massé Grill & Bar• 2 Men & a Truck• QuikTrip Corporation• Areté • Woodpark Medical

Office• Northwinds Summit• Milan Eye Center• DynamiX Web Design

• Alpharetta Medical Group

• Davis & Church Engineering

• Peachtree Dunwoody Park

• Oakdale Business Park• PT Solutions• jobTopia

T E A M P R O F I L E

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B R O K E R P R O F I L E S

Sean Williams404-876-1640 x [email protected]

SEAN WILLIAMS V.P. National Office Group JOHN HARRISONV.P. National Retail Group

MICHELLE MEHRJERDIANMarketing

RICK LEWISMarketing

SCOTT JACKSONAnalyst

John Harrison404-876-1640 x [email protected]