offering memorandum - loopnet€¦ · pnc financial services group, inc. (stylized as pnc) is an...

1064 Richard D. Sailors Parkway SW Powder Springs (Atlanta MSA), GA

OFFERING MEMORANDUM

INVESTMENT SUMMARY Investment Highlights

PROPERTY OVERVIEW Location MapProperty AerialRetail Map

AREA OVERVIEW City Overview

TENANT PROFILE Lease Abstract

FINANCIAL ANALYSIS Rent Roll

CONFIDENTIALITY AGREEMENT

Table of Contents: Exclusively Marketed By:

Sands Investment Group believes the information contained herein to bereliable. However, we make no guarantees, representations or warranties ofany kind, expressed or implied regarding this information; including, but notlimited to content, accuracy & reliability. Investors should consult a tax andlegal advisor, as well as verify ALL information prior to the investment. SANDS INVESTMENT GROUP | 844.4.SIG.NNN | [email protected]

DAN HOOGESTEGERCA # 01376759

310.774.3772 | DIRECT

[email protected]

ADAM SCHERRCA # 01925644

310.853.1266 | DIRECT

[email protected]

SIG GA LIC#: H-67374

INVESTMENT SUMMARY

PRICE $2,295,000

CAP RATE 9.21%

NOI $211,421

PRICE PER SF $550.23

TOTAL BUILDING AREA 4,171 SF

TOTAL LAND AREA 44,257SF

YEARS REMAINING 3 Years

LEASE GUARANTY PNC Bank

• Former RBC Centura Bank

• Currently Guaranteed by PNC Bank Due to Merger(Dark)

• Lease Continues Through June 2019

• Home Depot Outparcel

• High Cap Rate on Current Income

• Significant Value-Add Potential Through Releasing

• Strong Traffic Count of 29,100 VPD on Richard D.Sailors Parkway

• Strong Demographics

• Prime Retail Corridor

• Located Less than 14 Miles from SunTrust Park,New Home of the Atlanta Braves – Scheduled toOpen in 2017

INVESTMENT HIGHLIGHTS

DEMOGRAPHICS

Trade Area Profile Statistics 1 - MILE 3 - MILE 5 - MILE

POPULATION ESTIMATE 5,841 40,468 106,466

MEDIAN H.H. INCOME $60,028 $64,262 $62,951

SANDS INVESTMENT GROUP | 844.4.SIG.NNN | [email protected]

LOCATION MAP

AERIAL MAP

RETAIL MAP

New

Mac

Land

Roa

d (1

2,69

3 VP

D)

POWDER SPRINGS, GA

The City of Powder Springs is located in southwest Cobb County approximately 25 miles west ofAtlanta and approximately 12 miles southwest of Marietta, the county seat. Local organizations,great leadership, and community spirit are what make Powder Springs such a unique communityto live and do business in. Powder Springs is a great community in which to do business. We area growing city with a dedicated work force and a high level of education and affluence. PowderSprings is convenient to Interstates 20, 75 and 285. We are served by a well developed networkof multilane highways including the Richard Sailors Parkway, James Parkway, East-WestConnector, West Cobb Parkway and Powder Springs Road.

Powder Springs is approximately 15 miles west of the brand new SunTrust Park, the future homeof the Atlanta Braves. Scheduled to open in 2017, SunTrust Park is expected to bring greateconomic benefit to Cobb County. The construction process alone has supported over 5,200jobs and generated $235 millions in earnings. The new ballpark will be a dynamic economicengine for Metro Atlanta. Annual earnings for the more than 3,000 employees needed to staffthe Braves organization will total $35.8 million, and more than 1,600 of those jobs will be inCobb County. Additionally, visiting spending will result in over 870 jobs, and will provide $25million in earnings, of which $8.9 million will be earned in Cobb County.

Cobb County has a talented and skilled workforce, charming neighborhoods, high-performingschools, breathtaking recreational offerings and cultural attractions, a thriving dining scene, andthe lowest tax rates in the metro area. Factor in a low cost of living, a fiscally sound, pro-businessgovernment and some of the nation’s top K–12 and higher education institutions, and it’s easyto see why industries find Cobb so attractive. Over the past 10 years, the county grew steadily,with an overall population growth of 13.2 percent from 2000 to 2010. Based on current trends,Cobb’s population is expected to increase to nearly 764,000 by 2030. A large portion of thecounty’s population growth stems from the in-migration of highly educated workers from aroundthe state, country and world.

The Atlanta metropolitan area is easily accessible from Powder Springs via a short drive on the I-20, I-285, Hwy 139 or 78. Atlanta is the capital and most populous city in the state of Georgia,with an estimate of over 460,000 people. Atlanta is a primary transportation hub of theSoutheastern United States, with Hartsfield-Jackson Atlanta International Airport (ATL) being theworld’s busiest airport, beating out Beijing, with over 100 million passengers in 2015. Atlanta isconsidered a “world city”, exerting a significant impact upon commerce, finance, research,technology, education, media, art, and entertainment. It ranks 36th among world cities and 8thin the nation with a gross domestic product of $270 billion. Atlanta's economy is considereddiverse, with dominant sectors including logistics, professional and business services, mediaoperations, and information technology. Corporate operations comprise a large portion of theAtlanta's economy, with the city serving as the regional, national, or global headquarters formany corporations. Atlanta contains the country's third largest concentration of Fortune500 companies, and the city is the global headquarters of corporations such as The Coca-ColaCompany, The Home Depot, Delta Air Lines, AT&T Mobility, Chick-fil-A, UPS, and Newell-Rubbermaid.

TENANT PROFILE

PNC Financial Services Group, Inc. (stylized as PNC)is an American financial services corporation,with assets (as of December 31, 2015) ofapproximately $358 billion. As well as deposits ofapproximately $249 billion. PNC operations includea regional banking franchise operating primarily innineteen states and the District of Columbia withmore than 2,600 branches, online and mobileservices together with 9000 ATMs, specializedfinancial businesses serving companies and government entities, and asset managementand processing businesses.

PNC is the fifth largest bank in the United States(total branches), sixth largest bank by deposits inthe United States, ninth largest by total assets, andthe third largest bank off-premises ATMprovider. PNC is based in Pittsburgh.

COMPANY PROFILE

PUBLIC COMPANY NYSE:PNC

FOUNDED 1845

# OF LOCATIONS 2,600+

HEADQUARTERS Pittsburgh

S & P RATING A-


LEASE ABSTRACT

TENANT PNC Bank (Dark)

PREMISES A Building of 4,171 SF in Powder Springs (Atlanta MSA) , GA

LEASE COMMENCEMENT August 1, 2003

LEASE EXPIRATION June 30, 2019

LEASE TERM 3 Years

RENEWAL OPTIONS (3) x 5 Years

RENT INCREASES N/A

LEASE TYPE Triple Net (NNN)

USE Bank


PROPERTY TAXES Tenant Responsibility

INSURANCE Tenant Responsibility

COMMON AREA Tenant Responsibility

ROOF & STRUCTURE R&M Tenant Responsibility

ROOF & STRUCTURE CAP EX Landlord Responsibility

REPAIRS & MAINTENANCE Tenant Responsibility

HVAC Tenant Responsibility

UTILITIES Tenant Responsibility

RIGHT OF FIRST REFUSAL/OFFER No

TENANT NAMESQUARE

FOOTAGE% OF

PROPERTY

LEASE TERM RENTAL RATES

OPTIONSBEGIN END MONTHLY ANNUALLY INCREASES

PNC Bank 4,171 SF 100% 8/1/2003 6/30/2019 $17,618.43 $211,421.16 N/A (3) x 5 Years

SANDS INVESTMENT GROUP

RENT ROLL


CONFIDENTIALITY AGREEMENT


The information contained in the following Offering Memorandum is proprietary and strictly confidential. It is intended tobe reviewed only by the party receiving it from Sands Investment Group and should not be made available to any otherperson or entity without the written consent of Sands Investment Group.

This Offering Memorandum has been prepared to provide summary, unverified information to prospective purchasers,and to establish only a preliminary level of interest in the subject property.

The information contained herein is not a substitute for a thorough due diligence investigation, and makes no warranty orrepresentation, with respect to the income or expenses for the subject property, the future projected financialperformance of the property, the size and square footage of the property and improvements, the presence or absence ofcontaminating substances, PCB’s or asbestos, the compliance with State and Federal regulations, the physical conditionof the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans orintentions to continue its occupancy of the subject property.

The information contained in this Offering Memorandum has been obtained from sources we believe to be reliable;however, Sands Investment Group has not verified, and will not verify, any of the information contained herein, nor hasSands Investment Group conducted any investigation regarding these matters and makes no warranty or representationwhatsoever regarding the accuracy or completeness of the information provided. All potential buyers must takeappropriate measures to verify all of the information set forth herein.

By receipt of this Memorandum, you agree that this Memorandum and its contents areof confidential nature, that you will hold and treat it in the strictest confidence and thatyou will not disclose its contents in any manner detrimental to the interest of the Owner.You also agree that by accepting this Memorandum you agree to release SandsInvestment Group and hold it harmless from any kind of claim, cost, expense, or liabilityarising out of your investigation and/or purchase of this property.

offering memorandum - loopnet€¦ · pnc financial services group, inc. (stylized as pnc) is an...

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