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2730 WEAVER ROADEXCLUSIVE INDUSTRIAL INVESTMENT OPPORTUNITY
Offering Memorandum
NON-ENDORSEMENT & DISCLAIMER NOTICE
CONFIDENTIALITY & DISCLAIMERThe information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by
the party receiving it from Marcus & Millichap and should not be made available to any other person or entity without the written consent of
Marcus & Millichap. This Marketing Brochure 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. Marcus & Millichap has not made any investigation, and makes no warranty or representation, with respect to the income
or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and
improvements, the presence or absence of contaminating substances, PCB’s or asbestos, the compliance with State and Federal regulations, the
physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions
to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we
believe to be reliable; however, Marcus & Millichap has not verified, and will not verify, any of the information contained herein, nor has Marcus
& Millichap conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy
or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein.
Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc.
© 2017 Marcus & Millichap. All rights reserved.
NON-ENDORSEMENT NOTICEMarcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The
presence of any corporation’s logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation
of Marcus & Millichap, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of Marcus & Millichap, and is solely
included for the purpose of providing tenant lessee information about this listing to prospective customers.
ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY.
PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS.
2730 WEAVER ROADE X C L U S I V E I N D U S T R I A L I N V E S T M E N T O P P O R T U N I T Y
EXCLUSIVELY LISTED
O F F I C E S N A T I O N W I D E A N D T H R O U G H O U T C A N A D A
WWW.MARCUSMILLICHAP.COM
ADAM BAKERInvestment Specialist
National Office and Industrial Properties GroupCharleston, SC
Cell 253.905.3933Office 843.952.2272
[email protected] SC 110290
PAUL PASCHALInvestment Specialist
National Office and Industrial Properties GroupCharleston, SC
Cell 704.778.2235Office 843.952.2270
[email protected] SC 90574
MIKE FASANO, GA BORMarcus & Millichap Real Estate Investment Services of Atlanta, Inc.
GA License #352663
01 20
06 34
16
EXECUTIVE SUMMARYSECTION 1 Investment Overview • Investment Highlights
COMPETITIVE COMPARABLESSECTION 4 Sales Comparables • Rent Comparables
PROPERTY DESCRIPTIONSECTION 2 Property Details • Floor Plans • Site Plan• Maps
MARKET OVERVIEWSECTION 5 Location Overview • Location Highlights • Demographics
FINANCIAL ANALYSISSECTION 3 Pricing Details • Operating Data • Tenant Profile
TABLE OF CONTENTS
EXCLUSIVELY LISTED BY:
2730 WEAVER ROADE X C L U S I V E I N D U S T R I A L I N V E S T M E N T O P P O R T U N I T Y
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EXECUTIVESUMMARY
2730 WEAVER ROAD
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate
Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2017 Marcus & Millichap ACT ID ZAA0450125
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OFFERING HIGHLIGHTS
2730 Weaver Road, Macon, Georgia 31217
OFFERING PRICE
$12,200,000 CURRENT CAP RATE
6.29%
VITAL DATA
Price $12,200,000
Current CAP Rate 6.29%
Price/SF $45.19
Rentable Square Feet 270,000
Occupancy 100%
2730 WEAVER ROAD
► Entire Property Received Extensive Renovations throughout
2019
► Current Rent is Nearly 25 Percent Below Average Market Rent
for the Area
► 3.4 Percent Vacancy for Warehouse/Logistics Buildings in the
Market
► Local, Publicly-Traded Tenant with Extensive Operations in the
Area
► Short-Term Lease, However Tenant is Investing in the Property
for the Long-Term
PROPERTY RECEIVED EXTENSIVE RENOVATIONS
IN 2019
CURRENT RENT IS BELOW MARKET
TENANT INVESTING FOR THE LONG-TERM
INVESTMENT HIGHLIGHTS
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INVESTMENT OVERVIEWMarcus & Millichap is pleased to present 2730 Weaver Road, a Class B industrial building located just off Interstate-16 in Macon, Georgia. The property, built-in 1975, has undergone extensive renovations in 2019 which include a new roof (20-year warranty), new electrical and lighting systems throughout the facility, office renovations, sprinkler system upgrades, newly coated and striped asphalt parking lot, the addition of eight new dock doors and more. The building now boasts 17 dock high doors with levelers, eight drive-in doors, ceiling heights between 25 feet and 27 feet, with clear heights between 23 feet and 25 feet. Column spacing is 40 feet by 60 feet. With the substantial property improvements recently completed an investor can benefit from a turn-key asset with little to no deferred maintenance.
The building is leased to Blue Bird Bus Corporation (NASDAQ: BLBD), one of the premier school bus manufacturing companies in the United States. Blue Bird is consistently profitable and recently achieved its fourth consecutive quarter of profit growth. Headquartered in Macon, Blue Bird has extensive operations and facilities throughout the area and employs roughly 2,100 people locally. Blue Bird’s main campus in Fort Valley, Georgia is currently undergoing a significant investment for renovations and upgrades to improve efficiency. This is a multi-year, multi-million dollar project for the main manufacturing plant that is 30 miles away. Due to these projects, they have moved their receiving and kitting to this location as their previous location will become consumed with improved manufacturing space.
Blue Bird recently executed a new three-year, double net (NN) lease, with three three-year options at $3.00 per square foot. Despite the short-term lease Blue Bird has expressed a long-term interest in the building both verbally and by investing significantly in the installation of new racking throughout 60 to 70 percent of the building, propane refueling tanks, as well as paying to get fiber to the building, having wiring installed throughout and more. Landlord responsibilities include insurance, roof, floor, foundations, exterior walls, sprinkler system, electrical and lighting systems, labor for replacing HVAC filters and high bay lights. The tenant will reimburse the landlord for property taxes, landscaping ($0.088 included in monthly rent amount), dock door and dock plate maintenance, fire extinguisher inspection and replacements (at a 7 percent markup). Everything else is the responsibility of the tenant. Macon-Bibb County is the geographic center of the state of Georgia, just two hours from the Port of
Savannah (fourth busiest container port in the country) via Interstate-16, and 80 minutes from Atlanta via Interstate-75. Due to its location and lower lease rates it has recently become a very attractive market in the Southeast with a lower cost of doing business than more high profile areas. Despite this interest there has been little speculative building which has led to a logistics/warehouse vacancy rate of just 3.4 percent throughout the Macon-Bibb County Market.
270,000-SQUARE-FOOT
INDUSTRIAL FACILITY
SUMMARY OF TERMS
INTEREST OFFEREDMarcus & Millichap has been selected to exclusively market for sale 2730 Weaver Road located in Macon, Georgia.
TERMS OF SALE2730 Weaver Road is offered at $12,200,000 based on a capitalization rate of 6.29%. The net operating income figures for the
Property assume a fiscal year starting Year 1. Historical operating documentation, third party reports and financial model can be
found in the online document data portal.
PROPERTY TOURSProspective purchasers are encouraged to visit the subject property prior to submitting offers. However, all property tours must
be arranged with the Marcus & Millichap listing agents. Please do not contact the tenants, on-site management or staff without
prior approval. Property tours must be arranged with the Marcus & Millichap listing agents. At no time shall the tenants, on-site
management or staff be contacted without prior approval.
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PROPERTYDESCRIPTION
2730 WEAVER ROAD
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate
Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2017 Marcus & Millichap ACT ID ZAA0450125
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PROPERTY DETAILS
THE OFFERING
Property Address 2730 Weaver Road, Macon, GA
Price $12,200,000
Assessors Parcel Number V090-0004
Zoning M2 - Heavy Industrial
SITE DESCRIPTION
Number of Floors 1
Year Built/Renovated 1975/2019
Rentable Square Feet 270,000
Ownership Fee Simple
Parcel Size 30.835 Acres
Parking160 Car Spaces
57 Semi Truck with Trailor Spaces
UTILITIES
Gas Atlanta Gas Light
Electric Georgia Power
Water City of Macon
Sewer City of Macon
CONSTRUCTION
Foundation Concrete (Minimum of 6”)
Exterior Reinforced Concrete
RoofThermoplastic Polyolefin (TPO)
Installed July 2019, 20-Year Warranty
Celing Height 25’ to 27’
Roll-Up Doors17 Dock High Doors with Levelers
8 Drive-In Doors
Column Spacing 40’ x 60’
Sprinkler System Wet System
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FLOOR PLAN
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SITE PLAN
*Square footage numbers are rounded and not necessarily accurate.
*The trailor drop yard and parking estimates may not accurately reflect the final results of the proeprty’s renovations.
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Local Map
2730 WEAVER ROAD
Source: Map Data © 2019 Google
RegionalMap
2730 WEAVER ROAD
Source: Map Data © 2019 Google
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MCDONALD’S
MACON DOWNTOWN
AIRPORT
2730 WEAVER ROAD
Source: Map Data © 2019 Google
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FINANCIALANALYSIS
2730 WEAVER ROAD
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate
Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2017 Marcus & Millichap ACT ID ZAA0450125
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*Loan information is subject to change. Contact your Marcus and Millichap Capital Corporation representative.
PRICE $12,200,000
Down Payment $4,270,000
Down Payment % 35%
Number of Suites 1
Price Per SqFt $45.19
Rentable Built Area (RBA) 270,000 SF
Lot Size 30.84 Acres
Year Built/Renovated 1975/2019
Occupancy 100%
RETURNS CURRENT
CAP Rate 6.29%
Cash-on-Cash 5.58%
Debt Coverage Ratio 1.45
FINANCING 1st Loan
Loan Amount $7,930,000
Loan Type New
Interest Type 4.50%
Amortizaion 25 Years
Year Due 2024
PRICING DETAILS
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OPERATING DATA
INCOME CURRENT PER SF
Scheduled Base Rental Income $810,000 $3.00
Expense Reimursement Income
CAM $23,760 $0.09
Real Estate Taxes $64,800 $0.24
Total Reimbursement Income $88,560 67.3% $0.33
Effective Gross Income $898,560 $3.33
OPERATING EXPENSES CURRENT PER SF
Landscaping $23,760 $0.09
Insurance $16,000 $0.06
Real Estate Taxes $64,800 $0.24
Other Expenses $27,000 $0.10
Total Expenses $131,560 $0.49
Expenses as % of EGR 14.6%
Net Operating Income $767,000 $2.84
TENANT SUMMARY
LEASE DATES
TENANT SUITESQUARE
FEET% BLD SHARE
COMM. EXP.ANNUAL RENT/SF
TOTAL RENT/
MONTH
TOTAL RENT/YEAR
LEASE TYPE
RENEWAL OPTIONS
Blue Bird Corporation 1 270,000 100.0% 7/1/19 6/30/22 $3.00 $67,500 $810,000 NNIncludes
three 3-year options
Note: Tenant also has the ability to utilize three additional smaller buildings on site totaling roughly 30,000 square feet which are not included in the rental rate calculation.
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Blue Bird (NASDAQ - BLBD) offers a complete line of
Type A, C and D school buses in a variety of options and
configurations. Since 1927, Blue Bird Corporation has
continued to set industry standards with its innovative
design and manufacturing capabilities. Additionally,
Blue Bird provides comprehensive financial solutions
through Blue Bird Capital Services. Today, Blue Bird
has more than 2,100 employees, Georgia-based
manufacturing facilities and an extensive network of Dealers
and Parts & Service facilities throughout North America.
Since 2010 total revenue is up over 50 percent, bus
unit sales volume is up more than 40 percent and North
American market share has increased 7 points to 30
percent.
General Information
Tenant Name Blue Bird Corporation
Website https://www.blue-bird.com
Headquartered Macon, GA
Rentable Square Feet 270,000 SF
Percentage of RBA 100%
Lease Commencement 7/1/2019
Lease Expiration 6/30/2022
TENANT PROFILE - BLUE BIRD CORPORATION
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COMPARABLEPROPERTIES
2730 WEAVER ROAD
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate
Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2017 Marcus & Millichap ACT ID ZAA0450125
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2730 Weaver Road
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45
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SALES COMPARABLES
1 7391 Pepperdam Ave
2 525 Marathon Way
3 Owens Corning
4 4345 Confederate Way
5 Amazon Fulfillment Center
6 437 Telfair Rd
7 513 Old Griffin Rd
8 200 Union Grove Rd SE
9 3000 Tremont Rd
10 135 Intercraft Dr
11 279 Old Murdock Rd
12 420 Southwell Blvd
Source: Map Data © 2019 Google
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AVERAGE CAP RATE SALES COMPARABLES SALES COMPS AVG
AVERAGE PRICE PER SQUARE FOOT
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7391 PEPPERDAM AVE7391 Pepperdam Ave | North Charleston, SC
2730 WEAVER ROAD2730 Weaver Rd | Macon, GA
1
SALES COMPARABLES
ASKING PRICE $12,200,000
Price/SF $45.19
CAP Rate 6.29%
Year Built 1975
Year Renovated 2019
Occupancy 100%
SALES PRICE $5,150,000
Sale Date 11/19/2018
Rentable SF 101,500
Price/SF $50.74
CAP Rate 7%
Year Built 1977
Occupancy 100%
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525 MARATHON PKWY525 Marathon Pkwy | Lawrenceville, GA
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SALES PRICE $8,185,000
Sale Date 10/5/2018
Rentable SF 121,680
Price/SF $67.27
CAP Rate 5.00%
Year Built 1994
Occupancy 100%
OWENS CORNING2650 Wagener Rd | Aiken, SC
3
SALES PRICE $11,350,000
Sale Date 10/29/2018
Rentable SF 175,000
Price/SF $64.86
CAP Rate 6.14%
Year Built 2014
Occupancy 100%
NOTES
At the time of sale, the building was fully leased by Owens Corning.
SALES COMPARABLES
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4345 CONFEDERATE WAY4345 Confederate Way | Macon, GA
AMAZON FULFILLMENT CTR7001 Skipper Rd | Macon, GA
4 5
SALES COMPARABLES
SALES PRICE $76,550,000
Sale Date 12/17/2018
Rentable SF 1,016,014
Price/SF $75.34
CAP Rate 5.40%
Year Built 2018
Occupancy 100%
SALES PRICE $1,150,000
Sale Date 7/23/2019
Rentable SF 61,452
Price/SF $18.71
CAP Rate 6.00%
Year Built 1977
Occupancy 100%
NOTES
The property was a build-to-suit distribution center for Amazon with a 15-year lease in place at the time of sale.
NOTES
This property is just on the other side of Interstate-16 from the subject property, less than a 1.5-mile drive. The single-tenant industrial property was fuly leased on a triple net (NNN) basis at the time of sale.
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437 TELFAIR RD437 Telfair Rd | Savannah, GA
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SALES PRICE $11,000,000
Sale Date 8/28/2018
Rentable SF 207,676
Price/SF $52.97
CAP Rate 6.80%
Year Built 2007
Occupancy 100%
NOTES
The property was sold at a 6.80% CAP rate, however the tenant, Supply Chain Management, vacated the property shortly after the sale to move into a new building. The property has been available for lease since then at $4.50 NNN.
*Not a representative photo
513 OLD GRIFFIN RD513 Old Griffin Rd | Piedmont, SC
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SALES PRICE $10,995,812
Sale Date 11/7/2018
Rentable SF 210,891
Price/SF $52.14
CAP Rate 7.59%
Year Built 1993
Occupancy 100%
NOTES
The tenant is on a 10-year, triple net lease expiring November 6, 2028. The buyer broker reported a 7.59% cap rate, however there were major repairs to the roof needed which totaled $1.3 million. This puts the investment into the building at approximately $12.3 million resulting in a 6.79% CAP rate.
SALES COMPARABLES
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200 UNION GROVE RD SE200 Union Grove Rd SE | Calhoun, GA
3000 TREMONT RD3000 Tremont Rd | Savannah, GA
8 9
SALES COMPARABLES
SALES PRICE $19,940,000
Sale Date 7/19/2019
Rentable SF 300,000
Price/SF $66.47
Year Built 1975
Occupancy 100%
SALES PRICE $10,100,000
Sale Date 4/25/2019
Rentable SF 275,500
Price/SF $36.66
CAP Rate 6.65%
Year Built 2007
Occupancy 100%
NOTES
The property was fully leased to Hanes Companies with approximately 9.5 years remaining on their lease term.
NOTES
The building was built in the same year as the subject property with similar construction, style and size.
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135 INTERCRAFT DR135 Intercraft Dr | Statesville, NC
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SALES PRICE $18,750,000
Sale Date 6/7/2019
Rentable SF 301,000
Price/SF $62.29
Year Built 1978
Occupancy 100%
NOTES
This was a sale-leaseback with a 20-year term triple net. The building was built around the same time as the subject property with similar construction, style and size.
279 OLD MURDOCK RD 279 Old Murdock Rd | Troutman, NC
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SALES PRICE $16,750,000
Sale Date 9/28/2018
Rentable SF 301,000
Price/SF $55.65
CAP Rate 6.83%
Year Built 2018
Occupancy 100%
NOTES
The property began construction as a spec build, but was leased to Saddle Creek before it delivered near the beginning of 2018. There were 4.8 years remaining on the lease at the time of sale at a $3.80/SF rate yielding a 6.83% CAP rate.
SALES COMPARABLES
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420 SOUTHWELL BLVD420 Southwell Blvd | Tifton, GA
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SALES COMPARABLES
SALES PRICE $11,500,000
Sale Date 6/26/2019
Rentable SF 214,000
Price/SF $53.74
Year Built 1977
Occupancy 100%
NOTES
Lennox International sold the property. Lennox also owns Heatcraft, who occupies the building and had approximately 9 years remaining on their lease term at close.
*Not a representative photo
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2730 Weaver Road2
LEASE COMPARABLES
1 244 Mercer Jct
2 580 Joe Tamplin Industrial Blvd
3 Caterpillar Logistics Services
4 Amazon Fulfillment Center
Source: Map Data © 2019 Google
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244 MERCER JCT244 Mercer Jct | Macon, GA
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LEASE COMPARABLES
2730 WEAVER ROAD2730 Weaver Rd | Macon, GA
Rent/SF $3.00
Year Built 1975
Year Renovated 2019
Occupancy 100%
Lease Type NN
Lot Size 30.84 Acres
Parking Ratio 0.6
Survey Date 5/10/2019
Rentable SF 66,499
Available SF 66,499
Rent/SF $3.95
Year Built 2006
Occupancy 100%
Lease Type NNN
Lot Size 11.33
NOTES
Sublease of a former FedEx location. Includes 29 dock doors, nine drive-ins, and 22’ ceiling.
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CATERPILLAR LOGISTICS SERVICES700 Hudson Rd | Griffin, GA
580 JOE TAMPLIN INDUSTRIAL BLVD580 Joe Tampline Industrial Blvd | Macon, GA
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Survey Date 12/2/2018
Rentable SF 120,000
Available SF 33,000
Rent/SF $4.10
Year Built 1986
Occupancy 100%
Lot Size 9.95
NOTES
Multi-tenant building. Lease comp is for Kumho Tire who will occupy 33,000 square feet on a net leased basis. This leased section of the build-ing includes 9 dock doors. The lease is a three-year term.
NOTES
This was a sale-leaseback with a 20-year term triple net. The building was built around the same time as the subject property with similar construction, style and size.
Survey Date 10/1/2017
Rentable SF 218,120
Available SF 218,120
Rent/SF $3.85
Year Built 2006
Occupancy 100%
Lease Type NNN
Lot Size 15.19
LEASE COMPARABLES
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AMAZON FULFILLMENT CTR7001 Skipper Rd | Macon, GA
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NOTES
Amazon Fulfillment moved into the property in October 2018 construction completed. The lease is for 15 years.
LEASE COMPARABLES
Survey Date 10/1/2018
Rentable SF 1,016,014
Available SF 1,016,014
Rent/SF $4.07
Year Built 2018
Occupancy 100%
Lease Type NNN
Lot Size 86.97
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MARKETOVERVIEW
2730 WEAVER ROAD
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate
Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2017 Marcus & Millichap ACT ID ZAA0450125
MACON OVERVIEW
Macon is the geographic center of Georgia and known for
its music, giving us Little Richard, Otis Redding and the
Allman Brothers. The metro hosts a sizable Air Force base,
notable universities and the world’s largest true copper
dome. A midpoint between Atlanta and Savannah, Macon
is the state’s fourth largest metro with 232,000 residents in
Bibb, Crawford, Jones, Monroe and Twiggs counties.
METRO HIGHLIGHTS
HIGHER EDUCATIONColleges and universities in the metro include Mercer University, Middle Georgia State, Wesleyan and Macon State College.
DIVERSE ECONOMYThe metro’s employment mix is upheld by its number of government, healthcare and insurance positions.
MILITARY PRESENCERobins Air Force Base is the largest single-site industrial complex in Georgia. The base has an annual federal payroll of $1.3 billion and is home to the Warner Robins Air Logistics Complex.
► Apart from Robins AFB, Geico, Navicent Health and the Bibb County Board of Education are the metro’s top employers. Amazon opened a fulfillment center that employs more than 500 workers.
► The aircraft industry maintains a local presence led by the Boeing Co., and Haeco. YKK Inc. represents another top manufacturer.
► The Georgia Power utility company plans to construct a more than 500,000-square-foot solar panel facility adjacent to Robins AFB. ► Mercer University is the oldest private college in Georgia, with an
enrollment of 8,600, and it is estimated to have an $367 million impact on the economy
ECONOMY
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ECONOMY
POPULATION 5 MILES 10 MILES 15 MILES
2023 ProjectionTotal Population
30,331 125,009 240,295
2018 EstimateTotal Population
31,296 126,780 237,662
2010 CensusTotal Population
31,664 128,354 236,076
2000 CensusTotal Population
33,736 132,189 229,303
Daytime PopulationsTotal Population
59,340 163,567 287,495
HOUSEHOLDS 5 MILES 10 MILES 15 MILES
2023 ProjectionTotal Households
11,667 48,237 93,044
2018 EstimateTotal Households
11,890 48,374 90,718
2010 CensusTotal Households
12,200 49,530 91,019
2000 CensusTotal Households
12,974 51,664 87,596
HOUSING UNITS 5 MILES 10 MILES 15 MILES
Occupied Units
2023 Owner Occupied Housing Units 44.0% 50.7% 56.6%
2023 Renter Occupied Housing Units 56.0% 49.4% 43.4%
2023 Vacant 19.1% 17.5% 13.9%
2018 Owner Occupied Housing Units 43.8% 50.5% 56.2%
2018 Renter Occupied Housing Units 56.2% 49.5% 43.8%
2018 Vacant 18.8% 17.2% 13.8%
2010 Owner Occupied Housing Units 46.5% 53.4% 59.2%
2010 Renter Occupied Housing Units 53.5% 46.6% 40.8%
2010 Vacant 16.7% 15.2% 12.6%
2000 Owner Occupied Housing Units 42.4% 49.8% 55.7%
2000 Renter Occupied Housing Units 43.6% 38.0% 33.7%
2000 Vacant 14.0% 12.1% 10.7%
HOUSEHOLDS BY INCOME 1 MILE 3 MILES 5 MILES
2018 Estimate
$250,000 + 0.5% 1.1% 1.7%
$200,000 to $249,999 0.3% 0.6% 0.9%
$150,000 - $200,000 1.1% 2.0% 2.8%
$125,000 - $149,999 1.2% 2.0% 3.1%
$100,000 - $124,999 3.6% 4.6% 6.6%
$ 75,000 - $99,999 6.0% 7.9% 10.5%
$ 50,000 - $74,999 14.1% 15.5% 17.9%
$ 35,000 - $49,999 13.8% 13.8% 13.5%
$ 25,000 - $34,999 12.4% 12.0% 11.0%
$ 15,000 - $24,999 14.7% 14.7% 12.4%
$ 0 - $ 14,999 32.3% 25.8% 19.7%
Median Household Income $26,997 $32,596 $42,213
Per Capita Household Income $16,348 $19,343 $23,541
Average Income $39,642 $49,467 $60,861
HOUSEHOLDS BY INCOME 1 MILE 3 MILES 5 MILES
Population By Age
2018 Estimate Total Population 31,113 126,552 239,022
Under 20 27.23% 28.61% 27.56%
20 - 34 Years 22.92% 21.24% 20.73%
35 - 39 Years 5.89% 5.90% 6.10%
40 - 49 Years 11.07% 11.12% 11.55%
50 - 64 Years 18.81% 18.60% 19.26%
Age 65+ 14.07% 14.54% 14.81%
Median Age 34.87% 35.13% 36.38%
Population 25+ by Education Level
2018 Estimate Population Age 25+ 19,878 80,529 156,089
Elementary (0-8) 5.40% 3.89% 3.16%
Some High School (9-11) 17.97% 14.33% 11.70%
High School Graduate (12) 36.96% 34.94% 32.62%
Some College (13-15) 19.57% 20.80% 22.38%
Associate Degree Only 4.69% 6.51% 7.55%
Bachelors Degree Only 8.66% 11.27% 13.09%
Graduate Degree 5.10% 6.85% 8.14%
Time Travel to Work
Average Travel Time in Minutes 22 22 23
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E X C L U S I V E LY L I S T E D
2730 WEAVER ROAD
ADAM BAKERInvestment SpecialistNational Office and Industrial Properties GroupCharleston, SCCell 253.905.3933Office [email protected] SC 110290
PAUL PASCHALInvestment SpecialistNational Office and Industrial Properties GroupCharleston, SCCell 704.778.2235Office [email protected] SC 90574
MIKE FASANO, GA BORMarcus & Millichap Real Estate Investment Services of Atlanta, Inc.GA License #352663