OFFERING MEMORANDUM - ALPHARETTA BUSINESS CENTER ALPHARETTA, GA - Ben F. Kushner Co.
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OFFERING MEMORANDUM
ALPHARETTA BUSINESS CENTER
ALPHARETTA, GA
EXECUTIVE SUMMARY ALPHARETTA BUSINESS CENTER
2
ALPHARETTA BUSINESS CENTER
EXECUTIVE SUMMARY
ALPHARETTA BUSINESS CENTER
11940 Alpharetta Highway
Alpharetta, GA 30004
Gross Leaseable Area 55,120
NOI $355,738
Current Occupancy 77%
Year Built 1988 INCOME CURRENT PRO FORMA Top 15 Alpharetta Employers
Rental Income $387,181 $476,109
Lot Size 5.92 Acres ADP, Inc.
Additional Income $104,587 $131,982
McKesson Information Services
No. of Parking Spaces 164 Total Income $491,768 $608,091
Verizon Business Network Services
Parking Ratio 3.034/1,000 EXPENSES
Hewlett-Packard Company
EXECUTIVE SUMMARY
Utility
Lexis Nexis Risk Solutions
Electric $16,303 $16,303
Water UPS Supply Chain Solutions
DEMOGRAPHICS $7,260 $7,260
Equifax Information Services
1 MILE 3 Miles 5 Miles Total Utilities $23,563 $23,563
GE Consumer Finance-America
Landscape Maintenance $8,050 $8,050
Population 6,945 65,292 180,743 Ryder Truck Rental Inc.
Pest Control $1,580 $1,580
Average HH E Trade Financial Corporation
Income
$87,193 $106,230 $115,081 Garbage $7,818 $7,818
Property Tax $74,560 $74,560 NCR Corporation
Population
5.8% 13.61% 10.56% Comcast
Growth Property Insurance $11,649 $11,649
CAM Maintenance $8,522 $8,522 Halyard Health, Inc.
Total Operating Expenses $141,973 $141,973 Marketsource, Inc.
Net Operating Income $355,738 $472,061 AIG Insurance
3
EXECUTIVE SUMMARY ALPHARETTA BUSINESS CENTER
4
ALPHARETTA BUSINESS CENTER
INVESTMENT HIGHLIGHTS
ALPHARETTA BUSINESS CENTER
❏ Strategically located on the main corridor between Alpharetta and
Roswell, one of the fastest growing metro areas in the country, with
median household income just shy of $150,000
❏ Easy access to GA-400 in either direction
❏ Close proximity (less than 1/2 mile) to ever expanding North Fulton
Hospital.
❏ Future redevelopment opportunity, with good in place income
currently
❏ Large parcel without having to assemble 5 acres+
❏ Excellent demographics: population over 180,000; average
household incomes over $115,000 within five miles
EXECUTIVE SUMMARY
❏ Traffic count exceeds 31,000 vehicles per day
❏ Alpharetta businesses employ over 120,000
❏ Close proximity to Avalon, a premier shop-dine-live-work-play
destination
❏ Upside opportunity with lease of Suite 150 - NOI increased to
$472,061 (see Pro Forma statement)
5
PROPERTY DESCRIPTION
ALPHARETTA BUSINESS CENTER
REGIONAL MAP
Fortune 500 Alpharetta Business
Company HQ Center
13
Fortune 1000
Company HQ
24
PROPERTY DESCRIPTION
Atlanta, GA
Hartsfield-Jackson
International Airport
8ALPHARETTA BUSINESS CENTER
LOCAL MAP
Avalon
Alpharetta
Alpharetta Business
Population Center Alpharetta
City Hall
63,972 North
Fulton Hospital
Alpharetta
Daytime
Population
122,000+
North Point Mall
PROPERTY DESCRIPTION
Downtown Atlanta, GA
25.2 Miles í
9ALPHARETTA BUSINESS CENTER
AERIAL
PROPERTY DESCRIPTION
10ALPHARETTA BUSINESS CENTER
RENT ROLL
SQUARE LEASE TERM ADDITIONAL TOTAL
TENANT SUITE NO. FEET FROM TO BASE RENT RENT ANNUAL RENT
Barron Investment Group 100 1,400 9/1/2015 10/31/2020 $1,226.16 $287.92 $19,154.88
Herbal Fusion Clinic & Apoth 102 1,300 4/1/2017 8/31/2022 $1,625.00 $267.36 $23,623.68
Mobility More, LLC 103/104 2,380 10/1/2013 1/31/2021 $1,838.55 $489.47 $29,612.16
C & G Pharmacy 106 2,860 4/1/2002 8/31/2022 $3,575.00 $588.18 $51,972.24
Erins Hope for Friends 110 2,811 1/1/2016 2/28/2021 $2,236.65 $578.11 $35,756.52
A-1 Driving School Inc. 112 1,200 9/1/2018 12/1/2023 $1,200.00 $246.79 $18,206.52
Gadoua Chocolate 114/116 2,177 5/1/1999 3/31/2023 $1,937.77 $447.72 $30,158.88
*** VACANT *** 118 1,625 0.00
William Beltran - Church 120 1,400 5/1/2009 11/30/2019 $1,166.67 $287.92 $18,409.68
The Snooty Fox Tack Exchange 129 1,600 6/1/2003 8/31/2023 $1,350.00 $329.05 $21,275.40
PROPERTY DESCRIPTION
Widowmaker 6, LLC 130 1,560 5/1/2018 4/30/2021 $1,339.00 $320.83 $23,779.68
Dot & Design,LLC db Southprint 132/134 3,284 11/1/2017 10/31/2020 $2,509.08 $675.38 $35,055.60
Legacy Community Academy, Inc. 121 -146 20,407 5/1/2003 6/30/2020 $12,261.21 $4,196.87 $211,867.44
*** VACANT *** 150 11,116 0.00
TOTAL SQUARE FEET 55,120 $32,265.09 $8,715.59 $491,768.21
TOTAL OCCUPIED 42,379
TOTAL VACANT 12,741
11Downtown
Atlanta
The Village at
Wills ParkMARKET OVERVIEW
DRAFT ALPHARETTA BUSINESS CENTER
Alpharetta, Georgia
MARKET OVERVIEW
14 Aerial view of Alpharetta City CenterALPHARETTA BUSINESS CENTER
Alpharetta, Georgia is a thriving suburb of Atlanta that has More Than
enjoyed extraordinary growth and development over the last
ten years. The city is home to several Fortune 500 and 1000 1,000,000
companies, including McKesson Technology Solutions, AT&T,
ADP, Fiserv, Verizon Wireless, LexisNexis and UPS. People Within
30 Minute Drive
Alpharetta is known as the “Technology City of the South.” It is
home to more than 700 tech-based companies.
Median Home Income
Alpharetta boasts a citywide fiber network that provides ultra
fast internet access. Its proximity to the largest airport in the U.S.
and a workforce of more than 1 million people within a 30 minute
drive have attracted numerous entrepreneurs and established
companies to the city. Forbes rated Alpharetta the Number 1
$93,613
relocation city in the US in 2018. It is the 6th fastest growing city
in the US.
Within the last several years, a number of projects have trans-
formed the city, including:
$344K
Median Home Price
Avalon - opened in 2017, Avalon is a “sustainably designed,” 86-
acre mixed-use community featuring more than 500,000 square
feet of retail, a 12-screen theater, Class A office, full-service hotel 6th
MARKET OVERVIEW
and conference center, single-family residences and luxury rental Fastest
homes.
Growing City
Alpharetta City Center - a 26-acre mixed-use property developed in the U.S.
in partnership with the City of Alpharetta to expand the existing
downtown historic district.
MONEY Magazine named Alpharetta ‘The Number One Place to
Highly Educated Workforce
Live in Georgia’ in their 2018 ranking of the “Best Place to Live in
Every State,” citing the city’s easy commute to Atlanta, wide variety Graduate Degree - 26.4%
of indoor and outdoor attractions, and 750 acres of parkland. Bachelor’s Degree - 64.6%
Associate’s Degree - 6.6%
15ALPHARETTA BUSINESS CENTER
NEW ALPHARETTA DEVELOPMENTS
Under Development:
The Village at Wills Park
Directly adjacent to the Alpharetta Business Center
is the site of The Village at Wills Park, a 117-Unit,
157,401 square foot senior living facility. The property’s
developers have three existing branches, including two
in Alpharetta.
The new Wills Road location will offer a “unique,
farmhouse-style senior living community” made up
of assisted living and memory care. The developer’s
plans include a main building and several single-story
cottages and duplexes, as well as an independent living
portion.
MARKET OVERVIEW
16ALPHARETTA BUSINESS CENTER
Under Development:
The Point
The Alpharetta City Council recently approved
a rezoning proposal that could pave the way for
the redevelopment of a section of North Point
Mall.
The approval allows for more than 80 acres of
mall property to be rezoned to permit 24,000
square feet of new apartments and retail to be
rebuilt at the mall site.
The project, designed by Dwell Design Studio,
also provides North Point Mall with additional
green space and a multi-use trail wrapping
around it.
The project has drawn comparisons to
MARKET OVERVIEW
Alpharetta’s Avalon, an 86-acre mixed-use
development.
17ALPHARETTA BUSINESS CENTER
ALPHARETTA DEVELOPMENTS
Recently Opened
Alpharetta City Center
Alpharetta City Center is located in downtown
Alpharetta at the intersections of Main Street, Academy
Street, Broad Street, Market Street and Commerce
Street.
The city opened its new City Hall, a new Fulton County
Library, a five-acre park, a one-acre Town Green, and a
445-car parking deck in January, 2015. Upscale shops,
restaurants and apartments opened throughout 2018
and 2019. City Center received a 2018 Development
of Excellence award from the Atlanta Regional
Commission.
Recently Opened
Avalon
Avalon is located in the heart of Alpharetta.
MARKET OVERVIEW
The development combines 500,000
square feet of retail with office, single and
multifamily homes, a conference center
and full-service hotel, and entertainment
space to create a seamlessly connected
community of shopping, dining,
entertainment, living and working.
18Exclusively Listed By:
Calvin Stephenson
Vice President
Ben F. Kushner Co.
19241 Birmingham Hwy
Alpharetta, GA 30004
Direct: 404.597.6056
Email: cstephenson@bfkco.comYou can also read
