now offering turnkey industrial office condo€¦ · turnkey industrial office condo 2125 barrett...

Located in multi-tenant, two-story light industrial complex.

TURNKEY INDUSTRIAL OFFICE CONDO2125 Barrett Park Drive NW, Suite 104 | Kennesaw, GA (Atlanta MSA)

NOW OFFERING

This Offering Memorandum and any subsequent evaluation material you may be provided (collectively known as the “Offering Memorandum”) is intended solely for your limited use in considering whether to pursue negotiations to acquire 2125 Barrett Park Dr. (the “Property”) located in Kennesaw, Georgia, which is being marketed for sale by Ackerman & Co. (“Broker”).

The Offering Memorandum contains brief, selected information pertaining to the business and affairs of the Property and has been prepared by Broker. It does not, however, purport to be all-inclusive or to contain all of the information that a prospective purchaser may desire. Broker makes no representation or warranty, express or implied, as to the accuracy or completeness of the Offering Memorandum or any of its contents, and no legal liability is assumed to be implied with respect thereto.

By acknowledgment of your receipt of the Offering Memorandum you agree that the Offering Memorandum and its contents are confidential, that you will hold and treat it in the strictest of confidence, that you will not directly or indirectly disclose, or permit anyone else to disclose, the Offering Memorandum or its contents to any other person, firm, or entity (including, without limitation, any principal for whom you have been engaged), without prior written authorization of Owner or Broker and that you will not use or permit to be used the Offering Memorandum or its contents to be copied or used in any fashion or manner detrimental to the interest of Owner. Photocopy or other duplication is strictly prohibited.

THE OFFERING MEMORANDUM SHALL NOT BE DEEMED TO REPRESENT THAT STATE OF AFFAIRS OF THE PROPERTY OR CONSTITUTE AN INDICATION THAT THERE HAS BEEN NO CHANGE IN THE BUSINESS OR AFFAIRS OF THE PROPERTY SINCE THE DATE OF PREPARATION OF THE OFFERING MEMORANDUM.

The information provided in the Offering Memorandum has been gathered from sources that are deemed reliable, but the Broker does not warrant or represent that the information is true or correct. Prospective offers are advised to verify information independently. The Offering Memorandum is not to be construed as an offer or as any part of a contract to sell the property.

Furthermore, the inclusion or exclusion in the Offering Memorandum of information relating to asbestos or any other hazardous, toxic or dangerous chemical item, waste or substance (hereinafter collectively referred to as “Waste”) relating to the Property shall in no way be construed as creating any warranties or representations, expressed or implied by the Broker as to the existence or nonexistence or nature of Waste in, under or on the Property, it may create significant legal and/or economic obligations upon the Owner, lessee and/or other holders of interest in the Property or a part thereof and you are hereby advised to obtain professional assistance such as from a consultant, engineer and/or attorney prior to taking an interest in the Property or a part thereof.

Exclusively Offered By:

ROOSEVELT BROWNVice President770.913.3917

[email protected]

CONFIDENTIAL DISCLAIMER

2125 BARRETT PARK DRIVE NW, SUITE 104 | KENNESAW, GA

01 INVESTMENT OVERVIEW Executive Summary Location Map Location Aerial Property Description Property Photos Floor Plans

02 MARKET SUMMARY Submarket Activity Sales Comparables Demographics

Table of Contents

01. INVESTMENT OVERVIEW

Executive Summary

Location Map

Location Aerial

Property Description

Property Photos

Floor Plans

2125 BARRETT PARK DRIVE NW | KENNESAW, GA

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INVESTMENT OVERVIEW | EXECUTIVE SUMMARY 52125 BARRETT PARK DRIVE NW, SUITE 104 | KENNESAW, GA |

Ackerman & Co exclusively presents for sale a 5,320 SF turnkey light-industrial condo with ample warehouse space, located in a multi-tenanted, two-story industrial complex in metro Atlanta.

Strategically located in the heart of the City of Kennesaw within the Kennesaw/Acworth submarket, this light-industrial property offers numerous benefits to the successful owner or investor:

n Quality asset – Built in 2007 and professionally managed, the property offers a flexible floor plan with the combination of executive suites, general office space and warehouse.

n Prime opportunity − One of the few available spaces in the complex.

n Interstate accessibility – Minutes from I-75, I-575 & Hwy 41.

n Great investment − Ideal for owner-user or investor seeking to rent and hold.

n Continued rent growth − With solid fundamentals and modest supply-side pressure, rent growth is expected to remain elevated.

n Dynamic submarket − Excellent retail, residential, medical and restaurant presence.

INVESTMENT SUMMARY

Address: 2125 Barrett Park Dr. NW, Suite 104, Kennesaw, GA 30144

Purchase Price: $600,000

Average Rental Rate: $11.55/SF

Size: 5,320 SF

Building Size: 55,614 SF

Year Built: 2007

Acreage: 0.12 acres

Zoning: LI

Monthly Association Dues: $487.67 (2018)

Annual Taxes: $5,335 (2018)

ATLANTA

COBBCOUNTY

COBB COUNTY INTERNATIONAL

AIRPORT

HARTSFIELD-JACKSON ATLANTA INTERNATIONAL

AIRPORT

KENNESAW

MARIETTA

SMYRNA

85

75

675

285

20

85

75 575

20

COBB COUNTY INTERNATIONAL AIRPORT

2125 BARRETTPARK DRIVE

75

Old Hw

y 41 NW

Cobb Pkwy NW

McCollum Pkwy NW

Ernest

W Barr

ett Pk

wy NW

Roberts Blvd

Barret Park Dr

62125 BARRETT PARK DRIVE NW, SUITE 104 | KENNESAW, GA |INVESTMENT OVERVIEW | LOCATION MAP


2125 BARRETT PARK DRIVE

575

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COBB PKWY

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PKW

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TOWN CENTER AT COBB

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KENNESAW MOUNTAINNATIONAL BATTLEFIELD PARK

EXIT269

EXIT1

72125 BARRETT PARK DRIVE NW, SUITE 104 | KENNESAW, GA |

41,000 VPD 53,000 VPD

225,000 VPD

84,000 VPD

152,000 VPD

29,000 VPD

INVESTMENT OVERVIEW | LOCATION AERIAL

82125 BARRETT PARK DRIVE NW, SUITE 104 | KENNESAW, GA |INVESTMENT OVERVIEW | PROPERTY DESCRIPTION

Address: 2125 Barrett Park Drive NW, Suite 104 Kennesaw, GA 30144

GLA: 5,320 SF

Total Area: 0.12 Acres

Location:The subject property is located minutes from I-75 and Hwy 41.

Year Built: 2007

Zoning: LI

Property Tax Parcel: 2001740040

Offering Price: $600,000

Parking: 10 spaces

UtilitiesAll public utilities including water and sewer, electric, telephone (multiple providers) are covered by tenant/owner.

Tenants: The space is vacant with furnishings.

Interior: First floor: cubicle area with 15± work stations, 2 restrooms, storage closetSecond floor: four offices, technology closet, standing work station, office phone boothWarehouse: 2,500 SF, with 10’ X 12’ drive-in rear door and rear access door.

Signage: Monument sign

92125 BARRETT PARK DRIVE NW, SUITE 104 | KENNESAW, GA |INVESTMENT OVERVIEW | PROPERTY PHOTOS

102125 BARRETT PARK DRIVE NW, SUITE 104 | KENNESAW, GA |EXECUTIVE SUMMARY | PROPERTY PHOTOS

100’ - 0”1’ - 0”33’ - 0”24’ - 0”9’ - 0”23’ - 0”9’ - 0”1’ - 0”

16’ - 7 1/2” 9’ - 10 1/4”

40’ -

0”

5’ - 4”

7’ - 6”

5’ -

0”10

’ - 8

1/4

”5’

- 10

5/8

”4’

- 6”

112125 BARRETT PARK DRIVE NW, SUITE 104 | KENNESAW, GA |EXECUTIVE SUMMARY | FLOOR PLAN | 1ST FLOOR

WAREHOUSE2,785 SF

OFFICE1,215 SF

42” A

FF

42” A

FF

6’ -9

”

4’ -6

5/8

”

10’ -

11 1

/8”

13’ -

0”

13’ -

0”

14’ -1 3/8”

12’ -9 5/8”

122125 BARRETT PARK DRIVE NW, SUITE 104 | KENNESAW, GA |EXECUTIVE SUMMARY | FLOOR PLAN | 2ND FLOOR

OFFICE1,320 SF WAREHOUSE SPACE

BELOW

02. MARKET SUMMARY Submarket Activity

Sales Comparables

Demographics

2125 BARRETT PARK DRIVE NW | KENNESAW, GA


KENNESAW/ACWORTH SUBMARKET

MARKET SUMMARY | SUBMARKET ACTIVITY

Located 25 miles north of Atlanta, Kennesaw is one of Georgia’s most historic cities, with approximately 32,000 residents and a median household income of $107,458.

COBBCOUNTY

COBB COUNTY INTERNATIONAL

AIRPORT

HARTSFIELD-JACKSON ATLANTA INTERNATIONAL

AIRPORT

KENNESAW

MARIETTA

SMYRNA

ATLANTA

KENNESAW/ACWORTHSUBMARKET

85 75

675

285

20

85

75 575

20

152125 BARRETT PARK DRIVE NW, SUITE 104 | KENNESAW, GA |MARKET SUMMARY | SUBMARKET ACTIVITY

CSX TRANSPORTATIONRailroad connection Atlanta and to the Midwest

n The Kennesaw/Acworth submarket is home to one of the busiest rail corridors in Georgia - the CSX rail line connecting Atlanta with the Midwest.

n This distribution district is also accessible by the Georgia Northeastern rail line and I-75.

KENNESAW STATE UNIVERSITY

Serving nearly 36,000 students, Kennesaw State’s collective employment impact in FY 2017 was 14,441 full- and part-time jobs. The FY 2017 study found that the University System has generated nearly 163,754 full- and part-time jobs – 3.7% of all jobs in Georgia, or about one in every 27 jobs.

35,800±Total students

enrolled

RANKED #45 in most innovative schools nationwide

162125 BARRETT PARK DRIVE NW, SUITE 104 | KENNESAW, GA |MARKET SUMMARY | SUBMARKET ACTIVITY

In the northern part of the county, city officials in Kennesaw are busy keeping track of an explosion of residential and retail development. The biggest of these is the new Kennesaw Marketplace at the corner of Highway 41 and Barrett Parkway. The 50-acre mixed-use development is opening in stages and includes national brands like Starbucks, Whole Foods Market, Academy Sports and Hobby Lobby. There is also a residential development nearby as well.

Although outside the boundaries of the Town Center CID, it reflects a resurgence of development in this vibrant jobs center.

KENNESAW’S GROWTH

Kennesaw Marketplace, national brands:

n Hobby Lobbyn Whole Foods Marketn Academy Sportsn Starbucksn AT&T

Over the past 18 months, we’ve had an infusion of more than $150 million in new investment into that space. It’s a really exciting time to see the change and potential for additional growth inside the district.”

-Tracy Rathbone, Executive Director of the Town Center CID



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172125 BARRETT PARK DRIVE NW, SUITE 104 | KENNESAW, GA |MARKET SUMMARY | SALES COMPARABLES

703 SW Fairgate Rd., Marietta, GA

5,423 SF Class C Flex Building

Sale price: $1,483,450

Price/SF: $273.55

Year Sold: 2017

1450 Cobb Pkwy., Marietta, GA

5,500 SF Class B Flex Building

Sale price: $700,000

Price/SF: $127.27

Year Sold: 2017



575

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75

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BARRETT

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182125 BARRETT PARK DRIVE NW, SUITE 104 | KENNESAW, GA |MARKET SUMMARY | LEASE COMPARABLES

1935 Vaughn Rd NW, Kennesaw, GA 30144

5,100 SF Class B Flex Building

Lease rate: $10 - $15 MG


Population 7,173

Number of Households 2,953

Avg. Household Income $90,186

Daytime Population 14,034

DEMOGRAPHICS (2018)

MARKET SUMMARY | DEMOGRAPHICS

Population 57,834




Population 173,622




5 MILES

3 MILES

1 MILE

now offering turnkey industrial office condo€¦ · turnkey industrial office condo 2125 barrett...

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