Post on 24-Jul-2016
description
VISIONEXECUTIONSUCCess
309 EAST PACES FERRY PRESENTED BYLINCOLN PROPERTY COMPANY
Design isnot just what it looks likeand feels likedesign is how it works.John Donahue
“
Qualifications:T.A.M.I. & Creative Spaces
730 midtown730 Peachtree street, atlanta, ga 30308
ACQUIRED: 2000
PRICE: $11,500,000
RENOVATION: $4,200,000, all building systems, finishes, facade
SOLD: $29,250,000
712 West Peachtree712 West Peachtree Street nw, atlanta, ga 30308
ACQUIRED: 2001
PARTNER: Lend Lease
SCOPE: Development of a 285,000 square foot, Class “A”, Office tower appealing to Tech and Dot.com industry
silhouette midtown1447 Peachtree Street Ne, Atlanta, GA 30309
ACQUIRED: 2006
CLIENT: Day Capital
RENOVATION: $3,500,000
SCOPE: Full building systems upgrades including interior and exterior renovations
3405 Piedmont3405 Piedmont RD NE, Atlanta, GA 30305
CLIENT: Colony Realty Partners
LEASING: 100% leased to TAMI and professional service tenants
INNOVATION400 and Haynes Bridge, Alpharetta, GA 30022
RESTAURANT VIEW FROM HAYNES BRIDGE ROAD
CLIENT: MetLife Real Estate Investments
ASSIGNMENT: 1.4 million square foot mixed use development focused on TAMI sector
VIEW OF MARKET STREET BUILDING FROM LAKEVIEW PARKWAY
PROJECT VIEW
ORIGINAL PROJECT VIEW
PROJECT VIEW
ORIGINAL PROJECT VIEW
The Jefferson455 Jefferson street, New York, NY 11237
ACQUIRED: 2015
SQFT: 125,000 SF
TYPE: Office/Retail
SCOPE: Full redevelopment and rehab of existing building in Brooklyn
The Desmond425 W 11th Street, Los Angeles, Ca 90015
ACQUIRED: 2013
SQFT: 78,500 SF
SCOPE: Full redevelopment and rehab of existing building in Los Angeles
i|o Playa Vista12130 & 12180 Millennium drive, Los angeles, ca 90094
ACQUIRED: 2011
SQFT: 301,000 SF
PARTNERS: Clarion Partners/LA Realty Partners
SCOPE: “Re-Invention” of existing office
Tustin2160 Barrance Parkway, Irvine, CA 92782
ACQUIRED: 2015
PHASE I: 760,000 SF creative office development/campus
SITE: 37 acres
PARTNERS: City of Tustin, CA
Good designis obvious.Great designis transparent.Joe soprano
“
Lessons Learned
The“Creative”Equation
+ =
I + E = P/s Interaction
Cool Environment
Productivity/satisfaction
CONNECTION
INTERNET
CLOUD
RELATED
Technology
COMMUNICATION
social media mobilemedia
WIFIconferencing
networkingfacebook
sharingrelationships
linktogetherness
collaboration
open
family/friends electronicsaccessibility
availability
network data
community
INTERIORS AMENITIES Exteriors
Interiors
amenities
exteriors
Sustainable brick & beam efficient openness transparency
roof top deck places to play bocce ball ping pong pool
glass transparency white sleek modern warehouse
collaborative interactive flexible utilization vibrant colorful glass
brew Pub/beer boot camp decompression lounge flexible conferencing fitness
brick nostalgic historic innovative street activated adaptive reuse
natural wood lighting portable comfortable
gigabit service mobile connection activated lobbies food trucks social patio fire pits kitchen bike room putt putt coffee ev stations
Key Features:1. Open floor plates which feature design elements such as high-traffic staircases that encourage accidental interactions; 2. More common areas than are strictly necessary – multiple cafeterias, other places to read and work that encourage workers to leave confined office;3. An emphasis on areas that hold two or more people, rather than single-occupancy offices; and4. Purpose-free generic “thinking” areas in open-plan spaces which encourage workers to do their thinking in the presence of other people, rather than alone.
Loft Office SPacesCreative loft office space is as popular as ever, and although initial construction costs are high, these spaces command much higher rents. They attract a different type of tenant from the traditional office user. The highly-valued TAMI subset of office users are drawn to these spaces, and their high profit margins drives significant demand for these spaces. Loft Office Space is characterized by large floor plates, high, open ceilings, collaborative spaces, and natural light. Fluorescent lights and cubicle farms have been replaced by low partitions and big windows. These spaces are much more expensive to build, but companies that occupy such spaces enjoy high margins and enjoy savings in other areas. Workers who occupy these spaces are more satisfied with their jobs—and that satisfaction drives worker retention.
Creativityis to thinkMoreEfficiently.Pierre Reverdy
“
who will lease
Who will lease?
Hospitality Solution Data Search Engine Cyber Security Health Care Solutions eCommmerce
Health Care Solutions CRM Technologies Online Investments Event Application eCommmerce
E-Invoicing Cyber Security
eCommerce Solutions
Financial Services Staff Agency Cyber Security Parking Application Software
CRM Lottery Technologies B2B Marketing
Cloud Services
Fitness Application
Consulting Services
Health Care Solutions
Marketing Solutions
amenities desired by TAMI companies:
Accessibledesignis gooddesign.Steve Ballmer
“
Leasing Strategy
strengths challengesUnmatched amenity base within walking distance of the Building
Location, Location, Location
Potential Retail opportunities at the Building
Smaller floor plates allow Tenants to control their own floor
Outstanding views
Sense of history (i.e. oldest high-rise office building in Buckhead)
Ceiling Heights
Smaller floor plates prohibit efficient expansion
Lack of Interstate Access
Lack of Public Transportation
Property LeveL Recommendations
Property LeveL Recommendations
DEMOLISH ALL FLOORS OF OFFICE SPACE TO INCLUDE CEILINGS AND GRID
Property LeveL Recommendations
COMPLETE RESTROOM RENOVATION WITH BUILDING STANDARD FINISHES ON ALL FLOORS
Property LeveL Recommendations
CREATE A SPEC FLOOR COMPLETE WITH HARD DUCT HVAC SYSTEM THROUGHOUT, SPRAY THE CEILING AND INSTALL BUILDING STANDARD LIGHTING
Property LeveL Recommendations
CONSIDER CREATION OF BALCONIES ON HIGHER FLOORS OF THE BUILDING
Property LeveL Recommendations
CREATE EXTERIOR SIGNAGE TO DISTINGUISH BUILDING FROM OTHERS
HAYNES BRIDGE ROAD VIEW
Property LeveL Recommendations
ACTIVATE LOBBY AND RETAIL AREAS
rent
Escalations
Lease Term
free rent
Tenant Improvementallowance
parking costs
Floor 3: $32/sf full-serviceFloors 4-7: $35/sf full-service
Floors 8-11: $38/sf full-service
3% 2.5%
65 months 91 months
5 months 7 months
$40/sf $50/sf
$75/month unreserved $150/month reserved
Market lease assumptions
1.3 M SF
$24.95/SF
716,000 SF
18.5%
$29.53/SFamount of existing creative office
space in ATL
average quoted full-service rent for existing Class A traditional office space in ATL
premium in rent that cre-ative office space achieves
over Class A traditional office space in ATL
amount of proposed creative office development in ATL
average quoted full-service rent for existing creative office space in ATL
creative office statistics - metro atlanta
Buckhead Atlanta EFfect
BEFORE RATES
DELTA BEFORE
AFTER RATES
DELTA AFTER
ONE BUCKHEAD $28.50 $40.00
TOWER PLACE 100 $27.50 $31.25
TWO BUCKHEAD $27.50 $38.50
TOWER PLACE 200 $27.00 $33.50
$1.00 $8.75
$0.50 $5.00
Atl tech villageEFfect
BEFORE RATES CHANGE AFTER
RATES
3405 PIEDMONT $19.50 $7.50 $27.00
The Functionof designis letting designfunction.Micha Commeren
“
project team
LINCOLN PROPERTY COMPANY is one of the largest and most respected diversified real estate services firms in the United States and is the only national real estate company to rank concurrently in the Top 10 lists of Management/Ownership of Office, Industrial and Multi-family.
With an international footprint that includes offices in 38 cities across the United States and 6 cities in Europe and South America, Lincoln remains a privately and closely held company. As a matter of corporate intention and philosophy, the company has operated virtually debt-free since the early 1990’s, uniquely positioning itself to provide focus and performance as well as consistency and stability to its clients and employees in the economically challenging times of today.
This corporate philosophy combined with 50 years of global real estate experience and the ability to “think like an owner” is what differentiates Lincoln from other service providers and real estate companies. The company’s history of developing and acquiring assets for its own account – as well as providing a full cadre of services to other owners over the span of the last four decades – has created a culture throughout the firm whereby each employee treats each third party assignment as if it were owned by the company. Consequently, the company’s goal is to hire, train, and retain employees that “take ownership” in each and every assignment.
MEET OUR TEAM
tony bartlettSr Vice President
tbartlett@lpc.com
Michael howellVP of Leasing
mhowell@lpc.com
hunter henritzeVP of Leasing
hhenritze@lpc.com
shane FromanVP of Property Management
sfroman@lpc.com
bob lintaultConstruction Manager
blintault@lpc.com
Jeff ClaytonDirector of Engineering
jclayton@lpc.com
3405 Piedmont Rd NESuite 450
Atlanta, GA 30305404.266.7600
www.lpcsoutheast.com