Main Street South - LoopNet · 2018. 2. 21. · OFFICE INVESTMENT OPPORTUNITY MAIN STREET SOUTH...

Main Street SouthHuntsville, Alabama 35802

I N V E S T M E N T O F F E R I N G

Main Street South is a unique retail/office investment opportunity in the South Huntsville area. Thecenter is highly visible from Memorial Parkway and will offer convenient access to Redstone Arsenalvia the new Boulevard South/Martin Road connector.

Main Street South offers:

Excellent visibility and convenient ingress/egress

Stable tenant base

Value add potential upon completion of Memorial Pkwy traffic improvement project

Multi-use tenant mix

Opportunity for user to own; Atrium building offers up to 20,000 sf with private entrance

Address 7500 Memorial Parkway S, Huntsville, AL 35802Square Footage 87,000+/- SFAcreage +/- 7.8 AcresUtilities AllOccupancy 55% Year Built 1988/1989Zoning Light IndustrialConstruction Brick

Main Street South boasts a diverse mix of tenants including both office and retail users. The 39current tenants range from medical users to professional service providers to restauranteurs.

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The information contained herein was obtained from sourcesbelieved reliable; however, Graham & Company makes noguaranties, warranties or representations as to thecompleteness thereof. The presentation of this property forsale, rent or exchange is submitted subject to errors,omissions, change of price or condition, or withdrawalwithout notice.

MAIN STREET SOUTH

OFFERED EXCLUSIVELY BY:

355 Quality Circle, Suite EHuntsville, AL 35806

T (256) 382.9010

Bart Smith, CCIM, SIOR

Graham & Company – [email protected]

Tyler FanningGraham & Company – Huntsville

[email protected]


THE OPPORTUNITY

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Shoney Drive


OFFERING PRICE

THE OPPORTUNITY

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An offering price of $3,500,000 has been established for this

investment opportunity. Interested parties are encouraged to

submit “all cash” offers on a timely basis. Please see the listing

brochure that follows.

OFFICE INVESTMENT OPPORTUNITYMAIN STREET SOUTH 7500 S. MEMORIAL PARKWAY HUNTSVILLE, AL 35802

355 Quality Circle TEL 256.382.9010 EXCLUSIVE AGENTS

Suite E FAX 256.382.9011 Bart Smith, CCIM, SIOR Tyler Fanning

Huntsville, AL 35806 grahamcompany.com [email protected] [email protected]

INVESTMENT SALE ● $3,500,000

Information deemed reliable, but not guaranteed.

FEATURES

• 87,000+/- SF office/retail development

• Property is 55% occupied

• Located on 7.8+/- Acres

• Access to major traffic thoroughfare,

Memorial Parkway (Hwy 231/431)

• Close proximity to Redstone

• High affluent growth area

• Ample surface parking

• Excellent opportunity for user to

purchase and occupy; 3rd floor of Atrium

building offers up to 20,000 sf with its

own private elevator entrance


PROPERTY DETAILS

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MAIN STREET SOUTH 87,000+/- SF MULTI-TENANT OFFICE & RETAIL CENTER

I N V E S T M E N T O F F E R I N G PAGE 7

TRAFFIC IMPROVEMENTS

MEMORIAL PARKWAY TRAFFIC IMPROVEMENTSThe City of Huntsville has begun construction on a multi-year, $53.9 million project to complete the South Memorial Parkway (AL Hwy 231/431)expressway and frontage roads between Golf Road and Whitesburg Drive in Huntsville, AL. The project is part of ALDOT and City of Huntsville’s5 year, $250 million joint funding agreement.During construction, motorists may experience some temporary lane closures within the 1.5 mile construction zone. However, whenever possible,two lanes will remain open in each direction. Closures generally begin after 9:00am for northbound lanes and end before 3:00pm for southboundlanes.

While Main Street South is no longer accessible via Boulevard South, Memorial Parkway continues to provide convenient ingress/egress. Onceconstruction is complete, the Benaroya Lane Connector will provide convenient access from Main Street South to Martin Road.(See below image)

PROJECT SCHEDULEPhase One: Anticipated Completion Date of December 1, 2017Phase One will provide improvements to Memorial Parkway service roads, add new bridges, and add an elevated intersection on Martin Road.

Phase Two: Anticipated Completion Date of June 1, 2019Phase Two will consist of improvements to Memorial Parkway mainline,the addition of an overpass at Byrd Spring Road, and the addition of anoverpass at Logan Drive/Lily Flagg Road.

Information from City of Huntsville. Information deemed reliable but not guaranteed.


TRAFFIC IMPROVEMENTS

TRAFFIC IMPROVEMENT SITE PLANSThe image to the left represents the entire traffic improvement project, while the above image givesmore detail regarding the proposed Martin Road overpass. The Martin Road overpass project isexpected to be completed by December 1, 2017.

Information from City of Huntsville. Information deemed reliable but not guaranteed.

MAIN STREET SOUTH

MAIN STREET SOUTH


HUNTSVILLE MARKET OVERVIEW

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SUBJECT PROPERTY AERIAL HUNTSVILLE SUBMARKETS


EMPLOYER NO. OF EMPLOYEES

U.S. Army/Redstone Arsenal 31,500

NASA / Marshall Space Flight Center 6,500

Huntsville Hospital 6,341

Huntsville City Schools 3,000

The Boeing Company 2,600

Madison County Schools 2,389

SAIC (Science Applications International Corporation) 2,277

City of Huntsville 2,206

Camber Corporation 2,125

University of Alabama in Huntsville (UAH) 1,660

ADTRAN, Inc. 1,549

Technicolor 1,450

PAR 1,350

Intergraph Corporation 1,325

Madison County Commission 1,242

Alabama A&M University 1,207

Northrop Grumman Corporation 1,200

Verizon Wireless 1,200

Toyota Motor Manufacturing Alabama, Inc. 1,150

Wyle CAS Group 1,085

HUNTSVILLE MARKET OVERVIEW –TOP 20 EMPLOYERS

Source: Chamber of Commerce of Huntsville/Madison County, Alabama.

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HUNTSVILLE, AL – OVERVIEW

Huntsville is centrally located in the northernmost part of Alabama. It is located in Madison County and extends west into neighboringLimestone county. Huntsville is the county seat of Madison County, and the fourth-largest city in Alabama. The current estimatedpopulation at is 186,254. The Huntsville Metropolitan Area's population is currently estimated at 441,086.

John Hunt first settled in the location in 1805. It was named Twickenham after Alexander Pope's English home at the request of LeroyPope. However, the town was renamed "Huntsville" on November 25, 1811 after its first settler. It has grown across nearby hills andalong the Tennessee River, adding textile mills, then munitions factories, to become a major city, including NASA's Marshall Space FlightCenter and the United States Army Aviation and Missile Command nearby at the Redstone Arsenal. The National Trust for HistoricPreservation named Huntsville to its "America's Dozen Distinctive Destinations for 2010" list.

Today, Huntsville, Alabama USA is one of the most recognized cities in the Southeast - consistently named as one of the best places to liveand work by a variety of national publications. The city is regularly named as a premier location for both business and quality of life. In2009, Kiplinger's Personal Finance named Huntsville as America's Best City.

Technology, space, and defense industries have a major presence in Huntsville with the Army's Redstone Arsenal, NASA's Marshall SpaceFlight Center, and Cummings Research Park.

Home to several Fortune 500 companies, Huntsville also offers a broad base of manufacturing, retail and service industries. Residentsdemonstrate a quality of life that is second to none - with a variety of educational, recreational and cultural opportunities.

Huntsville successfully combines the rich heritage of Southern hospitality with innovative high-tech ventures and cultural diversity.

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TRANSPORTATION & INFRASTRUCTURE

ROAD I-565 (East-West; connection to I-65

(North-South) US 72 (East-West) AL 231 (North-South) AL 431 (North-South)

RAIL Norfolk Southern

AIR Huntsville International Airport Two Runways: 12,600 feet and 10,000

feet Non-stop flights to 11 domestic

destinations Non-stop international cargo flights to

Luxembourg, Hong Kong, Mexico City, and Sao Palo

Foreign Trade Zone 83

UTILITIES Electricity/Water/Gas: Huntsville

Utilities Sewer: City of Huntsville Fiber: AT&T, CenturyLink

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Rocket Park of the US Space and Rocket Center

SCIENCE AND RESEARCH

Academia has thrived since the early days of Huntsville thanks to Alabama A&M University, OakwoodUniversity and the University of Alabama in Huntsville’s continued development into premiereresearch facilities.

Expanding further into science, technology and other industries is Cummings Research Park, thesecond largest in the nation. Established in 1962, this impressive consortium of more than 300companies adds a bustling population of engineers, doctors, students and creatives.

The history of Huntsville has seen numerous influxes of new faces from all over the world, whichmakes its history and identity an ever-changing tapestry. From humble beginnings, the “Rocket City”has grown into a future-minded place to live, work, play.

SPACE EXPLORATION

In the middle of the 20th century, Huntsville became a critical support line for the U.S. Army beforehelping to launch the Space Race with the establishment of NASA and the Marshall Space FlightCenter. Space exploration is celebrated across all of Huntsville –known as “Rocket City USA”– but it’sespecially celebrated at Alabama’s most popular attraction, the U.S. Space & Rocket Center.


DEMOGRAPHICS

MAIN STREET SOUTH

1-MILE RADIUS 3-MILE RADIUS 5-MILE RADIUS

2016 POPULATION

Total Population 6,772 38,596 94,342

Male Population 47.9% 48.8% 49.5%

Female Population 52.1% 51.2% 50.5%

Median Age 42.1 44.6 41.1

2016 INCOME

Median HH Income $39,917 $55,590 $52,977

Per Capita Income $32,050 $35,881 $33,327

Average HH Income $61,082 $78,996 $76,421

2016 HOUSEHOLDS

Total Households 3,558 17,573 40,734

Average Household Size 1.89 2.18 2.25

2016 HOUSING

Owner Occupied Housing Units 40.8% 54.3% 53.6%

Renter Occupied Housing Units 44.8% 35.6% 36.2%

Vacant Housing Units 14.4% 10% 10.3%

POPULATION

2010 Population 6,246 36,638 89,458

2016 Population 6,772 38,596 94,342

2021 Population 7,165 40,090 98,546

Source: U.S. Census Bureau, Census 2010 Summary File 1. Esri forecasts for 2016 and 2021.

This confidential investment offering and other offering materials that may be subsequently provided (collectively, the “Offering Materials”) are intended solely for the limited use by a potential purchaser (“Potential Purchaser”) inconsidering whether to purchase 802 Shoney Drive, Huntsville, AL 35801 (the “Property”). The Property is owned by Avadian Credit Union (“Owner”). For purposes of this Agreement, Graham & Company, LLC (“Graham & Company”)is an agent of Owner.

The Offering Materials, which are provided subject to these conditions of offering (the “Conditions of Offering”), contain brief, selected information pertaining to the business and affairs of the Property. It does not, however; purportto be all inclusive or to contain all of the information, which a Potential Purchaser may desire to require. Any party in possession of the Offering Materials is bound by the Conditions of Offering.

The Offering Materials contain certain documents, such as, but not limited to, rent rolls and lease abstracts that are described in summary form. The summaries do not purport to be complete nor necessarily accurate descriptions ofthe full documents involved. The Potential Purchaser must rely solely on its own review of the full documents. All financial and development projections are provided for general reference purposes only in that they are based onassumptions relating to the general economy, competition and other factors beyond the control of the Owner and Graham & Company. Any graphics or drawings included in the Offering Materials are included to assist the reader invisualizing the Property. The Owner and Graham & Company have made no survey of the Property and assume no responsibility in connection with such matters. The Owner and Graham & Company have had neither a legal reviewof title or development rights of the Property nor an engineering review with regard to the environmental, physical and mechanical integrity of the Property and no representation or warranty, express or implied, as to the accuracy orcompleteness of this information, and no liability of any kind whatsoever is assumed by Owner nor Graham & Company with respect thereto.

The Offering Materials relating to a possible sale of the Property (the “Sale Opportunity”) which may be furnished to the Potential Purchaser for the Owner by Graham & Company shall continue to be the property of the Owner andGraham & Company. The Offering Materials will be used by the Potential Purchaser and the Related Parties (as hereinafter defined below) solely for the purpose of evaluating the Sale Opportunity and not for any other purposeunrelated to the Sale Opportunity and may not be copied or duplicated without the Owner’s or Graham & Company’s prior written consent and must be returned to Graham & Company immediately upon requested or when thePotential Purchaser decides not to pursue, or terminates discussions or negotiations with respect to the Sale Opportunity or the Property.

The Potential Purchaser acknowledges that the Sale Opportunity and the Offering Materials are considered confidential and proprietary information of Owner and Graham & Company, and will not disclose the Sale Opportunity,make any Offering Materials available, or disclose any of the contents thereof, to any person without Owner’s or Graham & Company’s prior written consent; provided however, that the Sale Opportunity and the Offering Materialsmay be disclosed to the Potential Purchaser’s partners, employees, legal counsel, advisors, institutional lenders and other capital source(s) (“Related Parties”) as required for an evaluation of the Sale Opportunity and/or the Property,provided such Related Parties are (a) informed by the Potential Purchaser of the confidential nature of the Sale Opportunity and the Offering Materials and these Conditions of Offering and (b) directed by the Potential Purchaser tokeep the Sale Opportunity, the Offering Materials, and related information strictly confidential in accordance with these Conditions of Offering. The Potential Purchaser shall be responsible for any violation of this provision by any ofthe Related Parties.

Potential Purchaser hereby agrees to indemnify Owner and Graham & Company from any loss or damage, which Owner may suffer as a result of Potential Purchaser’s breach of these Conditions of Offering.

Owner expressly reserves the right at Owner’s sole, singular, exclusive and arbitrary discretion to reject any or all proposals or expressions of interest in the Sale Opportunity and to terminate discussions in connection therewith withany party at any time without notice.

The Offering Materials shall not be deemed to represent the state of affairs of the Sale Opportunity or the Property, or constitute an indication that there has been no change in the business or affairs of the Sale Opportunity or theProperty since the date of preparation of this information.

The information provided has been gathered from sources that are deemed reliable, but the Owner and Graham & Company do not warrant or represent that the information is true or correct. You are advised to verify informationindependently.

The Owner reserves the right to make any change, to add, delete, or modify the information or to withdraw the Sale Opportunity from consideration at any time, without notice.

Furthermore, the inclusion or exclusion of information relating to asbestos or any other hazardous, toxic or dangerous chemical item, waste or substance (hereafter collectively referred to as “Waste”) relating to the Property shall inno way be construed as creating any warranties or representations, expressed or implied by the Owner or its agents as to the existence or nonexistence of nature of Waste in, under or on the Property, or to create legal and/oreconomic obligations upon the Owner, lessee and/or other holders of interest in the Property or pare thereof.

Should you require additional information regarding the Sale Opportunity, please contact Graham & Company & Company at the following address:

Graham & Company355 Quality CircleSuite EHuntsville, AL 35806256.382.9010grahamcompany.com

DISCLAIMER



MAIN STREET SOUTH

OFFERED EXCLUSIVELY BY:

355 Quality Circle, Suite EHuntsville, AL 35806

T (256) 382.9010

Bart Smith, CCIM, SIOR

[email protected]

Tyler [email protected]

Main Street South - LoopNet · 2018. 2. 21. · OFFICE INVESTMENT OPPORTUNITY MAIN STREET SOUTH...

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