DILWORTH. latta park. A Rare 1.75-Acre Urban Development Opportunity in Charlotte s Thriving Dilworth Submarket DILWORTH AT LATTA PARK 1

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1 latta park A Rare 1.75-Acre Urban Development Opportunity in Charlotte s Thriving Dilworth Submarket DILWORTH AT LATTA PARK 1

2 ± A C R E HO S P I TA L A ND PA RK A D J A C E N T DE VELOPMENT OPPORTUNIT Y IN C H A R L O T T E S D I LW O R T H N E I G H B O O R H O O D INVESTMENT OPPORTUNITY D I L W O R T L AT TA PA R K HFF is pleased to offer for sale Latta Park, a rare 1.75-acre assemblage within the prestigious Dilworth neighborhood. Situated just minutes from Uptown Charlotte, this infill development opportunity comes with invaluable proximity to major employment hubs including Uptown Charlotte (100,000+ employees) and the adjacent Carolinas Medical Center Campus, walkability to surrounding retail establishments, as well as immediate access to desirable parks, the rail trail, and top-tier schools. Latta Park is well-positioned for high-end residential development in a luxurious submarket known for high barriers to entry, excellent access to employers, and walkability to desirable lifestyle amenities DILWORTH AT LATTA PARK 2

3 THE OFFERING LATTA PARK Address 1400 Kenilworth Ave Acreage (Est. GIS) 1.75 Parcel IDs Current Use Current Income Frontage (Approx.) Zoning Municipality Timing Pricing , , , , , , and Single-Family Residential $180,000/yr 250 Kenilworth Avenue 145 Waverly Avenue R-22 MF (.97 acres) & R-8 (.78 acres) City of Charlotte Available immediately Unpriced LATTA PARK DEMOGRAPHICS RADIUS 1-MILE 3-MILE 5-MILE 2017 Population 13, , ,784 Census Population (2000) 10,243 83, ,546 Historical Population CAGR ( ) 2.3% 4.0% 3.0% Avg Household Income $154,391 $112,392 $91,807 Median Household Income $105,003 $82,682 $69,431 % Household Income over $100, % 36.1% 28.4% Per Capita Income $80,804 $54,606 $40,739 Median Home Value $541,583 $412,432 $322,070 Median Age % Bachelor Degree or Higher 77.7% 56.8% 44.7% Source: Regis DILWORTH AT LATTA PARK 3

4 PROPERTY UNIQUE OPPORTUNITY AT THE CONVERGENCE OF THREE DISTINCT COMMERCIAL CORRIDORS: Nestled between Uptown, Midtown, and South End, Latta Park offers an exceptional development opportunity at the nexus of Charlotte s thriving infill commercial corridors. In addition, Uptown s business center (100,000+ daily employees) has experienced stellar market growth in the past decade with sizable employment expansions, established operational hubs (Duke Energy, Bank of America, Wells Fargo), and double-digit annual residential growth. RARE OFFERING DUE TO HIGH BARRIERS TO ENTRY: Dilworth consistently ranks among Charlotte s finest close-in neighborhoods with its treelined streets, historic architecture, and top-tier schools. As one of Charlotte s original neighborhoods with proximity to Uptown and most desirable addresses, the immediate area continues to experience record-setting land pricing due to scarcity of new sizable development sites. STELLAR WALKABILITY FACTOR: Latta Park enjoys a Very Walkable WalkScore rating of 84 and offers one of the few live-work-play opportunities on the market today in the Dilworth neighborhood. Due to its integrated amenities, Dilworth continues to be one of the most desirable residential neighborhoods in Charlotte as home values have risen nearly 10% over the previous 12 months with an average median list price of $465,000. The adjacent Carolinas Medical Center (1,100 physicians and Charlotte s largest employer), Little Sugar Creek Greenway, Latta Park, and an excellent mixture of bars, restaurants, and retail are just minutes away from this location. DILWORTH AT LATTA PARK 4

5 SOUTH BLVD Publix & Harris Teeter SOUTH BOULEVARD LYNX BLUE LINE 32,000 VPD UPTOWN CHARLOTTE 100,000+ Employees Bank of America, Wells Fargo, Duke Energy, Ally Bank $101,000+ Average Salary 15,000 VPD LATTA PARK 32 acres DILWORTH NEIGHBORHOOD Homes from $500,000-$1.8M 21,000 VPD HARRIS TEETER SOLIS DILWORTH (184 units) Avg. Rent $1,541 LINCOLN DILWORTH (379 Units) Under Construction HARDING PLACE (225 units + 65,000 sq.ft. office) Under Construction EAST BOULEVARD KENILWORTH AVENUE EAST BLVD RETAIL Starbucks Coffee, Bakersfield Taco Bar, Foxcroft Wine Co., Kid Cashew, The Summit Room/Mayobird, Lebowski s Grill, Babalu Tapas and Tacos 10,000 VPD CAMDEN DILWORTH (180 Units) Avg. Rent $1,528 LATTA PARK CAROLINAS MEDICAL CENTER & LEVINE CANCER INSTITUTE BERKSHIRE DILWORTH (296 Units) Avg. Rent $1,758 MOREHEAD STREET RETAIL EAST BOULEVARD A BUSTLING RETAIL AND COMMERCIAL CORRIDOR Serving as a connector between South End and Dilworth, East Boulevard continues to be one of Charlotte s most desirable streets for local businesses and walkable retail. As one of Latta Park s most notable amenities, East Boulevard has flourished as a walkable, eclectic retail corridor that offers new restaurant opportunities such as Kid Cashew and Summit Room and older staples like Lebowski s. East Boulevard has the character of a historic neighborhood retail node as well as a vibrant new hotspot. STREETSCAPE REVITALIZATION AND PEDESTRIAN ACCESS Beloved for its charming bungalows bordered by white picket fences, picturesque Dilworth recently underwent a streetscape revitalization with a focus on slowing down traffic and increasing pedestrian traffic and bike lane access. The various streetscape upgrades have significantly enhanced the pedestrian experience and in turn has driven substantial revitalization of walkable retail lining East Boulevard. DILWORTH AT LATTA PARK 5

6 N O.1 BEST CITY TO WORK FOR A SMALL BUSINESS 2015 N O.1 GROWTH IN NUMBERS OF BUSINESS 2015 N O.2 FASTEST-GROWING BIG CITIES, U.S. CENSUS BUREAU DECEMBER 2014 N O.3 BEST STATE FOR BUSINESS 2015 N O.3 MOST ATTRACTIVE U.S. INVESTMENT MARKET IN 2016 URBAN LAND INSTITUTE NOVEMBER 2015 N O.8 BEST CITIES FOR JOBS 2016 CHARLOTTE: AN EMERGING GATEWAY CITY POPULATION, DEVELOPMENT, ECONOMIC GROWTH PUSH CHARLOTTE TOWARDS GATEWAY STATUS EXCEPTIONAL JOB CREATION SUPPORTS TORRID MILLENNIAL POPULATION GROWTH: Charlotte tops the United Nations population projection in the U.S. between 2010 and 2030, on the heels of robust 3.6% CAGR between 2000 and Additionally, one of the most significant population drivers is Charlotte s Millennial appeal, with a best-in-the-nation 30% millennial growth rate from MULTIFACETED, NATION-LEADING ECONOMIC EXPANSION: Fueled by an extraordinary surge in high-quality employment growth, Charlotte created more than 40,700 (3.7% YOY) jobs in 2016 and over 76,000 in the last two years on the tailwinds of high-impact energy and technology jobs, bank stabilization, and substantial corporate expansion and relocation announcements. LEADING HEADQUARTERS AND REGIONAL HUB DESTINATION: A magnet for corporate operations and home to seven Fortune 500 headquarters, Charlotte continues to enjoy remarkable success in attracting major companies to the market, including recent relocations and expansions by Allstate, MetLife, Sealed Air (all Fortune 500), Dimensional Fund Advisors, and Albemarle Corporation. Three of Charlotte s key employers are Carolinas Health Care, Bank of America and Duke Energy, which are all located minutes from Latta Park. DILWORTH AT LATTA PARK 6

7 LOCATION HIGHLIGHTS DILWORTH EXECUTIVE ENCLAVE: Favored for its historic charm, excellent schools, and unrivaled proximity to Charlotte s employment centers, Dilworth is the neighborhood of choice for many local decision makers. Sustained economic growth has also led to a vibrant residential market with abundant demand for high end homes and luxury rental options. Accordingly, Latta Park is uniquely positioned to capitalize on increased market demand. CMC MAIN CAMPUS: With an annual budget of over $2.4 billion and serving roughly 110,000 patients per year, the Carolinas Medical Center (CMC) Main Campus is the flagship hospital of the Carolinas Healthcare System. The CHS is additionally very distinguished throughout the Southeast as the largest employer (47,000+ employees) in the Charlotte region, as well as the third largest healthcare system in the country. COMPELLING SURROUNDING DEMOGRAPHICS: With an estimated average household income of nearly $155,000 within a one-mile radius of Latta Park, Dilworth continues to attract high incomes to the area, bolstered by its proximity to employment centers, desirable lifestyle amenities, and sought-after schools. DILWORTH AT LATTA PARK 7

8 LATTA PARK INVESTMENT ADVISORS ALLAN LYNCH Senior Director alynch@hfflp.com HUNTER BARRON Senior Director hbarron@hfflp.com JUSTIN GOOD Managing Director jgood@hfflp.com SARAH GODWIN Director sgodwin@hfflp.com ANALYST JOHN MIKELS Real Estate Analyst jmikels@hfflp.com Holliday Fenoglio Fowler, L.P. acting by and through Holliday GP Corp a North Carolina licensed real estate broker ( HFF ) HFF and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 22 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated nationalcapital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com or follow HFF on Twitter at twitter. com/hff. HFF has been engaged by the owner of the property [properties] to market it [them] for sale. Information concerning the property [properties] described herein has been obtained from sources other than HFF, and neither Owner nor HFF, nor their respective equity holders, officers, employees and agents makes any representations or warranties, express or implied, as to the accuracy or completeness of such information. Any and all reference to age, square footage, income, expenses and any other property specific information are approximate. Any opinions, assumptions, or estimates contained herein are projections only and used for illustrative purposes and may be based on assumptions or due diligence criteria different from that used by a purchaser, and HFF, its partners, officers, employees and agents disclaim any liability that may be based upon or related to the information contained herein. Prospective purchasers should conduct their own independent investigation and rely on those results. The information contained herein is subject to change. DILWORTH AT LATTA PARK 8