ATLANTA & WEST MIDTOWN MARKET OVERVIEW OVERVIEW OF TRENDS SHAPING THE ATLANTA MARKET 1
TABLE OF CONTENTS I. Atlanta Market Overview I. Population & Demographics II. Market Facts & Trends II. Midtown and West Midtown Market Overview I. Population & Demographics II. Market Facts & Trends III. Star Metals Atlanta 2
ATLANTA MARKET OVERVIEW 3
5.9 MM Current Population 7% Projected population growth over the next 5 years $57,556 Median Household Income 15% Projected increase in Median Household Income over the next 5 years Source: U.S Census Bureau, Esri forecasts for 2016 and 2021 4
POPULATION & DEMOGRAPHIC TRENDS Atlanta ranks 3rd in population growth in the U.S. 1/3 of the growth is attributed to domestic migration. JLL graph 5
POPULATION & DEMOGRAPHIC TRENDS Since 2011, there have been over 413,000 jobs created in the Atlanta Metro Area. 6
POPULATION & DEMOGRAPHIC TRENDS Atlanta is on of US s top relocation cities and has the 3 rd largest concentration of Fortune 500 Companies in the U.S. JLL graph Source: JLL Research Atlanta Q4 2016 7
POPULATION & DEMOGRAPHIC TRENDS JLL graph Source: JLL Research Atlanta Q4 2016 8
POPULATION & DEMOGRAPHIC TRENDS More and more companies continue to relocate to Atlanta thanks to its favorable cost of living, quality of education, tax benefits, and more. Companies currently eyeing Atlanta for their North American Headquarters include; Source: JLL Research Atlanta Q4 2016 9
POPULATION & DEMOGRAPHIC TRENDS Population growth is driving employment growth 10
POPULATION & DEMOGRAPHIC TRENDS Atlanta employment distributed across industries JLL graph 11
Boasting a highly educated population, Atlanta Metro is home to world renown educational institutions with a pipeline for talent of 275,000+ current graduate and undergraduate students across 66 colleges and universities. JLL graph 12
POPULATION & DEMOGRAPHIC TRENDS The percentage of the city s core constituent workforce (those aged 25-64) who have a Bachelor s degree or higher is in excess of 50%. 13
POPULATION & DEMOGRAPHIC TRENDS Atlanta is ranked as one of the top foodie cities in the U.S. 14
POPULATION & DEMOGRAPHIC TRENDS The average household spends over 40% of their total food expenditures on food away from home. This accounts for 5.6% of their total expenditures and accounts for over 8.2 Billion in revenue. 11.0% 2.1% 1.1% 4.4% 5.0% Food at Home 7.5% 5.6% Food Away from Home Housing Household Items & Operations Apparel & Services Travel + Transportation Healthcare 7.7% 31.0% Entertainment Personal Care Education Pensions & Social Security Other 15.1% 3.1% 6.4% 15
MIDTOWN & WEST MIDTOWN MARKET OVERVIEW Premier business location, center of innovation and talent and exceptional urban experience 16
MIDTOWN ATLANTA Midtown and West-midtown are a commercial and cultural hub located at the center of the Atlanta Metro region. 17
MIDTOWN ATLANTA The Midtown and West Midtown caters to Millennials (who are the largest segment of today s workforce) live/work/play preferences with high-end apartments, an endless supply of food and beverage offerings, and ample entertainment all within walking distance of public transportation. 18
POPULATION & DEMOGRAPHIC TRENDS $87B Annual Economic Impact 81,000+ Daytime Workers 28% Increase in new jobs forecasted over the next 10 years $61,000 Median Household Income with projected 13% increase in the next 5 years Today s young talent is much more concerned with a city s lifestyle offerings than its job market. This shift in priorities has forced companies to follow the talent, investing millions in a new generation of office development and expansion in the country s leading and secondary markets. Today, Midtown is one of Atlanta's major employment centers with over 58% of the city s jobs. 19
POPULATION & DEMOGRAPHIC TRENDS More than 13,000 technology companies calling Atlanta home with a large majority of them flocking to Midtown. Source: JLL Research Atlanta Q4 2016 20
Recent Leases Signed in the Area POPULATION & DEMOGRAPHIC TRENDS RSF: 67,960 RSF: 41,231 RSF: 62,467 RSF: 100,000 RSF: 240,500 RSF: 34,078 RSF: 46,000 21
6.1M+ People visit Midtown each year Art & Cultural Institutions Include: Woodruf Arts Centre High museum of Art Atlanta Symphony Orchestra Alliance Theatre The Fox Theatre SCAD Show Theatre Museum of Design Bremen museum Center Stage The Centre for Puppetry Arts 3000+ events take place in Midtown each year 22
4,000+ Rooms in a variety of luxury, boutique and historic hotels 23
Located in the West Midtown District, Georgia Institute of Technology Campus, and its 1.4 million square foot Technology Square, leverages resources such as research, education, hospitality and retail for collaboration with Atlanta's growing tech companies. 24
GEORGIA INSTITUTE OF TECHNOLOGY #1 FOR WOMEN ENGINEERS AWARDS MORE ENGINEERING DEGREES TO WOMEN THAN ANY OTHER SCHOOL 25
Midtown is one of Atlanta's most coveted residential markets offering big city life with a neighborhood feel. Resident population is growing 5 times the city rate with 68% of the residents holding graduate degree or higher. 26
300,000+ Housing choices within a 3 mile radius of Midtown. 8,000+ Residential units are currently under construction within a 1.2 mile radius 27
the hottest neighborhood in... metro Atlanta, with easy access to top dining and retail, as well as live music venues. Spanning from the southern tip of Howell Mill Road to 17th Street West Midtown is centrally located minutes from downtown, Buckhead, and all of Atlanta s major highways and interstates, as well as Georgia Tech. 28
Once largely industrial, West Midtown is now one of the most vibrant communities in Atlanta with a selection of urban lofts, art galleries, live music venues, retail shops, restaurants and modern office space. 29
RETAIL MARKET FACTS & TRENDS 30
RETAIL MARKET FACTS & TRENDS 31
RETAIL MARKET FACTS & TRENDS New restaurant concepts join a growing entertainment district in Atlanta s Westside that includes Top Golf Midtown, Bacchanalia restaurant and breweries including Monday Night, Scofflaw, Second Self and Red Brick. Holler & Dash Biscuit House, a fresh new concept by Cracker Barrel Old Country Store Inc. debuts in West Midtown Atlanta as it targets the millennial consumer. After participating in Atlanta's Food & Wine Festival for the past 5 years, Florida based 4 Rivers Smokehouse opens its first Georgia location in West Midtown Atlanta. Brewed to Serve Restaurant Group, Inc. will be opening its 4th concept, The Bold Monk, a brewery, restaurant and beer garden to be located in a 12,000 square foot space in Third & Urban s Complex West Midtown project. 32
Retailers in Midtown and West Midtown account for over $540M+ Annual Sales 33
STAR METALS ATLANTA / OFFICES / / RESIDENCES / 185,000 RSF C L A S S A O F F I C E 46,000 RSF P R I M E R E TA I L 409 UNIT L U X U R Y R E S I D E N C E S STAR METALS ATLANTA has been designed from the ground up to meet the needs and demands of today s creative class, by creating a connected lifestyle that the smart and tech-savvy enjoy. Inspired by neighbors like Georgia Institute of Technology and Internet icons like Google and Facebook, our cutting-edge technology permeates every aspect of our development. 34
STAR METALS ATLANTA 35
STAR METALS OFFICES RETAIL 36
STAR METALS OFFICES RETAIL 37
STAR METALS OFFICES ROOFTOP RESTAURANT/TERRACE 38
STAR METALS RESIDENCES RETAIL 39
STAR METALS RESIDENCES RETAIL 40
THANK YOU Thad Adams Sr. Vice President p. (305) 476-2532 tadams@allenmorris.com Natalia East Associate, Brokerage Services p. (305) 476-2613 natalia@allenmorris.com The Allen Morris Licensed Broker and Coldwell Banker Advisors obtained this information contained within sources we believe to be reliable. However we have not verified its accuracy and make no guarantee, warranty or representation about it, It is submitted subject to the possibility of errors, omissions, change of price, rental and other conditions, prior sale, lease or financing or withdrawal without notice. We include projections, assumptions or estimates for example only, an they may not represent current or future performance of property. You and your tax advisors should conduct your own investigation of the property and transaction. 41