Johnson Ferry Landing

Transcription

1 Atlanta Investment Opportunity

2 The Offering Through its exclusive broker CBRE, the owner of 30 prime acres in East Cobb referred to as Johnson Ferry Landing is seeking quality-oriented, well-capitalized developers to submit proposed development plans and purchase price proposals for their property located at Johnson Ferry Road and Shallowford Road. This offering is being made without a stated asking price for the property. Ownership will consider the detail within your offer that displays a clear understanding of the property and its maximum value. A call for offers date will be communicated to the interested parties. Ownership, through CBRE, would like to receive your proposed development plan and offer, which should include a site plan that indicates the configuration of the development you propose to develop; a brief narrative description of the overall development; a preliminary massing study including density and elevations that indicate the quality of what is to be developed; and your estimated land cost allocation. Immediately thereafter, ownership will select a shortlist of developers from those who have submitted a proposed development plan and Letter of Intent to CBRE. Those selected developers will then be invited to meet with ownership for a presentation and discussion of your proposal. A final bid based on that meeting will then be requested for consideration.

3 The Property This is a rare opportunity to purchase multiple acres in East Cobb that ownership has assembled over the last nine years. The East Cobb area sells itself and is perhaps the best collection of neighborhoods, safety, convenience, amenities, schools, churches, parks and government in the Atlanta area. There is a total of approximately 30.3 acres of land assembled. There are a total of 27 parcels in the assemblage and 23 of the parcels include houses. The property frontage on Shallowford Road is comprised of 10 parcels that are zoned LRO and R-20. The frontage along Johnson Ferry Road is comprised of four parcels that are zoned NRC and R-20. Developers should study the survey carefully and know the parcels that are included and currently excluded. The lake was originally eight acres and is now three acres. The dam may be resized and requires inspection to understand the necessary repairs that must be made. The lake edge can be modified and the setbacks reduced with a constructed edge versus a slope approach. All utilities are currently available to the site. There is a 35 main waterline running along Shallowford Road. The property has been primarily used as residential. There are no known environmental issues and there is a recent Phase I ESA that states in the executive summary that there is no additional investigation warranted at this time. There was some pre-development civil work including a survey and preliminary massing plan performed by Centerline Surveying Systems, Inc. both of which are included in the document center. Not Included

4 Johnson Ferry Landing The Location EAST COBB Johnson Ferry Landing is located in the southwest corner of the intersection of Johnson Ferry Road and Shallowford Road. Johnson Ferry Road and Shallowford Road are two of the major transportation arteries in East Cobb. Johnson Ferry Road connects East Cobb to Sandy Springs while Shallowford Road connects East Cobb to Roswell. This location at the confluence of the two main arteries of East Cobb provides swift access east, west and south to all the nearby conveniences. This intersection is also the primary retail center for the immediate area with free standing restaurants, Walmart, Publix and the YMCA directly across the street. This is the most ideal site for senior active residential in all of East Cobb. There are over 63,000 people living within 3 miles of this property. The average household income is $129,897 as compared to the average household income for Metro Atlanta at $54,628. The ratio of owners to renters in the area is 10 to 1. The economic demographics of this area are at the top of suburban North Atlanta. SITE BP YMCA Bank of America Wells Fargo Walmart

5 The Market Johnson Ferry Landing is 30 acres available for redevelopment in the heart of East Cobb. East Cobb is an unincorporated area in Cobb County and it is well known for its beautiful neighborhoods, top performing public schools, low crime, abundant activities for families, and some of the lowest taxes in Atlanta. The area is a soughtafter community in the Atlanta area that currently has few new home opportunities. The population is generally considered to be 169,000 residents although there are no standard boundary lines for the community and no incorporated city. COMMERCIAL DEVELOPMENT Nearby this location on Shallowford is a Publix anchored shopping center. On Johnson Ferry Road is a Kroger anchored shopping center and a Walmart Supercenter. The Northeast Cobb YMCA is across Johnson Ferry Road from the property. PUBLIC SCHOOLS The public high schools serving Johnson Ferry Landing are Lassiter and Pope Cobb s top high schools, nationally recognized for their academic achievements and consistently among the state s highest ranked schools. These high schools are magnets for the high performance students and families looking for a public, academicallychallenging school choice. The middle schools are Simpson and Hightower Trail and the elementary school is Shallowford Falls. PUBLIC PARKS One of the greatest amenities in the East Cobb area is the Chattahoochee River National Recreation Area which is managed by the National Park Service. These parks line the Chattahoochee River along the East Cobb side and are wonderfully preserved areas with bike and walking trails along the river. NOT TO SCALE

6 For more information: Fred Roddy Senior Vice President T fred.roddy@cbre.com 2014 CBRE, Inc. The information contained in this document has been obtained from sources believed reliable. While CBRE, Inc. does not doubt its accuracy, CBRE, Inc. has not verified it and makes no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.