Custom office space in a live-work-play development

Transcription

1 Custom office space in a live-work-play development P.O. Box Raleigh, NC (919) (919) fx The information contained herein is accurate to the best of Lundy s knowledge and is subject to change without notice.

2 The Lundy Group, Inc

3 CASTALIA 1st FLOOR PLAN OFFICE AREA Not to Scale LEASED Morgan Creek 3,800± RSF LEASED Meadowmont Realty LEASED Stifel Nicolaus LEASED UBS 2,460± RSF Gabe Guillois P.O. Box Raleigh, NC

4 THE LUNDY GROUP, INC. P.O. Box Raleigh, North Carolina / FAX 919/ CASTALIA AT MEADOWMONT OFFICE LEASING INFORMATION Location Type Rates Upfitting Schedule Castalia First floor of the Castalia Project located in Meadowmont at 301 West Barbee Chapel Road, Chapel Hill, North Carolina. 6,300± rentable square feet of space for office and general commercial leasing. The space can be subdivided as low as 800 rentable square feet. $30.00/rsf full service rate - prior to construction $ 7.50/rsf Operating Expense Allowance $22.50/rsf Net³ rents $30.00 per rentable square foot allowance outside of the shell building. This upfitting allowance is intended to upfit a standard office at current quality standards. Expected occupancy would be 12 weeks from a signed lease. A three-story mixed-use office and residential project located on a prominent site just off NC 54 at W. Barbee Chapel Road in Meadowmont. The entire building is approximately 72,500 square feet. Featuring stateof-the-art finishes and appearances, the project is of very high quality. Office The first and second floors are for office use with approximately 24,500 square feet per floor. The building is designed to have ample glass with high quality interior finishes consistent with Class A offices found in this market and other top tier cities. Residential The third floor is divided into five residential units of between 2,000 and 7,000 square feet in gross area. Each unit has a balcony area overlooking the Meadowmont development. Access is by secure elevator or stairs. Covered, protected parking is reserved for use by residents. THE LUNDY GROUP, INC.

5 Office Leasing Information Page -2- Location Image Owner Architect Developer Schedule The location, with direct visibility to NC 54, the major gateway into Chapel Hill, is the most prominent site in Meadowmont. The architecture was designed to be consistent with other projects in Meadowmont, while creating a signature look. The location is within walking distance of retail, restaurant, shopping and fitness facilities. The site is 2.2 miles west of I-40 and within eight miles of the Raleigh Durham Airport. The image sought in the design is one of lasting quality and permanence. The image is being driven by the need to have clients, customers, employees and residents feel the confidence they share in their business with tenants. The use of materials and designs in the common areas consistent with Class A projects in other cities is intended to convey this without opulence. Castalia Group is a private entity led by Dr. Michael Rosenberg, a longtime resident of Chapel Hill. The architect is Jenkins Peer Architects of Charlotte. Joddy Peer, a Fellow of the American Institute of Architects and a graduate of the Harvard School of Design, is the principal designer. His awards are many and his concern for detail and quality is evident in his many other projects throughout the Triangle and North Carolina. Jenkins Peer has been active in Chapel Hill for over 20 years. The Lundy Group, Inc. has developed over one million square feet during its 20-year career in the Triangle area. Jim Baker, the principal involved in the Castalia project, has worked with Dr. Rosenberg for over 14 years. Jim and Joddy have developed multiple projects that won many awards including the prestigious American Institute of Architects Excellence in Architecture. The first residents occupied in early December 2008, and the first office tenant occupied at the end of December THE LUNDY GROUP, INC.

6 Office Leasing Information Page -3- Rents Base Rent The office rents are divided into two parts, the Net or Base Rent and the Operating Expenses. The Base Rent is the Net³ rent used to fund the cost of the project and the upfitting. A commitment now based on the above costs will result in a base rent of $22.50 per square foot. This rent is intended to escalate each year based on a set or fixed increase. Office Lease Operating Expenses These are the expenses associated with the day-to-day operation of the project. These are intended to be based on actual costs. At the end of the first year the expenses will be adjusted to the actual costs incurred. There is no automatic increase or escalation for operating expenses. Expenses will be increased only to the extent that the actual costs increase. The initial year s expenses are intended to be budgeted as shown below. Please note that the office operations will be separated from the residential operations since their needs are different. The residential portion will be budgeted, billed and managed separately from the office portion. The initial breakdown of the office operating expenses is: Real Estate Taxes & Insurance $2.63 Utilities (Elec. Water/Sewer) $1.63 Janitorial Services $ other management items $2.18 Total $7.50/rentable sq.ft. THE LUNDY GROUP, INC.

7 Office Leasing Information Page -4- Upfitting The upfitting budgeted in the project is approximately $30.00 per rentable square foot of space leased. This amount is to include the design, permitting and construction. This can be used as mutually agreeable providing quality standards are upheld. If over-standard upfitting is appropriate, some additional costs could be amortized as mutually agreeable over the initial term of the lease. Condominium Sales We are marketing the condominium units with what we describe as a completed unit, which includes basic items such as plumbing, security systems and other construction items. The upfitting would be limited to the interior walls, finishes and appliances. We are offering to provide turn key construction for a tenant with the upfitting to be included at our cost. First Come-First Served The project is actively marketing its space for lease and the residential units for sale. The practice of the project is to deal on a first come-first served basis with a signed commitment for space. Absent of a signed agreement, space is being actively marketed to other prospects. Contact For more information, please contact Gabriel Guillois at: or toll free gguillois@lundygroup.com fax THE LUNDY GROUP, INC.

8 Unit 335 The Lundy Group, Inc

9 THE LUNDY GROUP, INC. P.O. Box Raleigh, North Carolina / FAX 919/ CASTALIA AT MEADOWMONT RESIDENTIAL CONDOMINIUM GENERAL INFORMATION As of June 2010 Location Condos Third floor of the Castalia Project located in Meadowmont at 301 West Barbee Chapel Road, Chapel Hill, North Carolina. Up to five (5) luxury condominium units ranging in size and configuration. Prior to shell building completion, units can be designed to suit individual owners. With Unit Suite # Interior (SF) Balcony (SF) Pre-Constr. Price* Unit (331) 2,840 3,199 $1,550,000 sold Unit (333) 2,114 2,549 $1,100,000 sold Unit (335) 3,108 3,683 $ 1,510,000 Unit (339) 2,125 2,560 $1,100,000 sold Unit (341) 2,537 2,896 $1,400,000 sold Unit (343) 2,072 2,270 $1,100,000 sold Unit (345) 3,142 3,516 $1,600,000 sold Unit (347) 1,963 2,077 $ 950,000 sold * Pre-Construction pricing is now available and is subject to change based on any changes in the cost of construction, design, municipal or permitting requirements or other aspects. Interior Sale Price Interior layouts can be designed to suit individual owners. Our designers will work with the owner to customize each layout and desired level of finishes. It is the preference to design and price the finishes for each condo for the buyer. The sales price is presented as an estimate and will vary based on the exact design and finishes selected by the buyer. THE LUNDY GROUP

10 Location Adjacent to Meadowmont Natural Area Beautifully landscaped Walking path to Meadowmont Village - cafes, shops, and much more Building Distinctive modern exterior styling Steel and concrete construction utilizing high quality commercial construction techniques for building integrity and sound insulation Stucco and glass exterior A large impressive entry lobby with fine details Smoke and sprinkler protection system Secured access system with security cameras Two high-speed elevators Professional property management to care for the building and its operational needs such as common area maintenance and service calls Kitchen KitchenAid Stainless Steel Appliances Granite countertops - Corian or Gibralter alternate Stainless steel sink with disposal Merrillat Masterpiece Series Cabinets Wine cooler All amenities optional Bathrooms Granite countertops - Corian or Gibralter alternate Ceramic tiles - allowance Kohler faucets and fixtures All amenities optional Bedrooms Walk-in closet with built-in storage system Flooring Pre-finished hardwood floors 36-oz. cut pile loop carpet All amenities optional All amenities optional Parking Secured, covered parking 24-hour video surveillance 9 Exclusive Residential Units Self-contained heating and cooling HVAC systems for each unit Sound batting construction between units All units wired for cable television, high-speed internet access and telephone Walk-out balconies for all units Washer, dryer, gas and water/ ice maker connections Ceiling heights: 9 6 or higher Trash and recycling on floor Recessed incandescent lights

11 Aerial Views April 2008 The Lundy Group, Inc

12 February 2009 The Lundy Group, Inc

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