225 COREY CENTER ATLANTA, GA. Presented by: Tim Huffman National Director, Technology Solutions Group DIR

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1 225 ATLANTA, GA Presented by: Tim Huffman National Director, Technology Solutions Group DIR

2 Table of Contents > EXECUTIVE SUMMARY The Offering & Property Attributes... 3 > THE PROPERTY Regional & Area Maps... 4 Area Overview & Property Aerial... 6 Site Plan... 8 Floor Plan Fiber Map Southern Telecom Fiber Route Map Property Photos Feasibility Study Daily Traffic Counts Line of Sight to Corey Monument > INCENTIVES Local & State Incentives > THE MARKET Atlanta Overview Georgia Data Center Overview Mission Critical Map > TEAM PROFILE Colliers Technology Solutions Group Colliers International Atlanta, Inc., and certain of its subsidiaries, is an independently owned and operated business and a member firm of Colliers International Property Consultants, an affiliation of independent companies. Information contained herein has been obtained from the owner of the property or other sources that we deem reliable. We have no reason to doubt its accuracy, but we do not guarantee it. You should conduct an independent investigation of the property to determine the suitability of the property for your needs. This publication is the copyrighted property of Colliers International and/or its licensor(s). COLLIERS INTERNATIONAL P. 2

3 Executive Summary THE OFFERING This Property was originally built as a Georgia Power steam plant. Today it offers an excellent powered-shell data center opportunity that includes the original steam conduits which run directly into Atlanta s premiere carrier hotels 56 Marietta, 180 Peachtree, 250 Williams and other data center facilities. Southern Telecom and Level3 have existing fiber in the conduit network. Currently the Property utilizes 500kVA of power and it can be increased up to 8MW at 480V or 12MW at 4160V. The ±51 ceiling warehouse area can be converted into two floors of data center space. The warehouse e area combined with other space in the balance of the Building footprint can yield up to 25,000 SF of data center space. PROPERTY ATTRIBUTES BUILDING/SITE: > A former Georgia Power Steam Plan > ±32,190 SF Building > ±3.015 Acres of Land > 10 Secured Fence with Gated Access > ±51 Clear on 13,121 SF Warehouse ±16 Clear on 19,069 SF > Six (6) 16 Drive-in Doors > One (1) Crane > Sprinklered (19,069 SF) > 4 ~6 Precast Concrete Walls > Lighted and Secured On-Site Parking with 116 Spaces with 24/7 Roving Georgia State Patrol > Security Cameras > The Landmark, Corey Tower is Visible to One Millions+ Cars per Day > Two (2) 80 x25 (2,000 SF) Corey Tower Signage Spots (one digital, one painted) > Excellent Access to I-75/85/20 POWER (GEORGIA POWER): > 500kVA Currently Utilized at the Site > Up to 8MW at 480V or 12MW at 4160V Available > Eligible for RTP Ranging as Low as $0.035 to $0.05 kwh (if 250+kVA were consumed per month) FIBER: > Former Steam Conduit Run from the Property to Multiple Carrier Hotels in Downtown Atlanta. Southern Telecom has exsiting fiber in the conduit network. > Excellent Connectivity to Metro Atlanta Data Centers > Carriers in the immediate vincity include Level3, Zayo, Spectrum Business, Windstram, Sunesys, Unite, Crown Castle, CenturyLink, Sago, and Southern Telcom AREA INFORMATION: > Located within the City of Atlanta Opportunity Zone > Incentives available at local and state level for data centers > Metro-Atlanta s highly skilled data center workforce and premier institutions of higher education > Low risk of natural disasters > Hartsfield-Jackson International Airport, one of the world s business Airports Colliers International Atlanta, Inc., and certain of its subsidiaries, is an independently owned and operated business and a member firm of Colliers International Property Consultants, an affiliation of independent companies. Information contained herein has been obtained from the owner of the property or other sources that we deem reliable. We have no reason to doubt its accuracy, but we do not guarantee it. You should conduct an independent investigation of the property to determine the suitability of the property for your needs. This publication is the copyrighted property of Colliers International and/or its licensor(s). COLLIERS INTERNATIONAL P. 3

4 The Property REGIONAL MAP JACKSON CK PO POLK BARROW ROW OW W GWINNETT NN NETT N ETT T DEKALB DE EKA B WALTON LT Hard Labor Creek State Park FULTON F U ON UL N CARROLL MORGAN CLAYTON LAYT AY TO AY AYTON TON N HENRY H N NEWTON W COWETA FAYETTE T TE COLLIERS INTERNATIONAL P. 4

5 nally St SE Hill St SE The Property AREA MAP RIS WN LEGE Y Vine City Nort Castleberry Hill Dome WEST LINE MLK Jr Dr Walker St SW Georgia Intl. Plaza p Spring St SW Forsyth St SW Memorial Dr SW Spring Trinity Ave SW MLK Jr Dr SW Central Ave SW est NW Arena Center The Georgia Pacific Dome/GWCC/ Equitable Centennial Fairlie- ie- Center Philips/CNN Tower Richard B. Russell Building Greyhound Bus Terminal Atlanta Journal- Constitution Bldg. Sam Nunn Atlanta Federal Center MLK Jr. Federal Bldg. Garnett SOUTH LINE Fulton County Gov't. Poplar Five Points Underground Atlanta Fulton County Courthouse City Hall Rialto Center Washington St SW Woodruff Park State Capitol Building Hurt Plaza Apex Museum John Wesley Dobbs Ave Downtowno Auburn Ave NE Edgewood Ave SE Hurt Park GEORGIA STATE UNIVERSITY Georgia State GA. STATE UNIV. Sweet Auburn Curb Market Grady Memorial Hospital Subject Property Decatur St SE EAST LINE Hilliard St SE Selena Butler Park King Memorial Jackson St NE Martin Luther King Jr. Natl. Historic Site Sweet et Auburn Oakland Cemetery Peters St SW Whitehall St SW Rawson- Washington Park Woodward Ave SE Fulton St SW Fulton St Glenwood Ave SE Rosa Burney Park dsor St SW Mechanicsville ill Crumley St SW or St SW itol Ave SW Summerhill hll Grant Park rokee Ave SE Gr Pa McDaniel St SW COLLIERS INTERNATIONAL P. 5

6 AREA OVERVIEW Georgia State University State Capitol MLK Jr. Dr. Memorial Dr. Georgia State Practice Field COLLIERS INTERNATIONAL P. 6

7 PROPERTY AERIAL 2,000 SF Digital Sign Georgia State Practice Field Fiber Conduit CSX Rail COLLIERS INTERNATIONAL P. 7

8 SITE PLAN COLLIERS INTERNATIONAL P. 8

9 SITE PLAN I I I I I I I I I I I I I I I I ±3.015 Acres ±9,490 SF Office ±22,700 SF Warehouse ±32,190 Total SF COLLIERS INTERNATIONAL P. 9

10 FLOORPLAN ±9,490 SF Office ±16 Clear ±13,121 SF Warehouse ±51 Clear ±9,579 SF Warehouse ±16 Clear COLLIERS INTERNATIONAL P. 10

11 FLOORPLAN OFFICE AREA ±9,490 SF Office ±16 Clear COLLIERS INTERNATIONAL P. 11

12 FIBER MAP 250 Williams 180 Peachtree 56 Marietta 345 Courtland COLLIERS INTERNATIONAL P. 12

13 SOUTHERN TELECOM FIBER ROUTE 345 Courtland Level 3 30 Allen Plaza Georgia Power 303 Peachtree Center 250 Williams 250 Williams "INFORUM" 270 Peachtree 260 Peachtree Marquis II Marquis I 230 Peachtree St 180 Peachtree 180 Peachtree - Macys 191 Peachtree St 133 Peachtree Center 133 Peachtree Annex 101 Marietta St 100 Peachtree St Candler Building 70 Courtland St 55 Marietta St 55 Park Place 51 Peachtree Center - AT&T 56 Marietta 56 Marietta St 34 Peachtree St 25 Park Place Park Annex 345 Courtland Fulton County Government Bldg City Hall Building Judicial Building Admin Building State Capital Building Floyd Building COLLIERS INTERNATIONAL P. 13

14 PROPERTY PHOTOS Building Exterior Office Area Entrance COLLIERS INTERNATIONAL P. 14

15 PROPERTY PHOTOS Drive-in Doors Secured Gate COLLIERS INTERNATIONAL P. 15

16 PROPERTY PHOTOS Drive-in Doors Crane in the Loading Area Crane in the Loading Area COLLIERS INTERNATIONAL P. 16

17 PROPERTY PHOTOS ±51 Clear Warehouse Area with Drive-in Doors ±51 Clear Warehouse Area COLLIERS INTERNATIONAL P. 17

18 PROPERTY PHOTOS Private Office Conference Room COLLIERS INTERNATIONAL P. 18

19 FEASIBILITY STUDY PROPOSED DATA CENTER CONVERSION OPTION 1 ADD ONE (1) USABLE FLOOR IN THE ±50 CLEAR WAREHOUSE AREA A floor would be added approximately mid way in the space to accommodate a Data Hall floor. The lower level and the added floor would require circulation spaces, elevators, stairwells, toilet rooms and other basic building and life softy features. The net available Data hall space would be approximately 10,000 SF. There would be added inefficiencies for the needs of cooling units, power units and fire protection systems. SINGLE STORY SPACE The single story spaces will be used mostly for mechanical and electrical equipment as well as offices and a Data Hall suite of approximately 5,000 SF. Comprehensive architectural and engineering plans need to be undertaken to fully realize the layout and available space, however the concepts described herein show a potential of 25,000 SF of Data Hall which at a density of 150 VA/SF and a reliability rating of Tier II/III will yield a potential Data Hall power draw of 3.75 MW. Higher densities are possible but the limits of the facility would cause added building to be built or systems normally installed indoors to be installed exterior in expensive weatherproof enclosures. A detailed feasibility study with a field observation report is available upon request. COLLIERS INTERNATIONAL P. 19

20 FEASIBILITY STUDY PROPOSED DATA CENTER CONVERSION OPTION 2 ADD TWO (2) USABLE FLOORS IN THE ±50 CLEAR WAREHOUSE AREA The second option includes adding two floors within the tall space. This will allow for two more efficient Data Hall floors and a utility distribution level which helps maximize and improve efficiency of the Data Hall floors. Inefficiencies needed for the use of power and cooling equipment and distribution systems can now be somewhat relieved by locating equipment on a utility level between the two Data Hall Floors. We also anticipate the availability of space on the Utility Level for storage, burn in spaces, offices, and meeting rooms. The two added floors would still need space for elevators, circulation, stairwells and life safety. SINGLE STORY SPACE The single story spaces will be used mostly for mechanical and electrical equipment as well as offices and a Data Hall suite of approximately 5,000 SF. Comprehensive architectural and engineering plans need to be undertaken to fully realize the layout and available space, however the concepts described herein show a potential of 25,000 SF of Data Hall which at a density of 150 VA/SF and a reliability rating of Tier II/III will yield a potential Data Hall power draw of 3.75 MW. Higher densities are possible but the limits of the facility would cause added building to be built or systems normally installed indoors to be installed exterior in expensive weatherproof enclosures. A detailed feasibility study with a field observation report is available upon request. COLLIERS INTERNATIONAL P. 20

21 DAILY TRAFFIC COUNTS LINE OF SIGHT TO COREY MONUMENT COLLIERS INTERNATIONAL P. 21

22 Incentives LOCAL AND STATE INCENTIVES CORPORATE NET INCOME TAX Georgia s moderate income tax rate (6%) has not changed since This tax applies only to the portion of income that is earned in Georgia, and is based upon gross receipts in the state. SALES TAX EXEMPTION All spending on qualified computer equipment purchased, or leased for use in a Georgia facility is exempt from sales tax for companies meeting the following conditions: Companies operating under North American Industrial Classification: System code 51121, 51331, 51333, 51334, 51421, 52232, 54133, 54171, 54172, , , , , , , , , or ; > when the sales price of the purchased equipment, and/or the fair market value of the leased equipment exceeds $15 million in a calendar year; and, > qualifying equipment includes any individual computer terminal, or organized assembly of hardware, including central processing units, and related peripheral equipment, and software products including operating systems, library and maintenance routines. For more information and other incentives information, please see Georgia Department of Revenue Rules and Regulations : OPPORTUNITY ZONE The Corey Center is located within the City of Atlanta Opportunity Zone. Businesses creating two or more net jobs in a tax year may be eligible to receive a State tax credit of $3,500 per employee if their businesses are located in eligible zones. > The Opportunity Zone Job Tax Credit s benefits include: > The maximum Job Tax Credit allowed under law $3,500 per job created > The lowest job creation threshold of any job tax credit program 2 jobs > Use of Job Tax Credits against 100 percent of Georgia income tax liability and withholding tax > Provides for businesses of any nature to qualify, not just a defined business enterprise Net new jobs must meet 3 criteria to be eligible for the Job Tax Credit: > Must be permanent full-time jobs working a minimum of 35 hours per week > Must pay in excess of the lowest average wage of any county in the state (approximately $22,000) > Must be offered health insurance upon employment, although the employer is not required to pay for such insurance COLLIERS INTERNATIONAL P. 22

23 Executive The Market Summary ATLANTA OVERVIEW ECONOMIC AND BUSINESS DRIVERS Global air service - World s Busiest Airport Deep talent base Sustained population growth Epicenter of the Southeast economy Central location Mild weather Attractive cost of living & cost of doing business Diverse economy Transportation & distribution center Superior healthcare Top Fortune 500 business city Historically a top leader in job creation Strong research centers at university level POPULATION AND INCOME BENCHMARKS > As the Capital of the South Atlanta has established a balance between growth and quality of life. The Atlanta Metropolitan Statistical Area (MSA) encompasses 28 counties and 140 municipalities covering a total land mass of nearly 8,400 square miles. With a population of over 5.6 million, Atlanta is the 7th largest MSA in the United States. > Population in the Atlanta MSA has increased by 27% since 2000, nearly three times the rate of growth for the United States. Through 2016, the Atlanta MSA is expected to add new residents at a rate of 2.2 percent per annum, a rate that ranks Atlanta as the fastest-growing MSA among the nation s ten largest metropolitan areas over the next five years. A number of factors contribute to Atlanta s strong in-migration growth, including a low cost of living, a mild climate, solid educational system, high quality of life and a positive environment for business and industry. > Atlanta s diverse economic base and positive momentum have enabled the city to lead the nation in job creation, evidenced by its current employment base of over 2.3 million, which is even more impressive when considering that it more than doubled in size by adding over 1.2 million new jobs over the past two decades. Atlanta has grown from a regional powerhouse to become one of the world s top cities for business. Key factors contributing to Atlanta s success is its superior transportation infrastructure that includes the busiest airport in the world, the largest highway system in the South, and extensive freight and passenger rail lines. Atlanta s diverse economy, business friendly environment and positive quality of life will continue to drive in-migration and population growth over the next several decades. Most Populated Metro Areas in 2020 (Projection) (in millions) 1 New York Los Angeles Chicago Dallas Houston ATLANTA Washington DC Philadelphia Phoenix Miami 6.0 Source: U.S. Census Bureau, ProximityOne COLLIERS INTERNATIONAL P. 23

24 The Market ATLANTA S BUSINESS CLIMATE due to the low costs associated with doing business. With the lowest relative business Georgia was named the #1 State for Business Climate by Houston. Large corporations and startups alike are enticed with the city s considerable growth potential. In addition to the The large number of universities in the region has played a pivotal role in building the market s competitive talent base and the city s reputation for strong entrepreneurial spirit. Educational Information vital role in cultivating Atlanta s technology and bioscience industries. Source: NEFFiber.com COLLIERS INTERNATIONAL P. 24

25 Executive Market Overview Summary ATLANTA S TRANSPORTATION > Atlanta s central geographic location, interstate network system, quality of secondary roads, extensive bus and rapid transit system, airports and rail systems are unmatched in the southern region. The city is the most logistically friendly metropolitan area in the Southeast and is a hub for several interstate highways including 1-75 and I-85 (running north-south); I-20 (running east-west); and I-285 (the perimeter bypass that circles the entire city.) The perimeter highway (I-285) circles the city in a 63-mile Loop, and Georgia Highway 400 provides access between I-85, I-285 and the northern suburbs. > Atlanta s Hartsfield-Jackson International Airport continues to be the world s busiest airport, serving 85 to 90 million passengers annually and is expected to reach 100 million passengers by To accommodate this growth and meet the heavy demand, the airport recently added a new fifth runway and is constructing a new international terminal due to increased demand (completion anticipated by April 2012). Hartsfield- Jackson is one of the largest employers in Georgia, employing in excess of 55,000. By 2015, the growth and economic impact of Hartsfield-Jackson is projected to reach over $32 billion annually. > Hartsfield-Jackson is also acclaimed for its cargo operations and the cargo that moves through the airport creates an estimated 255,000 jobs and adds $44.7 billion in business sales to the area s economy. The Airport s convenient location near the three major interstate systems allows cargo delivery trucks to reach more than 80% of the nation s industrial and consumer markets within two delivery days. > Atlanta is one of only ten U.S. cities to offer rapid rail transit from inside its airport terminal. The average travel time from Hartsfield-Jackson Airport by Metro Atlanta Rapid Transit Authority (MARTA) to Downtown is just 15 minutes. With 46 miles of high-speed rail, 38 rail stations and 200 bus routes, MARTA has the capacity to transport nearly one million passengers daily. Its extensive geographic coverage spans nearly 1,600 miles, and bus service from outlying areas provides connections with various MARTA rail stations. > Atlanta has one of the largest industrial markets in the nation, as the city serves as the rail center of the South and is one of the five most important distribution centers in the U.S. CSX Transportation and Norfolk Southern each operate more than 100 freight trains in and out of Atlanta daily. COLLIERS INTERNATIONAL P. 25

26 The Market DATA CENTER OVERVIEW GEORGIA Georgia s deregulated telecommunications industry provides a competitive environment, with access fees that are among the their operations. Telecommunications Infrastructure Atlanta is one of the fastest growing high-tech urban centers in the nation. Projections indicate that within the next three to Population Information Atlanta is Georgia s capital and largest city with a population of more than 5.3 million residents. The city is comprised of 29 Metro Atlanta region is comparable in size to the state of Massachusetts. POPULATION CENTRAL 28,000 ATLANTA 5,457,831 GDP (BILLION) JOB CREATION 1.9% GROWTH RATE ANNUAL NET JOB CREATION 43,900 + MANUFACTURING + FINANCE + + DIGITAL MEDIA +TECHNOLOGY Source: NEFFiber.com COLLIERS INTERNATIONAL P. 26

27 Executive Market Overview Summary MISSION CRITICAL MAP Subject Property COLLIERS INTERNATIONAL P. 27

28 Executive Team Profiles Summary COLLIERS TECHNOLOGY SOLUTIONS GROUP In today s digital world, the data center sits at the core of a company s business operations. Mission-critical facilities are the repository of a company s most vital asset: information. Colliers International s Technology Solutions Group is the trusted advisor that clients rely on for their technology and facilities needs. WHAT WE DO: We bridge the gap between IT and real estate with technology and facilities solutions that enable our clients to accomplish their business objectives. HOW WE DO IT: Tenant Rep. Services > Data Center Outsourcing > Cloud Services / Telecom Services > Strategic Consulting Landlord Rep. Services > Acquisitions / Dispositions > Leasing > Strategic Consulting HOW WE DO IT: > Superior cost structures > Greater contract flexibility > Higher levels of data security and uptime > Data compliance best practices A GLOBAL LEADER Founding member of the World Green Building Council #2 in Top 25 Commercial Real Estate Brands, Member of World Economic Forum Recognized and ranked 10 consecutive years COLLIERS INTERNATIONAL P. 28

29 Executive Summary TIM HUFFMAN DIRECT MOBILE COLLIERS INTERNATIONAL ATLANTA Promenade, Suite Peachtree Street, NE Atlanta, GA MAIN COLLIERS INTERNATIONAL P. 29