US GOVERNMENT LEASED OFFICE

Transcription

1 Investment Property Offering $2,295,000 US GOVERNMENT LEASED OFFICE 3210 Highway 15 North, Laurel, MS Presented By: Michael Kuras 1100 Johnson Ferry Road, NE Suite 588 Atlanta, GA (770) Matthew Levin, CCIM 1100 Johnson Ferry Road, NE Suite 588 Atlanta, GA (770) Offering Highlights Single tenant 100% leased to Social Security Admin New 15 year lease-2011 construction 9.1% 1st year cap rate and 8.5% average cap rate Sold individually or part of a 9 bldg. portfolio 03/10/2011 All Sperry Van Ness Offices Independently Owned and Operated.

2 All materials and information received or derived from Sperry Van Ness / Interstate Auction Management (John Johnson)(hereinafter collectively Sperry Van Ness ), its directors, officers, agents, advisors, affiliates and/or any third party sources are provided without representation or warranty by Sperry Van Ness its directors, officers, agents, advisors, or affiliates as to completeness, veracity, or accuracy, condition of the property, compliance or lack of compliance with applicable governmental requirements, developability or suitability, financial performance of the property, projected financial performance of the property for any party s intended use or any and all other matters. Neither Sperry Van Ness its directors, officers, agents, advisors, or affiliates makes any representation or warranty, express or implied, as to accuracy or completeness of the any materials or information provided, derived, or received. Materials and information from any source, whether written or verbal, that may be furnished for review are not a substitute for a party s active conduct of its own due diligence to determine these and other matters of significance to such party. Sperry Van Ness will not investigate or verify any such matters or conduct due diligence for a party unless otherwise agreed in writing. EACH PARTY SHALL CONDUCT ITS OWN INDEPENDENT INVESTIGATION AND DUE DILIGENCE. Any party contemplating or under contract or in escrow for a transaction is urged to verify all information and to conduct their own inspections and investigations including through appropriate third party independent professionals selected by such party. All financial data should be verified by the party including by obtaining and reading applicable documents and reports and consulting appropriate independent professionals. Sperry Van Ness makes no warranties and/or representations regarding the veracity, completeness, or relevance of any financial data or assumptions. Sperry Van Ness does not serve as a financial advisor to any party regarding any proposed transaction. All data and assumptions regarding financial performance, including that used for financial modeling purposes, may differ from actual data or performance. Any estimates of market rents and/or projected rents that may be provided to a party do not necessarily mean that rents can be established at or increased to that level. Parties must evaluate any applicable contractual and governmental limitations as well as market conditions, vacancy factors and other issues in order to determine rents from or for the property. Legal questions should be discussed by the party with an attorney. Tax questions should be discussed by the party with a certified public accountant or tax attorney. Title questions should be discussed by the party with a title officer or attorney. Questions regarding the condition of the property and whether the property complies with applicable governmental requirements should be discussed by the party with appropriate engineers, architects, contractors, other consultants and governmental agencies. All properties and services are marketed by Sperry Van Ness in compliance with all applicable fair housing and equal opportunity laws. Sperry Van Ness / Interstate Auction Management (John Johnson) is independently owned and operated.

3 Table of Contents 1 Executive Summary 2 Financial Analysis 3 Additional Information 4 Advisor Profile The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.

4 US GOVERNMENT LEASED OFFICE Executive Summary List Price $2,295, Price Per Sq.Ft. $ NOI $208,915 CAP 9.10 % Building Sq.Ft. 8,876 Rentable Sq.Ft. 8,876 Land Acres 1.30 Load Factor 3210 Highway 15 North, Laurel, MS HIGHLIGHTS Single tenant 100% leased to Social Security Admin New 15 year lease-2011 construction 9.1% 1st year cap rate and 8.5% average cap rate Sold individually or part of an 9 bldg. portfolio Cross Street Bush Dairy Road Tax Parcel No. Market Mississippi Sub Market Laurel Year Built 2011 Building Class B Location Class B Zoning Type Commercial Mixed-Use No No. of Buildings 1 No. of Stories 1 No. of Tenants 1 No. of Parking Spaces 44 HVAC Yes Elevators No Occupancy 100 % PROPERTY DESCRIPTION Area Laurel, Mississippi is located in the southeastern portion of the state, 30 miles north of the Hattiesburg-Laurel Regional Airport, with daily flights to Memphis, Tennessee for national connections. The city population is 24,800 and Jones County s population is 65,000. Laurel's Central Historic district is considered Mississippi's best example of the town planning idea popularized during the City Beautiful Movement of the early 20th century. This living historical district is the state's finest ensemble of early 20th century architectural styles. Today, city planners and developers have adopted many of these earlier conceived ideas. Property 2011 construction, this build to suit office building serves as a Social Security Administration field office and is leased to the General Services Administration which is funded by the United States government. The pricing takes into account a rent reduction in the final five years of the 15 year lease term due to the tenant paying off the amortized tenant improvement allowance. The first year cap rate is 9.1% and the overall average cap rate is 8.5%. This investment is available for sale individually or as part of a 9 government building portfolio located in the Southeast. Exclusively Listed By: Michael Kuras Matthew Levin, CCIM (770) kurasm@svn.com (770) levinm@svn.com 03/10/2011

5 www. svn. com Location Map All Sperry Van Ness Offices Independently Owned and Operated. The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.

6 www. svn. com Regional Map All Sperry Van Ness Offices Independently Owned and Operated. The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.

7 All Sperry Van Ness Offices Independently Owned and Operated. 2. Financial Analysis

8 US GOVERNMENT LEASED OFFICE 3210 Highway 15 North Laurel, MS Investment Information Listing Price $2,295,000 Pro Forma 2011 CAP 9.10 % CAP Price Per S.F. $ Expenses Per S.F. $5.37 Loan Description Building S.F. 8,876 Rentable S.F. 8,876 No. of Parking Spaces 44 Land Acres 1.30 Loan Amount Down Payment Estimated Annualized Operating Data Pro Forma 2011 Scheduled Income $256,605 Less Vacancy $0 Gross Operating Income $256,605 Less Expenses $47,690 Net Operating Income $208,915 Less Loan Payment $0 Pre-Tax Cash Flow $208,915 Cash on Cash Return Estimated Annualized Expenses Highlights Pro Forma 2011 Projected Taxes $6,500 Insurance $2,660 Janitorial $13,300 Landscaping $4,800 Maintenance $2,200 Utilities $17,750 Pest Control $480 Total Expenses $47,690 Expenses Per S.F. $5.37 Single tenant 100% leased to Social Security Administration New 15 year lease-2011 construction 9.1% 1st year cap rate and 8.5% average cap rate Sold individually or part of a 9 bldg. portfolio The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.

9 Profit and Loss Projections Social Security Administration-Laurel, MS Proforma Proforma Proforma Proforma Proforma INCOME Rent $219,721 $24.75 $219,721 $219,721 $219,721 $219,721 Amortized Tenant Allowance $36,884 $4.16 $36,884 $36,884 $36,884 $36,884 Expense Recovery $0 $0.00 $0 $0 $0 $0 Property Tax Reimbursement $0 $0.00 $163 $329 $500 $675 Total Income $256,605 $28.91 $256,768 $256,934 $257,105 $257,280 EXPENSES Taxes $6,500 $0.73 $6,663 $6,829 $7,000 $7,175 Insurance $2,660 $0.30 $2,727 $2,795 $2,865 $2,936 Janitorial $13,300 $1.50 $13,633 $13,973 $14,323 $14,681 Landscaping $4,800 $0.54 $4,920 $5,043 $5,169 $5,298 Repairs & Maintenance $2,200 $0.25 $2,255 $2,311 $2,369 $2,428 Utilities & Trash $17,750 $2.00 $18,194 $18,649 $19,115 $19,593 Pest Control $480 $0.05 $492 $504 $517 $530 Total Expenses $47,690 $5.37 $48,882 $50,104 $51,357 $52,641 Total Net Income $208,915 $23.54 $207,885 $206,830 $205,748 $204,639 Average Annual Rent (from 2011 on) $252,418 Average NOI (from 2011 on) $195,407 Purchase Price at 9% Cap Rate on Avg NOI $2,295,000 Cap Rate on First Year Proforma NOI (2011) 9.10% Cap Rate on Average NOI (from 2011 on) 8.51% The lease was originated with a fifteen year term on a full service basis. During the first ten years, the tenant pays base rent plus an amortized tenant allowance. After the first ten years, only base rent plus reimbursable expenses are paid. There are no annual rent escalations. NOTES 7,719 USF 8,876 RSF $256,605 Annual rent per lease yrs 1-10 $229,977 Annual rent per lease yrs Annual expense recovery (not estimated) $6,500 Estimated property tax expense stop (reimbursement above this amount) 2.5% Estimated annual expense increases The owner is entitled to increases in operating expenses over a base year cost, calculated using a CPI formula. The owner is also entitled to all increases in property taxes over a base year cost. There are no renewal options. According to the GSA s last report (FY 2008), 79% of the 2,110 expiring leases were renewed/extended. Usually the renewal is for a five year term. After the first ten years, the tenant has the right to terminate the lease with 60 days notice. The GSA reported during fiscal year 2008 only 1.6% of the 6,358 total leases were terminated before the lease expired. The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.

10 Profit and Loss Projections Social Security Administration-Laurel, MS Proforma Proforma Proforma Proforma Proforma INCOME Rent $219,721 $24.75 $219,721 $219,721 $219,721 $219,721 Amortized Tenant Allowance $36,884 $4.16 $36,884 $36,884 $36,884 $36,884 Expense Recovery $0 $0.00 $0 $0 $0 $0 Property Tax Reimbursement $0 $0.00 $163 $329 $500 $675 Total Income $256,605 $28.91 $256,768 $256,934 $257,105 $257,280 EXPENSES Taxes $6,500 $0.73 $6,663 $6,829 $7,000 $7,175 Insurance $2,660 $0.30 $2,727 $2,795 $2,865 $2,936 Janitorial $13,300 $1.50 $13,633 $13,973 $14,323 $14,681 Landscaping $4,800 $0.54 $4,920 $5,043 $5,169 $5,298 Repairs & Maintenance $2,200 $0.25 $2,255 $2,311 $2,369 $2,428 Utilities & Trash $17,750 $2.00 $18,194 $18,649 $19,115 $19,593 Pest Control $480 $0.05 $492 $504 $517 $530 Total Expenses $47,690 $5.37 $48,882 $50,104 $51,357 $52,641 Total Net Income $208,915 $23.54 $207,885 $206,830 $205,748 $204,639 Average Annual Rent (from 2011 on) $252,418 Average NOI (from 2011 on) $195,407 Purchase Price at 9% Cap Rate on Avg NOI $2,295,000 Cap Rate on First Year Proforma NOI (2011) 9.10% Cap Rate on Average NOI (from 2011 on) 8.51% The lease was originated with a fifteen year term on a full service basis. During the first ten years, the tenant pays base rent plus an amortized tenant allowance. After the first ten years, only base rent plus reimbursable expenses are paid. There are no annual rent escalations. NOTES 7,719 USF 8,876 RSF $256,605 Annual rent per lease yrs 1-10 $229,977 Annual rent per lease yrs Annual expense recovery (not estimated) $6,500 Estimated property tax expense stop (reimbursement above this amount) 2.5% Estimated annual expense increases The owner is entitled to increases in operating expenses over a base year cost, calculated using a CPI formula. The owner is also entitled to all increases in property taxes over a base year cost. There are no renewal options. According to the GSA s last report (FY 2008), 79% of the 2,110 expiring leases were renewed/extended. Usually the renewal is for a five year term. After the first ten years, the tenant has the right to terminate the lease with 60 days notice. The GSA reported during fiscal year 2008 only 1.6% of the 6,358 total leases were terminated before the lease expired. The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.

11 Profit and Loss Projections Social Security Administration-Laurel, MS Proforma Proforma Proforma Proforma Proforma INCOME Rent $229,977 $229,977 $229,977 $229,977 $229,977 Amortized Tenant Allowance $36,884 $36,884 $36,884 $36,884 $36,884 Expense Recovery $0 $0 $0 $0 $0 Property Tax Reimbursement $854 $1,038 $1,226 $1,420 $1,618 Total Income $267,716 $267,899 $268,088 $268,281 $268,479 EXPENSES Taxes $7,354 $7,538 $7,726 $7,920 $8,118 Insurance $3,010 $3,085 $3,162 $3,241 $3,322 Janitorial $15,048 $15,424 $15,810 $16,205 $16,610 Landscaping $5,431 $5,567 $5,706 $5,848 $5,995 Repairs & Maintenance $2,489 $2,551 $2,615 $2,680 $2,747 Utilities & Trash $20,082 $20,585 $21,099 $21,627 $22,167 Pest Control $543 $557 $571 $585 $599 Total Expenses $53,957 $55,306 $56,688 $58,106 $59,558 Total Net Income $213,759 $212,594 $211,399 $210,175 $208,921 Average Annual Rent (from 2011 on) $252,418 Average NOI (from 2011 on) $195,407 Purchase Price at 9% Cap Rate on Avg NOI $2,295,000 Cap Rate on First Year Proforma NOI (2011) 9.10% Cap Rate on Average NOI (from 2011 on) 8.51% The lease was originated with a fifteen year term on a full service basis. During the first ten years, the tenant pays base rent plus an amortized tenant allowance. After the first ten years, only base rent plus reimbursable expenses are paid. There are no annual rent escalations. NOTES 7,719 USF 8,876 RSF $256,605 Annual rent per lease yrs 1-10 $229,977 Annual rent per lease yrs Annual expense recovery (not estimated) $6,500 Estimated property tax expense stop (reimbursement above this amount) 2.5% Estimated annual expense increases The owner is entitled to increases in operating expenses over a base year cost, calculated using a CPI formula. The owner is also entitled to all increases in property taxes over a base year cost. There are no renewal options. According to the GSA s last report (FY 2008), 79% of the 2,110 expiring leases were renewed/extended. Usually the renewal is for a five year term. After the first ten years, the tenant has the right to terminate the lease with 60 days notice. The GSA reported during fiscal year 2008 only 1.6% of the 6,358 total leases were terminated before the lease expired. The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.

12 Profit and Loss Projections Social Security Administration-Laurel, MS Proforma Proforma Proforma Proforma Proforma INCOME Rent $229,977 $229,977 $229,977 $229,977 $229,977 Amortized Tenant Allowance Expense Recovery $0 $0 $0 $0 $0 Property Tax Reimbursement $1,821 $2,029 $2,242 $2,460 $2,684 Total Income $231,798 $232,006 $232,219 $232,437 $232,661 EXPENSES Taxes $8,321 $8,529 $8,742 $8,960 $9,184 Insurance $3,405 $3,490 $3,577 $3,667 $3,759 Janitorial $17,025 $17,451 $17,887 $18,334 $18,793 Landscaping $6,144 $6,298 $6,455 $6,617 $6,782 Repairs & Maintenance $2,816 $2,887 $2,959 $3,033 $3,109 Utilities & Trash $22,722 $23,290 $23,872 $24,469 $25,080 Pest Control $614 $630 $646 $662 $678 Total Expenses $61,047 $62,573 $64,138 $65,741 $67,385 Total Net Income $170,750 $169,432 $168,081 $166,696 $165,277 Average Annual Rent (from 2011 on) $252,418 Average NOI (from 2011 on) $195,407 Purchase Price at 9% Cap Rate on Avg NOI $2,295,000 Cap Rate on First Year Proforma NOI (2011) 9.10% Cap Rate on Average NOI (from 2011 on) 8.51% The lease was originated with a fifteen year term on a full service basis. During the first ten years, the tenant pays base rent plus an amortized tenant allowance. After the first ten years, only base rent plus reimbursable expenses are paid. There are no annual rent escalations. NOTES 7,719 USF 8,876 RSF $256,605 Annual rent per lease yrs 1-10 $229,977 Annual rent per lease yrs Annual expense recovery (not estimated) $6,500 Estimated property tax expense stop (reimbursement above this amount) 2.5% Estimated annual expense increases The owner is entitled to increases in operating expenses over a base year cost, calculated using a CPI formula. The owner is also entitled to all increases in property taxes over a base year cost. There are no renewal options. According to the GSA s last report (FY 2008), 79% of the 2,110 expiring leases were renewed/extended. Usually the renewal is for a five year term. After the first ten years, the tenant has the right to terminate the lease with 60 days notice. The GSA reported during fiscal year 2008 only 1.6% of the 6,358 total leases were terminated before the lease expired. The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.

13 www. svn. com Rent Roll Summary Space Number Tenant Name Start Date End Date Occupied S.F. 1 GSA/Social Security Admin. Vacant S.F. Annual Rent S.F. Occupied Rent Vacant Rent % of Total Escalations / Options / Comments 1/21/2011 1/20/2026 8,876 $28.91 $256,605 $ % Yrs $256, Yrs $229, Tenant pays as additional rent operating expense increases based on a CPI formula. Tenant pays increase in property taxes above base year. The lease term is 15 years with a right to terminate after 10 years. Total 8,876 $256,605 $ % Potential Annual Income $256,605 Total S.F. 8,876 Avg. Annual Per S.F. $28.91 S.F. Vacancy (%) Rent Vacancy (%) All Sperry Van Ness Offices Independently Owned and Operated. The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.

14 3. Additional Information All Sperry Van Ness Offices Independently Owned and Operated.

15 GSA Lease Renewal and Early Termination FY 2008 Lease Turnover Analysis as Reported by GSA % of Total % of Total Disposition Of Leases Expiring in FY 2008 Sq Ft Sq Ft Count Count Leases Scheduled to Expire in FY ,638, % 2, % Extended in FY 2008 Beyond FY ,996,432 44% 1,156 55% Renewed During FY ,039,498 20% 168 8% Replaced in Same Building with New Leases 5,063,478 17% % Subtotal 24,099,408 81% 1,677 79% Leases Terminated 3,139,183 11% % Leases Moved to Another Leased Building 2,400,309 8% 161 8% Subtotal 5,539,492 19% % 79% OF LEASES RENEWED [Non-add: Leases Terminated - Move to Federal Bldg 395,267 1% 23 1% [Non-add: Leases Terminated - Canceled Agency Req. 1/ 1,450,117 5% 105 5% Disposition of Leases Expiring After FY 2008 Leases Scheduled to Expire After FY ,149, % 6, % Lease Replaced In Same Leased Building After Firm Term 19, % 7 0.1% Lease Replaced In Same Leased Building Before Firm Term 1, % 1 0.0% Lease Replaced In Different Leased Building After Firm Term 126, % % Lease Replaced In Different Leased Building Before Firm Term 12, % 1 0.0% Lease Terminate W/O Lease Replacement After Firm Term 766, % % Lease Terminate W/O Lease Replacement Before Firm Term 218, % % 1.6% EARLY TERMINATION [Non-add: Leases Terminated - Move to Federal Bldg 100, % 5 0.1% [Non-add: Leases Terminated - Canceled Agency Req. 1/ 449, % % FY 2008 Lease Turnover Total Leases At Start of FY ,787, % 8, % Same/Replacement Leases Continued Past FY ,124,040 96% 7,920 94% Same Lease Space Dis-Continued Past FY 2008 (Turnover) 6,663,927 4% 548 6% [Non-add: Leases Terminated - Move to Federal Bldg 495, % % [Non-add: Leases Terminated - Canceled Agency Req. 1/ 1,899,991 1% 154 2% 1/ Only counts actions where leases had to be terminated due to customer office closures, partial reductions in space not included. The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.

16 The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness

17 The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness

18 The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness

19 3210 Highway 15 North Laurel, MS Demographics Report 1.00 Mile Ring 3.00 Mile Ring 5.00 Mile Ring POPULATION 1990 Population 3,491 15,624 28, Population 3,659 16,260 29, Population 3,713 16,535 30,037 % Population Change % 4.07 % 0.75 % 2014 Total Population 3,909 17,321 31,230 % Population Change % 1.69 % 3.48 % % Population Change % 4.75 % 3.97 % 2014 Total Households 1,843 7,252 12,528 % Households Change % 5.32 % 6.86 % % Households Change % 6.27 % 5.49 % 2009 Household Income $200,000-$249, Household Income $250,000-$499, Household Income $500, Average Household Size Total Owner Occupied Housing Units 1,125 4,196 7, Total Renter Occupied Housing Units 585 2,637 4, Total Daytime Population 3,372 21,089 35, Total Daytime Work Population 1,464 12,387 18, Total Establishments 188 1,200 1,697 HOUSEHOLDS 1990 Households 1,482 6,285 10, Households 1,641 6,479 11, Households 1,727 6,824 11,876 % Households Change % 3.09 % 1.09 % The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.

20 2009 RACE AND ETHNICITY White Population 3,102 10,159 16,378 Black Population 430 5,268 12,098 American Indian/Alaska Native Population Asian/Hawaiian/Pacific Islander Population Other Population (Incl 2+ Races) , Hispanic Population 221 1,320 1, Non-Hispanic Population 3,492 15,215 28,198 INCOME 2009 Per Capita Income $29,321 $24,453 $20, Median Household Income $40,511 $36,669 $33, Average Household Income $63,039 $59,251 $52, HOUSEHOLD INCOME DISTRIBUTION Household Income < $10, ,527 Household Income $10,000-$14, ,160 Household Income $15,000-$19, Household Income $20,000-$24, Household Income $25,000-$29, Household Income $30,000-$34, Household Income $35,000-$39, Household Income $40,000-$44, Household Income $45,000-$49, Household Income $50,000-$59, ,109 Household Income $60,000-$74, Household Income $75,000-$99, Household Income $100,000-$124, Household Income $125,000-$149, Household Income $150,000-$199, The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.

21 All Sperry Van Ness Offices Independently Owned and Operated. 4. Advisor Profile

22 Michael Kuras S p e r r y V a n N e s s A d v i s o r s Michael Kuras serves as a senior advisor for Sperry Van Ness. With commercial real estate experience dating back to 1978, he specializes in the sale of office and industrial investment property in the Atlanta Metropolitan area. Kuras is a multi-year recipient of the Achiever award for being one of Sperry Van Ness top performers. Prior to joining Sperry Van Ness, Kuras served as an associate broker for REMAX Commercial in Atlanta, the top producing commercial office in the REMAX network. Additionally, he was the founder and president of Nexecon Properties, Inc. and Aberdeen Mortgage Corporation based in Boca Raton, Florida. Both companies were recognized as leaders in their market. Michael Kuras Senior Advisor Sperry Van Ness Active in the commercial real estate community, Kuras is a member of CoreNet Global, the Atlanta Commercial Board of Realtors, the Georgia Association of Realtors, and the National Association of Realtors. Kuras is a licensed real estate broker in Florida and Georgia. He earned a Bachelor of Business Administration in marketing from Mercer University, graduating on the Dean s List. While in attendance, he was the first student in Mercer history to have a faculty reviewed real estate research paper selected for publication at Indiana University and Purdue University.

23 Matthew Levin, CCIM Sperry Van Ness Advisors Matthew J. Levin, CCIM, serves as a Senior Advisor for Sperry Van Ness, specializing in the sale and leasing of office and industrial properties in the Atlanta Metropolitan area. Levin is also a member of the Sperry Van Ness Asset Recovery Team (SVN Art). With 15 years experience in the real estate industry, he has completed over 250 transactions valued at $100 million. Levin is a multi-year recipient of the Partner Circle Award, Sperry Van Ness' highest recognition, and consistently performs in the top ten percent of over 900 advisors nationally. Prior to joining Sperry Van Ness, Levin served as President of Dekalb Realty Company. Previously, he served as a $250 million Commercial Real Estate Non-Performing Loan Portfolio Manager for the Federal Deposit Insurance Corporation (FDIC). Levin is a life million dollar club member of the Atlanta Commercial Board of Realtors. He is past chairman of the Scholarship Committee of the Georgia Chapter of CCIM and past president of the Georgia State University, Real Estate Alumni Group. Matthew Levin, CCIM Senior Advisor Sperry Van Ness He received his Bachelor of Arts from Emory University and Master of Science degree in Real Estate from Georgia State University. All Sperry Van Ness Offices Independently Owned and Operated.

24 Neil Victor, CCIM Sperry Van Ness Advisors Neil Victor, CCIM, serves as Senior Advisor and associate broker for Sperry Van Ness Avat Realty, LLC specializing in the sale and leasing of multifamily and retail properties. Also involved with office, industrial, land and hospitality projects he is licensed in Alabama, Tennessee, Mississippi and Louisiana. Prior to joining Sperry Van Ness Victor owned office machine and computer businesses for more than 27 years selling out to a national vendor in the early 1990's. The computer business required extensive travel throughout the U.S. with an emphasis on the southeastern states. As a result Mr. Victor has extensive knowledge of the geography in the states where he practices the commercial real estate business. In addition to being a community business leader, Victor has lived in the local area since 1969 after being transferred from his overseas military assignment to Huntsville, Alabama. Mr. Victor has earned the prestigious Certified Commercial Investment Member (CCIM) designation and attends several continuing education classes in order to remain up-to-date in the industry; budgeting 20 percent of his time for meetings, seminars and continuing education. Neil Victor, CCIM Senior Advisor Sperry Van Ness Additionally, Mr. Victor is a member of the National Association of Realtors, the Huntsville Board of Realtors, the Institute of Real Estate Management, and the Alabama Chapter of CCIM. Victor also teaches real estate classes. He earned a bachelor s degree in Business from Athens State University in Athens Alabama and an Associates Degree from Calhoun Community College in Decatur, Alabama. Mr. Victor is an honored Army Veteran, having earned a Bronze Star while serving in the Vietnam War. His wife and partner is Ava Terry, Sperry Van Ness Advisor and Broker. Ava and Neil have been married since They have worked together in marketing and sales since the mid-1980's. The Sperry Van Ness culture has been an integral part of our business philosophy. Designations and Memberships CCIM Designee Licensed Broker in Alabama, Tennessee, Mississippi, Louisiana Member International Council of Shopping Centers Silver R Member RPAC B.S. Athens State University Member of National Association of Realtors Member of Huntsville Area Board of Realtors Bronze Star, U.S. Army, Viet Nam