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Brigham Rd Multifamily Development Site
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BRIGHAM RD PLANNED DEVELOPMENT SITE (PUD)6 9 0 & 6 9 6 B r i g h a m R d | G r e e n s b o r o , N C 2 7 4 0 9
PRIME MULTI FAMILY AND COMMERCIAL DEVELOPMENT SITE, MINUTES FROM PIEDMONT TRIAD INTERNATIONAL AIRPORT.
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FRANK QUINNExecutive Vice President
DIR +1 919 582 [email protected]
TABLE OF CONTENTS
DEVELOPMENT OPPORTUNITY: 03THE OPPORTUNITYSURROUNDING AMENITIES EXCELLENT ACCESSIBILITYPTI NOISE CONTOUR MAP
PROPERTY SUMMARY: 09SITE INFORMATIONSITE SURVEYTOPOGRAPHYFLOOD ZONESZONINGFUTURE LAND USE
MARKET ANALYSIS: 16DEMOGRAPHICSAREA RENTAL RATESECONOMIC DEVELOPMENTINNOVATION QUARTERPIEDMONT TRIAD INT’L AIRPORTMARKET OVERVIEW
RESUMES: 31
APPENDIX: 33TAX BILLS
DAVID STROUDVice President
DIR +1 919 582 [email protected]
E X C L U S I V E LY L I S T E D B Y :
COLLIERS INTERNATIONALRaleigh-Durham
DIR +1 919 832 1110colliers.com/rdu
DEVELOPMENT OPPORTUNITY
EDUCATION
COMMUNITY
RECREATION
LIFESTYLE
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Kernersville
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Piedmont Triad International
Airport
Smith-Reynolds Airport
Innovation Quarter
THE OPPORTUNITYPROPERTY DETAILS
Address 690 & 696 Brigham RdGreensboro, NC 27409
County Guilford
Acreage ±19.7 Acres
Zoning R-18 and C-H
PIN 009756 - 696 Brigham Rd0097744 - 690 Brigham Rd
Utilities Power, Gas, Water, Sewer
BRIGHAMMULTIFAMILY SITE
GREENSBORO
INVESTMENT SUMMARY
PRICE: $2,950,000
We appreciate your consideration of this development acquisition opportunity located in the burgeoning growth area of Greensboro, North Carolina. The Brigham Road land parcel is uniquely situated and strategically positioned in the Western Submarket of the City of Greensboro and Guilford County. The land parcel is unique in that PUD Zoning with multifamily residential and commercial components was granted to the current Ownership in February 2017. Over the past five years, the western area of the City of Greensboro has witnessed accelerated growth in major employment opportunities, high end shopping, a supportive business environment and the presentation of an envious quality of community life. There are almost daily occurrences of new announcements by both State and Local government officials of major employers committing to have a presence in the area, especially in and around the Piedmont Triad International Airport. This growth in employment brings the necessity of meeting the demand for multi-family residential living and supportive commercial now and continuing in to the future 2019-2022.
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Brigham Rd Multifamily Development Site
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Brigham Rd Multifamily Development Site
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W Market St
BRIGHAM RD
+227,400 SF Manufacturing Center
+400,000 SF Distribution Hub
+227,400 SF Manufacturer & Packaging
Supplies Wholesaler+130,000 SF
Distribution Center
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+3,500 Employees
+78,821 SF Distribution Center
+390,000 SF
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W Market St
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+157,000 SF Distribution Center
+108,000 SF Distribution Center
SITE LOCATED 2 MILES SW
#8 Largest Economic Development Project in NC
+155,000 SF Warehouse & Distribution
+40,000 SF Cold Storage
Distribution Center
+2000,000 SF Perishable
Distribution Center
+2000 TrailersStorage Trailer Rentals
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Piedmont Triad International
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Innovation Quarter
EXCELLENT ACCESSIBILITY
WINSTON-SALEM
GREENSBORO
Downtown Greensboro
BRIGHAMMULTIFAMILY SITE
LOCATION DRIVING DISTANCE NOTES LOCATION DRIVING
DISTANCE NOTES
Highway 40 6 Minutes2.5 Miles 54,329 VPD at highway entrance UNCG 19 Minutes
14 Miles+17,929 On-campus Students
+250 Graduate, Undergraduate and
Piedmont Triad International Airport (PTI)
8 Minutes6.3 Miles
Home to 5 International BrandsOver +12,000 Jobs Created Winston Salem 15 Minutes
12 Miles+242,203 Population
Located in Forsyth County (County Seat)
Downtown Greensboro
15 Minutes13.5 Miles
+ 22 New Businesses Created in Downtown Greensboro
+240 New Jobs Created in Downtown Innovation Quarter 20 Minutes
19 Miles152 Companies
3,700 Employees337 Acres
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PIEDMONT TRIADPIEDMONT TRIADINTERNATIONAL AIRPORTINTERNATIONAL AIRPORT
PART 150 STUDYPART 150 STUDY
DNL ContoursDNL Contours2014 NEM with2014 NEM withNCP measuresNCP measures
(Final 2014 Forecast A(Final 2014 Forecast AAlternative 2C)Alternative 2C)
2014 Forecast A Alternative 2C DNL Contours
Study Area Boundary
Airport Boundary
Municipal Boundaries
County Boundaries
�� 2004 Noise Measurement Location
�� 1999 Noise Measurement Location
� Churches
� Schools
� Colleges/Universities
�� Fire Stations
Existing Roads
Proposed Roads
Streams
Water Bodies
Moses Cone Medical Center
Presbyterian Retirement Community
Residential Built Since 12/31/2001
Residential Under Construction
Residential Zoning
�
Figure 15
0 4,000 8,000 12,000 Feet
Off-Airport Zoning within DNL 65Agricultural
Residential
Commercial
Office
Light Industrial
Heavy Industrial
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PTI NOISE CONTOUR MAP
Situated within a one mile radius, southeast from Piedmont Triad International Airport, the Brigham Multifamily Site is ideally located providing convenient access to the airport.
SITE
PROPERTY SUMMARY
EDUCATION
COMMUNITY
RECREATION
LIFESTYLE
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YSITE INFORMATION
PROPERTY OVERVIEW
Address 690 & 696 Brigham RdGreensboro, NC 27409
County Guilford
Acreage±19.7 AcresLot A - 15.8Lot B - 3.9
PIN 0097756 - 696 Brigham Rd0097744 - 690 Brigham Rd
ZONING & ENTITLEMENTS
Zoning (PUD) Lot 1 - R-18 (Residential) Lot 2 - C-H (Commercial)
PUD ConditionsAssign 3/6/2017
1. Lot A, containing 15.8 acres, shall be limited to a max of 284 residential units
2. Lot B, containg 3.9 acres, uses permitted in the Commercial High (C-H) district, excluding
residential uses and the total SF be limited to a max of 34,200 square feet
Density Approved 284 UnitsCommercial - 34,200 Square Feet
AB
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MARKET OVERVIEWFUTURE LAND USE
LEGEND Transit Planning & Projects (greensboro-nc.goc)
The GDOT Planning Division's primary role with respect to public transit in the Greensboro Urban Area consists of providing support and coordination for the various transit providers serving the area. Public transit has a significant potential for shaping future development patterns. Consequently, the Division also works with local and regional land use planning and permitting agencies to ensure that access to transit service is available to developing areas, and to promote transit supportive land use patterns in redevelopment and new development projects.
MARKET ANALYSIS
EDUCATION
COMMUNITY
RECREATION
LIFESTYLE
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1-Mile 3-Mile 5-Mile
2 0 2 3 S U M M A RY
Total Population 807 12,904 63,117
Households 337 4,841 26,367
Average Household Size 2.39 2.66 2.35
Total Housing Units 410 5,139 28,187
Owner-Occupied 56.1% 69.5% 56.1%
Renter Occupied 22.4% 21.4% 34.6%
Average Household Income $110,598 $111,673 $91,419
Median Household Income $81,084 $84,486 $68,322
Per Capita Income $41,110 $41,759 $38,772
Median Home Value $280,172 $261,024 $230,767
DEMOGRAPHICS1-Mile 3-Mile 5-Mile
2 0 1 8 S U M M A RY
Total Population 750 12,061 59,414
Households 313 4,533 24,923
Average Household Size 2.40 2.66 2.35
Total Housing Units 381 4,809 26,629
Owner-Occupied 56.4% 69.8% 56.2%
Renter Occupied 25.7% 24.5% 37.4%
Average Household Income $97,821 $99,766 $81,223
Median Household Income $73,106 $75,544 $60,329
Per Capita Income $36,339 $37,410 $34,662
Median Home Value $251,786 $238,654 $211,569
DEMOGRAPHIC SNAPSHOT | 1 MILE EMPLOYMENT SNAPSHOT | 1 MILE
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PRIME SURROUNDING APARTMENTSThe convient access to Piedmont Triad Airport combined with the increase and success of surrounding industrial businesses has brought an influx of new and high-class apartment complexes to the area. The need for accomodating surroundings and luxury living spaces is at a higher demand than ever before.
Shift in Triad Multi-Family Market
› Economic growth momentum has the Triad apartment market near the top of the South region leaderboard for rent GROWTH IN 2017.
› Greensboro/Winston-Salem ranked #11 among the TOP 50 markets nationally.
› Trending occupancy levels reflect the HIGH DEMAND for a continuous supply of residential units.
› Pipeline inventory expansion is expected for 2018 with estimated projections to surpass 3%.
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BUILDING STATUS BUILDING NAME BUILDING ADDRESS CITY YEAR BUILT
# OF UNITS AVG $/UNIT AVG $/SF
Under Construction Carroll at Bellemeade N Eugene St Greensboro 2018 289 N/A N/A
Under Construction Millis & Main - Phase II Millis Rd Jamestown 2018 120 N/A N/A
Under Construction The Lofts at New Garden 1301 New Garden Rd Greensboro 2018 189 N/A N/A
Existing Encore North 3619 N Elm St Greensboro 2017 237 $1,179 $1.10
Existing The Reserve at Smith Crossing 1461 Jag Branch Blvd Kernersville 2017 224 $1,037 $0.98
Existing Kirkwood Place 2800 Lawndale Dr Greensboro 2017 57 $1,053 $1.18
Existing Greenway at Stadium Park 451 N Eugene St Greensboro 2015 67 $1,280 $1.29
Existing Piedmont Place Apartments 5817 Garden Village Ct Greensboro 2015 100 $1,368 $1.30
Existing The Grove at Kernersville 1014 Grays Land Ct Kernersville 2015 216 $1,148 $1.04
Existing Plantation at Pleasant Ridge 1198 Pleasant Ridge Rd Greensboro 2014 288 $1,085 $0.92
Existing Bridford West 598 Eagle Rd Greensboro 2013 264 $1,038 $1.00
Existing Greenway at Fisher Park 404 W Smith St Greensboro 2012 196 $1,183 $1.44
Totals/Averages 2016 187.25 $1,152 $1.14
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SELECT SOLD MULTIFAMILY PROPERTIES MAP
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SURROUNDING ECONOMIC DEVELOPMENT
2017 EMPLOYED POPULATION
CBD4,391
City of Raleigh136,188
Guilford County246,802
Greensboro, North Carolina is known locally for a rich, historic heritage and deep-rooted family businesses. Today, the city thrives as a hub for new and expanding companies, boasting names like FedEx, Honda Jet, Coca-Cola, and Volvo.
Among some of Greensboro’s most significant economic developments is FedEx’s Piedmont Triad International Airport Expansion. The $300 million package-sorting hub and third airport runway has positioned FedEx as a center for distribution and connection on the Eastern Seaboard, as well as contributed significantly to the Guilford County economy.
Honda Aircraft is also thriving as a Greensboro local. The company’s 1,700 employees are producing the “most delivered jet in category” as of 2017. Honda joins Cone Health, UNC Greensboro, Volvo, Thomas Built, and Labcorp as some of the region’s top employers, each retaining over 1,000 workers.
Recently named one of the nation’s top 500 fastest growing companies is Greensboro-local Cogent Analytics: a coaching and consulting company that has grown 1,831% over the last 3 years.
In tandem with large national corporations are ample opportunity and realized success for the startup community and growing businesses alike. The Nussbaum Center, HQ Greensboro, and Launch Greensboro all provide ecosystems for entrepreneurship. Greensboro Chamber of Commerce reported over $9.5 million raised from local investors and does not look to be slowing any time soon. Local tech startup Guerilla recently raised $3.8 million and is planning to expand accordingly.
RANK EMPLOYER PRODUCT OR SERVICE EMPLOYEES
1 Cone Health Health Care 12,000
2 Guilford County School System Public Schools 9,228
3 City of Greensboro Local Government 2,945
4 Ralph Lauren* Apparel 2,853
5 University of North Carolina, Greensboro Education 2,663
6 US Postal Service Postal Service 2,300
7 Guilford County Government Local Government 2,283
8 Volvo Group in Greensboro Manufacturing 2,200
9 Unifi, Inc. Textiles 2,021
10 United Healthcare Health Care 1,878
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20 MINUTES TO INNOVATION QUARTERAREA'S LEADING TECHNOLOGY PARK IN THE HEART OF WINSTON-SALEM
Wake Forest Innovation Quarter is one of the fastest-growing urban-based districts for innovation in the United States. Home to more than 170 companies, five leading academic institutions, more than 3,700 workers, 1,800 degree-seeking students and over 8,000 workforce trainee participants, the Innovation Quarter is a place for research, business and education in biomedical science, information technology, digital media, clinical services and advanced materials. The Innovation Quarter currently comprises 2 million square feet of office, laboratory and educational space on its 337 acres. In addition, there are approximately 730 apartments and condominiums within or close by the Innovation Quarter.
The mission of Wake Forest Innovation Quarter is to drive economic growth and build vibrant community.CLICK ON THE IMAGES BELOW FOR A TOUR
Facilitating innovation through real estate development, tenant growth and building a vibrant community
Engaging with tenants and residents to meet their shared needs, including facilities, services, special activities, programs, events and space activation
Creating programs for tenants and residents for the exchange of ideas and knowledge
Partnering with local, regional and national organizations to foster entrepreneurship and the start-up community and help attract funding to support growth and sustainability
1 5 2 C O M P A N I E S | 3 , 7 0 0 E M P L O Y E E S + | 3 3 7 A C R E S | 1 . 9 M S F
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STRATEGICALLY POSITIONED AT THE HUB OF THE DYNAMIC
PIEDMONT TRIAD REGION
home to 5 international brands
12,000 JOBS4% flight increase in 2017
$2 BILLION IN ECONOMIC IMPACT7,100 EMPLOYEES
PASSENGERS EACH YEAR
1.6 MILLION
$60 million facility
creating 500 new jobs
expected to complete in 2018
LOCATIONLocated at the center of North Carolina and the midpoint of the East Coast, PTI is strategically positioned at the hub of the dynamic Piedmont Triad region, situated between the cities of Greensboro, Winston-Salem and High Point where I-40, I-85 and the I-73 and I-74 converge. More than 4.5 million people live within a 90-minute drive of PTIA.
HOURS OF OPERATIONThe terminal building is open 24 hour a day, 365 days a year. TSA Checkpoints open at 4:15 a.m. every day.
AIRPORT CAMPUSPiedmont Triad International Airport is part of a 4,000-acre campus, home to more than 50 companies that infuse an estimated $2 billion into the local community annually. More than 5,000 people work on the campus. PTI is owned and operated by the Piedmont Triad Airport Authority. No local tax dollars are used to operate the airport.
300 DAILY FLIGHTS | 1.7 MILLION ANNUAL PASSENGERS | 90 AIRCRAFTS BASED
PTI RENDERING
SOURCE: THE BUSINESS JOURNAL
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MARKET OVERVIEWGREENSBORO/GUILFORD ACCOLADES
› #1 In Economic Development in NC, Greensboro-highpoint.com
› #4 In Economic Development in Southeast US, Greensboro-highpoint.com
› 34,000 Manufactoring Workers in Guilford County, Greensboro-highpoint.com
› 103,000 Regional y Greensboro-highpoint.com
› #3 UNCG is ranked third among public universities in North Carolina according to the 2017 College Choice “25 Best Colleges in North Carolina” list. newsandfeautures.uncg.edu
› #3 For the fifth year in a row, UNCG has earned the “Tree Campus USA” designation for promoting healthy trees and encouraging the spirit of conservation. . newsandfeautures.uncg.edu
Natural Resources, Utilities, Construction
Administrative & Supportive
Education, Health Care, Social Services
Manufacturing
Hospitality, Arts, Entertainment
Wholesale Transportation, Warehouse
Other Services
Government
Retail Trade
Business & Professional Services, Information, Finance
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MARKET OVERVIEWGREENSBORO
GREENSBORO HERITAGEA step in to downtown Greensboro delivers every ounce of expected Southern charm. Walkable streets, boutique-style retail, and craft food and beverage destinations make for easy living.
MAJOR EMPLOYERSHealthcare, education, production, and transportation occupations employ the majority of Greensboro locals. Major employers include Guilford County Schools, Cone Health, US Postal Services, Thomas Built, and Labcorp2.
CONVENIENT ACCESSIBILITYI-73 and I-40 are both minutes away from Greensboro, connecting both the Central Business District and the suburbs to the greater Triad area. Greensboro is home to Piedmont Triad International Airport, which transports approximately 850,000 passengers per year. PTI anchors a FedEx hub, bringing convenience to material transportation as well.
SCHOOLSGreensboro offers residents several educational institutions, with local Guilford College, UNCG, and A&T State University totaling in over 32,000 local students. In addition to the younger undergraduate students, Greensboro area schools are sought after by older adults due to schedule flexibility and student body diversity.
REGIONAL ANALYSISGreensboro is part of what is known as the Piedmont Triad Region that encompasses Greensboro, Highpoint and Winston-Salem. Greensboro itself is the central point of the region, an area that historically has relied on manufacturing of textiles, furniture and tobacco. While declining in importance, these industries still employ over 13% of the workforce. More recently, there has been a shift towards service sectors such as finance, healthcare, nanotechnology and global logistics. As can be seen from the chart, the area falls below the State in most economic indicators and significantly below U.S. averages.
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Located 13 miles away from Brigham Multi-Family property is Cone Memorial Hospital. Deep-rooted heritage has long been a part of Greensboro culture, dating back to founding families such as the Cones, who have contributed to infrastructure and growth for decades. Moses H. Cone Memorial Hospital, seeing over 275,000 patients annually, was opened in 1953 by the Cone family as a community hospital. The Hospital has had at least one member of the Cone family on the board of trustees since opening, and continues to receive award-winning accolades for their Neuroscience, Children’s ER, and Heart & Vascular Centers. Beyond the Greensboro flagship locations stand over 100 additional locations, including six hospitals, across Guilford, Forsyth, Rockingham, Alamance, Randolph, and Casewell counties. The hospital has made 2 additions in the last 5 years and continues to expand across the region.
$51.1 million in excess revenues
top 2% nationally for “Common Care”
1,200 DEDICATED VOLUNTEERS100 locations in 6 counties
1,254 BEDS12,000 EMPLOYEES
LARGEST EMPLOYERIN GUILFORD COUNTY#1
MARKET OVERVIEWCONE MEMORIAL HOSPITAL
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MARKET OVERVIEWUNIVERSITY OF NC AT GREENSBORO
#3public university in
North Carolina
17,929on-campus students
1,700enrolled in extension
programs
student lead government, special interest
clubs and
service
organizations operate on Duke’s campus
400+ › 19th straight year “Best Colleges” list for
excellence in undergraduate education | U.S. News & World Report
› #3 NC public universities | College Choice
› 26th consecutive year Best colleges list | U.S. News and World Report
› #3 Counseling program in the nation | U.S. News & World Report
› #3 Hidden Gems Around the World (Weatherspoon Art Museum) | Buzzfeed
› #13 Part-Time MBA Program (Bryan Business School Evening Program) | Bloomberg Businessweek
hold 93 buildings and assorted
recreational
and athletics
facilities, within
a 15-minute walk
+ 200A C R E S
WORLD-CLASS EDUCATION & RESEARCH
250graduate, undergraduate, and certificate programs
1,000campus employees
UNC-Greensboro, a public university in Greensboro, NC, was recently named a College of Distinction; an honor only awarded to four North Carolina universities. UNCG’s Bryan School of Business, as well as their fine arts programs, continue to receive high distinctions both on local and national levels, with accolades placing the university alongside the likes of Yale and Duke. In addition to premier education, UNCG recently joined the Division-1 league of college athletic programs, positioning the university in stadiums with the nation’s top athletes.
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MARKET OVERVIEWGUILFORD COLLEGE
83%employed in the first year after graduation
2,137students
14:1student to faculty ratio
QUICK FACTS
Of beautiful suburban campus property in
the heart of Guilford County
+340 A C R E S
› 21st straight year “Colleges that Change Lives” list | CTCL.org
› 89 green rating | The Princeton Review Guide to 361 Green Colleges
› #6 Most diverse colleges in North Carolina | Niche
› #19 Colleges with the best academics in North Carolina | Niche
› Top 17% Most diverse colleges in America | Niche
WORLD-CLASS EDUCATION & RESEARCH
41 majors
52 minors
Guilford College, a private college tucked away in the heart of Greensboro’s metro area, hosts students from 38 states and 16 countries. The diverse student body represents over 36 religious affiliations and had 40% students of color in the class of 2020.
A liberal arts education rooted in vocational skills and personal values makes Guilford an attractive college for students looking for more than a classroom experience. Guilford’s roots also gave it a National Historic District recognition, boasting rich history in the campus’s history, buildings, and founders.
Click HERE to view aerial of Guilford College
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Greensboro boasts an impressive number of local museums, parks, theaters, and galleries, as well as the growing Greensboro Science Center for the littlest of locals. The regionally recognized science museum hosted 411,258 visitors in 2017 alone, making it the 13th most visited attraction in the state. Current exibits include Adventure Theater shows, OmniSphere 3-D presentations, Skywild treetop adventure, an aquarium and a zoo. In addition to regular young visitors, the science center hosts hundreds of private events, including weddings, birthday parties, fundraisers and meetings. The Conservation Fund also hosts well-attended annual events, raising millions of dollars to support conservation efforts.
MARKET OVERVIEWGREENSBORO SCIENCE MUSEUM
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PIEDMONT TRIAD INTERNATIONAL AIRPORT847,000 passengers in 2016 | 3.25%
growth rate in 2016 | 77,053 passengers in June 2017
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GREENSBORO COLISEUM COMPLEX
8 venues | 22,000 seat coliseum | 1,100 events annually | Host to ACC
and NCAA tournaments
THE UNIVERSITY OF NORTH CAROLINA AT GREENSBORO
Founded in 1891 | 19,000 students | 43% ethnic minorities
FRIENDLY SHOPPING CENTER
124 stores | 34 dining locations | Named “Most successful
shopping center in the Triad”
GREENSBORO COLLEGEFounded in 1838 I Enrolls 1,300
students from 32 states & 29 nations
THE MOSES H CONE MEMORIAL HOSPITAL
51k admissions + 225k ER visits annually | NC #1 Stroke Discharge Rate | Opened
6-story $200mil tower in 2013
NORTH CAROLINA AGRICULTURAL AND TECH
STATE UNIVERSITYOver 11,000 students | 3% growth in
2016 | 46% male/54% female
BRYAN PARK 36 holes of championship golf
CITY OF GREENSBORO COUNTY PARK
GREENSBORO SCIENCE CENTER
Features: Zoological Park, Aquarium, Dinosaur Gallery I Over 280,000 annual
attendance | 43% growth since 2013
GREENSBORO ARBORETUM
GILLESPIE GOLF COURSE CITY OF GREENSBORO PARKS & REC
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GUILFORD COLLEGEFounded in 1837 I 1,917 Undergrad
students | 83% graduates employed in 1st year
85
MARKET OVERVIEWAREA OVERVIEW
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COMMUNITY
RECREATION
LIFESTYLE
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COLLIERS TEAMBIOS
Frank T. Quinn Jr. | Execut ive Vice President
Frank serves as Executive President for the Colliers International Raleigh-Durham office. Frank’s career spans over 38 years, with his roots in the Washington, D.C. Metropolitan market and throughout the Southeast. During this time Frank has provided real estate services to owners, investors and tenants of all property types including GSA and institutional clients such as IBM, KITE REIT, Johnson Electric, Bank of America, Siemens and Duke Energy. Frank is regarded by his clients and colleagues as an innovative, competitive real estate executive with outstanding operations management and marketing skills.
David Stroud | Vice President
In 2017, David joined Colliers International in Raleigh where he continues to be an industry leader in the land and industrial sectors from the Triad region to the coast. David works with both developers and land owners to assemble and acquire sites for future developments. His unique experience and deep professional network have bolstered his success rate in a diverse assortment of transactions. David takes pride in his long-term relationships, and specializes in developing and sustaining robust results for his clients.
APPENDIX
EDUCATION
COMMUNITY
RECREATION
LIFESTYLE
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This Offering Memorandum contains selected information pertaining to the Property and does not purport to be a representation of the state of affairs of the Property or the owner of the Property (the "Owner") to be all-inclusive or to contain all or part of the information which prospective investors may require to evaluate a purchase of real property. All financial projections and information are provided for general reference purposes only and are based on assumptions relating to the general economy, market conditions, competition and other factors beyond the control of the Owner and Colliers International RDU. Therefore, all projections, assumptions and other information provided and made herein are subject to material variation. All references to acreages, square footages, and other measurements are approximations. Additional information and an opportunity to inspect the Property will be made available to interested and qualified prospective purchasers. In this Memorandum, certain documents, including leases and other materials, are described in summary form. These summaries do not purport to be complete nor necessarily accurate descriptions of the full agreements referenced. Interested parties are expected to review all such summaries and other documents of whatever nature independently and not rely on the contents of this Offering Memorandum in any manner.
Neither the Owner or Colliers International RDU, nor any of their respective directors, officers, Affiliates or representatives make any representation or warranty, expressed or implied, as to the accuracy or completeness of this Offering Memorandum or use of its contents; and you are to rely solely on your investigations and inspections of the Property in evaluating a possible purchase of the real property.
The Owner expressly reserved the right, at its sole discretion, to reject any or all expressions of interest or offers to purchase the Property, and/or to terminate discussions with any entity at any time with or without notice which may arise as a result of review of this Offering Memorandum. The Owner shall have no legal commitment or obligation to any entity reviewing this Offering Memorandum or making an offer to purchase the Property unless and until written agreement(s) for the purchase of the Property have been fully executed, delivered and approved by the Owner and any conditions to the Owner's obligation therein have been
CONFIDENTIALITY AGREEMENT
This is a confidential Offering Memorandum intended solely for your limited use and benefit in determining whether you desire to express further interest in the acquisition of the Property. By receipt of this Offering Memorandum, you agree that this Offering Memorandum and its contents are of a confidential nature, that you will hold and treat it in strictest confidence and that you will not disclose this Offering Memorandum or any of its contents to any another entity without the prior written authorization of the Owner or Colliers International RDU. You also agree that you will not use this Offering Memorandum or any of its contents in any manner detrimental to the interest of the Owner or Colliers International RDU. If after reviewing this Offering Memorandum, you have no further interest in purchasing the Property, kindly return this Offering Memorandum to Colliers International RDU.
DISCLAIMER
The information contained in this document has• been obtained from sources believed reliable. While Colliers International RDU does not doubt its accuracy, Colliers International RDU 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. Photos herein are the property of their respective owners and use of these images without the express written consent of the owner is prohibited. Colliers International RDU and the Colliers International logo are service marks of Colliers International and/or its affiliated or related companies in the United States and other countries. All other marks displayed on this document are the property of their respective owners.
AFFILIATED BUSINESS DISCLOSURE
Colliers International RDU operates within a global family of Colliers companies with many subsidiaries and/or related entities (each an "Affiliate") engaging in a broad range of commercial real estate businesses including, but not limited to, brokerage services, property and facilities management, valuation, investment fund management and development. In some cases. The names of these Affiliates show no reference to the Colliers Affiliation. At all times different Affiliates may represent various clients with competing interests in the same transaction. For example, this Offering Memorandum may be received by our Affiliates, including AACRE Properties, LLC; AACRE, LLC. Those, or other, Affiliates may express an interest in the property described in this Offering Memorandum (the "Property") may submit an offer to purchase the Property and may be the successful bidder for the Property. You hereby acknowledge that possibility and agree that neither Colliers International RDU nor any involved Affiliate will have any obligation to disclose to you the involvement of any Affiliate in the sale or purchase of the Property. In all instances, however, Colliers International RDU will act in the best interest of the client(s( it represents in the transaction described in this Offering Memorandum and will not act in concert with or otherwise conduct its business in a way that benefits any Affiliate to the detriment of any other offeror or prospective offeror, but rather will conduct its business in a manner consistent with the law and any fiduciary duties owed to the client(s) it represents in the transaction described in this Offering Memorandum.
DISCLAIMER
BRIGHAM RD MULTIFAMILY SITE 6 9 0 & 6 9 6 B r i g h a m R d | G r e e n s b o r o , N C
FRANK QUINNExecutive Vice PresidentDIR +1 919 582 [email protected]
DAVID STROUDVice PresidentDIR +1 919 582 [email protected]
COLLIERS INTERNATIONALRaleigh-DurhamDIR +1 919 832 1110colliers.com/rdu