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PROPOSAL TO PROVIDE
Leasing Services
May 14, 2019
Prepared for
| 3
© 2019 Avison Young - Tennessee, Inc.The contents of this proposal are intended for the individuals to whom it is presented or delivered and their associates, and should not be shared with anyone outside of Ownership. Any dissemination or replication, without the express authorization of Avison Young, is strictly prohibited. This proposal contains selected information pertaining to the Proposal, which Avison Young views to be accurate.
Table of Contents
1 | Avison Young 5
2 | Marketing & Leasing 11
3 | Addendum 23
2 | | 3 Park 840
4 | | 5
Avison Young
4 | Park 840 | 5
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Founded
1978Employees
+5,000
Offices
124
Property Managed
>290 msfBrokerage Professionals
+1,600
Avison Young is one of the world’s fastest-growing commercial real estate firms, and we are expanding globally. This growth is a testament to the commitment we’ve made to our clients and our employees. We’re different. We’ve designed our organization to be highly collaborative and focused on one thing: creating the best solutions for our clients to deliver long-
UNITED STATES
POLAND
CROATIA
GERMANY ROMANIABULGARIA
GREECE
UNITED ARAB EMIRATES
SPAIN
ITALY
IRELANDUNITED KINGDOM
NORWAY
CHINAKOREA
FRANCE
RUSSIA
MEXICO
CANADA
AUSTRIA
About Avison Youngterm success. And because of the value we deliver, our culture and our unique approach, clients and talent are joining us every day.
In Nashville, the Avison Young office has 25 brokers, 57 employees, 4.5 msf currently under management and 3.5 msf currently under agency contract leasing.
UNITED STATES
POLAND
CROATIA
GERMANY ROMANIABULGARIA
GREECE
UNITED ARAB EMIRATES
SPAIN
ITALY
IRELANDUNITED KINGDOM
NORWAY
CHINAKOREA
FRANCE
RUSSIA
MEXICO
CANADA
AUSTRIA
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Executive Brokerage Team
Tara ThompsonMarketing Director
Starr HicksMarketing Coordinator
David KeltonicCreative Director
Elise DurantPR Coordinator
Brennan ForsterResearch Director
Marketing/Research
Carrie RobinsonVice President
Business Development
Warren SmithPrincipal / Managing Director
Nashville
Organizational Chart
Rachel AdamsListing Coordinator
Buist Richardson, SIORPrincipal
Sarah JamesAssociate
Sue Earnest, CCIMPrincipal
Recent Team Bulk Experience
100,000 sf117,000 sf
159,000 sf
320,000 sf
85,000 sf94,000 sf117,000 sf
91,000 sf
160,000 sf166,000 sf
226,000 sf281,000 sf352,000 sf
456,000 sf
280,000 sf
100,000 sf162,000 sf
107,000 sf
Portland
91,000 sf126,000 sf
120,000 sf
Spring Hill
275,000 sf
Murfreesboro
135,000 sf
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Marketing & Leasing
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Leasing and Marketing Approach
LEASING ANALYSIS MARKETING STRATEGY
MARKETING COLLATERAL
Property Overview
Opportunities and Threats
Market Overview
Submarket Overview
Market Placement
Competitive Set
Building Identity
Signage
Digital Marketing
CoStar/LoopNet Advertising
Avison Young Website
Flyers/Brochures
Property Signage
Website/Online Property Profile
Aerial Video
The Avison Young approach brings a unique perspective in providing marketing and leasing services. Our main objective is to create value by understanding the client-specific goals while creating a strategy to execute each assignment in a seamless manner. Known for our comprehensive market knowledge, service commitment and “best-in-class” marketing materials, the Avison Young team builds strong, long-term relationships with each client
while positioning their assets for the highest income potential. To maximize the opportunities, we have put together a comprehensive leasing and marketing plan for your property. Avison Young offers a full range of real estate brokerage services created from an owner’s perspective and will implement a full leasing and marketing strategy to maximize value. A summary of the services we will employ includes:
LEASING STRATEGY
Civic Relationships
Broker Relations
Broker Incentives
Canvassing
On-Site Tour Experience
Reporting
Avison Young Network
Property Video
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Marketing CollateralMarketing Strategy
E-Marketing
Park840West.com
Video
Brochure
• CoStar
• LoopNet
• AvisonYoung.com
• Signage
• Flyer
• Eblasts
Standard Practices
• Building Identity & Branding
• Custom Website (Park840West.com)
• Marketing Video/Drone
• Enhanced Brochure
• Branded E-Marketing Campaign
• Quick Turn-Around
Above & Beyond Practices
Dedicated Marketing Team
With a dedicated high-end marketing team, we have the ability to generate high caliber materials and utilize a variety of marketing channels. This allows for above & beyond practices such as branding, building identity and advanced digital marketing with quick turn-around time that we provide at no cost to our clients. Timing is key with our go-to-market strategy; and the cost savings that an outside marketing firm would charge is a huge advantage to landlords.
207,518 sf Industrial Space Available with 3,334 sf Existing OfficeL E B A N O N , T E N N E S S E E
Overview Location Available Space Contact
LEARN MORE
G A L L E R Y
© Avison Young, 2019
• 32’ Clear Height
• 22 dock doors cross docked with levelers
• 2 drive-in door
• Immediate Access to 840 and 109
Features
Overview Location Available Space Contact
50’ x 45’6” Column Spacing
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Targeted Cold Calling:• Tenant Type (3PL,
E-Commerce, Ancilliary Automotive and beyond)
• Tenant Expirations
• Neighboring & Growing Businesses
• Potential Flight to Quality Tenants
Networking:• Avison Young Industrial
Affinity Group
• Avison Young Affinity Groups Enterprise Soltuions
• CCIM, CREW, NAIOP & SIOR
Custom Reporting:• Cold Calls
• Showings
• Inquiries
• Marketing Efforts
• Tenants in the Market
• General Market Activity
On-Site Marketing Center: In order to create the most professional tour experience showcasing the space, we will create an “On-Site Marketing Center” which includes:
• Printed Brochures
• Marketing Boards
• Drinks
• Meeting Area
Leasing Strategy
Marketing Boards
Leasing Recommendations
Together with the in-house marketing team, we recommend going to market as quickly as possible for immediate exposure with a clear message and new materials that are meant to reposition the property and create top of mind awareness.
Face Rate $4.15/sf
Taking Rate $3.90 - $4.00/sf
Free Rent 1 - 2 Months
TI $0.50/sf - $0.75/sf (Office Reconfiguration)
Bumps 3% Annually
Term Option Shorter Lease (Minimum 3 Year)
Term Goal 5 – 7 Years
Leasing Recommendations and Terms:
• Civic Relationships
• Broker Relations
• Canvassing
Standard Practices Above & Beyond Practices
Broker Networks
Civic Relationships
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CompetitionFirst Tier
Property Name Address City Submarket Building Size SF Available Asking Rate Brokerage Company
1 Park 840 West 14840 14840 Central Pike Lebanon Wilson County 653,460 207,518 TBD SUBJECT
2 Couchville Pike Bldg 1 245 Couchville Pike Mt. Juliet Wilson County 709,651 200,000 - 709,651 Undisclosed Unknown
3 Speedway Industrial Park Bldg 1 1000 Darrell Waltrip Mt. Juliet Wilson County 689,440 200,000 - 689,440 Undisclosed ProVenture
4 Midway 840 1485 Couchville Pike Mt. Juliet Wilson County 670,461 200,000 - 670,461 Undisclosed CBRE
5 Park 840 East Bldg 100 1000 Hixson Blvd Lebanon Wilson County 558,600 200,000 - 558,600 $4.25 CBRE
6 Beckwith Farms Bldg 8 41 Athlete’s Way Mt. Juliet Wilson County 458,136 200,000 - 458,136 $3.85 - $5.00 Cushman & Wakefield
7 Wilson Commerce Bldg B 115 Logistics Dr Mt. Juliet Wilson County 324,000 150,000 - 324,000 $4.25 ProVenture
8 Eastgate Distribution Center 7950 Eastgate Blvd Lebanon Wilson County 105,000 105,000 $4.50 Cushman & Wakefield
Second Tier
Property Name Address City Submarket Building Size SF Available Asking Rate Brokerage Company
9 CentrePointe I 5501 CentrePointe Dr LaVergne Southeast 601,520 200,000 - 601,520 $3.65 Cushman & Wakefield
10 Mid South Logistec Center 455 Industrial Blvd La Vergne Southeast 570,500 56,724 - 300,000 Undisclosed ProVenture
11 CentrePointe 7 4000 CentrePointe Dr La Vergne Southeast 497,000 300,300 $4.25 Chas. Hawkins
12 1224 Heil Quaker 1224 Heil Quaker Blvd La Vergne Southeast 206,102 100,000 - 206,102 $4.75 Cushman & Wakefield
13 Airport Business Park Bldg 2 180 Threet Industrial Rd Smyrna Southeast 301,495 50,000 - 100,468 Undisclosed ProVenture
14 Park 24 Bldgs 1 - 7 (7 Bldgs) 100 - 700 Mason Rd La Vergne Southeast 83,916 - 322,920 30,000 - 322,920 $5.00 Chas. Hawkins/NorthStar
15 Interchange City 3818 Logistics Way Antioch Southeast 517,500 150,000 - 517,500 $3.85 - $5.00 Cushman & Wakefield
16 Airport Business Park Bldg 3 423 Liberator Lane Smyrna Southeast 564,404 148,822 $4.85 ProVenture
17 CentrePointe 5 533 New Paul Rd La Vergne Southeast 387,232 85,000 - 387,232 $5.05 Cushman & Wakefield
Third Tier
Property Name Address City Submarket Building Size SF Available Asking Rate Brokerage Company
18 109 Kirby Drive 109 Kirby Dr Portland North 219,767 219,767 $3.45 Chas. Hawkins
19 1125 Vaughn Drive 1125 Vaughn Dr Portland North 504,000 192,000 $3.35 Cushman & Wakefield
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Portland
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Addendum
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Avison Young Landlord Brokerage Team + Tenant Broker (co-broker)
New Leases and Expansions 6% of Net rental income over term
Renewals 4% of Net rental income over term
Avison Young Landlord Brokerage Team
New Leases and Expansions 4% of Net rental income over term
Renewals 2% of Net rental income over term
Lease Fee Schedule
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Sarah JamesAssociate
Sarah James is a Nashville native and brokerage associate in Avison Young’s Nashville office. Having worked in commercial real estate since 2015, she is a member of the Industrial Services team, representing both landlords and tenants. Her portfolio includes over one million square feet of industrial landlord representation.
Prior to joining Avison Young, Sarah was employed as a marketing coordinator with Cushman & Wakefield | Cornerstone.
Credentials
• National Association of Industrial and Office Properties (NAIOP) Member
• Certified Commercial Investment Member (CCIM) Candidate
• Commerical Real Estate Women (CREW)
• University of Tennessee at Chattanooga – B.S., Business
ResumesResumes
Buist Richardson, SIORPrincipal
Buist Richardson is a seasoned commercial real estate veteran skilled in third party negotiations. He values his relationships for the long term, as he helps his clients navigate the waters of commercial real estate. He is proud to lead the Industrial Division for Avison Young’s Nashville office.
As a native Nashvillian, Buist has seen Nashville progress from a sleepy city to the robust, thriving, cultural community it is today. Prior to joining Avison Young, Buist was a Principal at Cushman & Wakefield | Cornerstone where he specialized in Industrial services. He has over thirty years of experience in commercial real estate, experiencing the peaks and valleys of the industry.
Key Clients• Leasing Agent for
Brick Church Pike Industrial Park
• Represented CWC Logistics with 162,000 sf lease
• Leasing Agent for Kaufman Jacobs’ 900,000 sf Nashville Portfolio
• Leasing Agent for Evergreen Industrial’s 1.2 million Nashville Portfolio
• Prologis Leasing Agent
Credentials• Trustee Chairman of the
Nashville Sertoma Club • Past President, NAIOP
Nashville Chapter• Past Grand Knight,
St. Ann’s Knights of Columbus
• Centre College, B.A. Economics
Sue Earnest, CCIMPrincipal
Sue Earnest specializes in assisting Fortune 500 companies, as well as owner occupied properties, throughout Middle Tennessee with the leasing, acquisition and/or disposition of their real estate, with a focus on the sales and leasing of industrial and commercial properties in Tennessee. Her knowledge of the market, attention to detail, and strong work ethic have resulted in her success and representation of sales and leasing transactions.
Prior to joining Avison Young’s Nashville office, Sue was a Principal and broker with Cushman & Wakefield | Cornerstone and previously Newmark Knight Frank. Sue was also Vice President/Affiliate Broker for the Chas. Hawkins Company Inc/CORFAC International, where she spent six years in sales and leasing of commercial properties, both industrial parks and office buildings. Prior to entering the commercial real estate profession in 1999, Sue worked with National Material Company, a steel coil servicing company for ten years. Here she worked in inside sales, as well as implemented and managed the ISO 9000 standards program for their Middle Tennessee service center.
Key Clients
• Prologis• Intermetro Industries/
The Ali Group• Ivanhoe Cambridge/
Evergreen• Exeter Property Group • XPO Logistics• Carlex Glass America, LLC• Genco Logistics
(now Fed-Ex)• Destaco/ Dover Energy
Credentials
• 2014-2020 CCIM National Board of Directors
• 2017 CCIM Presidential Member Services Liaison
• 2014-2018 NAIOP Member (2018 – Mentor Program)
• 2017 CoStar Power Broker
24 | | 25 Park 840
Warren SmithManaging Director
Warren Smith is a Principal and Managing Director of Avison Young’s Tennessee Offices. Prior to joining Avison Young, Warren Smith was the Chief Executive Officer for Cushman & Wakefield | Cornerstone. Warren focuses on executing clients’ goals at the highest level by fostering a collaborative culture throughout the Nashville, Knoxville, and Memphis teams. He plays an active role in supporting brokerage and management efforts to align client requirements with strategic business, financial, and operational objectives. Warren’s business philosophy is based on building long-term client relationships, as well as growing Avison Young’s coverage of Tennessee through careful recruiting as well as retaining top talent throughout the company. Warren is a graduate of the University of the South and also received his MBA from Duke University. Warren has also served as an adjunct professor of Real Estate Finance at the Owen School of Business at Vanderbilt University.
Key Clients
• Sun Life of Canada• MassMutual• Summit Investment
Partners• TRP Investments• Pinchal & Company• Thrivent Financial• Canyon Johnson• Archerd Bell
Investments• ING Investment
Management• Commercial and
Investment Properties
Credentials
• University of the South - B.A./Economics
• Fuqua School of Business, Duke University - M.B.A.
Carrie RobinsonVice President, Business Development
Carrie Robinson is Vice President, Business Development with Avison Young’s Tennessee offices, where she focuses on promoting the company’s full-service platform to local and national clients. She supports business pursuits with the brokerage and property management teams, as well as with individual brokers, and with Avison Young corporate for multi-market accounts. Due to her background in tracking the Nashville market, Carrie has a unique and deep understanding of Nashville-area real estate trends, leveraging this knowledge to oversee the company’s marketing and research departments with over 17 years of experience.
Previously, Carrie served as Director of Research for Cushman and Wakefield in Nashville (6 years with affiliate and 6 years with corporate office), where she was responsible for managing and maintaining the company’s proprietary database, including property sales and leases, tenant information and company transactions. She assisted in securing and servicing numerous local and institutional owners including: Highwoods, Duke Realty, JP Morgan, Clarion, ProLogis, Panattoni.
Key Clients
• Highwoods• Duke Realty• J.P. Morgan• Clarion• ProLogis• Panattoni
Credentials
• University of Mississippi - B.A. Psychology & English
• 2011 Mark of Excellence Award for Outstanding Professional Services, Cassidy Turley
• 2014 Frank L. Smith Award (first non-broker recipient), DTZ
Resumes
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4
LandlordRepresentation
FacilitiesManagement
Project Management
MarketingServices
CapitalMarkets
PropertyManagement
Consulting
TenantRepresentation
AVISON YOUNG
REAL E S TAT E S E R VICES
A full servicecommercial real estate firm.With an intimate knowledge of the Tennessee market, Avison Young is widely
recognized as a prestigious, best-in-class commercial real estate services firm with an
outstanding reputation for superior service, performance, execution and delivery.
Together with our Knoxville and Memphis offices, Avison Young has 108
professionals in Tennessee, serving clients in every sector, and is the only
commercial real estate firm to span the entire state under common ownership.
28 | | 29 Park 840
avisonyoung.com
© 2019 Avison Young - Tennessee, Inc.The contents of this proposal are intended for the individuals to whom it is presented or delivered and their associates, and should not be shared with anyone outside of Ownership. Any dissemination or replication, without the express authorization of Avison Young, is strictly prohibited. This proposal contains selected information pertaining to the Proposal, which Avison Young views to be accurate.
Buist Richardson, SIORPrincipal
Sue Earnest, CCIMPrincipal
Sarah JamesAssociate
Brokerage
