INVESTMENT SALE PRICE REDUCED 124 GATEWAY DRIVE, RINGGOLD, GA OFFERING MEMORANDUM. l (423)

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1 PRICE REDUCED OFFERING MEMORANDUM INVESTMENT SALE 124 GATEWAY DRIVE, RINGGOLD, GA J Bryan Rudisill, SIOR l Vice President jbr@charterre.com l (423) William K. Woltz III l Partner wwoltz@triadcommercial.com l (336) GATEWAY DRIVE

2 SINGLE TENANT INDUSTRIAL MULTI-BAY I WAREHOUSE IN RINGGOLD, GEORGIA PRICE PER SF SQUARE FOOTAGE LAND AREA PARCEL ID REAL ESTATE TAXES OCCUPANCY YEAR BUILT RENOVATED ZONING JURISDICTION $85.71 PSF 21,000 +/- SF /- Acres 037C $13, % C-3 (COMMERCIAL) RINGGOLD (CITY) PRICE: NOI: YR INCREASE: CAP: $1,800,000 $149,460 CPI 8.3% NAI Charter is pleased to offer for sale an industrial facility off I-75 in Ringgold, GA. The subject is secured by a lease with Clarke Power Services, Inc. The information contained herein has been given to us by the owner or other sources we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it. All information should be verified by the Purchaser. 124 GATEWAY DRIVE 2

3 INVESTMENT HIGHLIGHTS TENANT HISTORY Detroit Diesel and Allison Transmission Distributor facility since 1991 and occupied by Clarke Power Services since SUPERB LOCATION Hwy 2A (Battlefield Pkwy) in Ringgold, Georgia. STRONG NEIGHBORS Old Dominion, UPS, Wilson Trucking, Premier Truck Group, Circle K & Hampton Inn. LONG TERM LEASE Lease expires May 31, STRONG VISIBILITY AND ACCESS Gateway Drive parallels to I-75 and is highly visible to I-75 and offers easy access to and from I-75 with Traffic counts of 82,200 VPD on I-75 and 9,690 VPD on Hwy 2A. 124 GATEWAY DRIVE 3

4 BUILDING DETAILS & PHOTO Building Details Improvements 21,228 SF (3,704 SF Office Space) Construction Pre Engineered Steel Frame Facade Split RB Brick Doors x14 Doors / 2-10 Doors Docks 1 - Exterior Pit Dock Ceiling Height 20 Building Includes Warehouse Parts Room Mezzanine Shop Area Dyno Room Wash Bay Oil Separator Customer Lounge Break Room Power Lighting 124 GATEWAY DRIVE 4

5 AERIAL FACILITY 124 GATEWAY DRIVE 5 Gateway Drive North GA Foot & Ankle Smitherman Rd 82,200 VPD 9,690 VPD Battlefield Pkwy (2A)

6 DEMOGRAPHICS 2017 Population 1 Mile Radius 2,714 3 Mile Radius 19,102 5 Mile Radius 46, Average Household Income 1 Mile Radius $51,338 3 Mile Radius $61,274 5 Mile Radius $66, Total Households 1 Mile Radius 1,053 3 Mile Radius 7,141 5 Mile Radius 17, Average House Value 1 Mile Radius $174,907 3 Mile Radius $181,267 5 Mile Radius $193,263 Traffic Counts I-75 82,200 Battlefield Pkwy 9,690 Sequoyah Crossing 6

7 SINGLE TENANT Founded in 1964, Clarke Power Services is a commercial vehicle maintenance provider with an outstanding 50+ year track record of delivering value to the transportation and service industries. Clarke offers a comprehensive portfolio of service offerings, or can customize solutions to meet your unique business requirements. Their commitment is to keep your assets working by delivering great service and to keep your equipment life-cycle costs on track. Clarke supports fleets of all sizes and equipment types. Offering a spectrum of capabilities from complete outsourcing to individual truck repairs and PMs. Each location has a full inventory of parts available and a staff of OEM certified mechanics. Clarke is an authorized service center for Detroit Diesel, Mercedes-Benz Truck engines, Sterling Trucks, Allison Transmission, and is a member of the WheelTime network GATEWAY DRIVE 7

8 CHATTANOOGA MARKET OVERVIEW Chattanooga, Tennessee is a burgeoning, dynamic city located in the southeast corner of Tennessee, 135 miles from Nashville, 145 miles from Birmingham, 110 miles from Knoxville and 120 miles from Atlanta. Chattanooga, the 4th largest city in the state, boasts a rapidly growing population, favorable climate, fiscal integrity, rejuvenated urban core, strong corporate demand and economic development, significant tourism and enviable recreational attractions. The city hosts a diverse and thriving downtown with over 50,000 daytime employees and 11,00 students attending the University of Tennessee at Chattanooga. Chattanooga has been rated as one of the best places to do business as the local government along with various private and philanthropic organizations have worked together to limit barriers to entry and red tape for new business ventures and to help existing local, regional, national, and international companies invest in the area. This has helped Chattanooga to attract widely recognizable companies to the area. Moreover, the quarter mile Innovation District located in Chattanooga s CBD has revitalized residential relocation to the area and inspired high-tech companies, start ups, and entrepreneurs to establish presences in incubators scattered throughout the district and eventually shift to more permanent headquarters in the Downtown area. The Chattanooga MSA enjoys a strong and robust regional economy based in a variety of industries including technology and transportation, manufacturing, and healthcare services. Top employers within the region range from nationally recognizable organizations such as Amazon.com and BlueCross BlueShield to international businesses such as Volkswagen, which recently developed a massive manufacturing plant in Chattanooga. In the last five years, over $4 Billion has been invested in the area by a variety of companies including Wacker with over $2 Billion invested, Volkswagen with over $1 Billion invested, Amazon.com with over $139 Million invested, and Whirlpool with $120 Million invested. Chattanooga is home to many well-known and nationally recognized attractions, arts and cultural centers, festivals, and outdoor activities. The World publication, owned by The New York Times, recently named Chattanooga as one of the Top 45 Places to Go. The City also boasts a well-manicured 13-mile Riverwalk along the Tennessee River that offers residents and tourists the opportunity to walk, run, or bike along the trails and pathways as well as relax in one of the many parks along the river. 8

9 CHATTANOOGA QUICK FACTS City of Chattanooga population: 176,588 Chattanooga MSA Population: 549,016 Tourism: 3 million people visit Chattanooga annually; bringing $750 MM in revenue. Attractions: The Tennessee Aquarium (1MM visitors a year) Rock City Ruby Falls Hunter Museum of American Art Symphony & Opera Association The Tivoli Creative Discovery Museum Chattanooga Zoo Chickamauga Lake Events: Riverbend Music Festival (attracts over 600,000 each year) Head of the Hooch Regatta (second largest rowing regatta in the US) Ironman Triathlon Three Sisters Bluegrass Festival Major Employers: Company Product/Service Full-Time Employees BlueCross BlueShield of Tennessee Health Care Financing 4,899 Hamilton County Dept. of Education Elementary & Secondary Schools 4,508 Erlanger Health System Hospital 4,384 Tennessee Valley Authority Utility - Electric Service 3,786 Amazon.com Distribution Center 3,312 Unum Insurance 2,800 McKee Foods Corporation Manufacturing Cakes & Cookies 2,700 CHI Memorial Health Care 2,602 City of Chattanooga Government 2,250 Volkswagen Chattanooga Manufacturing Automobiles 2,177 Nashville 135 miles Chattanooga 145 miles Birmingham Knoxville 120 miles 110 miles Atlanta 124 GATEWAY DRIVE 9

10 CONTACT INFORMATION J Bryan Rudisill, SIOR jbr@charterre.com l (423) Vice President NAI Charter 414 Vine Street Chattanooga, TN (423) William K. Woltz III wwoltz@triadcommercial.com l (336) Partner Triad Commercial 628 Green Valley Road Suite 202 Greensboro, NC (336) GATEWAY DRIVE 10