IREA SUNTRUST STADIUM & THE BATTERY ATLANTA. NationalTire& Battery Absolute NNN Lease Smyrna (Atlanta MSA), GA

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1 NationalTire& Battery Absolute NNN Lease Smyrna (Atlanta MSA), GA IREA TROPHY LOCATION ADJACENT TO THE NEW $1B ATLANTA BRAVES SUNTRUST STADIUM & THE BATTERY ATLANTA

2 Adjacent To Area Auto Center: Infiniti, GMC, Cadillac Hyundai, Chevrolet, & Kia IREA INVE STMEN T REAL ESTATE ASS O CI ATES OF F I C E Ventura Blvd. S u ite 448 Enci no, CA Phone: Fax: Dobbins Air Reserve Base NTB Location WellStar Windy Hill Hospital The Promenade Shopping Center Cumberland Square North INVEST M E N T ADV ISORS Chris Thompson Co b Heritage Pavillion (818) chris@irea.com Cumberland Crossing Shopping Center Spring Ro ad SE less than 1.1 miles away N TB - I R E A bp ark wa ys Cumberland Marketplace Senior Partner 5 min. car ride E( 4

3 Trophy Location I-75 FWY (281K CPD) I-285 FWY (150K CPD) 42 SunTrust Park Home of The kc PD ) The Battery Co bb Pa rk wa y± 39,32 0A DT Contents Investment Highlights 4-5 Investment Overview 6-7 Aerial & Context 8-9 Location Overview Stadium/ The Battery Info Living & Amenities Roxy/ Entertainment Info Omni Hotel/ Hospitality Info Site & Tenant Profile Financials Demographics Cumberland Mall T EA M & TA B L E OF CON T EN TS 3

4 Absolute NNN with 15+ years remaining on base lease and rental escalations every 5 years + options. The Battery Atlanta is a $1.3 billion, 1.5 million square foot mixed-use destination that integrates a state-of-the-art Major League Baseball park with a multi-use development and community. The new home of the Atlanta Braves is the first of its kind, offering an unprecedented entertainment experience 365 days a year. NTB - IREA

5 Major Destination Center Atlanta Braves new $1 billion SunTrust Park and The Battery Atlanta are just 1.1 miles south of NTB. Prime Trophy Location Strategically located in premier retail and office location adjacent to Target Center and on the same street as the new Atlanta Braves SunTrust Stadium & The Battery Atlanta! Adjacent To Area Auto Center Major auto dealerships include Infiniti, Cadillac, GMC, Hyundai, Chevrolet, & Kia (north of subject property). Licensed LYFT Facility This NTB location features a dedicated licensed LYFT facility, with preferred pricing for LYFT vehicles. Highlights Affluent Demographics The area has a five mile population exceeding 211,000 and an average household income of over $94,500. Absolute NNN Lease National Tire & Battery is guaranteed by TBC Corp., one of the nation s largest distributors of automotive tires and a subsidiary of Sumitomo Corp. of America (S&P: A-) High Traffic Location Impressive traffic counts in excess of 42,000 cars per day along Cobb Parkway SE. 281,000 CPD along HWY I-75. Rental Increases & Options Rare CPI 12% rental increases every five years during primary term and the three 5-year options. NationalTire& Battery INVESTMENT HIGHLIGHTS 5

6 Overview Property Type: Single Tenant Absolute NNN Lease Address: 2195 Cobb Parkway SE Smyrna (Atlanta MSA), GA Tenants: National Tire & Battery Rentable Area: 6,922 Sq Ft Land Area: 40,336 Sq Ft (0.926 Acres) Parking: Surface: 26 Spaces Built: 2013 NTB - IREA

7 Investment Overview IREA is pleased to offer for sale a freestanding, ±6,922 square foot National Tire & Battery store situated on acres in Smyrna, Georgia (Atlanta MSA). Built in 2013, the property is operating on an absolute NNN lease with 15+ years of primary term remaining, with three 5-year options to renew. The lease features CPI increases up to a rare maximum of 12% every five years. This NTB location also features a dedicated licensed LYFT facility, with preferred pricing for LYFT vehicles. The property is ideally located on Cobb Parkway (Traffic Count: 42,000 CPD), just 1.5 miles from the intersection of I-285 and I-75 (Combined Traffic Count: 355,000 CPD), within the Cumberland Galleria community, one of metro Atlanta s premier retail and office submarkets. The Cumberland Galleria area is expected to see major growth in the coming years as a result of the recent 2017 opening of the Atlanta Braves $1 billion SunTrust Park and The Battery Atlanta, which when fully completed, will feature approximately 1.5 million square feet of retail, restaurant, residential (approximately 500 residences), hotel and office space. The National Tire & Battery is located only 1.1 miles south of this amazing development. The property is also strategically positioned within one of Atlanta s premier commercial corridors with 8.5 MSF of retail, 24.6 MSF of office, 4.4 MSF of industrial, and 29,341 units of multifamily housing within a 3-mile radius. Other major retailers in the surrounding area include: Target, Best Buy, Aldi, Walgreens, Marshalls, TJ Maxx, PetSmart, Office Depot, OfficeMax, LA Fitness, Bank of America, Chase Bank, and Olive Garden among many others. In addition, the area benefits from infill demographics with a 5-mile population of 211,000 and average household income of $94,500. NationalTire& Battery INVESTMENT OVERVIEW 7

8 Adjacent To Area Auto Center: Local Aerial Infiniti, GMC, Cadillac Hyundai, Chevrolet, & Kia Dobbins Air Reserve Base I-285 FWY (150K CPD) I-75 FWY (281K CPD) NTB Location SunTrust Park Home of The WellStar Windy Hill Hospital The Promenade Shopping Center Cumberland Square North Heritage Pavillion Co b bp ark wa ys Cumberland Marketplace Cumberland Crossing Shopping Center less than 1.1 miles away E( 42 5 min. car ride KC PD ) Co bb Spring Rnear Located oad SE the heart of the area s dominate destination center Atlanta SunTrust Park & The Battery Atlanta N TB - I R E A Pa rk wa y± The Battery 3 The Shops at Cumberland Shopping Center Cu mb erl an db lvd SE 9,3 2 0A DT Cumberland Mall

9 Aerial Provided less than 18 miles away 30 min. car ride Downtown ATL Context Map NationalTire& Battery AERIAL & CONTEXT MAPS 9

10 SunTrust Park Home of The I-75 FWY (281K CPD) Cobb Parkway SE (42K CPD) The Battery The Battery Atlanta is the South s preeminent NEW lifestyle destination. NTB - IREA

11 Premier Trophy Location Located along I-75 and I-285, The Battery Atlanta is a 1.5 million-square-foot mixed-use development in the Cumberland area. Anchored by SunTrust Park - the new home of the Atlanta Braves - The Battery Atlanta combines a variety of architectural styles to produce the ultimate live, work, shop, and dine environment. This premier location has become the area s dominate destination center. The area surrounding NTB is one of Atlanta s preeminent retail, office, and hotel centers with approximately 40 hotels within 3 miles, operated by national brands including Marriott, Sheraton, Hyatt, Renaissance, Hilton, Holiday Inn, and Hampton Inn & Suites. Additionally, the Cumberland office submarket is the second-largest in the Atlanta metropolitan area, with total rentable area of approximately 25.6 MSF. Cumberland-Galleria is home to 76,400 jobs and is expected to add 50,000 more jobs over the next 30 years. Many Fortune 500 and international companies have a significant presence in the Cumberland-Galleria area, including corporate headquarters for The Home Depot, GE Energy Management, Travelport, and The Weather Channel. National Tire & Battery s location next to this exceptional development offers a prospective purchaser entry into a high growth, A class market that is positioned to thrive. NationalTire& Battery LOCATION OVERVIEW 11

12 More than a few dining options! For most Atlanta Braves fans visiting SunTrust Park for the first time, the focus will likely be on the game. But where do you gear up for the action or wind down after it s over? The Battery, the entertainment complex attached to the park, offers up spots to throw back a cold beer, down a gourmet sausage or chow down on a burger or BBQ. NTB - IREA

13 Atlanta Braves SunTrust Park & The Battery Atlanta The Battery Atlanta is a $1.3 billion, 1.5 million square foot mixeduse destination that integrates a state-of-the-art Major League Baseball park with a multi-use development and community. The new home of the Atlanta Braves is the first of its kind, offering an unprecedented entertainment experience 365 days a year. The Battery redefines the traditional model of a live, work, play development into a play, work, stay destination, with SunTrust Park as its crown jewel. Featuring upwards of 400,000 square feet of unique and experiential retail including restaurants by some of Atlanta s most acclaimed chefs, 400,000 square feet of new class A office adding to the area s already booming daytime population, and over 500,000 square feet of residential in the immediate area. 2 3 MILLION PROJECTED FAN VISITS PER YEAR 37% INCREASE IN GAME ATTENDANCE NationalTire& Battery THE BATTERY & SUNTRUST PARK 13

14 Home at the Battery Atlanta Home at The Battery Atlanta is a brand-new collection of spacious residences, modern flats and styled amenities located at the doorstop of the Atlanta Braves new home, SunTrust Park. There are three apartment communities named Residences, Parkside and Flats that together make up Home at The Battery Atlanta (500+ units altogether). Residences will have 81 apartments overlooking The Battery s epicenter. These units will enjoy rooftop bars, lounges, TV gallery and wrap-around balcony with views of SunTrust Park. For more info visit: NationalTire& Battery NTB - IREA

15 Parkside Apts. Residences Apts. Flats Apts. Living with a view! LIVING & AMENITIES 15

16 The Coca-Cola Roxy The Coca-Cola Roxy, Atlanta s brand-new concert venue, opened in April of The 3,600 capacity venue is located in The Battery Atlanta, a mixed-use development next to SunTrust Park, home of The Atlanta Braves. It is conveniently located near the intersection of interstates 75 and 285. The new two-tiered intimate venue has a flexible configuration including a general admission floor, theatre-style seating and permanent seating in the balcony. Both levels are ADA wheelchair accessible. The 53,000 square foot site has state of the art sound, lights and production capabilities for live music, corporate meetings and private events. The Coca-Cola Roxy hosts approximately 40 shows per year and presents a diverse range of local, national and international artists and bands. NationalTire& Battery NTB - IREA

17 Entertainment just steps away ROXY/ ENTERTAINMENT 17

18 Omni Hotel & Resort A unique city full of dining, sports, entertainment, and adventure, Atlanta is the perfect travel destination. Omni Hotel at The Battery Atlanta offers an exclusive experience to stay in the center of The Battery Atlanta and SunTrust Park and access to other popular attractions: Coca Cola Roxy Theater, Six Flags Over Georgia, The Georgia Aquarium and more. Catch a game at SunTrust Park, grab dinner at the multiple dining options at The Battery Atlanta, or catch a show at the Coca Cola Roxy Theater. Everything you need for a memorable stay is in walking distance from Omni Hotel at The Battery Atlanta. For more info visit: The Battery Holiday Bash! NationalTire& Battery NTB - IREA

19 Relax and soak up some rays at the Omni Hotel elevated pool deck while enjoying premium views of The Battery Atlanta. For ultimate relaxation, indulge poolside with refreshing beverages and American bites at our pool bar! A Memorable experience! List of Nearby Hotels & Walking-Distance In Minutes 1) DoubleTree Suites by Hilton Hotel (4 Min) 2) Hyatt Place Atl. (13 Min) 3) Renaissance Atl. Waverly Hotel (25 Min) 4) Residence Inn (18 Min) 5) Sheraton Suites (16 Min) 6) Wingate by Wyndham (12 Min) OMNI HOTEL/ HOSPITALITY INFO. 15

20 COBB PARKWAY SE (US HWY 41) Site Diagram NTB - IREA

21 National Tire & Battery Originally founded in 1997 by Sears and sold to Sumitomo Corporation in 2003, National Tire & Battery is a subsidiary of TBC Corporation, one of the largest marketers and distributors of automotive tires in the U.S. The company has more than 10,500 employees throughout the U.S., Canada, and Mexico and operates four retail tire and automotive service center brands (Tire Kingdom, Big O Tires, Merchant s Tire & Auto Centers, and National Tire & Battery) with more than 1200 total locations, 38 tire distribution centers under the Carroll Tire Company brand, and through its TBC Brands division represents thirteen proprietary tire brands. The company has been an independent wholly-owned subsidiary of Sumitomo Corporation of America (S&P: A-) since SCOA purchased TBC Corporation in 2005, taking TBC private after 22 years of being publicly traded. NTB offers a full array of automotive products and services, including oil changes, wheel alignments, tire rotation and installation, battery and wiper blade replacement, and suspension inspections, all performed by ASE-certified technicians. NationalTire& Battery SITE & TENANT PROFILE 21

22 NationalTire& Battery Absolute NNN Lease 2195 Cobb Parkway SE, Smyrna (ATL MSA), GA, Financial Setup Financial Indicators Purchase Price: $3,870,000 Down Payment: 100% $3,870,000 Property Abstract Lease Begin: 4/15/13 Lease Expire: 4/30/33 (15+ Yrs. Remaining) Approx. Lot Size: 40,336 (0.926 Acres) CAP Rate: 4.70% Cash on Cash Return: 4.70% Net Square Feet: 6,922 Year Built: 2013 Parking: 26 Spaces Annual Rents Cap Rate $169,914 Current to 4/30/ % $181,800 5/1/2018 to 4/30/ % $203,616 5/1/2023 to 4/30/ % $228,050 5/1/2028 to 4/30/ % Notes Property to be delivered free of debt. Three 5-year options following base lease. CPI rent escalations every 5-years max rare 12%, next bump in 2023 Information deemed reliable, but not guaranteed. TROPHY LOCATION ADJACENT TO THE NEW $1B ATLANTA BRAVES NTB - IREA SUNTRUST STADIUM & THE BATTERY ATLANTA

23 Highlights Investment Highlights Absolute NNN Lease w/ 15+ Years Remaining on Base Term Affluent Region w/ Average Household Income Exceeding $94,500 Population Density Exceeds 211,000 Within a Five Mile Radius CPI Rent Escalations Every 5-Years, Max Rare 12%, Next Bump in 2023 Highly Traffic Count Location w/ over 42,000 Cars Per Day Within 1.1 Miles of Area's Destination Center: The Battery at Atlanta Braves Stadium Three 5-Year Options To Renew Premier Retail Location TROPHY LOCATION ADJACENT TO THE NEW $1B ATLANTA BRAVES SUNTRUST STADIUM & THE BATTERY ATLANTA FINANCIALS 23

24 Affluent Demographics: Five mile population exceeding 211,000 and an average household income of over $94,500. NTB By The Numbers (5, 3, & 1 Mile Radius) Total Population Mile: 211, Mile: 97, Mile: 14, * 5 Mile: 225, Mile: 104, Mile: 16,026 Total Average Household by Income Mile: $94, Mile: $80, Mile: $55, * 5 Mile: $107, Mile: $93, Mile: $66,796 Total Median Household by Income Mile: $58, Mile: $55, Mile: $41, * 5 Mile: $68, Mile: $63, Mile: $48,720 Total Businesses & Employees Within 1 Mile Radius Within 2 Mile Radius Within 5 Mile Radius 1,237 & 15,747 6,913 & 112,710 11,774 & 169,751 Demographics *Projected 2022 GARVEY NTB - IREA EXCHANGE - IREA

25 NTB By The Numbers (5 Mile Radius/ Subject Property) Households By Income The largest group: $35,000 - $49,999 (19.5%) The smallest group: $200,000+ (1.5%) Indicator Value Difference <$15, % +2.8% $15,000 - $24, % +6.0% 13% EDUCATION $25,000 - $34,999 $35,000 - $49,999 $50,000 - $74,999 $75,000 - $99,999 $100,000 - $149,999 $150,000 - $199,999 $200, % 19.5% 18.0% 9.5% 9.6% 1.9% 1.5% +7.1% +7.6% -0.1% -3.0% -7.9% -5.8% -6.7% No High School Diploma 16% High School Graduate 29% Some College 41% Bachelor's/Grad/Prof Degree Bars show deviation from EMPLOYMENT INCOME Cobb County White Collar 62% 17% 6.4% $41,325 Median Household Income $27,466 Per Capita Income $12,012 Median Net Worth Blue Collar Services BUSINESS 21% Unemployment Rate KEY FACTS 14,982 Population 30.3 Median Age 1,237 15, $41,325 Total Businesses Total Employees Avg Household Average Size Median Median Household Household Income Sources: IREA; ESRI Information Services; U.S. Census Bureau of Labor Statistics; Wikipedia; Fortune/Money.CNN.com; Forbes; Business Insider;Moody's; Zillow; Trulia; City of Glendale; Los Angeles County; Los Angeles Times; REIS; California Association of Realtors; DataQuick; Curbed LA; Glendale News-Press; San Fernando Valley Business Journal; Glendale Unified School District; Glendale Community College; ThinkGlendale.com; Los Angeles Times. DEMOGRAPHICS 25 NTB - IREA THE INFORMATION PROVIDED HEREIN IS FROM SOURCES WE BELIEVE ARE RELIABLE. WHILE WE DO NOT DOUBT ITS ACCURACY, WE HAVE NOT VERIFIED IT AND MAKE NO REPRESENTATIONS, GUARANTEES OR WARRANTIES ABOUT IT.

26 IREA INVESTMENT REAL ESTATE ASSOCIATES OFFICE Ventura Blvd. Suite 448 Encino, CA Phone: Fax: INVESTMENT ADVISORS Chris Thompson Senior Partner (818) NationalTire& Battery NTB - IREA