The Park At Greenbriar Atlanta, Georgia 209 Units Built 1971

Transcription

The Park at GreenbriarGreystone BrownReal Estate AdvisorsAtlanta, Georgia209 UnitsBuilt 1971Average Unit Size 1,024 SFConfidential andExclusive Offering

PROPERTY VISITSProspective buyers will have the opportunity to visit the property via prescheduled property tours.These tours will include access to a sampling of available units and limited access to propertypersonnel. In order to accommodate the ongoing operations, property visitation will require at least48 hours’ notice. No property tours will be allowed without a scheduled appointment and prospectivepurchasers may not visit the property or contact the property, staff, and tenants without beingaccompanied by a representative from Greystone Brown Real Estate Advisors.BID DEADLINE / OFFER SUBMISSIONThe bid deadline will be announced shortly. Offers should be presented in the form of a non-bindingLetter of Intent, spelling out the significant terms and conditions of Purchaser’s offer including,but not limited to: (1) asset pricing, (2) due diligence and closing time frame, (3) earnest moneydeposit, (4) a description of the debt/equity structure, (5) an explanation of capital sources, (6) anycontingencies that may exist, and (7) specific explanation of who should pay closing costs.The Park at Greenbriar3000 Continental Colony Parkway SWAtlanta, Georgia 30331Barden BrownSenior Managing Director678.894.2221barden@brownra.comTaylor BrownDirector678.894.2219taylor@brownra.comBo BrownPresident and CEObo@brownra.comGreystone Brown Real Estate Advisors1303 Hightower Trail, Suite 205Atlanta, Georgia 30350(O) 770.594.1915(F) 770.594.7065www.brownra.com

Table of Contents4-8INVESTMENT SUMMARYProperty HighlightsLocal MapLocal Aerials9-16PROPERTY DESCRIPTIONUnit and Community FeaturesPhotographsFloorplansLow AerialTax Parcel Diagram17-25 LOCATION DESCRIPTIONMetro MapDistrict MapLocal AerialsArea OverviewDemographic Summary26-33 FINANCIAL ANALYSISExecutive Financial SummaryUnit MixOperational Analysis and Pro FormaPro Forma AssumptionsCollections SummaryFive-Year AnalysisSales Comparables34-49 RENTAL MARKET AND COMPARABLESRental Market OverviewRent Comparables Map and SummaryRent Analysis – Unit RankingsThe Park at Greenbriarbrownra.com

INVESTMENT SUMMARYProperty HighlightsASSET INFORMATIONINVESTMENT HIGHLIGHTS More than 2 million has been injected into capitalimprovements since 2014.The Park at Greenbriar3000 Continental Colony Parkway SWAtlanta, Georgia 30331Year BuiltNumber of UnitsAverage Unit Size (SF)Rentable Square FeetNumber of Residential BuildingsNumber of LevelsAcreageUnits Per AcrePhysical Occupancy (December 2017) All roofs were replaced and exteriors were painted.19712091,024213,9809223.458.9195.0%# of UnitsUnit TypeSize (SF)2324465033171 BR / 1 BA Garden7008009401,0601,1501,150162092 BR / 2 BA Garden2 BR / 1.5 BA Townhouse3 BR / 2 BA Garden3 BR / 2.5 BA TownhouseAverages/Totals Half of units received new HVAC compressors and/orfurnaces. Two units have received upgrades, which include newkitchen cabinet doors. These upgraded units are receiving 80 rent premiums per month. The property opens to Greenbriar Parkway/ContinentalColony Parkway (24,900 vehicles per day).Please see following page.2 BR / 1 BA Garden Each unit received a new electrical panel. Since 2000, the population soared has 49% within a onemile radius of the asset.OFFERING SUMMARY1 BR / 1 BA Townhouse Central water boilers were replaced with individual electricwater heaters. To achieve this, each unit was replumbedand put on an individual meter. Now that residents arebilled directly, water bills are down by 40%.1,5601,024The Park at Greenbriar Convenient to four interstates and major employment hubs,especially Atlanta’s international airport (64,000 jobs).Proximate to rapidly expanding Airport Market, IncludingAerotropolis and Airport Gateway Center. Easy commutes to prominent southside growth andredevelopment areas, especially Tyler Perry’s film studiodevelopment at Fort McPherson (four miles from subject),plus Fort Gillem and Aerotropolis. Minutes from 1.2 million SF Camp Creek Marketplace powercenter and its adjacent business parks. Continued revitalization of south and west Atlanta isgenerating thousands of new jobs.brownra.com1

INVESTMENT SUMMARYInvestment HighlightsPark at Greenbriarproperty overviewGeneral InformationFinancial SummaryProperty:Park at GreenbriarAddress:3000 Continental Colony ParkwayAtlanta, GA 30331Year Built / Renovated:Number of Units:Average Sq. Ft.:Rentable Sq. Ft.Acreage:Units / Acre:Number of BuildingsZoning:Physical Occupancy (December 2017)Economic Occupancy (December 2017)Average Monthly CollectionCurrent ExpensesProforma Expenses1971 / Ren.20152091,024214,00023.458.9117RG2, R494.99%87.55% 146,429 995,730 ( 4,764 / Unit) 1,028,376 ( 4,920 / Unit)The Park at GreenbriarSensitivity AnalysisDec Inc. / ProformaExp. NOICap RateValue6.25%6.50%6.75%7.00%7.25% 774,072 774,072 774,072 774,072 774,072 12,385,145 11,908,793 11,467,727 11,058,165 10,676,849Proforma Net Operating Income Per Unit59,25956,98054,87052,91051,085 1,131,704Loss to Lease Burnoff NOI 956,248December Income / Proforma Expenses Annualized NOI 774,072December Income / T-6 Expenses Annualized NOI 793,746T-3 Income / T-6 Expensees Annualized NOI 761,446brownra.com2

INVESTMENT SUMMARYDistrict Map with Economic HighlightsClose-in map - Cascade rMallAtlantaMed. Ctr.SouthPark atGreenbriarPiedmontDriving ClubGolf CourseCamp nterGA InternationalConvention Ctr.Aerotropolis /Porsche HQHartsfield-JacksonAtlanta International AirportMajesticAirportCenter II0 mi12Copyright and (P) 1988–2012 Microsoft Corporation and/or its suppliers. All rights reserved. http://www.microsoft.com/mappoint/Certain mapping and direction data 2012 NAVTEQ. All rights reserved. The Data for areas of Canada includes information taken with permission from Canadian authorities, including: Her Majesty the Queen in Right of Canada, Queen's Printer for Ontario.NAVTEQ and NAVTEQ ON BOARD are trademarks of NAVTEQ. 2012 Tele Atlas North America, Inc. All rights reserved. Tele Atlas and Tele Atlas North America are trademarks of Tele Atlas, Inc. 2012 by Applied Geographic Solutions. All rights reserved.The Park at Greenbriarbrownra.com33

INVESTMENT SUMMARYNCAN ROADLTLANGFORD PKWY.AtlantaTechScreen Gems /LakewoodStudiosLA NG FO RD PK WY.East PointIndustrialParkEast PointGreenbriarMallCamp CreekMarketPlace(1.2 Million SFand 2,000 Jobs). 29/ MAIN STREETLLTOELFortMcPhersonADPark atGreenbriarCollege CREEU.SBEY132 ,00 0 VE HIC LE S PE R DACAMPBMPROONU.S. 29/ LEE STREETLocal Aerial with Economic HighlightsDeltaAirlinesHQK he Park at GreenbriarHapevilleFedExHubAerotropolis /Porsche HQHartsfield-JacksonAtlanta International Airportbrownra.com4

INVESTMENT SUMMARYLocal ADLAND DR.CONTINENTALKrogerCOY132 ,00 0 VE HIC LE S PE R DALONYPKWY.Greenbriar MallPark entaryNThe Park at Greenbriarbrownra.com5

PROPERTY DESCRIPTIONAmenities and FeaturesCOMMUNITY AMENITIESUNIT FEATURES Fully-equipped Kitchen Frost-free Refrigerator Separate Dining Area* Patio/Balcony Washer/Dryer Connections* Faux Wood Vinyl Flooring* Fireplace* Walk-in Closet(s)* Storage Closet* Ceiling Fan(s) Window Blinds Leasing Office Swimming Pool Fitness Center Picnic Area Playground Laundry Facility Mail Kiosk Mature Landscaping Near Bus Line* In select unitsThe Park at Greenbriarbrownra.com1

PROPERTY DESCRIPTIONStructural DetailsHighlightsYear Completed1971Year Renovated2015Number of Units209 UnitsAverage Square Feet1,024 SF per UnitTotal Square Feet213,980 SFSite DetailsSite Size/Density23.45 Acres / 8.91 Units Per AcreAddress3000 Continental Colony Parkway SW, Atlanta, GA 30331Parking250 parking spacesAccessOne ingress/egress point to Continental Colony Pkwy. SWImprovementsNumber of Buildings9 two-story residential buildings and a stand-alone leasing/activity buildingRoofsFlat roofs; all were replaced within the last two years.FoundationConcrete slabsExterior MaterialsStuccoBreezewaysPartly covered exterior stairsPatio/BalconyEvery unit has a patio or balcony.PlumbingNew underground cold water lines. Gas central water boilersystem was recently replaced; every unit was replumbed,set to an individual meter, and supplied with an individualelectric water heater.HVACIndividual, electric forced-air system with interior closetmounted air handler and exterior pad-mounted condensingunit.Gas/ElectricElectric except for gas heating and cooking.WiringCopperThe Park at Greenbriarbrownra.com2

PROPERTY DESCRIPTIONAmenity PhotosThe Park at Greenbriarbrownra.com3

PROPERTY DESCRIPTIONExterior PhotosThe Park at Greenbriarbrownra.com4

PROPERTY DESCRIPTIONFloorplans1 Bedroom / 1 Bath700 Square Feet1 Bedroom / 1.5 Bath Townhouse800 Square Feet2 Bedroom / 1 Bath940 Square Feet2 Bedroom / 1.5 Bath Townhouse1,150 Square FeetThe Park at Greenbriarbrownra.com8

PROPERTY DESCRIPTIONFloorplans2 Bedroom / 2 Bath1,060 Square Feet3 Bedroom / 2 Bath1,200 Square Feet3 Bedroom / 2.5 Bath Townhouse1,060 Square FeetThe Park at Greenbriarbrownra.com9

PROPERTY DESCRIPTIONLow AerialL E S P E R D AY13 2, 00 0 V E H ICTyler PerryStudioOriginalCampusCONTINENTAL COLONY PKWY.GREENBRIAR PARKWAYPark atGreenbriarContinentalColonyElementaryNThe Park at Greenbriarbrownra.com10

PROPERTY DESCRIPTIONTax Parcel DiagramAn exterior border is drawn around the four parcels.Source: Fulton County Tax Assessor’s websiteThe Park at Greenbriarbrownra.com11

LOCATION DESCRIPTIONSouth Fulton and North Clayton CountiesSouth Fulton and North Clayton, unlabeledFultonCountyAirportDecaturICTSix INESSDAT L A N TAFULTONFortMcPhersonGreenbriarMallMajesticAirport IVIndustrialParkEast PointPark atGreenbriarPiedmontDriving ClubGolf CourseCamp CreekMarketPlaceCampCreekBusinessCenterCollege ParkGA InternationalConvention Ctr.MajesticHapevilleDeltaAirlinesHQ Aerotropolis /Porsche HQHartsfield-JacksonAtlanta InternationalAirportAirport I IIndustrialParkLakewoodScreenGemsStudioGA StateFarmersMarketForest ParkChick-fil-AHQFort dale0 mi24MorrowCopyright and (P) 1988–2012 Microsoft Corporation and/or its suppliers. All rights reserved. http://www.microsoft.com/mappoint/Certain mapping and direction data 2012 NAVTEQ. All rights reserved. The Data for areas of Canada includes information taken with permission from Canadian authorities, including: Her Majesty the Queen in Right of Canada, Queen's Printer for Ontario.NAVTEQ and NAVTEQ ON BOARD are trademarks of NAVTEQ. 2012 Tele Atlas North America, Inc. All rights reserved. Tele Atlas and Tele Atlas North America are trademarks of Tele Atlas, Inc. 2012 by Applied Geographic Solutions. All rights reserved.The Park at Greenbriarbrownra.com61

LOCATION DESCRIPTIONFort McPherson and Airport AreaMap 1 - Bent Creek StudioEast PointIndustrial ParkGreenbriarMallPark atGreenbriarEast PointAtlantaMed. Ctr.SouthPiedmontDriving ClubGolf CourseCamp llege ParkMGA InternationalConvention Ctr.SyscoFoodsMDeltaAirlinesHQAerotropolis /Porsche HQHartsfield-JacksonAtlanta tlingChick-fil-A HQM MARTA rail station0 mi123Copyright and (P) 1988–2012 Microsoft Corporation and/or its suppliers. All rights reserved. http://www.microsoft.com/mappoint/Certain mapping and direction data 2012 NAVTEQ. All rights reserved. The Data for areas of Canada includes information taken with permission from Canadian authorities, including: Her Majesty the Queen in Right of Canada, Queen's Printer for Ontario.NAVTEQ and NAVTEQ ON BOARD are trademarks of NAVTEQ. 2012 Tele Atlas North America, Inc. All rights reserved. Tele Atlas and Tele Atlas North America are trademarks of Tele Atlas, Inc. 2012 by Applied Geographic Solutions. All rights reserved.The Park at Greenbriarbrownra.com42

LOCATION DESCRIPTIONCamp Creek and Airport AreaHolmesGolfD.NRCourseOTLLBEPMCAL LTONRD.Park atGreenbriarROADGTONCamp CreekMarketPlace(1.2 Million SFand 2,000 Jobs)INPiedmontDriving ClubGolf CourseWASHCOLLEGE PARKSouthmeadowIndustrialParkCamp CreekBusn. Ctr.CAMPRD PKWY.East PointIndustrialParkEAST ionCenterBrown’sMill GolfCourseAtlantaMed. Ctr.SouthHAPEVILLEDeltaAirlinesHQ FedExHub Aerotropolis /Porsche HQK PKW Y.(ADT, Amazon,FedEx, Dick’sSporting Goods,Jaguar, FAA)Hartsfield-JacksonAtlanta r II(Costco, GE,EUE/ScreenGemsStudioLANGFO. 29/ MAIN e/U .S . 2 9V E LTROOSEP K W Y.Coca-ColaBottlingKellogg’s, S . F U LTO N PK W Y.Naturally Chick-fil-ANewellFreshCorp. HQRubbermaid)Dist. Ctr.BriggsEquipmentFORESTPARKStateFarmersMarketDel Monte,The Park at GreenbriarRIVERDALEbrownra.comN3

LOCATION DESCRIPTIONSouth Atlanta and Airport DistrictGreenbriarMallCamp CreekMarketplace(1.2 Million SFPiedmont and 2,000 Jobs)Driving ClubGolf CourseEAST POINTCAMPHartsfield-JacksonAtlanta InternationalAirportAD(new distribution centersHWY. 85IVDALfor Kroger and ES3)ClaytonStateUniversitySouthernRegionalMed. Ctr.U.S. 19 / 41RIVERDALED.E R(Kraft, P&G)OldNationalMarketPlaceRMajesticAirportCenter IIIhhgreggDistributionCenterFOREST PKWY.EMetroAtlantaStudiosStateFarmersMarketFort GillemRedevelopment AreaChick-fil-ACorp. HQRUNIONCITYOO RBriggsEquipment(Costco, GE,Kellogg’s,Del Monte,NewellRubbermaid)ORCoca-ColaBottlingFOREST icAirportCenter IIK PKWY.HAPEVILLEDeltaAirlinesAerotropolis /HQFedEx PorscheHubHQJO(ADT, Amazon,FedEx, Dick’sSporting Goods,Jaguar, FAA)CREEBrown’sMill GolfCourseAtlantaMed. Ctr.SouthPark atGreenbriarCOLLEGE PARKCamp CreekBusn. Ctr.East hlakeMallChimeIndustriesMorrowIndustrialMORROWSAPO TEW LLIER TECE RENT TAER ILSParkThe Park at Greenbriarbrownra.com4

LOCATION DESCRIPTIONSouth Fulton and North Clayton CountiesATLANTA’S DYNAMIC SOUTH SIDEThe Park at Greenbriaris located in south FultonCounty, six miles southwest of downtown Atlanta.The metro’s south side,mainlycomprisedofsouth Fulton County andnorth Clayton County, iseconomically focused onHartsfield-Jackson AtlantaInternational Airport, theworld’s busiest passengerhub, and the extensive Downtown Atlanta viewed from southairport-centered network of industrial, service, and distribution facilitiesthat benefit from the area’s excellent air, rail, and highway freight services.passenger and cargo capacity. This five-year project added a 1.5 billioninternational terminal, North America’s tallest control tower, and a 9,000foot fifth runway, among many other upgrades. A new 6 billion masterplan calls for a sixth runway, new parking decks, and new or renovatedterminals and concourses.Delta Airlines is headquartered near the airport, its primary hub, andemploys 30,000 Atlantans. In 2008, the merger of Delta with Northwestcreated the one of the world’s largest airlines. Other prominent employers near the airport include a major FedEx air cargo hub, Wells Fargo’sOperations Center, the Georgia International Convention Center, andlarge facilities for Sysco Food Services and Coca-Cola Bottling.Interstates 20, 75, 85, 285, and 675 traverse the south side, providingaccess to the airport as well as direct routes north to Atlanta’s CentralBusiness District and to other major employment hubs throughout themetro area. U.S. 19 and Georgia highways 54, 85, 138 and 331 are otherprominent arteries.Other southside economic drivers include the 1.2 million SF Camp CreekMarketplace lifestyle center, Porsche North America’s headquarters,Southern Regional Medical Center, Chick-fil-A headquarters, ClaytonState University, Southlake Mall, and the district’s numerous industrialparks, especially the massive industrial/warehouse zones near the airportand all along Fulton Industrial Boulevard. Significant future employmentwill be generated by the “Aerotropolis” business park and redevelopmentof two closed army bases, Fort McPherson and Fort Gillem.Hartsfield-Jackson Atlanta International AirportThe northern part of Clayton County is dominated by Hartsfield-JacksonAtlanta International, the world’s busiest passenger airport (104 millionpassengers in 2016). More than 64,000 people are employed by various entities on its 4,700-acre campus, making it Georgia’s largestemployment hub. Its annual economic impact in 2014 was estimated at 64 billion. “Hartsfield” recently completed a 9 billion expansion of itsThe Park at GreenbriarHartsfield Airport and adjacent industrial parksIndustrial PowerhouseThe large number of industrial and commercial parks located near theairport and/or interstates are major economic drivers for the south side.In south Fulton County near Hartsfield Airport, Majestic Airport CenterII is a 600-acre industrial park that houses major distribution centers forCostco, Kellogg’s, General Electric, Newell Rubbermaid, Del Monte,and Caterpillar. Majestic Airport Center IV, under construction nearby, isanchored by a 1.2 million SF Walmart distribution center.In southwest Fulton County, the Fulton Industrial District is the largestindustrial corridor in the eastern United States. Stretching for nine milesalong Fulton Industrial Boulevard near Interstate 20, the district boastsbrownra.com5

LOCATION DESCRIPTIONSouth Fulton and North Clayton Counties48 million SF of warehouse space, 522 industrial buildings, 20,000 workers and close to 1 billion in payroll. First developed in the 1960s, thisarea attracts industry due to its ease of access and close proximity toI-20, I-285, downtown Atlanta, two intermodal rail yards, and HartsfieldAirport’s cargo facilities. The district was boosted by the 2012 creation ofthe Fulton Industrial CID, which has improved its infrastructure, appearance, signage and security.In Clayton County, two of the largest providers of industrial/warehouse/distribution space are Majestic Airport Center I (3.3 million SF) and MorrowIndustrial Park (2.5 million SF). Nine other major business centers innorth Clayton provide a further 6.5 million SF of industrial and warehousespace. All these industrial and distribution operations, combined withnumerous large trucking companies, provide considerable employment.Recent industrial investment in Clayton includes construction of a 18 million state-of-the-art distribution center for retailer hhgregg and a 7 million sales and operations center for Briggs Equipment.“Aerotropolis”On the 130-acre site ofthe razed Ford assemblyplant adjacent to the airport, a futuristic businesspark named “Aerotropolis”is being created by JacobyDevelopment (creator ofAtlanta’s admired AtlanticStation district). Jacoby’smixed-use plan calls for Rendering of Aerotropolisoffice, retail, and a hotel. The development’s centerpiece is the 27-acreheadquarters campus of Porsche North America. The 100 million complex, designed to welcome thousands of visitors, features extensiveconference and event space, a classic car gallery, restoration center,fine-dining restaurant, retail, and a 2 million Porsche Experience Centerwith test tracks and a simulator. A 52 million four-star hotel is now risingadjacent to Porsche.The “Aerotropolis” district name has evolved and is sometimes usedto designate the entire area of dense development and employmentThe Park at Greenbriarsurrounding Hartsfield Airport. This includes the Georgia InternationalConvention Center (two minutes from the airport via “SkyTrain”), DeltaAirlines headquarters, Chick-fil-A headquarters, Wells Fargo’s OperationsCenter, the Gateway Center office complex, and multiple hotels.Booming Camp Creek ParkwayIn 2000, south Fulton was boosted when North American Propertiesbegan development of a major lifestyle center and live-work-play zoneon Camp Creek Parkway (50,100 vehicles per day) at I‑285. Since thenan estimated 1,400 acres of retail, housing, office, and industrial havebeen developed in this area, for an investmentof approximately 1 billion.The Camp Creek Marketplace lifestyle center,which was opened in large phases, wascompleted in 2005, and later supplementedby satellite centers. This 1.2 million SF retailnode has been the economic engine of SouthFulton County’s renaissance, providing morethan 2,000 jobs and 200 million in annualsales tax revenue. Prominent national anchorsinclude Target, BJ’s Wholesale Club, Lowe’s,Publix, LA Fitness, Ross, TJ Maxx, PetSmart,DSW Shoes, Staples, and Carmike Cinemas.The surrounding developments that have been built to complement thisinclude restaurants, hotels, office and industrial parks, luxury apartments, and single-family subdivisions. Most notable is Duke Realty’sCamp Creek Business Center, a 3.5 million SF park housing the FAA,Jaguar Land Rover North America, ADT Security, Kuehne & Nagel, CEVALogistics, and large distribution/logistics centers for Amazon, FedEx, andDick’s Sporting Goods.Planned South Atlanta RedevelopmentIn recent years, the Defense Base Closure and Realignment Commission(BRAC) has recommended the closure of numerous military installations.In Atlanta, the ax fell on army bases Fort McPherson and Fort Gillem.Both sites are close to Hartsfield Airport and provide hundreds of acresideal for redevelopment.brownra.com6

LOCATION DESCRIPTIONSouth Fulton and North Clayton CountiesIn 2012, the City of Forest Park spent 30 million to purchase 1,170acres of Fort Gillem, situated three miles east of the airport. The city isdirecting the site’s conversion to a business logistics park for industrialfacilities, manufacturing, and warehouses. As environmental remediationis required before the Army can transfer each section, it may take tenyears to totally transform the base. However, 3,000-4,000 eventual jobsare predicted for “Gillem Logistics Center.” In 2014, the first 700 acreswere transferred from the Army to the City of Forest Park.The multi-government interaction required to create Hartsfield’s massivefifth runway gave birth to a cross-jurisdictional planning initiative byClayton and Fulton Counties and the City of College Park. Called theSouthside Hartsfield Redevelopment and Stabilization Plan, it focuseson the 3,400 acres just south of the airport to foster local growth. Theinitiative is especially focused on three areas (totaling more than 500acres) that are believed to have tremendous potential for mixed-useredevelopment.In 2014, redevelopment was boosted by announcements that supermarket giant Kroger would open a 1,000,000 SF distribution center(now completed) that would employ up to 1,000, while national logisticscompany ES3 LLC would open a 700,000 SF facility that would createhundreds of jobs. While Kroger and ES3 will occupy approximately 2million SF and create morethan 1,000 jobs, local leadershope that’s just the start. TheAtlanta Journal Constitutionreported in 2014, “FortGillem redevelopers envisiona 7 million SF logistics andmanufacturing complex with3,000 workers within the nextRendering of Kroger campus at Fort Gillemfive to ten years.”Southern Regional Medical CenterTransformation of Fort McPherson, which occupies 488 acres in FultonCounty three miles north of Hartsfield, is handled by the McPhersonImplementing Local Redevelopment Authority (MILRA). Atlanta filmmaker Tyler Perry recently spent 30 million to purchase 330 acres ofthe base for further expansion of his nearby film studios.Plans for the remaining acreage are still undetermined, but the City ofAtlanta is focused on job-generating, mixed-use proposals. A section wasredeveloped when the Veterans Administration expanded by opening anadditional VA Medical Center at Fort McPherson in 2012. Ten acres (withexisting structures) were bought from the Army for 12.5 million and 47million was invested in renovations. It is hoped that this VA facility willlure additional science and technology offices and labs to the remainingparts of Fort McPherson’s land.The Park at GreenbriarThree miles southeast of Hartsfield, Southern Regional Medical Center(recently acquired by Prime Healthcare) is an important economicdriver. This 331-bed facility provides about 1,700 jobs, making it ClaytonCounty’s third-largest employer. SRMC also provides a Women’s LifeCenter, advanced stroke center, and the Georgia Orthopedic Institute.On a separate campus, it operates the “Spivey Station” outpatient center.Clayton State UniversityClayton State University is the county’s largest educational institution,with 7,145 enrolled. It has a career-oriented, adult student body in whichtwo-thirds of those enrolled are older than 22, with a median age of 29.Clayton State offers eight master’s degree programs and 40 baccalaureate degree majors in a park-like, 192-acre campus. One of its finestbuildings is Spivey Hall, which provides an acoustically-perfect venuefor classical music. In recognition of the numerous film studios locatedon Atlanta’s south side, the university has created a new “film studies”program.Southlake MallSouth Atlanta’s largest retailcenter is 1 million SF SouthlakeMall, located in Clayton Countyat the intersection of I-75 andHighway 54/Jonesboro Road.The mall is anchored by Macy’sand Sears and contains morethan 120 retail stores. Its largebrownra.com7

LOCATION DESCRIPTIONSouth Fulton and North Clayton CountiesSouth Fulton and airportsatellite retail area includes Sam’s Club and power centers SouthlakeFestival (342,000 SF) and Southlake Pavilion (518,000 SF). Thesecenters are anchored by Home Depot, Target, Best Buy, Ross, TJMaxx,Staples, PetSmart, Rooms to Go, LA Fitness, and a 24-screen cineplex,to name a few.Southlake is an even larger employment hub since Chime Solutionshas created more than 1,000 new fulltime jobs in a massive callcenter that is housed in the mall’s former JCPenney store.South Fulton CountyFulton County continues well southwest of Hartsfield Airport, where itsmain artery is I-85. Numerous large employers are clustered near thatinterstate in large industrial parks such as Southpark, SouthCreek, andMajestic Airport Center III, especially near the towns of Fairburn andUnion City. Top employers include: Kraft Foods’ largest U.S. regional distributioncenter (247 employees); U.S. Foodservice (795employees); Porex Technologies (256employees);MajesticAirport IVIndustrialParkU.S. Foodservice Clorox’s 1.2 million SF warehouse.FortMcPhersonEast PointPark arkAtlantaInternationalAirportAirport IIIndustrialMNJUnion CityCSXIntermodalFacilitykee kCr ParAhut alSo striduIn BCollege ParkMajesticAtlantaMetroStudiosDurham FairburnLakesCountryClub Procter & Gamble’s 1 million SF, 60 million distribution center;ATLANTAParkKraft Foods’ facility borders I-85 Dendreon Pharmaceuticals (200employees); Electrolux’s 600,000 SFSoutheast Regional DistributionCenter; andOwens-CorningClorox WarehouseElectrolux DistributionToto USAU.S. FoodserviceNestlé-PurinaKraft FoodsDendreon PharmaceuticalsProcter & GambleRoyal 85 Industrial ParkWalmart SupercenterOld National Market PlaceNaturally Fresh DistributionCenterN Chick-fil-A Corporate HQSouth WindGolfCourse Owens Corning (388 employees); Nestlé Purina Petcare Company(310 employees);ABCDEFGHIJKLMKILG HRiverdalerkpa arkhlPutSo striaduInFCDE0 mi246Copyright and (P) 1988–2012 Microsoft Corporation and/or its suppliers. All rights reserved. http://www.microsoft.com/mappoint/Certain mapping and direction data 2012 NAVTEQ. All rights reserved. The Data for areas of Canada includes information taken with permission from Canadian authorities, including: Her Majesty the Queen in Right of Canada, Queen's Printer for Ontario.NAVTEQ and NAVTEQ ON BOARD are trademarks of NAVTEQ. 2012 Tele Atlas North America, Inc. All rights reserved. Tele Atlas and Tele Atlas North America are trademarks of Tele Atlas, Inc. 2012 by Applied Geographic Solutions. All rights reserved.Portions Copyright 2012 by Woodall Publications Corp. All rights reserved.The Park at Greenbriarbrownra.com88

LOCATION DESCRIPTIONDemographic SummaryDemographic ProfileGeorgia State, Atlanta‐Sandy Springs, GA CBSA and Fulton County, Georgiaand the 5‐mile, 3‐mile and 1‐mile radius around Park at Greenbriar ApartmentsGeorgiaAtlantaFulton5 n (2018 Est.)Population Growth 2000 ‐ 2018Race / EthnicityWhiteBlackAsianOther/MixedHispanic (as a percentage of above)Population By Age0 ‐ 2425 ‐ 4445 ‐ 6465 Median Age (in years)Average Household IncomeMedian Household Income*Population 25 By EducationLess than 9th gradeSome High School, no diplomaHigh School Graduate (or GED)Some College, no degreeAssociate DegreeBachelor's DegreeMaster's DegreeProfessional School DegreeDoctorate DegreeTotal Households (2018 Est.)Household Growth 2000‐2023 EstHousing Units by Year Built2014 or edian Owner Occupied Housing ValueOccupied Units by Ownership StatusOwner OccupiedRenter Occupied3 MileRadius20181 1.45%34.05%26.55%25.63%13.78%36.92 79,057 55,29634.08%27.37%26.34%12.21%36.79 91,330 64,32132.70%30.20%25.40%11.70%36.15 106,110 64,14433.82%28.11%23.82%14.25%36.26 56,288 39,40634.30%29.16%22.97%13.56%35.35 52,535 37,47328.82%27.77%23.

Greenbriar Mall East Point College Park U.S. 29 / LEE STREET Southmeadow Industrial Park LANGFORD PKWY. C A M P B E L L T O N RO A D ON ROAD Screen Gems / Lakewood Studios U.S. 29 / MAIN STREET. Hapeville Y Park at Greenbriar. INVESTMENT SUMMARY The Park at Greenbriar brownra.com 5 Local Aerial N Greenbriar Mall. Park at Greenbriar Y.D.)