The document provides an investment analysis for a parking lot property owned by Selig Enterprises located at 79 Marietta Street NW in Atlanta, GA. The analysis was conducted by an investment team from Georgia State University consisting of Ebonee Dickson, Tiffany Lee, Lee Myers, and Albertio Smith. The report includes an executive summary of the property details, a market analysis of real estate trends in Atlanta, a S.W.O.T. analysis of the property, potential development alternatives, and a financial analysis projecting cash flows from redevelopment options over a 6 year period.
The Columbus metro continued its steady expansion by recently adding 15,200 payrolls, year-over-year, bringing total non-farm employment to 1.02 million. Meanwhile, unemployment fell 60 basis points year-over-year to 3.8 percent.
According to the most recent estimates from the BLS, total non-farm employment in Detroit stood at ~1.9 million payrolls, representing an annualized increase of 12,500 jobs or 66 basis points. Meanwhile, unemployment decreased 1.2 percentage points year-over-year to 7.0 percent.
JLL September 2015 Baltimore Employment UpdatePatrick Latimer
Baltimore’s steady economic recovery continued in September as payrolls grew by 2.1 percent compared to the previous year and the unemployment rate edged downwards to 5.3 percent.
Office-using employment sectors have experienced sustained, albeit modest employment expansion over the last year, recording an annualized net gain of 3,200 jobs across the metro.
Industrial employment sectors have experienced substantial employment expansion over the last year, recording an annualized net gain of 31,400 jobs across the metro.
The Columbus metro continued its steady expansion by recently adding 15,200 payrolls, year-over-year, bringing total non-farm employment to 1.02 million. Meanwhile, unemployment fell 60 basis points year-over-year to 3.8 percent.
According to the most recent estimates from the BLS, total non-farm employment in Detroit stood at ~1.9 million payrolls, representing an annualized increase of 12,500 jobs or 66 basis points. Meanwhile, unemployment decreased 1.2 percentage points year-over-year to 7.0 percent.
JLL September 2015 Baltimore Employment UpdatePatrick Latimer
Baltimore’s steady economic recovery continued in September as payrolls grew by 2.1 percent compared to the previous year and the unemployment rate edged downwards to 5.3 percent.
Office-using employment sectors have experienced sustained, albeit modest employment expansion over the last year, recording an annualized net gain of 3,200 jobs across the metro.
Industrial employment sectors have experienced substantial employment expansion over the last year, recording an annualized net gain of 31,400 jobs across the metro.
The TeamLease Employment Outlook Report: Quarter-3, 2011-12valuvox
The quarterly TeamLease Employment Outlook Report provides human resource policy and decision makers a forward looking tool that tracks hiring sentiments in the market. The report carries an insight into what businesses of various sizes – across the country and across industry sectors – have on their talent acquisition anvil for the immediate next three months. The Employment Outlook Survey is carried out, and the analysis done, in the preceding quarter.
Office employment sectors contracted over the last year, recording an annualized net loss of 600 jobs. Professional and business services was the only office-using supersector to post employment gains, adding 2,200 jobs, year-over-year
The DC Doing Business Guide is an updated and improved version of the previous
edition released in 2012. The new guide covers information essential to relocating,
starting and expanding your business in the District of Columbia. Topics covered include Business Registration & Licensing, Business Financing & Taxes, Financial Incentives, Starting a Franchise, Technology Company Resource Guide and Doing Business with Local & Federal Government, among others. The 2014/2015 edition was released in August 2014.
In the US …
> US federal R&E credit lapses again – will it be renewed?
> Presidential candidates acknowledge need for a better federal-level program
> California, Wisconsin and Indiana increase their state-level tax credits
In Canada …
> Ottawa hints at “SR&ED Overhaul” in 2008 budget
Download the full presentation: https://goo.gl/hcWSGB
The Yardi Matrix View- Office Investment Strategy
• US macroeconomic conditions are solid, with job growth of ~175-200K per month
• February was a blow out @313,000- partially driven by Puerto Rican exodus
• Wages are rising and labor market is tight- people are being pulled off the sidelines
• Conditions sufficient to maintain good office using employment growth, occupancy and slow rental growth
• Supply cresting in 2018 is a localized issue, but relevant in CBDs
• Upward trends in inflation and interest rates- a yellow, but not red flag
Office-using employment sectors have experienced sustained employment expansion over the last year, recording an annualized net gain of 3,100 jobs across the metro. Employment gains were led by the professional and business services sector, which added 1,500 jobs year-over-year.
The DC Development Report is a summary of the major development and construction projects in the District of Columbia. The Washington, DC Economic Partnership (WDCEP) began tracking development activity in 2001 with the hope of creating a comprehensive database that would answer a number of questions in regards to the construction activity in the city. The Report summarizes our entire database of projects, highlights major projects and what lies ahead for development in the District of Columbia.
This update of the DC Development Report is an overview of development activity and of the expansion occurring in DC. As a resource book, it is a compilation of nearly 14 years of data collection and research that provides an overview of an ever-changing development and construction cycle.
The WDCEP performs an annual “development census” in the month of September and receives contributions from more than 100 developers, architects, contractors and economic development organizations. This outreach results in updates to more than 350 projects. While our database of projects is constantly being updated, for the purposes of this publication all data reflects project status, design and information as of September 2014.
In 2014 the WDCEP partnered with CBRE to provide an economic overview of DC and in-depth analysis of the office, retail and residential markets. Although every attempt was made to ensure the quality of the information contained in this document, the WDCEP and CBRE makes no warranty or guarantee as to its accuracy, completeness or usefulness for any given purpose.
Columbus MSA employment was up 8,200 (0.8 percent) from March to June, ahead of Ohio’s increase of 0.4 percent and the U.S. increase of 0.6 percent, according to the Q2 economic update report produced by Columbus 2020. Going into the second half of the year, unemployment in the Columbus Region continued to decline at 4.6 percent, compared to June state and national rates of 5.5 and 6.1, respectively.
The latest Star America Capital Advisors Transportation Report. This report outlines the competitive environment in the State of Illinois. In this report you will find winning bidders, bid spreads, as well as the State's transportation budget.
CORE's monthly newsletter - What's New focuses on the new year. With this in mind we have compiled articles that have an outlook on the economic conditions and the outsourcing industry for the year ahead.
The Cincinnati metro continued its steady expansion by recently adding 20,000 payrolls, year-over-year, bringing total non-farm employment to 1.06 million. Meanwhile, unemployment fell 80 basis points year-over-year to 4.1 percent.
Sinds 12december2008 zijn we bijelkaar gekomen het gaat super goed we blijven voor altijd bij elkaar ikhouvanjou dit heb ik voor jou gemaakt mijn allerleukste liefste skatje kusjesss je mannetje
The TeamLease Employment Outlook Report: Quarter-3, 2011-12valuvox
The quarterly TeamLease Employment Outlook Report provides human resource policy and decision makers a forward looking tool that tracks hiring sentiments in the market. The report carries an insight into what businesses of various sizes – across the country and across industry sectors – have on their talent acquisition anvil for the immediate next three months. The Employment Outlook Survey is carried out, and the analysis done, in the preceding quarter.
Office employment sectors contracted over the last year, recording an annualized net loss of 600 jobs. Professional and business services was the only office-using supersector to post employment gains, adding 2,200 jobs, year-over-year
The DC Doing Business Guide is an updated and improved version of the previous
edition released in 2012. The new guide covers information essential to relocating,
starting and expanding your business in the District of Columbia. Topics covered include Business Registration & Licensing, Business Financing & Taxes, Financial Incentives, Starting a Franchise, Technology Company Resource Guide and Doing Business with Local & Federal Government, among others. The 2014/2015 edition was released in August 2014.
In the US …
> US federal R&E credit lapses again – will it be renewed?
> Presidential candidates acknowledge need for a better federal-level program
> California, Wisconsin and Indiana increase their state-level tax credits
In Canada …
> Ottawa hints at “SR&ED Overhaul” in 2008 budget
Download the full presentation: https://goo.gl/hcWSGB
The Yardi Matrix View- Office Investment Strategy
• US macroeconomic conditions are solid, with job growth of ~175-200K per month
• February was a blow out @313,000- partially driven by Puerto Rican exodus
• Wages are rising and labor market is tight- people are being pulled off the sidelines
• Conditions sufficient to maintain good office using employment growth, occupancy and slow rental growth
• Supply cresting in 2018 is a localized issue, but relevant in CBDs
• Upward trends in inflation and interest rates- a yellow, but not red flag
Office-using employment sectors have experienced sustained employment expansion over the last year, recording an annualized net gain of 3,100 jobs across the metro. Employment gains were led by the professional and business services sector, which added 1,500 jobs year-over-year.
The DC Development Report is a summary of the major development and construction projects in the District of Columbia. The Washington, DC Economic Partnership (WDCEP) began tracking development activity in 2001 with the hope of creating a comprehensive database that would answer a number of questions in regards to the construction activity in the city. The Report summarizes our entire database of projects, highlights major projects and what lies ahead for development in the District of Columbia.
This update of the DC Development Report is an overview of development activity and of the expansion occurring in DC. As a resource book, it is a compilation of nearly 14 years of data collection and research that provides an overview of an ever-changing development and construction cycle.
The WDCEP performs an annual “development census” in the month of September and receives contributions from more than 100 developers, architects, contractors and economic development organizations. This outreach results in updates to more than 350 projects. While our database of projects is constantly being updated, for the purposes of this publication all data reflects project status, design and information as of September 2014.
In 2014 the WDCEP partnered with CBRE to provide an economic overview of DC and in-depth analysis of the office, retail and residential markets. Although every attempt was made to ensure the quality of the information contained in this document, the WDCEP and CBRE makes no warranty or guarantee as to its accuracy, completeness or usefulness for any given purpose.
Columbus MSA employment was up 8,200 (0.8 percent) from March to June, ahead of Ohio’s increase of 0.4 percent and the U.S. increase of 0.6 percent, according to the Q2 economic update report produced by Columbus 2020. Going into the second half of the year, unemployment in the Columbus Region continued to decline at 4.6 percent, compared to June state and national rates of 5.5 and 6.1, respectively.
The latest Star America Capital Advisors Transportation Report. This report outlines the competitive environment in the State of Illinois. In this report you will find winning bidders, bid spreads, as well as the State's transportation budget.
CORE's monthly newsletter - What's New focuses on the new year. With this in mind we have compiled articles that have an outlook on the economic conditions and the outsourcing industry for the year ahead.
The Cincinnati metro continued its steady expansion by recently adding 20,000 payrolls, year-over-year, bringing total non-farm employment to 1.06 million. Meanwhile, unemployment fell 80 basis points year-over-year to 4.1 percent.
Sinds 12december2008 zijn we bijelkaar gekomen het gaat super goed we blijven voor altijd bij elkaar ikhouvanjou dit heb ik voor jou gemaakt mijn allerleukste liefste skatje kusjesss je mannetje
an informed patient is an empowered patient … with the goal of achieving improved health outcomes.
… shared or informed decision-making, evidence-based patient choice, or concordance.
Austin's industrial market continues to fire on all cylinders.
Austin’s industrial market continues to progress as rental rates rise yet again in the second quarter. The citywide average quoted rental rate increased by 1.6% between quarters from $8.21 to $8.34 per SF NNN, and increased 18.5% on a year-to-year basis from $7.04 per SF NNN.
Vacancy dropped 140 basis points over the quarter from 10.2% to 8.8%, continuing to gradually decrease after a small increase last quarter.
Three buildings totaling 207,008 SF delivered in the second quarter, two of which are in Hays County, a growing submarket south of Austin.
According to the Texas Workforce Commission, the Texas economy and employment across all major industry sectors continue to grow. Austin’s unemployment rate fell to 3.4% from 4.6% over the year, lower than both the state and national average.
Austin was the third fastest growing metro area in the nation during the past year with the population expanding by 3% between July 2013 and July 2014, according to the U.S. Census Bureau’s recent data. Hays County alone was the fifth fastest growing county in the nation over the past year.
Mercer Capital's Investment Management Industry Newsletter | Q4 2018 | Focus:...Mercer Capital
Mercer Capital’s Asset Management Industry newsletter is a quarterly publication providing perspective on valuation issues pertinent to asset managers, trust companies, and investment consultants.
Mercer Capital's Value Focus: Construction and Building Materials | Q3 2018 |...Mercer Capital
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Office-using employment sectors have experienced substantial employment expansion over the last year, recording an annualized net gain of 12,500 jobs across the metro.
RMD24 | Retail media: hoe zet je dit in als je geen AH of Unilever bent? Heid...BBPMedia1
Grote partijen zijn al een tijdje onderweg met retail media. Ondertussen worden in dit domein ook de kansen zichtbaar voor andere spelers in de markt. Maar met die kansen ontstaan ook vragen: Zelf retail media worden of erop adverteren? In welke fase van de funnel past het en hoe integreer je het in een mediaplan? Wat is nu precies het verschil met marketplaces en Programmatic ads? In dit half uur beslechten we de dilemma's en krijg je antwoorden op wanneer het voor jou tijd is om de volgende stap te zetten.
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It is a sample of an interview for a business english class for pre-intermediate and intermediate english students with emphasis on the speking ability.
"𝑩𝑬𝑮𝑼𝑵 𝑾𝑰𝑻𝑯 𝑻𝑱 𝑰𝑺 𝑯𝑨𝑳𝑭 𝑫𝑶𝑵𝑬"
𝐓𝐉 𝐂𝐨𝐦𝐬 (𝐓𝐉 𝐂𝐨𝐦𝐦𝐮𝐧𝐢𝐜𝐚𝐭𝐢𝐨𝐧𝐬) is a professional event agency that includes experts in the event-organizing market in Vietnam, Korea, and ASEAN countries. We provide unlimited types of events from Music concerts, Fan meetings, and Culture festivals to Corporate events, Internal company events, Golf tournaments, MICE events, and Exhibitions.
𝐓𝐉 𝐂𝐨𝐦𝐬 provides unlimited package services including such as Event organizing, Event planning, Event production, Manpower, PR marketing, Design 2D/3D, VIP protocols, Interpreter agency, etc.
Sports events - Golf competitions/billiards competitions/company sports events: dynamic and challenging
⭐ 𝐅𝐞𝐚𝐭𝐮𝐫𝐞𝐝 𝐩𝐫𝐨𝐣𝐞𝐜𝐭𝐬:
➢ 2024 BAEKHYUN [Lonsdaleite] IN HO CHI MINH
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➢CHILDREN ART EXHIBITION 2024: BEYOND BARRIERS
➢ WOW K-Music Festival 2023
➢ Winner [CROSS] Tour in HCM
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➢ HCMC - Gyeongsangbuk-do Culture and Tourism Festival
➢ Korean Vietnam Partnership - Fair with LG
➢ Korean President visits Samsung Electronics R&D Center
➢ Vietnam Food Expo with Lotte Wellfood
"𝐄𝐯𝐞𝐫𝐲 𝐞𝐯𝐞𝐧𝐭 𝐢𝐬 𝐚 𝐬𝐭𝐨𝐫𝐲, 𝐚 𝐬𝐩𝐞𝐜𝐢𝐚𝐥 𝐣𝐨𝐮𝐫𝐧𝐞𝐲. 𝐖𝐞 𝐚𝐥𝐰𝐚𝐲𝐬 𝐛𝐞𝐥𝐢𝐞𝐯𝐞 𝐭𝐡𝐚𝐭 𝐬𝐡𝐨𝐫𝐭𝐥𝐲 𝐲𝐨𝐮 𝐰𝐢𝐥𝐥 𝐛𝐞 𝐚 𝐩𝐚𝐫𝐭 𝐨𝐟 𝐨𝐮𝐫 𝐬𝐭𝐨𝐫𝐢𝐞𝐬."
What are the main advantages of using HR recruiter services.pdfHumanResourceDimensi1
HR recruiter services offer top talents to companies according to their specific needs. They handle all recruitment tasks from job posting to onboarding and help companies concentrate on their business growth. With their expertise and years of experience, they streamline the hiring process and save time and resources for the company.
[Note: This is a partial preview. To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
Sustainability has become an increasingly critical topic as the world recognizes the need to protect our planet and its resources for future generations. Sustainability means meeting our current needs without compromising the ability of future generations to meet theirs. It involves long-term planning and consideration of the consequences of our actions. The goal is to create strategies that ensure the long-term viability of People, Planet, and Profit.
Leading companies such as Nike, Toyota, and Siemens are prioritizing sustainable innovation in their business models, setting an example for others to follow. In this Sustainability training presentation, you will learn key concepts, principles, and practices of sustainability applicable across industries. This training aims to create awareness and educate employees, senior executives, consultants, and other key stakeholders, including investors, policymakers, and supply chain partners, on the importance and implementation of sustainability.
LEARNING OBJECTIVES
1. Develop a comprehensive understanding of the fundamental principles and concepts that form the foundation of sustainability within corporate environments.
2. Explore the sustainability implementation model, focusing on effective measures and reporting strategies to track and communicate sustainability efforts.
3. Identify and define best practices and critical success factors essential for achieving sustainability goals within organizations.
CONTENTS
1. Introduction and Key Concepts of Sustainability
2. Principles and Practices of Sustainability
3. Measures and Reporting in Sustainability
4. Sustainability Implementation & Best Practices
To download the complete presentation, visit: https://www.oeconsulting.com.sg/training-presentations
Personal Brand Statement:
As an Army veteran dedicated to lifelong learning, I bring a disciplined, strategic mindset to my pursuits. I am constantly expanding my knowledge to innovate and lead effectively. My journey is driven by a commitment to excellence, and to make a meaningful impact in the world.
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RMD24 | Debunking the non-endemic revenue myth Marvin Vacquier Droop | First ...BBPMedia1
Marvin neemt je in deze presentatie mee in de voordelen van non-endemic advertising op retail media netwerken. Hij brengt ook de uitdagingen in beeld die de markt op dit moment heeft op het gebied van retail media voor niet-leveranciers.
Retail media wordt gezien als het nieuwe advertising-medium en ook mediabureaus richten massaal retail media-afdelingen op. Merken die niet in de betreffende winkel liggen staan ook nog niet in de rij om op de retail media netwerken te adverteren. Marvin belicht de uitdagingen die er zijn om echt aansluiting te vinden op die markt van non-endemic advertising.
Affordable Stationery Printing Services in Jaipur | Navpack n PrintNavpack & Print
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3.0 Project 2_ Developing My Brand Identity Kit.pptxtanyjahb
A personal brand exploration presentation summarizes an individual's unique qualities and goals, covering strengths, values, passions, and target audience. It helps individuals understand what makes them stand out, their desired image, and how they aim to achieve it.
Cracking the Workplace Discipline Code Main.pptxWorkforce Group
Cultivating and maintaining discipline within teams is a critical differentiator for successful organisations.
Forward-thinking leaders and business managers understand the impact that discipline has on organisational success. A disciplined workforce operates with clarity, focus, and a shared understanding of expectations, ultimately driving better results, optimising productivity, and facilitating seamless collaboration.
Although discipline is not a one-size-fits-all approach, it can help create a work environment that encourages personal growth and accountability rather than solely relying on punitive measures.
In this deck, you will learn the significance of workplace discipline for organisational success. You’ll also learn
• Four (4) workplace discipline methods you should consider
• The best and most practical approach to implementing workplace discipline.
• Three (3) key tips to maintain a disciplined workplace.
2. 79 Marietta Street
Atlanta, Georgia
Table of Contents:
1. Team Overview
2. Executive Summary
3. Market Analysis
4. S.W.O.T. Analysis
5. Alternatives
6. Financial Analysis
Exhibits
Exhibit 1 Aerials and Photographs
Exhibit 2 Maps
Exhibit 3 Tax Parcel Information
Exhibit 4 Demographics
3. Team Overview
Ebonee Dickson is the project manager for the GSU Investment Team. A
senior at Georgia State University, she is studying Real Estate and
Managerial Sciences at the Robinson College of Business. She has an
associate degree in Business Administration from Georgia Military
College. Ebonee is a member for the Georgia State University Real Estate
Club. Ebonee is interested in pursuing a career in real estate development
after she completes her education.
Tiffany Lee is in her final year at Robinson College of Business majoring
in Real Estate. She is a member of the GSU Real Estate Club and
Investment Team. Tiffany currently works in the food service industry.
Tiffany’s career goals are in commercial real estate and business
administration.
Lee Myers is a senior at Georgia State University pursuing a degree in
Real Estate. He is a member of the GSU Real Estate Club and Investment
Team. He has three years of experience in residential construction and
sales. After graduation, Lee plans to seek a career in residential
development.
Albertio Smith is a senior at Georgia State University majoring in
International Economics and Spanish. He is a member of the National
Association of Realtors, the Dekalb Real Estate Board, GSU Real Estate
Club and Investment Team. Albertio is also a licensed realtor with
Metrobrokers GMAC. He currently works in management for UPS.
Alberio’s career goals include climbing the executive ladder with UPS and
investing in residential and commercial real estate.
4. Purpose of Report:
79 Marietta Street NW, Atlanta GA 30303-2810
This parking lot property owned by Selig Enterprises incorporated, lies in the downtown area of Atlanta, Georgia.
On the corner of Marietta Street and Williams Street, this parking lot has great potential to earn high rewards if
converted to meet the new demands placed on the growing area of Atlanta. By analyzing the growth of Atlanta’s
economic conditions from all aspects of real estate investments, options for the highest return for this parking lot
will substantial support a conversion.
Executive Summary
Property Characteristics
Size: .27 Acres
11,770 Square Feet
Dimensions: 105ft x112ft
Location:
County: Fulton
Census Tract/Block: 27.00/1
Building Characteristics:
Type: Parking Deck
Number of Parking Spaces: 212
Built Date: 1957
Size: 42,364 Sq. Ft.
Tax Information:
Land Value: $353,100
Structure Value: $1,417,900
Total Value: $1,771,000
Assessed Year: 2007
Tax Year 2007: $28,387.90
Owner Information:
Selig Enterprises INC
1100 Spring St. Atlanta, GA, 30309
Market Analysis
National Overview:
Economic employment trends for 2009 are expected to latter throughout the year according to the national market
research performed by Marcus and Millicap. On a national level, the apartment market seems appealing due to the
strict credit restrictions for the housing market. Employment rates are expected to increase as during the mid- to
end of 2009. Consumer confidence is a must for the economy to gain positive returns during this economic
recession. Office markets forecast for 2008 deemed optimistic due to the overall recorded return office market
investors held as a lesson from the 2001 office explosion. This lesson forecasted vacancy’s to only increase 3.6%
for 2008 while other markets were forecasted to experience even higher vacancies. For retail real estate investors,
reliable financing is obtainable but due to the high increases in vacancy, value-added concessions to tenants will
5. increase for investors. Industrial markets create available and easier convertibility for different real estate
redevelopments making the reliable reactions to a volatile market easier. Each sector of real estate is finding new
innovative ways to create the best return for current market status. As a result, a new trend towards health
investments for real estate show and still show, positive returns from the aging baby boomers. The main focus for
all real estate endeavors is perhaps what the investor can bring to the available local market to help the community
and longevity of the city for the consumers.
Atlanta Employment and Economic Overview:
Employment in the Metro Atlanta Region, which includes Fulton County, Cobb County, Dekalb County,
Buckhead, and the City of Atlanta, employment has continued to show positive signs for increased employment
according to Metro Atlanta’s Chamber of Commerce. During these slow economic time, in 2007, Atlanta gained
more than 60,000 new jobs placing Atlanta in first place for the largest increase in jobs supplied from 2000-2006
(Chamber of Commerce: Atlanta, 2007). Challenges that are underway for Atlanta are the large plants closing due
to economic distress forcing companies like General Ford Motors, to lay off thousands of employees. Georgia-
Pacific, BellSouth, and Scientific-Atlanta, and Russell Corp, all of which are huge contributors to the Metro, also
announced the merger in 2007 and plan to make the merger final in 2008, ultimately sacrificing landscape, jobs,
and a lower absorption rate (Chamber of Commerce: Atlanta, 2007). Increases in employment suggest that Atlanta
is continuously creating jobs for civilians increasing the overall market share for Atlanta businesses.
In 2007, according the Chamber of Commerce, business in the Atlanta area were targeted to corporate
headquarters, technology sectors, logistics, Telecommunications, and computer software and services market
featuring lower overall operating costs for large corporations. Since Atlanta’s population has continuously grown
despite economic stresses, Atlanta’s Office building sector also continues to show positive outcomes. Cresa
Partners, a real estate advisors service, stated that for Atlanta’s second quarter, Atlanta experienced an average
14.5% vacancy rate and an absorption rate at a negative 155,064 square feet, which is an increase from a negative
417,547 square feet during the first quarter of 2008.
Market analysis from Marcus and Millicap, Inc., back-up Cresa Partners for Atlanta’s economic status by
explaining slow office absorption has increased unemployment and vacancy rate by occupants that use
commercial office buildings within Atlanta (Marcus & Millicap). Marcus and Millicap’s research continues to
explain that employer’s in Atlanta has added 37,000 jobs since the beginning of 2008 and ultimately raising the
rate 1.5 percent. Historically evidence concludes that employers who normally invest in office use bring an
estimated 7,700 new jobs yearly to the Atlanta area (Marcus and Millicap: 2008).
Employment, in relations to vacancy rate and absorption rate directly affect the overall economic stability for
Atlanta’s market (Cresa Partners: Atlanta, 2008). Midtown, Central Atlanta, and downtown Atlanta, have seen
these relations first hand last quarter when big companies like Think Ink, Cox, Piedmont Hospital, and Portman
Holdings, LLC., recently transacted an office/lease in one of these areas, increasing employment and lowering the
vacancy and absorption rate (Cresa Partners: Atlanta, 2008). For Westy Office Building, a high employment rate
gives this investment a positive beginning outlook.
Office Market for Atlanta:
Atlanta’s economic conditions for Office real estate showed a negative absorption rate in 2008 first Quarter
analysis and increasing even more in the second quarter analysis. Atlanta still remains a hot spot for many
companies due to dropping operating expenses and low construction costs. Though new construction is still
growing substantial for Atlanta, many new building constructions have been dismissed due to the recent real estate
market downfall. (Marcus and Millicap: 2008); (Goddard, NAI Global: 2008). New construction forecasting for
office buildings in 2008 have decreased from 2.4 million square feet in 2007 to 1.9 million square feet for 2008.
The average trend for new construction in Atlanta is approximately 3.9 million square feet (Marcus and Millicap:
2008).
6. Rents for 2008 are expected to increase 2.4 percent averaging $21.70 per square foot creating a more modest rent
base while increasing effective asking rents to increase 4.6 percent. Rents have increased slightly for 2008 and are
forecasted to increase in the upcoming quarters (Goddard, NAI Global: 2008). Due to a drastic decrease in
demand, Class A Office rents are expected to raise to $24.35 per square feet, signifying a rent increase of 3
percent since 2007. Capitalization rates have decrease slightly since the last quarter computing at an average of 6
to high-7 percent. Sales trends forecasted for 2008 predict commercial office building to sell $157 per square foot
Vacancy rates have reached a high of 18 percent since 2000, hitting the lowest level of absorption seen in the last
few years. Class A Office segment for Atlanta shows an increased forecast for the next few quarters. Since 2007,
vacancy has raised 60 basis points, increasing the rate to about 14.5 percent for the second quarter in 2008
(Marcus and Millicap: 2008). Overall outlook for vacancy due to unemployment rates increases are expected to
reach a 16 percent by the end of 2008 (Marcus and Millicap: 2008).
Capital markets suggest that lenders will become more conservative during upcoming quarters, resulting in lower
loan-to-value ratios, and higher requirements for debt service ratios. A submarket overview for Cobb County
predict that lenders will still remain cautious for next few quarters, and many construction projects will be halted
until the traffic congestion within the area are corrected in order to meet the demand of markets (Marcus and
Millicap: 2008).
Since 1918
Background:
Real Estate Firm specializing in Retail, Industrial, Office, and Residential properties, dedicated to building a
strong foundation and service to all clients, continuous growth, and a positive attribute to the surrounding
communities.
Established: 1918, Ben J. Massell. Today the majority of the highest ranking authorities are still family members.
They believe that stability and integrity have helped them maintain their status as one of the largest privately held
real estate companies in the Southeast and the U.S.
Services: This company not only acquires and holds ownership of their properties, they also provide leasing,
development, space design, construction, legal, property management, brokerage and accounting services for their
portfolio of over 250 properties. Keep in mind that Selig is the sole owner of Triple AAA parking in which they
manage more then one hndred parking facilities.
Overview: Selig is committed to the growth of the business, political, and social environment of Atlanta and the
Southeast. They believe in dedicating energy, resources, and time towards the empowerment of the community.
There are four key factors in which Selig attributes their continued growth and success: responsive service, strong
tenant relationships, LONG-TERM OWNERSHIP of properties, and an experienced staff. Selig focuses not
only on developing neww projects, but also acquiring existing income properties. Their financial resources allow
them to avoid obtaining construction or interim financing. Their leasing activities encompass the full spectrum of
RETAIL, INDUSTRIAL, AND OFFICE holdings. Since everything is done in house, there is no hassle with
third parties when it comes to property management and contracts are always negotiated in the swiftest and most
efficient manner possible.
Current properties on the market: In the metro-Atlanta area, Selig has almost seventy properties new and old for
sale or with vacancies for lease, ranging in type from industrial buildings and office spaces to strip malls and
grocery sites.
7. S.W.O.T Analysis
LOCALE STRENGTHS:
• Location, in the heart of downtown Atlanta
• Frontage on Marietta Street, one of Atlanta’s major surface streets
• Close to Georgia State University, a nexus for growth in the downtown area
• Short walk to Centennial Olympic Park and Woodruff Park
• 250 Yards from Five Points Marta Station
• Quarter of a mile from CNN Center and Phillips Arena
• Half of a mile from the Georgia Dome
• Parking deck currently occupying site does not meet current aesthetic standards in city zoning creates potential for
increased municipal cooperation in a redevelopment
WEAKNESSES:
• Surrounded by office buildings with high vacancy rates
• Area is “dead” outside of normal business hours
• Low pedestrian traffic
• High vagrant population in the area
STRENGTHS OF CURRENT USE:
• Parking is at a premium in downtown.
• Atlanta has a “car culture”
• Steady income stream
• Low maintenance compared to other options
WEAKNESSES OF CURRENT USE:
• Outdated structure
• Parking structure cannot easily be converted to another use
• Relatively low, relatively fixed, income.
Alternatives
• Office Building
- High vacancies in area.
- Many competing structures nearby
• Condominium • Improved Parking Structure
- Poor market - Low maintenance
- One time return - Great location
- Highly profitable
• Apartments - Low management
- Low vacancy rate
- High Maintenance
- Limited market in area
• Hotel
8. - Extremely high maintenance
- High management fees
- Highly volatile to market
Financial Analysis
79 Marietta Street, Atlanta GA
Added Estimating Assumptions:
Operating Expenses are expected to increase 3% each
year to account for inflation
In order to increase the potential cash flows, 5% will be
deducted for Management fees from the EGI
Operating Statement
Assumptions:
Holding Period: 6 Years
Asking Price: $ 3,500,000.00
10%
Vacancy Rate:
3%
3% Increase in Rent from Year 2 and On:
$5.00
Operating Expenses:
3%
3% Inflation per year for Operating Expenses:
$23.00
Rent Per Square Ft.:
15%
Management Fee of 5% of EGI:
$60,000 *increases for first 3 years by $10,000
Maintenance and Repair Fees:
42,364
Total Square Feet:
8%
Assumed Loan Mortgage Rate:
360
Assumed Loan Period Listed in Months:
$700,000
LTV 20%:
($5,136.35)
Anticipated Monthly Payments:
2%
Replacement Reserves:
Cash Flow Forecast Year 1 Year 2 Year 3 Year 4 Year 5 Year 6
Potential Gross $974,
Income: 372.00 $1,003,603.16 $1,033,711.25 $1,064,692.05 $1,096,545.54 $1,129,271.73
($100,360.3 ($103,371.
Vacancy: ($143,002.06) 2) 13) ($106,469.20) ($109,654.55) ($112,927.17)
Effective Gross
Income: $831,369.94 $903,242.84 $930,340.13 $958,222.84 $986,890.99 $1,016,344.56
Operating Expenses
Statement:
Management Fees
and Salary Expense: $124,705 $135,486.43 $139,551.02 $143,733.43 $148,033.65 $152,451.68
9. Replacement
Reserves: $16,627 $18,065 $18,607 $19,164.46 $19,737.82 $20,326.89
Maintenance and
Repair Fees: $60,000 $70,000 $80,000 $80,000 $80,000 $80,000
Total Expenses: $201,333 $223,551 $238,158 $242,898 $247,771 $252,779
Net Operating
Income: $630,037.05 $679,691.56 $692,182.31 $715,324.96 $739,119.52 $763,565.98
DS: ($61,636.22) ($61,636.22) ($61,636.22) ($61,636.22) ($61,636.22) ($61,636.22)
BTCF $568,400.82 $618,055.34 $630,546.08 $653,688.74 $677,483.29 $701,929.76
Less Tax Paid: $103,522.14 $115,141.03 $118,796.20 $125,438.91 $134,961.58 $139,287.35
After Tax
Cash Flows:
$ $464,878.68 $502,914.30 $511,749.89 $528,249.82 $542,521.72 $562,642.41
Sale:
*The anticipated Cap Rate according to
market value: 7.00%
$10,908,08
Future Value of Property: 5.46
$3,500,000.0
Original Basis: 0
$105,000. Total Tax due at
Plus Transaction Costs: 00 time of sale:
$3,395,000.
Adjusted Basis: 00 $2,470,117.99
After Tax Reversion:
$10,908,085.
Anticipated Future Sales Price: 46
$3,395,000.0
Less Adjusted Basis: 0
$7,513,085.
Gain on Sale: 46
$1,224,358. *Mid-Month
Depreciation: 25% 97 Convention
$1,126,962.
Capital Gain: 15% 82
Mortgage Balance: $541,898.00
Less Selling Costs: $327,242.56
$3,220,462.
Total: 36
$7,687,623.1
After Tax Reversion: 0
Ratios
10. NPV $2,108,849.78
IRR 67.44%
Overview of Financial Analysis:
From the financial analysis, perhaps the most important figures to be aware of, is the Internal Rate of Return
(IRR), the Net Present Value (NPV), and the Net Operating Income (NOI). If the property anticipates keeping the
property as a parking deck area, the NOI shows high positive returns to the current owner. The IRR and NPV
verify the high returns by displaying figures well over the original basis and the loan down payment of 20%. For
this loan, the assumed holding period is five years. The anticipated Capitalization rate, according to the current
market figures, holds an average of 7%, indicating that the property value is estimated to equal $10,908,000 after
the five year holding period, giving the owner a 67.44% internal rate of return, or actual return for the property
including all the cash flows. The return for this property type is higher than any other property types due to the
economic crisis and stress on the current market.
**This examples figures are based off comparables within the Atlanta market for parking deck property types.
Exhibits
Exhibit 1 – Aerials and Photographs
Parcel Aerial