Forsyth Business Park

SOUGHT AFTER PRODUCT TYPE

• Over $3.3M of capital invested by current ownership increasing overall property value
• Brand new roof overlay with 10-year warranty and HVAC systems
• Recently extended parking lot by another 23 parking spaces
• Well-maintained functional product that caters to smaller tenants
• 10 suites with an average suite size of 6,268 SF when excluding the 22,419 SF suite
• Rear-load configuration with 9 dock-high doors and 6 drive-in doors
• Reinforced concrete ideal for maintaining low capital expenditure exposure over the long term

PRIME LOGISTICAL LOCATION

• The Property is ideally positioned with immediate access to major thoroughfares
• 0.2 miles away from Highway 9 and 1.3 miles away from Highway 141
• Conveniently located 1.5 miles away from GA-400
• 1.9 miles from Highway 20
• 35-minute drive from downtown Atlanta
• The submarket poses high barriers to entry due to the North Georgia Mountains and Lake Lanier

STRONG TENANT FUNDAMENTALS WITH DOWNSIDE PROTECTION

• Strong in-place rents with excellent leasing history demonstrating upside potential
• $13.15 PSF average in-place rents when excluding the 22,419 SF suite
• Balanced rollover schedule – no single year contains more than 29.2% of rollover throughout the next 10 years
• 4.5 years of WALT remaining
• 100% of tenants are on Net Leases
• Diversified rent roll with the biggest tenant occupying 28.4% of the Property
• Rest of the tenants occupy below 13%

EXCEPTIONAL SUBMARKET FUNDAMENTALS – NORTH FULTON/FORSYTH

• Forsyth County is one of the wealthiest and fastest growing counties in the United States
• The surrounding area within a 15-minute drive from the Property has seen an astonishing 62% population growth since 2010
• The county is projected to almost double its population by 2050 with 198,841 people projected to be part of the county
• Average household income of $180,762 in 2023
• North Fulton/Forsyth submarket had an average NNN rent of $10.89 PSF in 2023
• 24.17% year over year rent growth
• With 15 MSF of inventory, the submarket is extremely supply constrained due to limited amount of land entitled for industrial
• Experienced 10% growth in inventory over the past 5 years
• 30,000 SF currently under development which will further put pressure on rent growth
• 3.2% total vacancy in 2023
• Below 5% vacancy consecutively for the past 3 years