executive park proposal

28

EXECUTIVE PARK

BUILDING 57

5th Floor

4th Floor

3rd Floor

2nd Floor

1st Floor

19,613 SF

19,613 SF

19,613 SF

19,613 SF

18,133 SF

Total 96,585 SF

Available 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025+ Mgmt

Emory Healthcare, Inc.Suite 50019,613 SFMay-2023


Emory UniversitySuite 30010,781 SFApr-2017

Personalized PrimaryCare Atlanta, LLC

Suite 315/3902,432 SF

Feb-2023

AvailableSuites 360/370/380

6,400 SF

Emory Healthcare, Inc.Suite 200/250

19,613 SFMay-2023

AvailableSuite 1202,646 SF

AvailableSuite 140

390 SF

The Emory Clinic, Inc.Suite 100/160/190

13,808 SFAug-2020

H&ZAcupuncture, LLC

Suite 1301,289 SF

Feb-2021

EXECUTIVE PARKLeasing &

Management Proposal

2

LEASINGSERVICES

3

BLOCKING & TACKLING

4

EXECUTIVE PARK

EXECUTIVE PARK REDEFINED AND WELL-POSITIONED FOR NEW DEVELOPMENT

Since 2004, the owners of Executive Park have undertaken a comprehensive repositioning plan that includes re-zoning, demolition of several buildings, and commissioning of mixed-use development plans. Delayed only due to the economic downturn between 2008 and 2012, Executive Park is now primed for a new owner to move forward with the existing redevelopment plan or implement a revised strategy for the site.

• 21 buildings demolished since 2001 to make way for new development

• Remaining 58-acre Park includes seven office buildings totaling 392,007 SF (excludes buildings 7, 12, and 59, each sold to 3rd parties) and several development-ready land sites

• Landlord termination clauses included in all new office buildings scheduled for demolition under the current development plan

• Existing plans call for a premier mixed-use development called The Park at Druid Hills, which would include office, retail/restaurant, a hotel, and multifamily residential

Sheridan Road

North Druid Hills Road

Exec

utive

Park Drive

59

57

50

17

6

5 3

43

4

11

14 16

18

8

2

2022

2624

4E

52

Bria

rcli�

R

oad

Retail

New 310-unitMulti-FamilyResidential

Under Construction

Courtyardby Marriott

85

ParkingDeck

Multi-FamilyResidential

Multi-FamilyResidential

EmoryClinic

Emory Orthopaedic

& Spine CenterChantilly Driv

e

26

20

EXECUTIVE PARK CURRENT SITE PLAN

1

1

1 Not included in this offering.2 Buildings 20 and 26 currently empty and planned to be demolished. As such, square footage not included in this offering and presented as land sites.

2

2

With 13,885 RSF as the largest vacant space in the portfolio, leasing the Executive Park Office Portfolio

will require a lot of blocking and tackling.

.... and we know how to do just that.

Jeff Henson (#65)UGA Lineman/Letterman2005-2008

4

BLOCKING & TACKLING

These spaces have been vacant for too long - It’s time for a new game plan.

We know how to get them into shape to lease quickly.

We walk through every space with our management team, construction management team, ar-chitect and the entire leasing team at the same time.

We break down the most cost effective approach for improvements that are the least expensive but most effective.

Executive Park

BUCKHEAD

BUCKHEAD RESIDENTIAL

BUCKHEAD ATLANTA

LINDBERGH CITY CENTER

BROOKHAVEN

Briarcliff Road


400

4 Miles To Midtown

Executive Park• Rare Intown Atlanta Office Park with Significant Development Opportunity

• Coveted Brookhaven Address Between Buckhead and Emory

• Cash Flowing Buildings with Leasing Upside

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5

SPEC SUITES

Case Study: 1165 NorthChase Spec Suites were responsible for the lease up of 54,607 SF RSF in the last two years at 1165 Northchase.

By finishing 2 or 3 spaces at a time, we reduced cost and increased occupancy. If we couldn’t make a tenant in one of our existing spaces, we

would use them to kick off the next space.

BUILDING SUITE SFWeeks on

MarketSTATUS COST PSF

1165 Northchase 170 2,122 SF 8 Leased $22.15




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PROVEN SUCCESS

An ownership mentality for managing your real estate

Fifty (50) years of experience in the industry

Substantially enhance the image of the project through our marketing programs, brand name and reputation for quality and professionalism

Strong reporting capabilities our systems are adapted to the owner’s needs

A team approach across our full spectrum of services

Success Story: 1165 Northchase Parkway

20% Leased to 88% Leased

In May 2013, JP Partners hired Lincoln Property Company (“LPC”) to Lease and manage its most recent acquisition, 1165 Northchase Parkway, located in Atlanta’s Northwest submarket (the “Building”). The 90,000 RSF Class B Office Building sat 20% occupied and in dire need of repositioning. In November 2013, LPC engineered a $1M renovation of the Building, which focused on: (1) common area corridors, restrooms, main lobbies, and (2) construction of several “move-in-ready spec suites.” LPC then conducted a concentrated marketing campaign aimed at active local Brokers and local tenants residing within the competitive set. The campaign reintroduced the Building to the surrounding brokerage and tenant communities and highlighted the new Ownership and extensive building renovations. As a result, occupancy increased from 20% at the time of acquisition to 88% at the end of 3Q 2015.

Why Lincoln?

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MARKETING & COMMUNICATION

Our goal is to create a high quality marketing campaign, focusing on making a positive and lasting impact on our clients and potential tenants. We use every marketing outlet possible to get every property maximum exposure.

Our system of Best Space Showing Packages, broadcasted Email Announcements, PR and Social Media Campaigns, has proven successful property results time and time again.

We realize the importance of open communication with ownership and are dedicated to providing detailed updates with status of current prospects as well as target tenants as often as required by your asset management team. Additionally, we provide timely market intelligence, market comps and trending on a regular basis.

Lincoln’s proprietary database platform provides owners and asset managers with unprecedented tracking, real-time visibility and self-service access to deal & vacancy information.

Marketing Services Communication

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LEASING SERVICES

What sets us apart & how we will suceed?

Our primary objective will be to maximize asset value through aggressive lease-up of vacancies at competitive rates, terms and conditions. The leasing team will collaborate with you to tailor an asset-specific leasing strategy for the property in order to generate as much

exposure as possible. Utilizing a leasing team of senior and junior brokers with complementing skill sets and duties provides dual coverage for the property and ensures the highest level of

service.

• Personal contact and continual follow-up with all prospective tenants in competing buildings in the immediate area; make sure they are aware of current opportunities to lease space at the properties.

• Be the first to see all tenants coming to the market through strong broker relationships and involvement with local Commercial Real Estate and Economic Development Councils.

• Keep property “top of mind” through targeted email campaigns, social media marketing and creative marketing events.

• Successful leasing is all about exposure and velocity. To ensure both, we utilize every marketing outlet possible to get maximum exposure.

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MARKETING PLAN

INFORM ATTRACT REINFORCE

30 - 60 - 90 Strategy

The first ninety days of work will be critical to setting the tone and being prepared to immediately respond to new leasing and existing tenant needs.

First 30 Days: Inform

• Meet with all tenants and walk all vacant spaces and confirm “as built” plans

• Identify suites to create ‘spec’ or market ready spaces

• Update CoStar, Showcase, Loopnet, LPC websites, Social Media sites

• Create media plan to announce takeover (broker event, press releases, etc.)

• Create all marketing collateral for building needed for property tours

30-60 Days: Attract

• Continue email blasts every other week targeted to brokerage community

• Begin outreach to tenants in the immediate area in competing buildings

• Broker event at the building - Target 40 top brokers in the area

60-90 Days: Reinforce

• Follow up with each broker who attended the event

• Schedule meeting to discuss with all tenant rep brokers who could not attend

• Continue tenant outreach in competing buildings

• Continue broker email blasts every other week and ads in publications

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Signage

Email Campaigns

Online Presence

Lincoln Website Listing Services

• Strategically installed to ensure maximum exposure and visibility

• Professional, consistent, readable

• Dynamic, professional monthly teaser eblast of property brochure and highlights

• Managed with MailChimp to ensure optimal open/click rates distributed to regional brokers and local tenants

• Presence on Facebook, Twitter, LinkedIn, Google+, and YouTube

• Featured articles on website - stories have bee picked up by news outlets such as Wall Street Journal, BisNow, and Atlanta Business Chronicle

• www.LPCSoutheast.com• Average approximately 7,500 page views per month• Property Listings showcase brief property details and web-

based property flyers

• www.CoStar.com, www.Loopnet.com, www.Showcase.com,

www.Craigslist.com• CoStar is the #1 commercial real estate information,

analytic and marketing company• Loopnet is the largest commercial real estate listing

service online• Showcase is CoStar’s open-acess service • Property listed on search sites are viewed by thousands

of potential clients and cooperating brokers

LEASING OVERVIEW

Potential Project Rendering

EXPANSIVE INFILL ATLANTA OFFICE PARK WITH SUBSTANTIAL DEVELOPMENT OPPORTUNITY• One of the largest infill class B office parks along the I-85

corridor

• Prominent location at the I-85/North Druid Hills interchange with excellent visibility from over 250,000 cars daily

• Formerly a 1.2 MSF, 30 building park, now consisting of 9 buildings (7 included in this offering) totaling 620,000 SF

• A value alternative to Buckhead office where Class A rents are now exceeding $40 PSF

• One of the few infill Atlanta office options near Buckhead, Midtown, and Emory at rental rates in the $17 - $20 PSF range

• Excellent versatility to accommodate office or medical users

SECURE CASH FLOWING BUILDINGS WITH UPSIDE• 7 buildings totaling 392,007 SF, currently 72% leased to 36 tenants

• Anchored by Emory Healthcare, one of the most prominent healthcare organizations in the US

• Flexibility to implement a lease-up strategy or demolish additional buildings for future development

• Secure cash flow stream to support any potential development plans

RARE INFILL MIXED-USE DEVELOPMENT SITE• As currently zoned, over 40 acres ready for a high-density

mixed-use development

• One of the best located, large-scale development sites available in Atlanta

• Varying development and density options given demand trends in Atlanta

• Highly visible site with frontage on both an interstate and a major thoroughfare

• Current entitlements allow nearly 800 multi-family units, a 200-key hotel, 850,000 SF of new office/medical office, and 450,000 SF of retail

• The proposed new development will elevate the stature of the existing office buildings and provide highly-valued walkable amenities

STRATEGIC & DESIRABLE BROOKHAVEN LOCATION• Expansive site immediately adjacent to I-85 in the newly

established City of Brookhaven

• Well-positioned between two of Atlanta’s top economic engines, Buckhead and Emory/CDC

• Only 4 miles north of Midtown Atlanta

• Outstanding access to top in-town Atlanta communities via North Druid Hills Rd, Briarcliff Rd, Sheridan Rd, and Roxboro Rd

• Adjoining residential ranging from well-established single-family homes to millennial inspired multi-family communities

• Rapidly growing healthcare base in the immediate area, led by Emory and Children’s Healthcare of Atlanta

• Amenity-rich corridor with abundant restaurant options and retail centers

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We excel at creating an identity for the project and buzz in the market through unique marketing ideas.

We received calls from countless brokers asking about these incentives and events because it grabbed their attention and wasn’t the same old marketing pitch.

CREATING A BUZZ

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LEASING STRATEGY

Tenant Rent Allowance Term Escalations Free Rent

1-5k $18.50 $12-$15 3-5 Yr. 3.00% 3-5 Mo.

5-15k $18.00 $15-$20 3-5 Yr. 3.00% 3-5 Mo.

Medical $19.50 $15-$20 3-5 Yr. 3.00% 3-5 Mo.

POSITION INTRODUCE TARGET EXECUTE

Demonstrate to tenants and broker representatives via high-impact images and renderings that highlight:

• Availabilities

• Proximity to major roadways and area amenities

• Move-in-Ready suites

• Leasing incentives for hard to Lease spaces

Create outstanding marketing materials that communicate consistent messaging, emphasizing:

• Location, Location, Location!

• Proactive ownership

• Leasing Specials!

Execute a thorough and creative marketing campaign:

• Direct mail and email to select targets

• Direct phone canvassing to select tenants

• Direct mail and electronic flyers to brokerage community

• Leverage LPC’s national and global platform

Manage assignment to full lease execution:

• Maintain market visibility through continuous prospect and broker outreach

• Evaluate all proposals and LOIs

• Negotiate all business terms with potential tenants

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PROPOSED LEASING FEES

New leases with no outside broker

New leases with an outside broker

Renewals/Expansions/Extensions with an outside broker

Renewals/Expansions/Extensions with no outside broker

Procurement fee equal to the full month’s base rent plus 4% of the aggregate base rental (net of procurement fee) for up to 10 years. One-half paid at lease execution, one-half paid at tenant occupancy and Lease Commencement.

LPC: Procurement fee equal to one-half (1/2) the full month’s base rent plus 2% of the aggregate base rental (net of procurement fee) for up to 10 years. One-half paid at lease execution, one-half paid at tenant occupancy and Lease Commencement.

Outside broker: Procurement fee equal to the full month’s base rent plus 4% of the aggregate base rental (net of procurement fee) for up to 10 years. One-half paid at lease execution, one-half paid at tenant occupancy and Lease Commencement.

LPC: 2% of the aggregate base rental for the lease term. Full commission paid at lease execution.

Outside Broker: 4% of the aggregate base rental for the lease term. Full commission paid at lease execution.

LPC: 4% of the aggregate base rental for the lease term. Full commission paid at lease execution.

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LEASING TEAM

JEFF HENSONVice PresidentM: 770.490.5521O: [email protected]

George GwaltneyLeasing AgentM: 404.245.6203O: [email protected]

University of GeorgiaB.B.A. in Management

Jeff Henson is a Vice President in Lincoln Property Company’s Office Leasing Group, specializing in rep-resenting landlords with the leasing and marketing of single-story and mid-rise office properties.

Mr. Henson joined Lincoln Property Company from CB Richard Ellis where he was an an Associate on one of the largest third party leasing teams in Atlanta. Focus-ing exclusively on representing industrial landlords with the leasing and marketing of 16 million square feet of industrial, flex and single-story office product.

University of Alabama – Bachelor of Business Administration, Finance & Real Estate

George is a native of Atlanta, where he attended Holy Innocents’ Episcopal School before receiving a BBA in Finance with a specialization in Real Estate from the University of Alabama. In the summer of 2012, George interned with Commercial Property Advisors in their Winston Salem, North Carolina office where he learned all aspects of the industry under John Reece. After graduation in 2013, George Gwaltney started his career in commercial real estate as a Leasing Associate with Lincoln Property Company. Over the past two years, George has focused on representing numerous Landlords on the leasing side, playing a key role in sourcing and executing value to their assets. Said clients include HD Realty, OA Development, J4 Asset Management, Satilla Capital, and JP Partners. In 2014 alone, he was able to add 60,000 SF of positive leasing activity to an asset owned by JP Partners.

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PUTTING IN THE TIME

20

EXECUTIVE PARK

AERIAL

We are HUNGRY

Other leasing teams are heavily diluted in the area - your project will be our main focus.

High Level Improvement

Our company is headquartered in Dallas - ensuring your project will have the attention of the highest level executives at LPC.

Fastest Response

We work and respond faster than our competition - we turn proposals and counters around in less than 48 hours and respond to

every broker within a day.

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57

V. OFFICE MARKET ANALYSIS

COMPETITIVE BUILDINGS

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COMPETITIVE BUILDINGS

BUILDING RSFAVAILABLE FOR LEASE

SUBLEASE VACANT SPACE

OCC.RATE

AVG QUOTED

RATE LEASE BROKER OWNERSHIP

Executive Park 361,685 30,543 0 91.56% $17.87 FSTaylor & Mathis, Inc.

Equity Commonwealth

University Office Park

698,183 319,814 0 54.19% $18.36 FS CBRE DRA Advisors, LLC

Clairmont Place 93,754 0 0 100.00% $19.00 FSTriad Properties Corporation

Fairway Investments

1900 Century Pl NE

43,301 3,321 0 92.33% $17.00 FSWheeler / Brand

Prado Properties, Inc.

Century Center North

88,342 38,544 0 56.37% $15.00 MGWheeler / Brand

Gables Residential

Century Center 442,880 49,782 19,238 88.76% $21.50 FSHighwoods Properties

Highwoods Properties

Corporate Square 163,399 96,684 0 40.83% $17.50 FSStream Realty Partners

Lone Star Funds

Druid Chase 80,249 9,528 0 88.13% $21.00 FSAtlanta Property Group

Atlanta Property Group

Blackstone Centre

126,000 4,183 0 96.68% $18.00 FSWiedmeyer & Co.

Phoneix Blackstone, LLC

3300 Northeast Expressway Office Park

49,870 17,370 0 65.17% $16.00 FSThe Miller Group, LLP

Barrister Holdings, LLC

TOTALS 2,147,663 569,769 73.47% $18.12

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LEASE COMPS

BUILDING SF TENANT SUBMARKET CLASSEXEC DATE

L. TYPE TERM RATE SVC ESC TI FREE

1900 Century Place 1,800 WithheldChamblee /

Doraville / N Druid Hills

B 4Q 2015 Expansion 60 $17.50 FS 3% $25.00 0

Century Center North 9,100 WithheldChamblee /


B 4Q 2015 Renewal 36 $15.00 MG 3% $- 0

Century Center 11,667 Patillo ConstructionChamblee /


B 4Q 2015 New 126 $20.00 FS 2% $40.00 8

Century Center 1,361 The Bizzell GroupChamblee /


B 4Q 2015 New 39 $21.25 FS 3% $8.08 3

Century Center 1,960 McCormack Baron

Management

Chamblee / Doraville / N Druid

HillsB 4Q 2015 New 37 $20.00 FS 3% $- 1

Century Center 2,191 GA Veterinary Medical

Association

Chamblee / Doraville / N Druid

HillsB 4Q 2015 New 65 $21.50 FS 3% $13.00 5

160 Clairmont Ave 4,839 McCurdy & Candler Decatur B 3Q 2015 New 64 $25.00 FS 3% $22.00 4

755 Commerce Dr. 1,592 Dentist Decatur B 3Q 2015 Renewal 60 $24.80 FS 3% $- 0

755 Commerce Dr. 4,500 Withheld Decatur B 3Q 2015 Expansion 63 $23.00 FS 3% $3.00 3

160 Clairmont Ave 1,428 Venture Capital Firm Decatur B 2Q 2015 Expansion 39 $25.00 FS 3% $4.00 3

Century Center 11,000 Withheld Northlake / Lavista B 2Q 2015 New 84 $15.00 MG 3% $4.00 0

315 W Ponce De Leon Ave 1,090 Withheld Decatur B 2Q 2015 New 39 $22.50 FS 3% - 3

Corporate Square Building 13 3,717 Atlanta Trial Lawyers Group Northlake / Lavista B 2Q 2015 New 50 $15.75 FS 3% $5.00 4

17 Executive Park 3,078 Physiotherapy AssociationsChamblee /


A 2Q 2015 New 65 $17.75 FS 3% $15.00 5

Corporate Square Building 9 7,742 Life Brite Laboratories Northlake / Lavista B 1Q 2015 New 63 $16.00 FS 3% $17.00 3

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Tenant Name Size (SF)Current Building

Current Submarket

Broker

Rossmore Management Group

800 New Deal New DealNima Ghomghani (CBRE)

Specific Media 2,000 New Deal New Deal Phil Costabile (JLL)

W.R. Nichols & Associates, P.C.

1,500 New Deal New DealWallace Nichols (Direct)

Access Nursing Care

1,200 New Deal New Deal Robert Butler (Direct)

The Partnership 3,000 New Deal New Deal Yancey Stribling (Lee)

Total 8,500 SF

DEALS IN THE MARKET (UNDER 100,000 SF)

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COMPETITIVE SET VACANCIES

BUILDING 1,000 - 5,000 RANGE 5,100 - 10,000 RANGE 10,100 - 15,000 RANGE

Executive Park 5 3 1

University Office Park 13 8 3

Clairmont Place 2 1 0

1900 Century Pl NE 2 0 0

Century Center North 4 3 0

Century Center 7 2 3

Corporate Square 3 2 0

Druid Chase 0 3 0

Blackstone Centre 2 1 0

3300 Northeast Expressway Office Park 2 3 0

TOTALS 40 26 7

With 40 options available under 5,000 SF, differentiating will be critical to creating leasing velocity!

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PROJECT ANALYSIS

STRENGTHS

• Competitive Lease Rates• Strategically located between Buckhead and Emory

adjacent to I-85 at the I-85/North Druid Hills Interchange• Excellent alternative option to Buckhead, where current

Class B office rents are now exceeding $23.00/sf• Vacancies ranging from 1,000 SF – 14,000 SF – suitable for

the prospective tenants for this type of project• Due to the close proximity to Emory Hospital, the property

has great exposure to a mix of office and medical tenants• Signage opportunities available with interstate exposure • Multiple ingress, egress options into the site • The Northlake submarket historically operates at a low

vacancy rate in comparison to others• Recent completion of the flyover bridge that connects

drivers heading south on I-85 get onto Ga. 400 northbound to help assist traffic

WEAKNESSES• Tenants/brokers in the market uncertain of property’s

future use limiting leasing velocity• Dated Common Areas • Current condition and configuration of vacancies• Multiple encumbered views with limited Glass line and

natural light• Lack of walkable Amenities• Demolition of majority of building creates a “battlefield”

appearance• Buildings are largely invisible due to interior location

OPPORTUNITIES• The Northeast Class B office Market saw positive year

end Absorption of 290,269 SF and only 32,000 SF under construction

• Below Market Rents in Place• Value creation with leasing space of 72% leased project • 40 acres prime for a mixed use development opportunity• Proposed Light rail transit that would connect the

Lindbergh Marta station to the Emory CDC corridor• Push rents to medical Users

THREATS• Development Noise Concerns• Uncertain Economic conditions

STRENGTHS

OPPORTUNITIES

WEAKNESSES

THREATS

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LPC’S COMPLIMENTARY LISTINGS

3405 Piedmont RD Lenox Plaza Lenox Center

3405 Piedmont Rd NE,

Atlanta, GA 30305

SF: 91,830 SF

Occupancy: 100.00%

Rate: $24.00

3384 Peachtree Rd NE,

Atlanta, GA 30305

102,689 SF

Occupancy: 82.7%

Rate: $22.00

3355 Lenox Rd NE,

Atlanta, GA 30305

141,877 SF

Occupancy: 93.8%

Rate: $22.00

LPC has 3 boutique, Class B building listings in Buckhead which will provide the opportunity to see more deals and provide cross marketing opportunities

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64

EXECUTIVE PARK

CUSHMAN & WAKEFIELD

55 Ivan Allen Jr. Boulevard, Suite 700, Atlanta, GA 30308The contents of this offering memorandum are strictly confidential as defined in the associated confidentiality agreement executed by the recipient of this offering memorandum. No warranty or representation, express or implied, is made as to the accuracy of the information contained herein, and the same is submitted subject to errors, omissions or other conditions, withdrawal without notice and to any special listing conditions imposed by our principals.

PROPERTY MANAGEMENT

SERVICES

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PROPERTY MANAGEMENT

Maximizing operational efficiencies and creating a quality environment for tenants produces the best possible results for Lincoln’s clients and investors.

We apply our market expertise, high standards, and sound decision-making to each opportunity as it arises. We continually enhance our service capabilities and systems, relying on efficiencies brought by changes in technology and the innovations of the experts we hire to manage our properties. Our organization is built on the skills and expertise of goal-oriented professionals whose primary focus is to deliver consistently superior service and performance.

Lincoln is committed to measuring the quality and effectiveness of our service performance and learning from the results of our efforts. This process of continuous evaluation, response, and improvement ensures quality and consistency at every service level. During our 50 years of experience in building, owning and managing one of the largest commercial real estate portfolios in the United States, Lincoln has developed a management approach that encompasses all service capabilities and systems throughout the organization.

Financial Objectives Lincoln understands that as an owner, each client has specific financial objectives, as well as performance expectations of its service providers.

Staffing Lincoln’s people form the foundation of our property management approach. Lincoln properties are staffed with experienced, organized and goal-oriented teams whose primary concern is the economic interest of the client. Lincoln’s ability to offer consistent service and experienced efficient teams results from our capacity to hire and retain the industry’s most talented people

Cost Containment Through the bundling of services, Lincoln Property Company offers a vehicle to reduce operating expenses to ensure that property operating expenses are minimized while preserving optimal building services that exceed the expectations of tenants.

Tenant Satisfaction/Retention It is the goal of the entire Lincoln team to improve and sustain the highest level of tenant satisfaction possible to retain stable occupancy through the renewal and expansion of current tenant base.

Quality Assurance In order to maintain the highest level of quality Lincoln has well established internal management programs to ensure the level and quality of property management services are continually improved.

Communication is critical Lincoln provides timely, accurate accounting and reporting information and communicates with clients and tenants often and effectively.

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PROPERTY MANAGEMENT PLAN

TAKEOVER TRANSITION TRANSFORMATION

30 - 60 - 90 Strategy

First 30 Days: Inform

• Day 1 First Impressions

• Tenant Introductions

• Set up Accounting System

• Verify Accounts Receivables

• Signage/Branding

• Securing the Vendor Network

• Workorder System Install

• Create a New Level of Service

• 2016 Business Plans Operating Budgets

30-60 Days: Attract

• Survey and Benchmark as a Starting Point

• Low Hanging Fruit - Tenant Focused

• Tenant Comfort and Response (Highest Priority)

• Installation of PM Programs

• Optimization (run times, water temp, etc.)

• Lease Audits

• Contract Audits

60-90 Days: Reinforce

• Complete Building Audits

• Capital Expense Plans Developed

• Staff Evaluation

• Deferred Maintenance

• Tenant Retention Program

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MANAGEMENT SYSTEM

Lincoln’s proprietary database platform provides owners and asset managers with unprecedented tracking, real-time visibility and self-service access to deal & vacancy

information.

Increase Service Levels

Be certain that service and maintenance levels are meeting both your standards, and your

clients’ standards in the most cost effective manner. The solution to driving performance

comes in the form of continuous, real-time proactive measurement and analysis.

Enterprise Grade Security

With self-service features, and greater visibility, allow tenants to view progress status on their service requests. Keep your tenants in the loop proactively.

Accessible On Any Device

Your property data and information is accessible from your smartphone, tablet or desktop. You can now access all of your data and applications no matter where you are.

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ACCOUNTING SERVICES

• Lincoln maintains a fully staffed, centralized accounting department located in Orlando that provides full-scope accounting and reporting services which are included in the management fee structure.

• Timely and accurate reporting of a property’s performance, in a form and format suitable and acceptable to our client.

• Necessary checks and balances to insure that our fiduciary responsibility to the client is realized.

• Timely and accurate reporting of a property’s performance, in a form and format suitable and acceptable to our client.

• Staff structure promotes a comprehensive understanding of the asset and ensures responsiveness and accountability.

• Monthly financial reports, including financial statements, general ledger and all supporting property management and accounts payable subsidiary schedules, are prepared by the Senior accountant and reviewed in detail by the Assistant Controller and/or the Vice President.

• The Property Manager reviews, prepares actual versus budget commentary and incorporates the information along with other operating updates submitted to the client in the monthly operating report.

• Accounting personnel is well versed on today’s leading property management software, MRI, YARDI and Skyline.

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CONSTRUCTION MANAGEMENT

Lincoln provides construction management services for over 71 million square feet nationally and provides construction coordination/construction management services for institutional as well as individual clients across the nation.

BENEFITS

Monetary Savings

Our skilled staff will reduce total project costs on each project through our excellent value engineering services and through the development of a specifically tailored Construction Management Plan similar to what we have developed for other third-party clients.

Time Savings

Lincoln Property Company will complete construction projects in less time through the development and implementation of the Construction Management Plan and by establishing clear channels of communication between all parties involved in the project.

Better Quality and Value

The staff at Lincoln Property Company takes the time to understand their client’s subjective perception of value and will deliver a project tailored to that perception. Again, through constant communication, our clients will have immediate access to all projects.

Professionalism

Lincoln Property Company is comprised of highly skilled and motivated construction management professionals educated in all disciplines of the construction process. Each person on the Lincoln Property Company staff has a personal commitment to getting the job done right with the highest efficiency and quality possible within the clients’ goals.

SNAPSHOT

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ACCOUNTING SERVICES

LINCOLN PROPERTY COMPANY

Tony BartlettSenior VP

SHANE FROMAN

Bob lintault

Jessie belcher

George Hyland kristine o’sullivan

Jeff Clayton

VP of Management Services

ConstructionManager

Property Manager

Regional Controller

Assistant PropertyManager

Director of Engineering

Chief Engineer

Sr. Chief Engineer

Accounting/ReportingConstruction

Project Accountant

Building Engineer

Building Engineer

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SWAT TEAM

Lincoln has found through the years that requiring property management personnel to transition a new assignment while trying to maintain responsiveness to existing tenants often leads to subpar performance on both fronts. When

bringing in new assignments of a certain scale, we have developed a procedure to bring in a SWAT team that are completely focused on transition items in an effort to free Property Management personnel to attend to the needs of new ownership and existing tenants. The SWAT team will be led by Pam Padgett and this team will stay in place

for 30-90 days, or until the assignments are completed. Each team member will be charged with tasks such as forensic accounting audits, cleanup project management, preventive maintenance evaluations and implementation, conducting building walk throughs, night audits and lease abstracts. The effectiveness of the SWAT team has been

proven many times over and is an integral part of Lincoln’s success in transitioning assets.

SWAT Team Members and Responsibilities

Pam PadgettPortfolio Manager/SWAT Team Leader

Conduit between PM team and SWAT. Maintains accountability

Michelle VaughnSWAT Team/Property Manager

“White Glove” project management. Identify and rectify all small repair and clean up throughout the projects.

Christian BeyerSWAT Team/Real Estate Administrator

Review existing vendor contracts and administer change to new ownership.

Weber JodestySWAT Team/Portfolio Accountant

Accounting & Financial Review; Setup and Training

Jeff ClaytonSWAT Team/Director of Engineering

Review engineering procedures. Setup new policies, procedures and training; evaluate personnel; Install PM program and work order systems.Rene Serrano Portfolio Chief Engineer

31

FEE PROPOSAL

Employee Title Base Salary / allocation Salary and Benefits Bonus Eligible

Property Manager $50,000 / 50% $65,000 Yes

Assistant Property Manager

$32,000 / 50% $41,600 Yes

Tenant Service Coordinator

$43,200 / 90% $56,160 Yes

Senior Chief Engineer $10,000 / 10% $13,000 Yes

Chief Engineer $70,000 / 100% $91,000 Yes

Building Engineer $60,000 / 100% $78,000 Yes

Building Engineer $60,000 / 100% $78,000 Yes

Salary Total $422,760

Lincoln Property Company will provide the Property Management and Accounting Services for a base monthly fee of two and a half percent (2.5%) of gross monthly income with a $3,000 per month minimum.

Outside of this fee all direct costs associated with dedicated and allocated personnel (accounting, property management and engineering) will be passed through to the property. Per chart below, the costs of each person will include salary, bonus, burden, and other related costs to be identified in a business plan approved in advance by Owner.

32

MANAGEMENT TEAM

SHANE J. FROMAN, RPAVice President of Property ManagementM: 404.210.8874O: [email protected]

JEFF CLAYTONDirector of EngineeringM: 404.788.9123O: [email protected]

Gainesville College / Lanier Tech

With over fifteen years in the commercial real estate industry, Shane leads the management division of Lincoln Property Company in Georgia and Alabama consisting of 10 million square feet of Office, Retail and Industrial assets. Shane is responsible for establishing Lincoln’s strategic initiatives, accountable for operational policy and financial review, owner communications and ultimately the safeguarding of client’s assets. Over the last 3 years Shane has lead his team in the onboarding and transitioning of over 60 assets. As a leader at Lincoln Property Company Shane is also responsible for expanding business with current and potential clients.

U.S. Navy Air Conditioning and Refrigeration Training ProgramKennesaw State University Management Certificate Program

Jeff is responsible for providing overall technical support and oversight for managed buildings,as well as implementing environmental, health and safety training programs. In addition, Jeff hasoverall responsibility for the administration of the web-based preventive maintenance system,as well as the technical quality assurance program.Prior to joining Lincoln, Jeff was director of engineering at Cousins Properties for more than17 years and was responsible for a portfolio of more than 6 million square feet, including ThePinnacle, Two Live Oak, One Ninety One Peachtree Tower, and Bank Of America Plaza. Additionally,he served honorably in the United States Navy aboard an aircraft and helicopter carriers in theengineering division.

33

JESSIE BELCHERProperty ManagerM: 470.514.2571O: [email protected]

Bachelor of Science in Computer OperationsGeorgia Perimeter College – Honors Graduate

Jessie is a thirteen year employee with Lincoln and during her tenure Jessie has managed various types of assets including office and industrial with portfolios well over a million square feet. Jessie has worked with some of Lincoln’s largest and most strategic clients to include Equity Office Properties, Colony Realty Partners, Morgan Stanley, JP Partners, and Printpack Inc. She is a results-driven professional who has worked her way up through Lincoln and is dedicated to her assets and cli-ents. Jessie creates strong relationships with her clients and focuses on their strategic approach and invest-ment strategy to ensure appropriate financial out come during the hold period.

3

I. EXECUTIVE SUMMARY

ATLANTA’S FIRST MASTER-PLANNED OFFICE PARK

Built in the early 1970s by one of Atlanta’s most respected developers, Taylor & Mathis, Executive Park was one of Atlanta’s first mixed-use master-planned parks. With 27 office/medical office buildings totaling 1.2 MSF at its height, Executive Park paved the way for today’s office and retail markets surrounding the intersection of I-85 and North Druid Hills Road.

• Expansive 70-acre park with buildings ranging from one to six stories

• Tranquil park setting featuring tree-lined and landscaped parkways

• Superior access and circulation via I-85, a signalized entrance via North Druid Hills Road, and two “back door” entrances from Sheridan Road

• Building 12 was the final building completed in 2001 as a build-to-suit for the CDC (not included in this offering)

• Historically recognized as a strategic office location for national tenants including the CDC, Lockheed Martin, Emory, Montlick & Associates, and Manhattan Construction Group

Sheridan Road


Exec

utive

Park Drive

59

57

50

1712

6

5

7

3

43

4

11

14 16

1831

37

3335

8

2

2022

2624

4E

ParkingDeck

52

Retail

Courtyardby Marriott

Bria

rcli�

R

oad

Chantilly Driv

e

85

EXECUTIVE PARK ORIGINAL SITE PLAN (PRE 2004)

34

REFERENCES

1 3

2 4

Equity Office PartnersLeasing/Management/Construction Management (32 Buildings, 3.2 MSF) Rob Shultz Vice President 2311 Cedar Springs Rd, Suite 300 Dallas, TX 75201 972-656-2240

Colony Realty PartnersLeasing /Management/Construction ManagementDuncan WoodardAsset ManagerTwo International Place, Suite 2500Boston, MA 02110617-235-6337

Morgan StanleyDisposition/Leasing/Management/Construction ManagementDevin BarnwellExecutive Director 3424 Peachtree Rd. NE, 9th FloorAtlanta, GA 30326 404-846-1322

OA Development, Inc.LeasingBrian GranathPartner3000 Northwoods Parkway, Suite 260Norcross, GA 30071678-441-0001

35

COMPANY OVERVIEWABOUT LPC

36

LPC TODAY

• 50 Year old company. Privately Held,

consistent ownership.

• 180 million + SF managed/leased

• 7,000 employees

• 125,000 Multi-family units managed

• 38 Offices in U.S. and 6 offices

in Europe

•Lines of business: Management, Leasing, Brokerage, Acquisitions, Dispositions, Development, Construction Management and Advisory Services

•Top Ranked Developer, 5th Largest Property Manager in U.S., Commercial Property News (2008)

• $7 Billion of office and industrial acquisitions over the last 15 years

•Lincoln’s institutional client list includes such names as American Realty Advisors, Invesco, Morgan Stanley, Prudential, RREEF, TIAA-CREF, UBS and many others

LPC FACTS

Lincoln Property Company is one of the largest and most respected diversified real estate services firms in the United States and is the only national real estate company to rank concurrently in the Top 10 lists of Management/Ownership of Office, Industrial and Multi-family.

With an international footprint that includes offices in 38 cities across the United States and 6 cities in Europe and South America, Lincoln remains a privately and closely held company. As a matter of corporate intention and philosophy, the company has operated virtually debt-free since the early 1990’s, uniquely positioning itself to provide focus and performance as well as consistency and stability to its clients and employees in the economically challenging times of today.

This corporate philosophy combined with 50 years of global real estate experience and the ability to “think like an owner” is what differentiates Lincoln from other service providers and real estate companies. The company’s history of developing and acquiring assets for its own account – as well as providing a full cadre of services to other owners over the span of the last four decades – has created a culture throughout the firm whereby each employee treats each third party assignment as if it were owned by the company. Consequently, the company’s goal is to hire, train, and retain employees that “take ownership” in each and every assignment.

38

SOUTHEAST REGION

Lincoln’s Southeast regional organization was established in 1973 and has grown to become one of the firm’s largest and most successful operations through the management, acquisition and development of over 13 million square feet of commercial property valued at over $1.25 billion.*• • • Lincoln Southeast leads the way for Lincoln Property

company as a major third party service provider with a focus on office, industrial and retail investment properties and corporate property services

• • • Lincoln currently manages approximately 13 million

square feet of commercial property in the Southeast predominantly for third party clients

• • • Lincoln serves the Southeast through 3 regional offices

and 60 client service offices employing over 100 full time professionals

*Excludes any property owned, managed or leased by Lincoln-Harris, Lincoln Property Company’s operating group

covering the Carolinas.

38% OWNED

62% THIRD PARTY

PERCENTAGE OF REVENUES FROM

OWNED AND THIRD PARTY SERVICES

28

EXECUTIVE PARK

BUILDING 57

5th Floor

4th Floor

3rd Floor

2nd Floor

1st Floor

19,613 SF

19,613 SF

19,613 SF

19,613 SF

18,133 SF

Total 96,585 SF

Available 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025+ Mgmt



Emory UniversitySuite 30010,781 SFApr-2017

Personalized PrimaryCare Atlanta, LLC

Suite 315/3902,432 SF

Feb-2023

AvailableSuites 360/370/380

6,400 SF

Emory Healthcare, Inc.Suite 200/250

19,613 SFMay-2023

AvailableSuite 1202,646 SF

AvailableSuite 140

390 SF

The Emory Clinic, Inc.Suite 100/160/190

13,808 SFAug-2020

H&ZAcupuncture, LLC

Suite 1301,289 SF

Feb-2021

3405 Piedmont Rd NE,Suite 450

Atlanta, GA 30341

404.266.7600

www.lpcsoutheast.com

executive park proposal

Documents