|Price/Rent PSF||$ 15,381,000.00|
|SQ. FT. Available||142,443|
Union City is a thriving suburb of the metro-Atlanta which the US Census recently named the fourth-fastest growing population in the nation. Atlanta, which is already well known as one of the largest metropolises in the south, just saw a 1.29% population increase from 5,874,249 in 2017 to 5,949,951 in 2018. Right along with the population growth, job growth has moved at an equally rapid pace with employment increasing 2.4% year over year which is 0.7% higher than the 1.7% national rate of job growth. Between population and job growth alone, it no surprise that Atlanta ranks third in cities that house the most Fortune 500 Companies. It also ranks third in “Best Cities” for startups, just under New York and San Francisco.
What is even more impressive than startups and Fortune 500 companies flocking to the area, is the film industry’s growth and success. Atlanta has been recently named the number one place to live and work as a filmmaker by Moviemaker.com. In 2008 then-Governor Sonny Perdue signed a generous tax incentive for film productions. The law’s incentive is similar to that of New York and Louisiana; however, Georgia’s law has no end date. From 2007 to 2016 the film industry has exponentially increased its spend on productions from $93 million to over $2 billion. Georgia’s government estimates that in 2016 alone the film industry gave the state a $7 billion economic boost. Furthermore, there is evidence of longevity in the film industry finding a southern home in Atlanta. Studios, such as Pinewood which has hosted Marvel films, are building permanent campuses. Furthermore, the state has funded educational institutions to further foster the growth, such as the Georgia Film Academy which trains aspiring crew members and provides graduates a direct line to local production companies in the area.
Located just 15 minutes from the center of Atlanta’s downtown, many individuals are opting for the convenience of Union City which offers practicing professionals a daily short commute. Moreover, being less than 10 miles to Hartsfield International, the world’s largest airport, those who travel often for work find the location to be unbeatable. The southern charm of the area can’t be missed during a short drive through many citizens named streets while taking in the scent of dogwood trees, crepe myrtles, and Georgia’s famous Bradford pears. It is no surprise Union City welcomes so many individuals looking for a strong southern community to call their home.
The median resident age for Union City speaks to the flourishing professional population coming in 5 years younger than the median age for Georgia residents at 31 years old. Union City is nestled within a booming region for large corporations, residential real estate is in high demand with no signs of stopping. National firms have flocked to the area including GE, Costco, Caterpillar, and Kraft Foods. Furthermore, e-commerce focused industry leads have recently set up their warehouse distribution facilities in Union City, including ASOS, Procter & Gamble, Amazon, and Walmart.
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This Build for Rent (BFR) investment portfolio in metro-Atlanta allows a buyer to work with an experienced BFR developer to acquire up to approximately 90 to-be-built townhomes. The developer/builder operates in multiple states, allowing a programmatic investor the opportunity to work with one builder to acquire multiple communities in multiple MSAs in Florida and Georgia. The builder also operates property management services if desired.
The opportunity allows an investor to acquire either the remaining townhomes or a smaller number of homes. The community is located close to downtown Atlanta yet is still affordable.
This investment portfolio is comprised of approximately 90 townhomes. The community will consist of two floorplans. The 3-bedroom, 2.5-bathroom home will be 1,547 square feet. The 1,666 square foot home will have 4-bedrooms, 2.5-bathrooms. The site development plan comprises 63 3-bedroom homes and 27 4-bedroom homes.