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Home My WebLink About20111937.tiff CLERK TO THE BOARD PHONE (970) 336-7215, Ext. 4226 Kitt FAX: (970) 352-0242 1150 O STREET P. O. BOX 758 ' GREELEY, COLORADO 80632 C. COLORADO August 26, 2011 BROCKWAY GLASS CONTAINER INC ONE MICHAEL OWENS WAY ONE O-1 PLAZA TAX DEPT PERRYSBURG, OH 43551-2999 RE: THE BOARD OF EQUALIZATION, 2011, WELD COUNTY, COLORADO - STIPULATE PETITIONER'S APPEAL AND AFFIRM ASSESSOR'S VALUE DESCRIPTION OF PROPERTY: ACCOUNT#: R2704603 PARCEL#: 080725200049- N2NW4 25-6-67 LYING S OF RR EXC BEG NW COR SD SEC 25 S454.84 E30'TO TPOB TH ALG CURVE CONCAVE TO W (R=605) CHORD=S05D32'E 110.15' SOD19'E 228.26' TH ALG CURVE CONCAVE TO NE (R=525') CHORD=S35D05'E 638.29' TH S89D01'W 352.54' TH N0D19'W 834.11' TO TPOB (. Dear Petitioner: On July 26, 2011,the Board of County Commissioners of Weld County, Colorado, convened, and acting as the Board of Equalization, pursuant to Section 39-8-101, C.R.S., et.seq., considered the Stipulation on your petition of appeal of the County Assessor's valuation of your property described above, for the year 2011. The Stipulation was entered into between the Assessor and said petitioner(s),and accepted by the Board of Equalization, agreeing that the assessment and valuation of the Weld County Assessor be Stipulated as follows: ACTUAL VALUE AS ACTUAL VALUE DETERMINED BY AS STIPULATED ASSESSOR $41,664,302 $38,934,964 l Y/�66?e'// 20111 7 Cam: �j�� r AS0079 BROCKWAY GLASS CONTAINER INC - R2704603 Page 2 If you have questions or need additional information, please do not hesitate to contact me at (970) 336-7215, Extension 4226. Very truly yours, ‘ Esther E. Gesick Deputy Clerk to the Board cc: Christopher Woodruff, Assessor DUCHARME MCMILLEN AND ASSOCIATES INC 20830 NORTH TATUM BLVD STE 390 PHOENIX, AZ 85050 2011-1937 AS0079 2011 COUNTY BOARD OF EQUALIZATION WELD COUNTY ASSESSOR'S ACCOUNT NUMBER R2704603 STIPULATION (As To Tax Year 2011 Actual Value) RE PETITION OF : NAME: Brockway Glass Container, Inc. ADDRESS: One Michael Owens Way Perrysburg, OH 43551-2999 Petitioner(s),Brockwav Glass Container, Inc. and the Weld County Assessor, hereby enter into this Stipulation regarding the tax year 2011 valuation of the subject property, and jointly move that the Board of Equalization to enter its order based on this Stipulation. Petitioner(s) and the Assessor agree and stipulate as follows: 1. The property subject to this Stipulation is described as: N2NW4 25-6-67 LYING S OF RR EXC BEG NW COR SD SEC 25 S454.84 aka One Michael Owns Way, Perrysburg, OH 43551-2999 2. The subject property is classified as COMMERCIAL property. 3. The County Assessor originally assigned the following actual value to the subject property for tax year 2011. Land $ 3,680,718 Improvements$ 37,983,584 Total $ 41,664,302 4. After further review and negotiation,the petitioner(s) and Weld County Assessor agree to the following actual value for the subject property. Land $ 3,680,718 ImprovementsS 35,254,246 Total $ 38,934,964 2011-1937 5. The valuations, as established above, shall be binding only with respect to tax year 2011. 6. Brief narrative as to why the reduction was made: Value was adjusted based upon the general market prices per sq.ft. that were in place in the base period, and an analysis of the subjects costs with additional depreciation. 7. Both parties agree that the hearing scheduled before the Weld County Board of Equalization on DATE at TIME am be vacated; or, a hearing has not yet been scheduled before the Board of Equalization x (check if appropriate). DATED this Of 13th of July, 2011. / Petitioners) r Attor y Petitioner(s) or Attorney Addr ss: � Address: U �d ,J. f ?�.1rr1 5(�'D &Att'E -?4n1 x,‘ AZ- 1;S.E1, Telephone(c�)Q� 7(q_25-54 Telephone: 7-4#(11 County Ass sor Address: 1400 N.17th Avenue Greeley, CO 80631 (970) 353-3845 ext. 3656 NOTICE OF DETERMINATION Christopher M. Woodruff Date of Notice: 6/22/2011 Weld County Assessor Telephone: (970) 353-3845 or (720) 652-4255 1400 N 17th Ave Fax: (970) 304-6433 Greeley, CO 80631 E-mail: appeals@co.weld.co.us www.co.weld.co.us Office Hours: 8:00 AM - 5:00 PM SCHEDULE/ACCOUNT NO. TAX YEAR TAX AREA LEGAL DESCRIPTION/ PHYSICAL LOCATION R2704603 2011 0436 N2NW4 25-6-67 LYING S OF RR EXC BEG NW COR SD SEC 25 5454.84 E30' TO TPOB TH ALG CURVE CONCAVE TO W (R=605) w BROCKWAY GLASS CONTAINER INC CHORD=S05D32'E 110.15' S0D19'E 228.26' o ONE 0-1 PLAZA TAX DEPT TH ALG CURVE CONCAVE TO NE (R=525') ONE MICHAEL OWENS WAY CHORD=S35D05'E 638.29' TH S89D01'W ¢ PERRYSBURG,OH 43551-2999 352.54'TH N0D19'W 834.11'TO TPOB(. a s 11133 64.5 CR,WINDSOR a ASSESSOR'S VALUATION PROPERTY CLASSIFICATION ACTUAL VALUE PRIOR TO ACTUAL VALUE AFTER REVIEW REVIEW INDUSTRIAL 40,845,302 40,845,302 VACANT LAND r.1 819,000 819,000 JAN 3 0 2011 Y R '^ TOTALP $41,664,302 $41,664,302 The Assessor has tarefully studied all available information, giving particular attention to the specifics included on your protest. The Assessor's determination of value after review is based on the following: CM01 - The Colorado Constitution requires commercial property to be valued based on actual value and assessed at 29%. Replacement cost, market, and income are approaches used to determine the actual value of your property. If you disagree with the Assessor's decision, you have the right to appeal to the County Board of Equalization for further consideration, § 39-8-106(1)(a), C.R.S. The deadline for filing real property appeals is July 15. The deadline for filing personal property appeals is July 20. The Assessor establishes property values. The local taxing authorities (county, school district, city, fire protection, and other special districts) set mill levies. The mill levy requested by each taxing authority is based on a projected budget and the property tax revenue required to adequately fund the services it provides to its taxpayers. The local taxing authorities hold budget hearings in the fall. If you are concerned about mill levies, we recommend that you attend these budget hearings. Please refer to last year's tax bill or ask your Assessor for a listing of the local taxing authorities. • Please refer to the reverse side of this notice for additional information. DUCHARME MCMILLEN & ASSOC INC 20830 NORTH TATUM BLVD SUITE 390 ':a PHOENIX AZ 85050 APPEAL PROCEDURES County Board of Equalization Hearings will be held from July 1 through August 5 at 915 101h Street, Greeley, CO To appeal the Assessor's decision, complete the Petition to the County Board of Equalization shown below, and mail or deliver a copy of both sides of this form to: Weld County Board of Equalization 915 10th Street, P.O. Box 758 Greeley, CO 80632 Telephone (970) 356-4000 Ext, 4225 To preserve your appeal rights, your Petition to the County Board of Equalization must be postmarked or delivered on or before July 15 for real property and on or before July 20 for personal property—after such date, your right to appeal is lost. You may be required to prove that you filed a timely appeal; therefore, we recommend that all correspondence be mailed with proof of mailing. You will be notified of the date and time scheduled for your hearing. The County Board of Equalization must mail a written decision to you within five business days following the date of the decision. The County Board of Equalization must conclude hearings and render decisions by August 5, § 39-8-107(2), C.R.S. If you do not receive a decision from the County Board of Equalization and you wish to continue your appeal, you must file an appeal with the Board of Assessment Appeals by September 12, § 39-2-125(1)(e), C.R.S. If you are dissatisfied with the County Board of Equalization's decision and you wish to continue your appeal, you must appeal within 30 days of the date of the County Board's written decision to ONE of the following: Board of Assessment Appeals District Court 1313 Sherman Street, Room 315 9th Avenue and 9th Street Denver, CO 80203 P.O. Box C (303) 866-5880 Greeley, Colorado 80632 www.dola.colorado.qov/baa (970) 356-4000 Ext. 4520 Binding Arbitration For a list of arbitrators, contact the County Commissioners at the address listed for the County Board of Equalization. If the date for filing any report, schedule, claim, tax return, statement, remittance, or other document falls upon a Saturday, Sunday, or legal holiday, it shall be deemed to have been timely filed if filed on the next business day, § 39-1-120(3), C.R.S. PETITION TO COUNTY BOARD OF EQUALIZATION What is your estimate of the property's value as of June 30, 2010? (Your opinion of value in terms of a specific dollar amount is required for real property gJrsuJan to § 39-8-106(1.5), C.R.S.) I su / What is the basis for your estimate of value or your reason for requesting a review? (Please attach additional sheets as necessary and any supporting documentation, i.e., comparable sales, rent roll, original installed cost, appraisal, etc.) S l=,a_l(1Lo5 i Coi&j GF LI( t. iiJA-u Stternt—e :n('i,t fYlt. ---1Jyt_ ATTESTATION I th undersign owner or agent' of the property identified above, affirm that the statements contained in and op y attachments hereto are true and complete. 1 � 11IZQ) ` Signature \Telep on Number Date ' Attach letter of authorization signed by property owner. kxx�;,t ty Owens-Slums,Inc. .@ ,x`4+ ;' One Michael Ovens Way ..!:,I. ,Cr Perrysburg.Ohlo 43551-2999 S"A a* t +1 567 336 5895 tel g u +1 567 336 1308 fax w.va.o-i.can • PROPERTY TAX CERTIFICATE OF AUTHORITY Date: May 24, 2011 TO WHOM IT MAY CONCERN: This certifies that DuCharme, McMillen &Associates, Inc. and/or its designees is hereby authorized to represent the undersigned in all matters of property tax assessments before any governmental assessing officials or any other authority having jurisdiction regarding the assessment levied on the following described property for 2011-12 and 2012-13 tax years: Owens-Brockway Glass Container, Inc. 11133 County Road 64 - Acct#R2704603 Windsor, Weld County, Colorado (Signature) /J Michael E. Taylor (Typed Signature) Manager, Property taxes (Corporate Title) Owens-Brockway Glass Container, Inc. (Company) )may State of V/..AW County of 00 The foregoing instrument was duly acknowledged before me by !Y I r(hp e,/ �y/� for the uses and purposes therein expressed. )fitness my hand an Notarial Seal, this of -I day of -( , 2o i f 7 ( AJo Notary ub aw/ MARSNA J IMAMMy commission expires: 8 — Z �+'_ _____ NOTARY PUBLIC _,; c STATE Of OHIO '4 dr My Comm. Expires `vow.st'lt line 3.2012 r N CO V N UJ Li-U N N N LID LO 0 W° N CO 0 O co Lo 0 0 a o O O d N CO W 0 NW NW N r 69 69 W C O N O r CO., N N W W cc • II II In U N 0 0 0 0 0 K M 00000 a) , a v O O o CJ 0 to m -o CD ou) )° o � W (0 O (0N CO W N O '00 UN W f A W rW E A ¢ O O 69 CC U r (° m W N 0 N N ° i er tC N <h r r r 'Q r O = V (a Lb O z 0 O 0 0 Ea) 0 a) a) 0) CD U Z A m CO m CO ��` £ Z > 0 0 0 0 0 v = E 0 Q w Q Q ¢ Q Z U h 0 W '0 N Z 71.1 CCI Q 0 Z o - W w Q o El m Q Q m r m a y E o v U O t° A r (0 0 LL O r0O C (O CC 3 F 0co W N LO N O O (O �CO 7 r N CON (0 COr0 N CO O O N. CO W(DC O 0 N Ce U CO M CO Z r CO CO m W r 0 0 0 0 0 O Q W Cr N O O N N @ CO >.- Z a (CO ` OC > 0 0) r a) a o a <a W 2 a) Q UO ZO (n Q0 0 n 2 a 0 N 0 s 0 C C O 0 > aY O n d co 0Q N E O } G m m c F p @ r N CO V LO , k,AS5 DeerrRidge Rd PratEStatesyJIle SOLD 1bu F- t t % r k' m a • �1At��)ttdas�te,`I#t?ari( y"z,Pp�'� �� a� {e x **Ant: ds s ,S19,1142{S-� 61fC.0 Uk,Ti k�;.Ki� 1 aleo% ,;,.34:6 1:SF CIass-B'Manufaotunng' Bqi {biiilf tiCi< €n LLz - op j 0 550 yde zio Virtual Earth" a Jim 4: w r :.J .O i/1 L' t ,� qr., Buyer B Soiler Contact tnfo . - Recorded Buyer: Cd138 Statesville Lic Recorded Seller: Pratt Industries True Buyer: Taurus Investment Holdings,LLC True Seller. Pratt Properties 1350 E Newport Center Dr 1800 Sarasota Business Pky Deerfield Beach, FL 33442 Conyers,GA 30013 (954)428-4585 (770)918-5678 Buyer Type: Investment Manager Seller Type: Corporate Buyer Broker: No Buyer Broker on Deal Listing Broker: Jones Lang LaSalle Jay Koster (212)418-2685 Jones Lang LaSalle Christopher Skibinski (704)943-2300 Staubach Retail Michael Hochanadel (212)418-2692 •Transaction Details ID:1549812 Sale Date: 06/30/2008(106 days on market) Sale Type: Investment Escrow Length: 30 days Bldg Type: Manufacturing Sale Price: $14,000,000-Confirmed Year Built/Age. Built in 2008 Asking Price: - RBA: 356,541 SF Price/SF: $39.27 Land Area: 22.79 AC(992,732 SF) Price/SF Land Gross: $14.10 Percent Leased: 100.0% Tenancy: Single Pro Forma Cap Rate: 7.64% Sale Conditions: Sale Leaseback Transfer Tax: $28,000 No.of Tenants: 1 Tenants at time of sale: Pratt Industries This wpynghted report contans research licensed to ouetenne,MCMiien Si Associates,Inc.-100205. 5/25/2011 �A Page 1 185 Deer Rldge;Rd Pratt Statesville SOLD 356541 SF.'Class B Mania nng Budding BuAt 008, co tl ` Financing: TD Banknorth Legal Desc: VICKERY NC 90 OFF Parcel No: 4725.08-1415.000 Document No: 1951-0219 _ �:.. .�Transaction Notes. The listing broker and buyer verified the single-story 356,541 SF industrial building sold for$14 M.The NOI was$1,069,623,the expenses were not available.The cap rate of 7.64%was determined from the NOI and sales price,however,was not confirmed. As reported on the listing brochure the market vacancy in the Charlotte area for industrial buildings was 10.4%at the end of 2007. The current market vacancy was not available. The seller leased 100%of the property back for 15 years.There were no other conditions to the sale. The plat map was not available at the time of publication. Current Industrial Information ID:6452785'. Bldg Type: Manufacturing RBA: 356,541 SF Bldg Status: Built in 2008 %Leased: 100.0% RenUSFA'r: - Stories: 1 Bldg Vacant: 0 SF Total Avail: 0 SF Building FAR: 0.36 Warehouse Avail: 0 SF Office Avail: 0 SF CAM - Max Contig: - Zoning: Industrial Smallest Space: - Owner Type: Investment Manager Land Area: 992,732 SF Owner Occupied: No Lot Dimensions: - Tenancy: Single Ceiling Height: 30'0"-36'0" Column Spacing: - Loading Docks: None(bldg.total) Levelators: None Cross Docks: - Crane: None Drive Ins: 6/14'0"w x 12'0"h(total) Const Type: Masonry Sprinklers: - Rail Spots: - Rail Line: None Property Mix: Industrial (100.0%) Office 20,000 SF (5.6%) Power: 3000a/480v 3p Location Information Park Name: West Industrial Park Metro Market: Charlotte Submarket: Iredell County Ind/Iredell County Ind County: Iredell CBSA: Statesville-Mooresville,NC CSA: Charlotte-Gastonia-Salisbury,NC-SC DMA: Charlotte,NC-SC This copyrighted report contahs research licensed to DuCrerme,McMillen&Associates,Inc.-100206. 5/25/2011 Page 2 2200-2390 Spiegel Dr Funai Corporation SOLD' .,. ft r fttckenbaokerlrtenmodal Park'" s ,""Gioveport,0)443125 Southeast Ind Submarwket ' ft Salton 04/0312009Tor$6,65D 000'(($21.651SF) Research Complete aca . u'v3p7 200 SF CWss.`CJa>anu(achuing Bu1JtingBui(t m,t997a. ,` . _ _ .. . ` � a Ay' r for )- J t., r 5f Ids `` Virt I Earth"' ,- < Buyer&Seljec`Cdnt2cfinfo ' .. .. Recorded Buyer: TCG I Groveport LLC Recorded Seller: FR NLF 8, LLLC True Buyer: Trident Capital Group True Seller: First Industrial Realty Trust,Inc. 15 Broad St - 311 S Wacker Dr Boston,MA 02109 Chicago,IL 60606 (617)210-7942 (312)344-4300 Buyer Type: Developer/Owner-NTL Seller Type: REIT Buyer Broker: No Buyer Broker on Deal Listing Broker: CB Richard Ellis George Stecz (614)430-5009 Don Roberts (614)224-1492 1D1693170.'. Sale Date: 04/03/2009(62 days on market) Sale Type: Investment Escrow Length: 30 days - Bldg Type: Manufacturing Sale Price: $6,650,000-Confirmed Year Built/Age: Built in 1997 Age: 12 Asking Price: - RBA: 307,200 SF Price/SF: $21.65 Land Area: 21.40 AC(932,184 SF) Price/SF Land Gross: $7.13 Percent Leased: 100.0% Tenancy: Single Percent Improved: 86.4% Pro Forma Cap Rate: 9.38% Total Value Assessed: $8,530,900 in 2008 Actual Cap Rate: 9.38% Improved Value Assessed: $7,371,800 Sale Conditions: Investment Triple Net Land Value Assessed: $1,159,100 Land Assessed/SF: $1.00 No.of Tenants: 1 Tenants at time of sale: Funai Corporation Financing: Down payment of$2,170,000.00(32.6%) $8,820,000.00 from Unknown Legal Dese: Shook Rd R22 Trt 4 S36 16.084 8 6.255 acres TMs copyrighted report=Mans research licensed to DuClerme,McMilen&Associates,Inc.-100205. 5/25/2011 01/41/41i Page 3 2200-2300 Spiegel Dr. rFuna Corporitiot SOLD' 307200 SFCIassC Maapfactudng Buuu tpg 8wtt j99z(conk) Parcel No: 495-233211,495-239967 Document No: 200900000048643 Sale History: Sold for$6,650,000($21.65/SF)on 04/03/2009 Sold for$9,000,000($29.30/SF)on 03/28/2005 Sold for$8,477,100($27.59/SF)on 09/30/2002 TransactionNotes , The seller&buyer verified the sale of the 307,200 SF industrial building for$6.65 million.The property was under contract for 30 days. There were no special conditions or deferred maintenance to the sale. There were no 1031 tax exchanges. The seller reported the actual &pro-forma cap rate was 9.38%. A 5%vacancy rate was factored in even though the property was fully leased.The buyer did not comment on income,expenses or cap rates. It was reported the building was delivered fully leased. The triple net lease is$4.40 PSF. The rent wilt increase in 2010,and remain for the remainder of the lease. The buyer was self represented. The buyer motivation was a good solid investment industrial building in good condition in a good location. The seller's motivation was the property was held in a fund.Once the value was created it was decided to exit because the asset management plan was achieved. According to the deed the property is situated within Foreign-Trade Zone#138. Media source: http://www.bizjournals.com/columbus/stories/2009/04/27Inewscolumn 1.html?ana=from_rss Income/Expenses: 2008 Property Taxes are$249,255.60 " "''` '` '� :t' r T"' Current Industrial Information " dt):600864._ Bldg Type: Manufacturing RBA: 307,200 SF Bldg Status: Built in 1997 %Leased: 100.0% Rent/SF/Vr - Stories: 1 Bldg Vacant: 0 SF Total Avail: 0 SF Building FAR: 0.33 Warehouse Avail: 0 SF Office Avail: 0 SF CAM - Max Contig: - Zoning: M,Groveport Smallest Space: - Owner Type: Developer/Owner-NTL Land Area: 932,184 SF Owner Occupied: No Lot Dimensions: 650x1371 Tenancy: Single Ceiling Height: 27'0"-30'0" Column Spacing: - Loading Docks: None(bldg.total) Levelators: None Cross Docks: - Crane: None Drive Ins: 1/9'0"w x 14'0"h(total) Const Type: Masonry Sprinklers: ESFR Rail Spots: None Rail Line: None Property Mix: Industrial 304,128 SF (99.0%) Office 3,072 SF (1.0%) Expenses: 2005 Combined Tax/Ops i $0.14/sf;2000 Est Ops @$0.25/sf Power: 1600a/480v 3p Utilities: Gas-Natural, Heating-Gas,Sewer-City,Water-City Parking: 64 free Surface Spaces are available; 50 Industrial Trailer Spaces are available; Ratio of 0.21/1,000 SF Features: Corner Lot,Foreign Trade Zone Location Information Park Name: Rickenbacker Intermodal Park Metro Market: Columbus This copyrighted report contans researth licensed to Ducrarma,McMillen&Associates,Inc.-100205. 5/25/2011 �a Page 4 • P 'I•A 2200-2300,Sptegel Dr �Funa►Corporaftori • SOLD: 307 200 SF ClasspG Manufactunng B�u(Idinghan 1997 rtk) r Submarket: Southeast Ind/Southeast Ind County: Franklin CBSA: Columbus,OH CSA: Columbus-Marion-Chillicothe,OH DMA: Columbus,OH Map(Page): MetroGraphic Art 53-P27 This copyrightecl report contahs research licensed to Ductanne,McMillen 8 Associates,Inc.-100205. 5/25/2011 l0\_M/A Page 5 2200 239OSpiegel Dr Fu ai.Corpor on ; SOLD 307 200 SFCiass C tu(ahuNdctunng,Bul,dirlg-Built ur1997(corn); " Parcel Number: 495.233211,495-239967 Legal Description: Por sec 36 T4 R22 Congress Lands vol 29436, pg E19 County: Franklin ,≤;,e 1, PlatMap,,22002300 Spiegel Dr 7 Funai Corporation I i /A 7 „ ift CS:l.e.. a -4 V1••••••l� ' ' + / '' r Pric -7/f r r ` Diu, i/ /i — - - / / le"------k;-;..L SPIEGEL D / / II rr r,l i / PA G g / i L r ...... 9 1 ,1 jI This copyrighted report contahs research licensed to DVClerrne,MCMllen&Associates,Inc.-100205. 5/25/2011 I1/42-M. 6 10841nteDati0rtal PI -' E`r ,rcr' G F5 t �, of} C,-1, r . 4 d : fr, e e tr 3 SOLD F."�49, 801 �a� e -4ouh SU ltat'Y S s t r r cw Sale on' X103 201U1fdr2P5Q�giltiM/SF Reseacct��Ceim�lete ; u`33021668 SF CI?s4 Manufactu_lig'Buifding SulR''i X997 `_,c • - c'.- A 5; i, 1 3 r.. 4.4- -1- v O I " //4,:#.' s vat X00 yd: M:nosofi' ry, t Virtual Earth" J urs iis� l J_+.vn_a ,w 1r-,K r r;; n'r a B erfeller ContaetInfif ' ' -', F, d,,- ,� t Recorded Buyer: MTU Detroit Diesel,Inc. Recorded Seller: SKF USA,Inc. True Buyer: MTU Detroit Diesel,Inc. True Seller: SKF USA,Inc. 13400 Outer Drive SI W 1111 Adams Ave Detroit,MI 48239 Norristown, PA 19403 (313)592-7000 (267)436-6000 Buyer Type: Corporate Seller Type: Corporate Buyer Broker: Hart Corporation Listing Broker: Hart Corporation Don Moss Robert Blackman (704)541-1393 (215)322-5100 Hart Corporation Don Moss (704)541-1393 Tommy Turner (704)541-1393 r' Tnnsactron Details . - :1D:1886856 Sale Date: 03/0112010(297 days on market) Sale Type: Owner/User Escrow Length: 150 days Bldg Type: Manufacturing Sale Price: $6,250,000-Confirmed Year Built/Age: Built in 1997 Age:13 Asking Price: $7,900,000 RBA: 302,668 SF Price/SF: $20.65 Land Area: 50 AC(2,178,000 SF) Price/SF Land Gross: $2.87 Percent Leased: 0.0 Tenancy: Single Percent Improved: - Transfer Tax: $23,125 Total Value Assessed: $608,377 in 2008 Improved Value Assessed: - Land Value Assessed: $608,377 Land Assessed/SF: $0.00 Financing: Down payment of$6,250,000.00(100.0%) Legal Desc: Por Trt B-8 International PI ROW Bettis Academy Rd DBK 4253 Pg 950 This copyrighted report cantons researr'licensed to oucrerme,McMillen A Associates,Inc.-1D0205. 5/25/2011 kenPage 7 1084 International P.t S YYee YYxx ''vv� SOLDisr 144, 302668 SFC1assA enU♦'eoW0ng BUil irlg Its/fe00fM, },- ' rtI • sr5- O Parcel No 048-00-09-001,048-00-09-003,048-00-09-004,048-00-09-005 Document No: 4298-470 Sale History: Sold for$6,250,000($20.65/SF)on 03/01/2010 Sold on 02/04/2009 ° :lrailsaotlon Notes:: The listing broker verified the sale of the 302,668 SF building for$6.25 million. The buyer will invest$45 million in renovations and equipment. The amounts allotted were not available. The company will hire 250 employees. It was reported the state provided incentives,the amount was not disclosed. The buyer will relocate their Detroit facility. The plant will be in production by the end.of 2010. The seller sold the facility because it was no longer needed. The decision to stop production was made in 2005. The plant was delivered vacant. —,'Current Industrial Information ID;1186105. Bldg Type: Manufacturing RBA: 302,668 SF Bldg Status: Built in 1997 %Leased: 100.0% Rent/SF/Yr: - Stories: 1 Bldg Vacant: 0 SF Total Avail: 0 SF Building FAR: 0.14 Warehouse Avail: 0 SF Office Avail: 0 SF CAM - Max Contig: - Zoning: LD&RUD Smallest Space: - Owner Type: Corporate Land Area: 2,178,000 SF Owner Occupied: Yes Lot Dimensions: - Tenancy: Single Ceiling Height: 22'2"-26'6" Column Spacing: - Loading Docks: 6 ext(bldg.total) Levelators: 6 ext Cross Docks: - Crane: - Drive Ins: 5/12'0"w x 14'0"h(total) Const Type: Metal Sprinklers: - Rail Spots: - Rail Line: None Property Mix: Industrial 284,476 SF (94.0%) Office 18,192 SF (6.0%) Power: 4000a/277-480v 3p 4w Parking: 214 Surface Spaces are available; Ratio of 0.71/1,000 SF Location Information Park Name: Sage Mill Industrial Metro Market: Augusta/Richmond County Submarket: Outlying Aiken County/Outlying Aiken County County: Aiken CBSA: Augusta-Richmond County,GA-SC DMA: Augusta,GA-SC This wpyrigned report contans research licensee to DuCtarme,McMillen&Associates,Inc.-100205. 5/25/2011 �A Page 8 ;:; _1• 1D84�(• 'c"atio,'ar '`SO 'D.n. �- L i4 1 K ,i, S. 'A,Man •BWfd BUiit:ttwi9 toti Parcel Number: 048-00-09-001,048-00-09-003,048-00-09-004,048-00-09-005 Legal Description: - County: Aiken YJ4♦• :91:5. 'C^l• M:.a'......!�}• i s - ': tterr! Jai' .-VW ET jj PART A AO cruirr ;k+rN I ‘ slim=fa E j ++dawn F •.4.! W(,4`-.t�.. .. Ii,I4 Xy i p I .:•�1,Ails. Cf�•, 6.a }}��- J .; ens .r�. s r'. •« iiii i , `.i ei;ury:s. • jagif.P.i a tn7 r ' ,-1,17.r la!x ;aAr rrp r s i :rms.,�s 4.ir.. :i.i.4 '. k..nT�Sa-.r "•-' y� +�. '1 a�"?• :R.r s 4+r.f . r .wW!4.. " - nrrr•.•4n•v!II• sa — 1�a s• ' `t i� 1 iii � book, . +. •rf ^�. ..-iii ii ' +!'i T• P fi �.N I 1'Littlf • , • .410 11 i I .' =aces C.'t ,ti k 1 c .•' 1 it!. 11 iitRil l . . • :.` x j r1Wrrr • 4 iIf i' R i 41i.W.a3'sr 1} 1 u • It'I AifrR ,'I L . R 1 . . .: . ...- : . • " • .' • .• . : XVTAC0020. ) t . I .i N 'il 1 . bilf I i ... N, I ' tM ! Wt(it . ' _ .. .!lei i . i ,1 Ai�Jlf l � e j, . yy�t�y u cy� '1... fi • ;i�la• 7i''' i fish r1N1 t J $. amug :'# . I . rrl i yA Brdi:ds' ," .� • "‘..,_44:1,„,L:_ n �' f i mow` ''•'4841 41.•1; _ ...-. ."... r4rtf. 4.Tli I •:�y n tf �.Y + v.is t __1 1 '. .. • i. .. . i rIllli, x...r:..... ' w.M -.._ - j sf1+1 • ... ..4 ifi•. 4 a r.]'.'- ' Rig ACARtoP ROAP (S,t'l41) i l F:. .'m.?r k'+'S ' 1 I gay •:YUi I i 'DMa This oopyticpted report contahs research licensed to OuClam e,McMillen a Assodatss,Inc.-1002115. 5/25/2011 `� Page 9 aI At— (aworth b ry rit a �y , ae, r# ^ , y, SOLD: 4 s X 16oioy t y k 3. 3' °�,�/,.rarl d aYu �`' 1 >14:417:.7:114.1.- .41'; -aakeiV) 0120 ftIV9Ei}D4 .Z�7S. aR;h ompi9tE &"- t f F i r 4 ct,3S c u pau q 3 } Li-At � 3b4 SFCIa4J4anufa#Singt ding 01 bj 199 'A 4 _ •F y . 631i t +b[ylp ��, slw'tSK* � °Hargett F. CR-606 �crt. 550 yds Microsoft' �yry 1 Virtual Earth" tl;1z.r. ;7, S�IIei,Confactlnfo Recorded Buyer: Jonesboro Facility Owner LLC Recorded Seller: Haworth,Inc. True Buyer: Nice-Pak Products,Inc. True Seller: Haworth,Inc. Robert Julius John Mooney 1 Nicepak Rd 1 Haworth Ctr Mooresville, IN 46158 Holland,MI 49423 (317)831-6800 (616)393-3000 Seller Type: Corporate Buyer Broker: No Buyer Broker on Deal Listing Broker: Binswanger Holmes Davis (972)663-9494 ID;1628485):: Sale Date: 09/30/2008(1,096 days on market) Sale Type: Owner/User Escrow Length: 45 days Bldg Type: Manufacturing Sale Price: $12,800,000-Approximate Year Built/Age: Built in 1999 Age:9 Asking Price: $14,100,000 RBA: 631,304 SF Price/SF: $20.28 Land Area: 103.68 AC(4,516,301 SF) Price/SF Land Gross: $2.83 Percent Leased: 100.0% Tenancy: Single No.of Tenants: 1 Tenants at time of sale: Nice-Pak Parcel No: 15-144360-00200 This wpynghted report contans research licensed to Ducranne,McMillen&Associates,Inc.-100205 5/25/2011 �A Page 10 1 I- worth Dr ; � za • SOLD .631 304 SFpClas9'B Manilla j.CtZ Bt4duWE 9-.In 1999, coP ).;1 , ,w • • ..,P R b r q Eti „-rs '. rc r r��e �Py v - f ' • ,.. . �' hansacE;iori,Notes,.' The property is a 631,304 SF Industrial building that was sold on 9/30/08. Holmes Davis of Binswanger represented the seller.The buyer did not have a broker in the deal. The property was on the market approximately 3 years in total, 1 year with Binswanger. Escrow time was reported to be approximately 45 days. Haworth dosed the facility and therefore it became a surplus properly for them which is the reason they decided to sell it.This was an owner-user sale. Nice-Pak plans to occupy the property by the end of March 2009.They are doing some modifications to the building since it was owned previously by a furniture manufacturing plant and Nice-Pak manufactures pre-moistened wipes. This was an all cash deal. Sale price was undisclosed. We have approximated the sale price based on the marketed price and length of time on the market. 't -,. "Current Industrial Information -,t; ' ID:1387.175 Bldg Type: Manufacturing RBA: 631,304 SF Bldg Status: Built in 1999 %Leased: 100.0% Rent/SF/Yr: - Stories: - Bldg Vacant: 0 SF Total Avail: 0 SF Building FAR: 0.14 Warehouse Avail: 0 SF Office Avail: 0 SF CAM - Max Contig: - Zoning: - Smallest Space: - Owner Type: - Land Area: 4,516,301 SF Owner Occupied: Yes Lot Dimensions: - Tenancy: Single Ceiling Height: 27'0"-33'0" Column Spacing: - Loading Docks: 36 ext(bldg.total) Levelators: 36 ext Cross Docks: - Crane: 5/22'0"Hk Drive Ins: 6(total) Const Type: Masonry Sprinklers: Wet Rail Spots: Yes Rail Line: Burlington Northern Santa Fe Property Mix: Industrial 606,584 SF (96.1%) Office 24,720 SF (3.9%) Power: 1520a/277-480v 3p Utilities: Gas-Natural,Heating-Electric,Lighting-Halide,Sewer-City,Water-City Parking: 600 Surface Spaces are available; Ratio of 0.95/1,000 SF Location Information County: Craighead CBSA: Jonesboro,AR CSA: Jonesboro-Paragould,AR DMA: Jonesboro,AR-MO This copyrighted repan contain researdi licensed to DuCtsnne,McMiten&Associates,Inc.-100205. 5/25/2011 Page 11 4u, X175 Lynch Rii SOLD CoturpbusGA.3'820;�Greaffir Columbus Subma , Sold on 12107'I30�09�,for�81'50�'�$.As 841S Researc(r Cogrplete B�F'Class S ritfti-c„rg 011ding�in 1996 ,6T Wit *7 F< ?..;N,t e itsw t 3 K 1 c44 Agglig11 1.4felt Win t-7# k 4,111 550 yric ' �h Microsoft' r Virtual Earth" o' aJil if.' 5.hlaL - :L f f l,2'., Buyer 8:Seller Contact Info Recorded Buyer: Grocery Supply Acquisition Corp. Recorded Seller: Russell Brands,LLC True Buyer: Nash Finch Company True Seller: Fruit of the Loom Inc 7600 S France Ave 1 Fruit Of The Loom Dr Edina, MN 55435 Bowling Green,ICY 42103 (952)832-0534 (270)781-6400 Buyer Type: Corporate Seller Type: Corporate Buyer Broker: No Buyer Broker on Deal Listing Broker: No Listing Broker on Deal y t v""i: )y -Nf y t '`, ,.t Nv S Jt'au ,�y�.+g,Tfdfl5aC On DetAll4 .. ..wt•' . [. .,. 1, Sale Date: 12/07/2009 Sale Type: Investment Escrow Length: - Bldg Type: Manufacturing Sale Price: $8,150,000-Full Value Year Built/Age: Built in 1996 Age:13 Asking Price: - RBA: 410,866 SF Price/SF: $19.84 Land Area: 109 AC(4,748,040 SF) Price/SF Land Gross: $1.72 Percent Leased: 86.8% Tenancy: Multi Percent Improved: - Transfer Tax: $8,150 Total Value Assessed: $8,850,000 in 2008 Improved Value Assessed: - Land Value Assessed: - Land Assessed/SF: - No.of Tenants: 1 Tenants at time of sale: Aflac Financing: Down payment of$8,150,000.00(100.0%) Legal Desc: LL 100&101,9th Dist. Parcel No: 120-001-003 Document No: 9884.0084 This mpynghted report contans research licensed to DuChanne,McMiren&Associates,Inc.-10020. 5/25/2011 ``Mi Page 12 6175$arch Rd ` f .0 s N,14,A,JA Jig`` fir W.ryWs M..ifi ✓ ,r k« �,' � x, W 410866SF,CIass` Madtiftadelrq & kill, ulit1�r9996(m0'tY r,a 4. 1 �' tu,:r r 'jyf'. " K - The buyer and seller were contacted,but were unable to confirm the information in the comp. Information is based on public records and research. Media Source 1: http://www.bizjouma ls.com/twin cities/stories/2009/12/14/da i 1y54.htm I? ana=from_rss&utm_source=feedbumer&utm_medium=feed&utmcampaign=Feed%3A+bizj_twincities+%28Minneapolis+% 2F+St.+Paul+Business+Journal%29&utm_content=Goog le+Reader Media Source 2: http://www.foodlogistics.com/web/online/News/Nash-Fi nch-Acq wires-Distrib ution-Center-I n-Georgia-For-Mil ita ry-Business-/8$3331 Expenses -Taxes $129,599 -Operating Expenses Total Expenses '+ Curferitlidusfiaflditzrtnatlon >s D I 20S Bldg Type: Manufacturing RBA: 410,866 SF Bldg Status: Built in 1996 %Leased: 100.0% Rent/SF/Yr: - Stories: 2 Bldg Vacant: 0 SF Total Avail: 0 SF Building FAR: 0.09 Warehouse Avail: 0 SF Office Avail: 0 SF CAM - Max Contig: - Zoning: - Smallest Space: - Owner Type: Corporate Land Area: 4,748,040 SF Owner Occupied: No Lot Dimensions: - Tenancy: Multi Ceiling Height: 25'0"-40'0" Column Spacing: 40'w x 43'd Loading Docks: 30 ext(bldg.total) Levelators: 30 ext Cross Docks: - Crane: None Drive Ins: 218'0"w x 10th(total) Const Type: Masonry Sprinklers: ESFR Rail Spots: Yes Rail Line: Norfolk Southern Expenses: 2009 Tax @$0.32/sf Power: 3000a/277-480v Utilities: Gas-Natural,Heating-Gas,Sewer-City,Water-City Parking: 186 free Surface Spaces are available; Ratio of 2.30/1,000 SF Features: A/C,Air Lines,Fenced Lot,Floor Drains Location Information Metro Market: Columbus GA Submarket: Greater Columbus/Greater Columbus County: Muscogee CBSA: Columbus,GA-AL CSA: Columbus-Auburn-Opelika,GA-AL DMA: Columbus,GA-AL _ This copyrighted report contans research licensed to Ductarme,McMilen&Associates,Inc.-100205. 5/25/2011 `P7� - Page 13 Hello