EXECUTIVE SUMMARY

On behalf of the Ownership, Jones Lang LaSalle America, Inc. (“JLL”) has been retained as the exclusive sales representative for 4600-4680 Lewis Road (the “Property” or “Properties”) in Stone Mountain, Georgia – an NNN leased two-building, 220,380 square foot bulk warehousing and manufacturing facility located within one of the Atlanta MSA's lowest vacancy submarkets, I-20 East. 

The Property is 100% leased by New WinCup Holdings, Inc. (Wincup), a leading manufacturer of disposable cups, containers, and straws with more than 60 years in business. The company uses the Properties as its national Headquarters, with 7 other manufacturing operations across the U.S. The two contiguous Properties represent a highly embedded and mission-critical operation, as WinCup is heavily invested in the buildout of the property.

The Properties are located just 0.5 miles south of U.S. 78, a limited access highway, and 3.5 miles from I-285, two of Atlanta’s major logistical thoroughfares. This exceptional location and connectivity provide rapid access to Atlanta’s other major Interstates, including I-85, I-75, I-20, and I-675. 

PROPERTY SPECS

INVESTMENT HIGHLIGHTS

Highly Strategic Location

•    The Properties are close in and enjoy quick access to U.S. Route 78 (0.5 miles) and I-285 (3.5 miles). 
     »    The location provides direct access to the Atlanta highway system (such as I-85, 
I-75, I-20, and I-675), which allows tenants to quickly access the greater Atlanta area, heavily trafficked freight routes, and the Port of Savannah.
•    The Property’s location provides rapid access to serve dense population centers with convenient access to over 5.8 million people within a 60-minute drive and 80% of the U.S. population within a two-day drive
•    This exceptional location increases access to a dense selection of employees, in turn leading to longer-term tenancy

Strong Atlanta Market Fundamentals

•    Q2 2023 average rental rates exceeded $6.25 PSF for the first time in Atlanta’s history, with strong rent growth projected through the end of 2023
•    Over the past decade, nearly 181 MSF has been delivered while absorption outpaced deliveries in 7 of those 10 years
•    Year-to-date deliveries reached 13.9 MSF through H1 2023, the highest point on record at the mid-year mark

Top Performing Submarket

•    Q2 2023 average rental rates exceeded $6.25 PSF for the first time in Atlanta’s history, with strong rent growth projected through the end of 2023
•    Over the past decade, nearly 181 MSF has been delivered while absorption outpaced deliveries in 7 of those 10 years
•    Year-to-date deliveries reached 13.9 MSF through H1 2023, the highest point on record at the mid-year mark

Committed Tenancy

•    WinCup has occupied these buildings for roughly 50 years and has a long-standing relationship with the Properties
•    One of 8 critical manufacturing operations across the country. Other locations include Jacksonville, FL, Higginsville, MO, Metuchen, NJ, Mount Sterling, OH, Saginaw, TX, Tolleson, AZ, and West Chicago, IL. The Stone Mountain location is the company's national headquarters.
     »    The Properties represent the 2nd largest of the 8 manufacturing facilities in terms of SF
     »    Of Wincup's 960 employees nationally, 240 (25%) are based in the Stone Mountain, GA location
•    WinCup is heavily invested in the buildout of the building for their manufacturing operation, making them sticky to the location long term
     »    Notable investments include significant heavy machinery involved with production, silos, cooling towers, air compressors, metal conduits, boilers, air receivers/dryers, and mezzanine office space
     »    Recent 10 year lease extension in exchange for new roof over manufacturing operation (48% of RBA)             

CONTACT