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AirTran Airways
5230 Clipper Drive, Atlanta, GA 30349
Last Verified 11/3/2009
Listing ID 16397690
Highlights
Excellent Long Term Investment with Growing and Stable Company- 26-Year Double Net Lease with Limited Landlord Responsibility
- Rental Increases Throughout The Term Provide Increasing Cash Flow
- Build-To-Suit Facility in a Beautiful Office Park Location
- Strong Projected Increasing Returns For Investor
- Quality Tilt-Up Modern Construction With Advanced Design & Engineering
Description
This new office building will be ready for occupancy in January, 2009 and a Double Net 26-year lease will commence at that time. Nine percent increases take effect every four years, so good continuing upside exists for the investor. The land is owned by the Atlanta-Hartsfield Airport Authority and they have provided a 36-year ground lease to the development of the facility. The tenant is responsible for the land rental payments as part of their expense responsibilities under the lease.
AirTran Airways burst onto the air travel scene in 1994 and has found a clear niche providing low-cost air travel and offers over 750 flights daily with hubs in Atlanta and Orlando.
This beautiful new 50,000 square foot build-to-suit training facility is located adjacent to the busiest airport in the world, Atlanta's Hartsfield International. AirTran Airways has selected this site and designed the building to serve as a new training operation. AirTran has Hartsfield as a key hub for the airline and looks to expand with the airport into the future. Built with a contemporary design, this single story building has parking surrounding the entire structure providing easy access for the staff, employees and visitors. Immediate freeway access is a key feature of the location as is the proximity to Hartsfield for Airtran personnel. Primarily consisting of office/classroom space it will be utilized as a flight attendant training center. This area is becoming a center of airline activity with a major Delta facility nearby and a Boeing/Alteon flight simulator facility in the park and directly across the street.
Actual
$738,000
Map of 5230 Clipper Drive, Atlanta, GA 30349 (Fulton County)
Created 9/17/2009
The information above has been obtained from sources believed reliable. While we do not doubt its accuracy we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions, or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial, and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.