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CONFIDENTIAL OFFERING MEMORANDUM New Britain Corporate Center Chalfont, PA Ground Sites For Sale or Build to Suit OFFERING MEMORANDUM
CONFIDENTIAL OFFERING MEMORANDUM
New Britain Corporate Center Chalfont, PA
Ground Sites For Sale or Build to Suit
OFFER
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Exclusively Marketed by:
CONTENTS
We obtained the following information above from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation about it. It is submitted subject to the possibility of errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice. We include projections, opinions, assumptions or estimates for example only, and they may not represent the current or future performance of the property. You and your tax and legal advisors should conduct your own investigation of the property and transaction.
01 Executive Summary 03 Permitted Uses
Property Summary 5 Zoning Information 16
02 Opportunity 04 Area Information
Opportunity 7 New Britain, PA 20
Property Highlights 8 Neighboring Amenities 21
Regional Map 9 Bucks County, PA 22
Parcel & Site Map 10 Market Demographics 23
Options 11 05 Contact
Site Plan 12 Contact Information 25
Property Images 13
New Britain Corporate Center
Michael Borski, Jr. Ryan Pensabene Brian Glancey, SIOR
215-561-6565 x119 215-561-6565 x116 215-561-6565 x191
CONFIDENTIALITY AND DISCLAIMER:
The information contained in the following offering memorandum is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from The Flynn Company and it should not be made available to any other person or entity without the written consent of The Flynn Company. By taking possession of and reviewing the information contained herein the recipient agrees to hold and treat all such information in the strictest confidence. The recipient further agrees that recipient will not photocopy or duplicate any part of the offering memorandum. If you have no interest in the subject property, please promptly return this offering memorandum to The Flynn Company. This offering memorandum has been prepared to provide summary, unverified financial and physical information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. The Flynn Company has not made any investigation, and makes no warranty or representation with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence of absence of contaminating substances, PCBs or asbestos, the compliance with local, state and federal regulations, the physical condition of the improvements thereon, or financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in this offering memorandum has been obtained from sources we believe reliable; however, The Flynn Company has not verified, and will not verify, any of the information contained herein, nor has The Flynn Company conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein. Prospective buyers shall be responsible for their costs and expenses of investigating the subject property.
Confidentiality and Disclaimer | 3
THE FLYNN COMPANY Real Estate Development | Brokerage | Management
Sixteen Twenty-One Wood Street | Philadelphia, PA 19103
(215)561-6565 | Fax (215) 561-5025 | www.flynnco.com
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EXECUTIVE SUMMARY
Property Summary
Property Summary | 5
New Britain Corporate Center presents a unique opportunity unlike any across the Delaware Valley.
Positioned with existing roadways, curb cuts, sidewalks, parking lots, and all utilities run to each individual pad, this development allows for individualized buildings to be developed in an quick and streamlined fashion. Professionally designed by Bohler Engineers and developed by an affiliate of Equus Capital Advisors leaves no question to quality or detail. Children's Hospital of Philadelphia, EWeber Communications, Bohler Engineers, Reckner and Rothman Specialty Surgeons all are proud to call the New Britain Corporate Center home.
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The park boast additional uses such as Madison Apartments, Chesterbook Academy and New Seasons
at New Britain assisted living. New Britain Township is a friendly and welcoming place to grow your business and the existing zoning allows for a mix of uses including Nursey School/Day Care Center, Medical office, Motel-Hotel, Printing and Package Delivery Services. Immediately next to the campus is a large retail strip center with Starbucks, Giant, Blue Dog Tavern, and various other uses that are easy to access down a
community sidewalk. The owners are open to selling the pads to users that prefer to work with their own developers or to build-to-suit for those that are interested in a leasing scenario. New Britain Township supports the growth of the community and welcomes new businesses with open arms. Enclosed in this package is additional information
on the property, the neighborhood, demographics, roadways and zoning. It would be our pleasure to discuss the many ways that this development can be shaped to accommodate a plethora of uses.
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OPPORTUNITY
Property Overview
Regional Map
Parcel Maps
Site Overview
Property Images
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Opportunity | 7
New Britain Corporate Center (“NBCC”) site offers the only remaining C3/F7 zoned developable lots in New
Britain Township currently approved for office buildings and other similar type uses. The site also offers the
unique benefit of significant site improvements including grading and parking lots, storm water
retention/management, and curb cuts.
The new Route 202 Bypass and the recently completed widening project of Country Line Road has improved
access to New Britain Corporate Center.
Amenities are plentiful due in part to the adjacent 130,000/SF New Britain Village Shopping Center, which
contains such tenants as Starbucks, Giant Grocery Store, McDonalds, and Primo Hoagies, Nearby there is the
Montgomery Mall retail district (3 miles away), which includes numerous restaurants and retail options.
Some other notable groups/amenities in close proximity to NBCC are: Children’s Hospital of Philadelphia
(CHOP), Chesterbrook Academy pre-school, Kinder-Care Learning Center, New Seasons at New Britain Senior
Living, Philadelphia Sports Club, Wawa (planned SuperWawa underway), and CVS Pharmacy.
Some of the property highlights include:
• Approvals in place for 50,000SF, 59,600SF and 23,000SF office
buildings. Smaller opportunities can be made available.
• Lots include paved parking, curb cuts, storm water retention and
utilities to lot line.
• 5 Parking Spaces per 1,000SF
• CHOP Primary Care building at 100 Manor completed in 2018
• F7 Commercial Campus within a C-3 zoning district.
• Electric & Gas provided by PECO
• Internet fiber access available to site.
• Walking distance to restaurants, grocery, shopping, daycare, and
residential.
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Property Highlights | 8
Item Site Overview
Approved Building Sizes
300 Manor Drive ± 23,000 SF
500 Manor Drive ± 59,680 SF
1400 Manor Drive ± 50,000 SF
Parking 5/1000
Zoning C-3
Road Frontage ± 675’ on County Line Road
Electric/Gas PECO
Water/Sewer Public Service
Tax Parcels 26-005-049-013 (part of Condo campus)
26-005-049-012
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Regional Map | 9
New Britain
Corporate Center
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Parcel & Site Map | 10
1400 Manor Drive
50,000 SF
Lot 2
500 Manor Drive
59,600 SF
Lot 4 - Unit 3
300 Manor Drive
23,000 SF
Lot 4 - Unit 2B
CHOP Primary Care
Site (2018)
Lot 4 -Unit 2A
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Site Options | 11
Lot 2
• 6.68 acres approved for a ~50,000 sf office building parked at a parking ratio of 5/1,000. The property is
zoned C-3, Commercial District. (50,000/200 = 250) There are 257 parking spaces provided.
Lot 4
• Site Acreage: 28.14 acres
• Maximum Gross Building Areas: 161,200 sf
o Unit 1 (Weber): 70,970 sf
o Unit 2A (Chop): 8,891 sf
o Unit 2B (Available): ~23,000 sf (Single Story Office/Medical)
o Unit 3 (Available): ~59,600 sf (Two Story Building)
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Unit 2B Scenario:
Overview: There are 154 parking spaces in Unit 2 with
CHOP (Unit 2A) allocated 44 parking spaces (per
Agreement of Sale), leaving 105 parking spaces for the
Unit 2B. If we were to target a medical user for a max
build out of the remaining balance of the pad (22,823
sf), we would need 130 parking spaces. We would be
short 25 parking spaces (130-105=25).
Option 1: Build a ~18,000 sf medical building that
meets the parking code of 1 per 175 SF.
Option 2: Allocate 25 parking space in the Limited
Common Facility A to develop a 22,823 sf medical office
building. A reciprocal easement agreement would be
needed. Please see Note (c) in Exhibit A
Unit 3 Scenario:
Overview: Per the Declaration, we are allowed to build
up to 81,339 sf split between Unit 2B and Unit 3. Current
plans call for a 58,516 sf building on Unit 3. There are 302
parking space allocated for Unit 3 of which 28 are
located within the unit and 274 are located within the
Limited Common Facility A.
Option 1: Build a 58,516 sf Office Building at a parking
ratio of 5 per 1,000 sf (293 parking spaces). Under this
option Unit 3 could allocate up to 9 parking spaces to
Unit 2B.
Option 2: Build a ~52,850 sf Medical Building (175sf x
302 spaces). Under this scenario, Unit 2B would have to
be an Office use in order to not exceed the 40% medical
sf restriction.
Possible Site Development Options
Site Plan | 12
Existing Condition Site Pan
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Property Images | 13
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New CHOP facility – built 2018
Looking North – Lot 4 Unit 2B
Madison Apartments
Looking Southeast – Lot 4 Unit 2B
Property Images | 14
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Looking East – Lot 4 Unit 2B Pedestrian Access to New Britain Village Square
Driveway Access to New Britain Village Square Looking West – Lot 2
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PERMITTED USES
Zoning Information
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Permitted Uses | 16
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Permitted Uses | 17
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Permitted Uses | 18
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AREA INFORMATION
New Britain, PA
Neighboring Amenities
Bucks County, PA
Market Demographics
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New Britain, PA | 20
New Britain Corporate Center is located in New Britain Township, Pennsylvania and within one mile of
Chalfont Borough. New Britain Township was founded in 1723 and celebrated its 275th birthday in 1998. The Township was comprised more than 15,000 acres and included land which is now occupied by Chalfont and New Britain boroughs as well as Doylestown Township. The Township currently encompasses 14.7 square miles (9900 acres).
According to historical research conducted by Township volunteers, it is estimated that
the Lenni Lenape Indians arrived in New Britain Township as early as 1397.
The current U.S. Route 202 corridor was a main route for travelers as early as 1730. In 1778, George Washington's troops as said to have marched through the Township on their way to Monmouth, New Jersey from
their camp at Valley Forge.
One of the primary features of New Britain Township, Lake Galena, is named after events of the 1880's. In 1838, local residents living near Neshaminy Creek began digging for lead, which occurs in this area as the mineral galena.
As a result of their successful search, the "lead rush" of 1861 began. These lead mines in the heart of New Britain Township were eventually filled with concrete in the 1970's before being flooded to form Lake Galena, in the current Peace Valley Park.
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Neighboring Amenities | 21
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Bucks County, PA | 22
Bucks County is set within the picturesque Philadelphia's Countryside amidst rolling hillsides, working
farms and historical towns, the 622 square mile area of Bucks County is a particularly inviting place. The County allows visitors in search of historical or artistic treasures, charming accommodations, and eclectic shops will find that Bucks County offers it all and is conveniently located 25 miles from Philadelphia and 75 miles from New York City.
Bucks County played a significant role in the creation of the County and there is rich history around every corner. There are 156 properties and districts listed on the National Register of Historic Places in the County. Twelve
sites are further designated as National Historic Landmarks including Washington Crossing Historic Park, where George Washington crossed the Delaware River on December 25, 1776 and launched a surprise attach on Trenton, NJ with the battle changing the course of the Revolutionary War. The County became a center for the arts around the turn
of the 20th Century. Henry Chapman Mercer, one of the pioneers in American Arts and Crafts movement, established the Moravian Pottery and Tile Works in Doylestown. Artisans created decorative tiles that can be found throughout the world. Also, the Tile Works is still in operation today and acts as a living museum with artist still using the same molds and techniques developed by Mercer.
In addition to the historical sites, Bucks County has shopping for every taste at such locations as New Hope and Peddlers Village. For the family, Sesame Place in Lower Bucks is the only theme park in the United States based on the popular PBS television show Sesame Street.
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Esri Tapestry™ Segmentation – New Britain, PA Professional Pride Share: 28.2% Median Income: $127,000
Professional Pride consumers are well-educated career professionals that have prospered through the Great Recession. To maintain their upscale suburban lifestyles, these goal oriented couples work, often commuting far and working long hours.
However, their schedules are fi ne-tuned to meet the needs of their school age children. They are financially savvy; they invest wisely and benefit from interest and dividend income. So far, these established families have accumulated an average of 1.5 million dollars in net worth, and their annual household income runs at more than twice the US level. They take pride in their newer homes and spend valuable time and energy upgrading. Their homes are furnished
with the latest in home trends, including finished basements
Savvy Suburbanites Share: 27.1% Median Income: $108,700 Savvy Suburbanites residents are well educated, well read, and well capitalized. Families include empty nesters and empty nester wannabes, who still have adult children at home. Located in older neighborhoods outside the urban core, their
suburban lifestyle includes home remodeling and gardening plus the active pursuit of sports and exercise. They enjoy good food and wine, plus the amenities of the city’s cultural events.
Golden Years Share: 16.0%
Median Income: $71,000 Independent, active seniors nearing the end of their careers or already in retirement best describes Golden Years residents. This market is primarily singles living alone or empty nesters. Those still active in the labor force are employed in professional occupations; however, these consumers are actively pursuing a variety of
leisure interests—travel, sports, dining out, museums, and concerts. They are involved, focused on physical fitness, and enjoying their lives. This market is smaller, but growing, and financially secure.
The above data is provided by Esri TapestryTM Segmentation. Tapestry segmentation provides an accurate, detailed description of America’s neighborhoods—U.S. residential areas are divided into 67 distinctive segments based on their
socioeconomic and demographic composition—then further classifies the segments into LifeMode and Urbanization Groups.
Demographics | 23
Market Demographics | 23
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New Britain, PA – 5 Mile Radius
3,813
Total Business
61,614
Total Employees
$50,933
Per Capital Income
$160,532
Median Home Value
2.61
Average Household Size
$111,337
Median Household Income
$3,964,750,000
Total Consumer
Expenditures
$1,100
Median Rent
Market Demographics | 24
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CONTACT INFO
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Contact | 26
For Further Information
Please Contact:
The Flynn Company
1621 Wood Street
Philadelphia, PA 19103
(215) 561-6565
www.flynnco.com
Michael Borski, Jr. | x119
Ryan Pensabene | x116
Brian Glancey, SIOR | x191
Seller, with it’s sole and absolute discretion, reserves the right to remove the Property
from the market. Seller expressly reserves the right, in its sole and absolute discretion, to
reject any and all proposals or expressions of interest in the Property, to terminate
discussions with any party at any time or to extend the deadlines set forth in the time
schedule.
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