A Return on Your Investment in Historic Defoor Centre PART ... · room can be configured to meet...
Transcript of A Return on Your Investment in Historic Defoor Centre PART ... · room can be configured to meet...
A Return on Your Investment in Historic Defoor Centre
(Overview of Defoor Centre p.2)
PART I: Current Revenue Streams I. Hosting social and corporate events p. 3 - 6
Venues: The Forum, The Encore Gallery & Rhombus Room
The Defoor Café & Bar, The Gatsby Room, Conference Room
The Kids' Lounge, The Classroom
II. Food and Beverages: In-house catering p. 5 - 7 Liquor License and fully equipped kitchen
DefoorDelivers.com - neighborhood delivery
Other hospitality-related assets
International Outside Catering Program
Assets for all-purpose use p. 7 III. Five office suites with recurring rent p. 8
IV. Campus Sales Reps on nearby campuses p. 9
V. Streaming Events p. 9
Appendix:
Square Foot Analysis p. 10
Copy of approved blueprint p. 11
PART II: Revenue Snapshot Revenue Snapshot p. 1
Building Enhancements p. 2 - 3
Skyline Lounge (Attic of original house) p. 4
Bronze Historical Marker on Defoor Avenue p. 4
PART III: History of Defoor Centre Meet Wilbur Kurtz, Atlanta historian p. 1
The Battle of Peachtree Creek p. 2
Defoor Centre historian, Hoyt Kimball: p. 2
Property title history p. 3 - 4
Kimball's conclusions about the "Ragsdale House" p. 5 - 6
Page 1
OVERVIEW:
< 1962 photograph of the
Original Ragsdale House, witness to the Battle of
Peachtree Creek in July, 1864.
Location: Located off of Chattahoochee Ave., 1/2 mile west of the Howell Mill Road/Chattahoochee
Avenue Intersection.
Available Square Feet: Approximately 26,336 +/- SF
Acreage: 1.2625 Acres
Parking spaces: 70 (see pg. 5)
Details: Currently configured as an event facility - Defoor CentrePotential Uses:
Event Facility
Commissary
Restaurant(s)
Loft Office ConversionZoning: I-1
Office Area: 15,836 SF 2004 Appraised Value: $2,360,000
Tax ID: 17-0187-0005-039 2006 Estimated @ 3,250,000 $125/SF
Census Tract: 89 Appraisor: Clay Weibel, MAI
Street Frontage: 2018 Estimated @ $160/SF or $4.2 million
Defoor Ave. 141.96'
Taylor St. 247.71'Defoor Cir. 149.82'
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PART I: Current Revenue StreamsI. Hosting Social and Corporate Events
Venues: The Forum The 5,500 square foot Forum at Defoor offers one of
Atlanta’s most unique and creative event venues.
The gallery boasts soaring 30′ ceilings and original
works of art adorning the walls of the hexagon-
shaped gallery. The Forum can accommodate 300+
theater style, 250+ guests for a seated dinner
function with a dance floor and 300 guests with no
dance floor and 400 for a cocktail reception.
The gallery includes a stage area with stair access
from the gallery floor or a backstage door- perfect
for a band, presenter or live performance. Built by
The Forum The Gospel Harvester Church in 1976, the room has
perfect acoustics. The Forum at Defoor is the ideal
space for weddings and receptions, corporate
parties, holiday gatherings, group meetings,
product launches, art shows and bar/bat
mitzvahs, and quinceanos.
The Encore Gallery and The Rhombus Room
This layout shows how everything fits
together for expanded or smaller events.
The Encore! Gallery is located in the portion of the facility that once hosted eleven antiquarian book dealers.
The 1,900 square foot space has a more industrial feel, with a corrugated metal roof and exposed
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Encore cont.
beams in the 30′ high ceiling. In addition to several strategically placed skylights, the large picture
window lends lots of natural light for daytime events. As the sun moves across the sky, the lighting
constantly changes. For evening events, lanterns in different sizes and shapes fill the space with a fun
and funky glow. The gallery can accommodate 150 seated and 200 cocktail style. The Encore!
Gallery has hosted wedding ceremonies, receptions, showers, sweet 16 parties, mitzvahs,
holiday parties, book signings and meetings. Paired with the adjacent Bar and / or Rhombus Room,
the gallery can accommodate 300 guests cocktail style.
The Defoor Café and Gallery
The Defoor Café and Bar is open for special events and will be opening soon to the public.
The café’s menu includes lunch, snacks and appetizers as well as a variety of comfort foods,
created by our in-house chef. The café also has an extensive array of coffees and homemade desserts.
Our fully stocked bar offers an excellent selection of import and domestic beers, top-rated wines and liquors.
For Atlanta's International Communities, we offer a multitude of International catering choices.
Granite Bar. Security-camera system.
The Gatsby Room The Board Room
The Gatsby Room is a semi-private 1368 square-foot meeting/event/gallery space with a lofty warehouse feel. The
room can be configured to meet your group's specific needs including theater style for up to 120 guests and classroom
seating for 50 guests. In addition, the Gatsby Room can accommodate up to eight 60″rounds With easy access to the
Cafe and Bar, the Gatsby Room is perfect for civic and social organizations and clubs needing multi-functional space
for meeting and socializing. 100 (with furniture) to 150 guests (without furniture) can utilize the room for a cocktail function.
The boardroom can accommodate 12 meeting participants in a private setting with a large window overlooking
the Defoor lobby.
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< Promotional
Post Card
used in mailings.
Kids' Lounge, equipped for Sunday School, playroom for adult events, etc.
Classroom
II. Food and Beverages
HOSPITALITY EQUIPMENT:
Café and bar are equipped with café tables and chairs for four and high-toppers with stools.
Chairs : 150+ banquet and 150+ Chiavari chairs
Tables – round, rectangular, high-toppers with chairsPage 5
Hospitality-related Assets
• Liquor Licenses - GA and Atlanta >
• Venue rental traffic for 11 years
• Ethernet cabling in all venues, linked to server room,
enabling video streaming
• Website www.DefoorCentre.com since 2002
• Licensed commercial kitchen equipped with
walk-in cooler and freezer ^ Georgia 2019 license
Café Counter
International Preferred Catering ProgramDefoor Centre has cross-promotion contracts with these restauranteurs:
Australian Australian Bakery Café Malaysian Malaya Restaurant
Brazilian Brazilian Bakery Mediterranean Mediterranean Grill
Chinese Oriental Pearl Restaurant Mexican Nuevo Laredo Cantina
Yi Fan Cooking School Persian Persepolis
Cuban & Caribbean PaPi’s Cuban & Caribbean Grill Rumi's Kitchen
Ethiopian Desta Ethiopian Cuisine South Arepa Mia
Indian Café Bombay Atlanta
53Catering.com Traditional European/American
Japanese Nakato Restaurant Epic Events Catering Soiree Catering & Events
Korean Stone Bowl House Endive Fine Catering Southern Routes Catering
Kosher Julie’s Kosher Catering Jerry Dilts & Associates
The Kosher Gourmet
Essential part of Show Biz:
Kitchen LED 4/C Message Center
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Linens and flatware
Many table centerpieces, banquet chafing dishes, serving utensils
Dishroom equipped with commercial dishwasher, icemaker
Dishes, glassware and flatware
Chiavari chairs ^
Linens – 120” round, black, white
and cream-colored
Cooking utensils
Eight uplights for special lighting for events
Already in existence, an opportunity for a drive-through entrance and exit for food pickup.
Enviable adjacent neighborhoods with excellent demographics for take-out food.
Ethernet throughout building enabling streaming events over Internet in all venues.
Two steam irons
Other assets for all-purpose usage:
A closer look at Chiavari chairs
<25-foot high stand-alone marquee double-sided sign with
computer-controlled messages.
Artist rendering of sign design matching the current logo.
Stands at corner of Defoor Avenue and Taylor Street.
Plus: Alarm system
Coat closet
Two loading docks. 4 display
Two uninstalled skylights cases
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Five office suites with monthly recurring rents:Just one inclusive price for lease, utilities, common area maintenance, etc.
Suite 100: 1,056 SF with private outside entrance, private bath. $2,459
Skyline Suite (3rd floor): 1,290 SF with private bath and stunning view $3,004
of Atlanta’s skyline from the Westside. Skyline Suite
Suite 300: Westside Mezzanine, 4-room office suite, 725 SF $1,995
Suite 400: Eastside Mezzanine, 3-room office suite, 990 SF. $2,305
Crooked Road Studio: not built out, 1908 SF. @ $12 or $1,908 $1,908
monthly: $11,671
annual: 140,052
Interior Suite 100 Storage areas throughout the building.
Churches are welcome. Rent only the space required for Saturday or Sunday services.
6- or 12- month terms. $690/Saturday & Sunday mornings. $1,380/week
$1,380 X 52 weeks = $71,760 211,812
Total annual
Exterior Suite 100
70 Parking Spaces
Birdseye view of Defoor Centre
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IV. Campus Sales Reps on nearby campuses (Up to 10 active reps)
Clark Atlanta University
Georgia State University
Georgia Tech
Interdenominational Theological Center
Morehouse College
Morehouse College of Medicine
Oglethorpe Univ.
Savannah College of Art & Design (SCAD)
Spelman College
Compensation Plan:Expense money ($50/campus rep)
Average event 2014 = $3,377
10% commission of room rental fee paid at signing
1% of event total paid after event is over
$100 bonus for wedding
CONNECTING IN REAL TIME . . . . Over the Internet!Live-streaming events from all Defoor Centre venues.
Defoor Centre can video and stream an event over the Internet live to any place in the world.
Family and friends who cannot attend a special family event, can attend wherever in the
world they are, using a digital device -- an ordinary cellphone, a smart TV, a tablet or a laptop.
It is called “live streaming.” Defoor Centre can store the video on www.DefoorCentre.com
for “on demand” viewing for as long as it is needed, and/or send the memorable video home
on a memory card.
Occasions for streaming:
1. All family events held at Defoor – for family and friends who cannot be there: weddings, reunions, vow renewals and baby showers, birthday parties, bar/bat mitzvahs and Quinceros.
2. All performances – music, dance, poetry readings – have a built-in audience in another part of the world, accessible by the Internet.
4. Corporate celebrations include job promotions, annual meetings, offsite retreats, seminars.
6. Fundraisers. There are many ways to bring invited guests into an event who cannot attend. Prize drawings and silent auctions are just two of them.
7. Music and dance recitals can ensure that all family members can be there if not in person, from anywhere in the world.
8. Theater dress rehearsals can be photographed and sent to a donor or off-site producer or critic for last-minute adjustments.
9. Art shows are perfect for streaming. A known critic can speak on an artist’s work, even inteerviewing that artist if present. It can be streamed live across the Internet to interested parties anywhere.
Full Service Webcast Package: $899 Premier Webcast Package: $1,349
1 producer, 2 cameras All the features of the Full Service package PLUS:
1 hour of live video streaming 1 producer, 1 videographer, 2 cameras
Unlimited viewers 2 hours total live video streaming
Ga.Tech
SCAD
Defoor Centre
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APPENDIX: SQUARE-FOOT ANALYSIS
26,336 total square feet
DeFoor Centre
Current Use
Sq. Ft. by Function
Venues: (rental per event) Sq. Ft.
Forum 5500
Gatsby 1450 Summary of use: Sq. Ft. % of Total
Encore 1857 Venues 13,808 55.80%
Rhombus 1224 Café & Bar 4,198 16.96%
Lilac Room (bride's room) 432 Office Rental 4,133 16.70%
Lanza Room 933 DFC private use 282 1.14%
Conference Rm. 504 Common Areas 2,325 9.40%
Crooked Road (not built out) 1908 24,746 100.00%
cloak room 152 (structural 865 SF)
Total Venue SF 13,808 Usable Space: 24,746 SF
Café and Bar: Sq. Ft. Potential Annual RevenueCafé 1985 Office Rental: Sq. Ft. @$20/SF
Dish room 725 Chattahoochee Rm. 1056 $27,396
kitchen/"den" 990 Third Floor 1290 33,468
dry storage 160 Mezzanine 990 25,680
Executive Chef office 230 2nd floor closet 72 1,800
between Forum & café 108 Minister's Office 725 18,804
walk-in cooler 30 Office rental SF 4,133 $107,148
Total Café 4,198
Churches:
DFC private use: Sq. Ft. Sat./Sun. am church services in Forum
DFC Office 130 $690/Saturday $35,880
server room 152 690/Sunday 35,880
Total DFC use 282 71,760
Total Annual Recurring Rent 178,908 Income
Common Areas: Sq. Ft. Per month: $14,909
lobby 1156
main bathrooms 791
Rhombus bathrooms 126 Overhead Expenses for entire building
stairwells (2) 252 Repairs & Maintenance $17,998
Total CAM SF 2,325 Taxes 32,783
CAM per SF $14,601 Insurance 22,773
Janitorial 26,000
$155,299 expenses / 24,746 SF = $6.28/SF Licenses & permits 7,264
CAM Expenses @ 2,325 SF Utilities 73,743
taxes $32,783 TeleComm. Costs 9,341 Annual
insurance 22,773 Total 189,902 Expenses
utilities 73,743 per month $15,825
janitorial 26,000 per sq.ft. $7.21
Total annual expenses 155,299 CAM/annual $14,601 (2,325 SF)
$6.28 x 2,325 = annual CAM $14,601
$0.52/mo/SF per mo. $1,217
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Copy of blueprint approved by Atlanta City Hall on April 7, 2004
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