Southern Dairies @ Ponce City Market

Status: Majority Interest Acquired

Southern Dairies @ Ponce City Market comprises approximately 80,000 square feet of creative office space located on North Avenue in Atlanta’s Fourth Ward submarket, near Ponce City Market, the BeltLine Eastside Trail, Piedmont Park and Inman Park. Immediately surrounding the property are 13 communities with more than 2,800 Class A Multifamily units.

Listed on the National Registry of Historic Places, Southern Dairies initially functioned as a dairy distribution plant before undergoing a creative office conversion in 1998. Now, the Southern Dairies campus spans five buildings across 4.1 acres. As of December 31, 2020, Southern Dairies is 88% occupied by ten tenants with a diversified rent roll including architectural, advertising, and real estate firms.

Value-Add Strategy

Professionals at Jamestown will deploy a carefully-strategized business plan to add value to the property on behalf of investors, emblematic of the larger Jamestown Invest strategy.

Planned improvements include a rebranding and repositioning, including landscaping, new public murals, wayfinding, and updated office suites to attract best-in-class tenants. Incorporating Southern Dairies into the Ponce City Market campus will allow Jamestown to drive revenue by providing a best-in-class creative office environment and amenity package. Investors should note that an investment in Jamestown Invest does not constitute an investment in Ponce City Market.

Disclaimer: Actual results may differ from those indicated in these financial projections and in such other forward-looking statements. Further, there is no assurance that Jamestown Invest 1, LLC will be able to achieve its investment objectives or to access targeted investments like those identified.

The NPI is a quarterly, composite total return for private commercial real estate properties located in the United States. The NPI includes operating office, retail, industrial, apartment, or hotel properties accounted for on a market value basis and includes the impact of leverage employed on the properties in the index. The NPI Levered Index is illustrative of historical average annualized commercial real estate returns on a gross property level leveraged basis, and these historical returns may not be indicative of future results. Leverage adds additional risks because leverage providers generally get paid first and may have a full or partial recourse claim against a portfolio. Such real estate return data should not be used to estimate returns of Jamestown Invest investments. While Jamestown Invest 1, LLC may acquire properties that meet some of the NPI criteria, it may acquire properties that do not meet such criteria. Further, Jamestown Invest property returns may have a better or worse average annualized return performance compared to the index as each real estate investment is unique in nature, which is inherently problematic for benchmarking to the composite returns of a highly diversified index.