Ah Realty Trust, Inc. · NYSE:AHRT
Ah Realty Trust — Armada Hoffler Properties — Investor Presentation (September 2013)
36 slides from Ah Realty Trust's investor presentation, Sep 24, 2013
Slide 1: Virginia, Hampton Roads and Virginia Beach
Presented to Armada Hoffler Investors Exhibit 99.2 VIRGINIA, HAMPTON ROADS AND VIRGINIA BEACH
Slide 2: Introduction
Introduction As you know, a majority of Armada Hoffler’s portfolio is located in Virginia The crown jewel of its portfolio is The Town Center of Virginia Beach Which is located in the Hampton Roads Metropolitan Statistical Area (MSA) In order to understand the underlying strength of its portfolio, I
Slide 3: Virginia's Location
Virginia’s Location 40 percent of the nation’s population within a day’s drive Integrated transportation system of highways, railroads, airports and seaports Proximity to Washington DC and federal policy makers and government system
Slide 4: Virginia is Best for Business
Virginia is Best for Business State of Virginia Accolades: (Pollina Real Estate (CNBC, 2011) Number One for Pro-Business Climate, Inc, 2011) America’s Top State for Business, Forbes.com: Virginia is One of the Best States for Business Top Performing State Government for planning and management of mo
Slide 5: Why Virginia?
Why Virginia? Low Business Costs High Quality of the Workforce Reasonable Cost of Living Business Friendly Northernmost Right-to-Work State Impressive Economic Growth
Slide 6: Virginia: Business First
Virginia: Business First AAA Bond rating maintained since 1938, longer than any other state Corporate income tax of 6% not increased since 1972 Streamlined permitting process Recruitment training programs help businesses become operational faster
Slide 7: Robust State Economy
Robust State Economy Birthplace of the Internet Leading center of software development One of only four states capable of launching communications and other commercial satellites into space Biomedical and telemedicine burgeoning industries
Slide 8: Robust State Economy
Robust State Economy More than 17,000 high-tech establishments Ranks 3rd as recipient of federal R&D funds In top 10 of states for knowledge-based, globalized, IT-driven, entrepreneurial, innovation- based economy (“ 2012 State New Economy Index ” by Information Technology and Innovation Foundation
Slide 9: Visiting Virginia
Visiting Virginia Tourism generates $21.2 billion in revenue, supports 210,000 jobs and provides $1.36 billion in state and local taxes 200 Wineries named One of 10 Best Wine Travel Destinations of 2012 (Wine Enthusiast) History includes Jamestown- the First English Settlement, Colonial Williamsburg
Slide 10: State of Virginia Map
State of Virginia Map 4 Major MSAs in Virginia in order of size: 1. Northern Virginia 2. Hampton Roads 3. Richmond Metro 4. Roanoke Valley
Slide 11: Hampton Roads Map
Hampton Roads Map MSA Population = 1.7 million DMA Population = 2.1 million Comprising: Virginia Beach Norfolk Chesapeake Portsmouth Suffolk Hampton Newport News Poquoson Williamsburg Smithfield York County James City County Isle of Wight County
Slide 12: Hampton Roads' Location
Hampton Roads’ Location Southeastern seaboard of Virginia Home of world’s largest natural deepwater harbor largest MSA in the country Ten cities and five counties Washington DC is 200 miles north Virginia’s second largest MSA, and the State’s first, second and third largest cities by population rd
Slide 13: Hampton Roads' Transportation
Hampton Roads’ Transportation Two airports: Norfolk International Airport and Newport News/Williamsburg have over 250 direct flights daily Interstate 64 encircles the MSA Chesapeake Bay Bridge Tunnel saves 90 miles traveling to New York/New Jersey Three crossings between Peninsula and Southside: Mon
Slide 14: Hampton Roads' Transportation
Light Rail Operating from Downtown Norfolk to Virginia Beach; to be Extended to Town Center and Convention Center/Resort Oceanfront Amtrak Service Now to Norfolk High Speed Rail Expected Hampton Roads’ Transportation
Slide 15: Hampton Roads' Economy
Hampton Roads’ Economy Best Performing Metro Economy in the Nation During the Recession , Civilian labor force almost 800,000 Large military and government contractors brings skilled pool of potential workers that few other MSAs enjoy nd Brookings Institution
Slide 16: Hampton Roads' Industries
Hampton Roads’ Industries Known for its ports and maritime- related industries: warehousing, distribution and logistics operations Defense-related industries Modeling and simulation Aerospace and aviation Shipbuilding, nuclear powered submarines and aircraft carriers Management (headquarters) operat
Slide 17: Virginia Ports Advantages
Virginia Ports Advantages Only East Coast port with 50’ deep and unobstructed sea lanes and channels Already servicing larger “Post-Panamax” vessels expected to increase in number as Panama Canal expansion is completed Restructuring the Port of Virginia operations to improve efficiencies, customer s
Slide 18: Hampton Roads' Employers
Hampton Roads’ Employers Huntington Ingalls Industries – Newport News Shipbuilding: 22,000+ employees Sentara Healthcare: 10,000+ employees Smithfield Packing Company and Gwaltney of Smithfield, Ltd. Meat processing and packing Stihl, Inc. power tools Norfolk Southern Corporation (railway transporta
Slide 19: International Focus
International Focus Favored location for international companies, 160 firms from 27 countries From Switzerland, Germany, Japan, UK, Sweden, the Netherlands, Canada, France and many others
Slide 20: Hampton Roads' Culture
Hampton Roads’ Culture Chrysler Museum of Art Virginia Symphony Virginia Arts Festival Chrysler Hall Virginia Opera Virginia Stage Company Museum of Contemporary Art (MOCA) The Sandler Center for the Performing Arts Hampton Coliseum Norfolk Scope Virginia Living Museum Nauticus National Maritime Cen
Slide 21: Hampton Roads' Retailers
Hampton Roads’ Retailers Nordstrom Brooks Brothers Ann Taylor Williams Sonoma Urban Outfitters Talbots Coach J.Crew Pottery Barn Whole Foods Trader Joe’s Macy’s Dillard’s Chico’s Apple
Slide 22: The City of Virginia Beach
The City of Virginia Beach Most populous city in the United States with 438,000 residents Larger than Charlotte, Richmond, Austin, Salt Lake City, Milwaukee, Nashville and Indianapolis Encompasses 307 square miles 59 miles of waterfronts 100 miles of bikeways 2012 Tourism revenue $1.28 Billion Touri
Slide 23: Virginia's Future: Offshore Wind
Virginia’s Future: Offshore Wind Virginia is one of only two sites on the Atlantic coast selected by the US government for commercial development of offshore wind power 23 Nautical miles out to sea lies coveted 113,000 acres where 1 utility-scale offshore wind farm may be operational in the next dec
Slide 24: Offshore Natural Gas Resources
Offshore Natural Gas Resources VA could generate $250 - $500 million in savings on natural gas over 30 years American Petroleum Institute estimates: leasing, drilling and development activity off VA’s coast could generate 16,400 jobs by 2020 $644 million over 10 years in direct/indirect payroll to V
Slide 25: Virginia Beach Accolades
Virginia Beach Accolades 2 Most Business-Friendly City in America (CNN Money.com Report, June 2013) One of America’s Hardest-Working Cities (Forbes, August 2013) One of America’s 50 Best Cities (Bloomberg Businessweek, September 2012) #2 Best City in U.S. for Raising a Family (Wall Street Journal, J
Slide 26: Virginia Beach's Employers
SAIC – defense contractor STIHL, Inc. – manufacturer of power driven tools GEICO – insurance Christian Broadcasting Network Sentara Medical Group Amerigroup/Wellpoint The economy has grown at an extraordinary average of 100 new businesses per month Virginia Beach’s Employers
Slide 27: The Center of Everything
The Center of Everything The Town Center of Virginia Beach is 10 Miles from Downtown Norfolk 7.5 Miles from the Chesapeake Bay 10 Miles from the Virginia Beach Oceanfront Resort Area
Slide 28: Virginia Beach Map
Virginia Beach Map Bounded on South by North Carolina state line On East by Atlantic Ocean On North by Chesapeake Bay Interstate 264 Runs East-West from Oceanfront Resort Area to Downtown Norfolk
Slide 29: Virginia Beach's CBD
Virginia Beach’s CBD Anchored by The Town Center of Virginia Beach, comprising 17 city blocks
Slide 30: The Center of Everything
The Center of Everything Crossroads of the highest volume roadways headed "east/west" and "north/south“ The largest commercial concentration with the lowest vacancy rates in Hampton Roads The tallest buildings in Virginia, creating a landmark location with largest allocation of expansion capability
Slide 31: At the Beginning
At the Beginning
Slide 32: Town Center at Full Build-Out
Town Center at Full Build-Out
Slide 33: Town Center Demographics
DEMOGRAPHICS 3 MILES 5 MILES 7 MILES Town Center Demographics Total Population (2012) 127,449 287,068 444,563 # of Households 49,753 107,949 166,444 HHs w Incomes $75K+ 15,169 35,363 55,432 Median Age 35.1 34.7 34.6
Slide 34: True Income Levels
True Income Levels Income figures are under-reported due to the young age and number of retirees in the region who receive retirement pay while starting second careers around age 40 The U.S. Bureau of Economic Analysis (BEA) reports Total Personal Income (TPI) which goes beyond just income from one
Slide 35: Conclusion
Conclusion Armada Hoffler’s strategic position as the preeminent developer and property owner headquartered in Virginia Beach will enable it to take advantage of the strong economic foundations of Virginia; the stable and growing, diversified economy in Hampton Roads with its young, fit and economic
Slide 36: The New Virginia Beach
The New Virginia Beach
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