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68.12 Acres 

of 

COMMERCIAL LAND 

FOR SALE 

BY 

Nine Sages 

Located 

In 

Morrisville, North Carolina 

TABLE OF CONTENTS 

            Cover Sheet                                                                             Page 1

            Property Information                                                                 Page 2

            Partial Map of Area                                                                  Exhibit A

            Topographic Map                                                                     Exhibit B

            Aerial Photograph                                                                     Exhibit C

            Potential Road Improvements                                                   Exhibit D

            Water and Sewer Plan                                                              Exhibit E

            Phase I Environmental Study                                                     Exhibit

                                               Brochure PDF

DISCLAIMER NOTICE 

The written, graphic, actual, pro forma and projected information contained in this advertising brochure is presented for the express purpose of assisting a prospective buyer of lessee to visualize the Subject Property.  Anyone electing to review this brochure with the intent of becoming a buyer or lessee should do so with "let this buyer beware" prudence.  All information should be verified through independent investigation.  Nine Sages, nor any of its partners, employees, brokers of salesmen or its participation brokers and/or salesmen guarantee the contents here in to be correct.

PROPERTY INFORMATION 

Location:                    The property is situated between Aviation Parkway to the east and Airport Boulevard to the west about one mile south of I-40.  The site is located just north of the dead end of Southport Drive off of Aviation Parkway in Morrisville, North Carolina; see Exhibit A for a location map. 

Land Area:                 68.12 +/- acres 

Pin #:                           0756318355 

Tax Maps:                  Map Book 08150, Deed Page 0024, Date 9/22/1998 

Topography:               A topography map is included in this package as Exhibit B. 

Property
Characteristics:        Mostly wooded with mature mixed species woodlands.  A Phase One
                                  environmental study was completed on the property in 1997 and is available for
                                   review.  The Executive Summary of that report is included herein as Exhibit F.  

Zoning:                      The subject property is zoned Industrial Management by the Town of Morrisville.  The Industrial Management District is established as a district in which a variety of nonresidential uses are permitted including manufacturing, distribution, wholesale operations, warehouses, research facilities, offices and limited retail. The intent is to create a district subject to market needs and land compatibility.  Flex space, business parks, nonresidential planned developments are considered important elements of this district. Consistent with the uses are development standards for impact of development, community needs and appearance, traffic control and environmental concerns. (Amended 9-10-2001, Ord. #01-50)

Utilities:                      Most major utilities are contiguous to the site.  See Exhibit E for a copy of the water and sewer. 

Improvements:           None currently exist however, it is anticipated that Southport Road will be extended to join Triangle Parkway through the southern end of the property.  Also, it is anticipated that McKrimmon Parkway will be extended to join into either Triangle Parkway or further down to Evans Road.

Area
Improvements:          There is considerable office and flex development in the immediate area.
                                   Southport Business Park adjoins the property to the east.  Major
                                  developments in the area include Aviation Center II and Airpark
                                   Business Center. 

Price:                          $8,220,000  ($120,000 per acre)

Terms:                        Cash or other terms acceptable to the seller

Exhibit A

Exhibit B

Exhibit C 

Exhibit D

Exhibit E

Exhibit F

Phase I Environmental 

EXECUTIVE SUMMARY 

Mid-Atlantic Associates performed a Phase I "Environmental Site Audit (PESA) at a 60- acre tract located off Southport Drive in Morrisville, North Carolina. The site consists of undeveloped woodland. The subject site is bounded on the north by undeveloped woodland; on the east by the Southport Business Park and Aviation Center II complex; on the south by undeveloped woodland; and on the west by former woodlands which are currently being cleared for development of Airpark Business Center, a commercial/industrial complex. Based on our historical review, the subject site has been undeveloped woodland since at least 1958. Two approximately 5-acre areas of the site were also formerly used for agricultural purposes. 

Based on our list review, we did not identify contaminated sites within ASTM- specified search distances of the subject site. Three small-quantity generators of hazardous waste are located adjacent to the site's eastern boundary. However, the potential for contamination to the subject site as a result of these generators is relatively low. Based upon our observations and review of available information, we have no evidence to suggest that contamination of the subject site has occurred as a result of off-site activities.  

Mid-Atlantic observed no obvious signs of contamination present on the subject site. Based on the current findings, we have no evidence to support the need for further environmental assessment at this time. However, two potential environmental concerns exist at the site. First although no signs of contamination (i.e. stressed vegetation, etc.) were visible in their vicinity, several piles of apparent domestic waste found on the site could potentially contain regulated materials. If disturbance of these piles during construction activities reveals stained soils or soils with unusual odors, Mid-Atlantic recommends cessation of the work until it can be determined if additional assessment is necessary. The second potential environmental concern is the potential use of pesticides and/or herbicides on the property. Portions of the site were reportedly formerly used for agricultural purposes. Certain herbicides and pesticides which were commonly used in the past may be found in the site soils and/or groundwater due to past agricultural uses. The level of further investigation involving the possible presence of toxic and/or hazardous substances from past agricultural practices, if any, should be based on conservative business practices or one's willingness to accept some limited environmental uncertainty, rather than on technical evidence of contamination. Corrective action rules established by the North Carolina Environmental Management Commission for protection of groundwater quality specifically exclude agricultural operations from assessment and clean-up requirements where such operations were not conducted under the authority of a permit issued by the State of North Carolina.