Atlanta Beltline, Inc. (“ABI”) is soliciting proposals from qualified appraisal firms to conduct a Land License Rental Rate Study & Appraisal Services for the Beltline corridor, a 22-mile urban trail encircling the City of Atlanta. ABI licenses Beltline land to adjacent businesses and restaurants, primarily for outdoor patios and dining, under license agreements with the following key characteristics:
Land is conveyed as-is; no additional site improvements are provided by ABI.
Tenants assume all liability associated with use of the licensed premises.
ABI retains a 30-day termination right on most existing agreements to enable land recapture for future transit construction. ABI is considering a 6-month termination after year one, a 12-month termination after year two, and no termination over 5-year terms.
The corridor traverses multiple distinct Atlanta submarkets, resulting in significant variation in supportable market rental rates along the corridor.
ABI seeks a defensible, scalable methodology to determine appropriate license fees for its leasable land. ABI is considering a percentage-of-submarket-retail-rent approach, and the selected firm will evaluate its feasibility and recommend the most appropriate methodology or market rates for ABI land.
