Operational Upside:
Coming out of the pandemic, 500 Fifth sits below its pre-pandemic rents and current market rents of nearby assets allowing new ownership the potential to increase NOI through continued rent increases. Submarket rents are anticipated to grow by over 9.8% in 2022 and 3.2% in 2023, according to CoStar projections.
Premier Amenities Package:
Tenants have access to a premier amenities package, including a rooftop swimming pool, tanning deck, rooftop lounge, resident lounge, 24 hour fitness center, pet spa, bike repair/storage, complimentary coffee bar, and more.
Value Relative to Surrounding Properties:
500 Fifth offers tenants value relative to surrounding properties with comparable interiors and locations and rents up to $1,000+/month below new construction units.
Historic Downtown Nashville Population Growth:
The downtown population has grown 152% since 2010, reaching 14,000 people in 2020. It’s expected to grow to 21,736 people by 2024 and 26,582 people by 2026.
Constant Downtown Development:
Downtown Nashville’s thriving economy has led to over 125 projects under construction or proposed totaling over $6 billion, including 35+ offices, 60+ hotels, and 30+ mixed use projects.
Sought-After Urban Lifestyle:
With a walkability score of 93/100, 500 Fifth has ease of access to Nashville’s biggest entertainment and employment opportunities. Young professionals, students, and new transplants are drawn to The 500 Fifth for its walkable urban lifestyle.
THIS CONFIDENTIALITY AND BROKERAGE AGREEMENT ("Agreement") is made and agreed to by you ("Prospective Buyer") for the benefit of THE KIRKLAND COMPANY ("Broker"), with respect to certain real property ("500 Fifth") located in Nashville, Tennessee.
BACKGROUND:
1 The Offering Memorandum has been prepared by Broker for use by a limited number of parties and does not purport to provide a necessarily accurate summary of the Property or any of the documents related thereto, nor does it purport to be all-inclusive or to contain all of the information which prospective buyer may need or desire. All projections have been developed by Broker and designated sources and are based upon assumptions relating to the general economy, competition, and other factors beyond the control of the Owner and therefore are subject to variation.
NOW THEREFORE, the parties agree, in consideration of the covenants and agreements contained herein, as follows:
By submitting this form, you have acknowledged, read, and agreed to this above Confidentiality and Brokerage Agreement.
THIS CONFIDENTIALITY AND BROKERAGE AGREEMENT ("Agreement") is made and agreed to by and between THE KIRKLAND COMPANY ("Broker"), and "Prospective Buyer" with respect to the sale of certain real property located in Nashville, Tennessee and known as 500 Fifth (“Property”).
NOW THEREFORE, the parties agree, in consideration of the covenants and agreements contained herein, as follows: