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 AGREEMENT (“Agreement”) is made and agreed to by The Kirkland Company (“Broker”), exclusive listing broker for the Property, and (“Buyer”) regarding the sale of the property known as 500 Fifth (“Property”) located in Nashville, Tennessee. The obligation of confidentiality undertaken pursuant to this Agreement shall survive the terms of the Broker’s listing agreement with the Owner.
BUYER HAS REQUESTED information from Broker for the purpose of evaluating a possible acquisition of the Property. The Owner of the property has instructed Broker to deliver information concerning the Property, much of which is highly confidential, only to those potential purchasers who sign this Agreement. To receive an Offering Memorandum (“Offering Memorandum”) please read, sign and return this Confidentiality Agreement to Broker. 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 Buyers 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 Seller and therefore are subject to variation.
THEREFORE, THE PARTIES AGREE, in consideration of the covenants and agreements contained herein, as follows: