Prime Development Opportunity: The offering consists of 23.11 acres. The land was previously approved for 240 multifamily units by way of sewer letter. Additionally, because the land is in the county, there will be no formal planning, approval, or permitting process. The size of the site allows the potential opportunity for future expansion or Phase II.
Highly Ranked School District: Burgreen Road Land is zoned for Heritage Elementary (1.9 miles), Liberty Middle (1.5 miles), and James Clemens High (2.6 miles). All three zoned schools are ranked 9/10 or higher, according to greatschools.org.
Fast-Growing Limestone County: Limestone County ranks as the #1 fastest growing county in the state of Alabama, according to census data released in March. The county has grown 10.7% in the last 3 years.
Peak Delivery & Rapid Absorption: Limestone County has not seen any construction starts since the first quarter of 2023, with the last units expected to be delivered in the third quarter of 2024. From the fourth quarter of 2024 through 2026, the county is projected to experience rapid absorption, reducing submarket vacancy levels to nearly 8%.
Economic Development in Limestone County: Limestone County has seen significant investments recently, including:
Exploding Huntsville Market: Huntsville is the fastest growing metropolitan area in Alabama and the largest city in the state. According to CoStar, a range of economic drivers, such as low business and living costs, favorable tax incentives, high in-migration, and the presence of Redstone Arsenal, have attracted a diverse group of businesses to the area.
Huntsville Rated #1 Best Job Market in the US: According to SmartAsset, Huntsville has been rated the #1 Best Job Market in the United States. YoY job growth, as of April 2024, was 3% vs the U.S. average of 1.3%. Employment has grown 16% from 2018-2023 vs US average of 5%.
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 ("Burgreen Road Land") located in Madison, Alabama.
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 Madison, Alabama and known as Burgreen Road Land (“Property”).
NOW THEREFORE, the parties agree, in consideration of the covenants and agreements contained herein, as follows: