Luxury Living with Historic Charm
All three properties have been fully renovated featuring kitchens with stainless steel appliances, granite countertops, new hardware and fixtures, wood flooring in all living areas, designer cabinetry, elegant tile bathrooms, large windows, and mountain or city views while keeping the historical charm of the exterior
Rent Growth Potential
Submarket rents are anticipated to grow by 6.0% in 2022, and 5.0% in 2023, according to CoStar projections. Submarket vacancy and rent growth are both outperforming historical averages.
Ground Floor Offices Provides Additional Income
Fort Wood and Fountain Plaza offer 1st floor office space that provides additional income to the portfolio.
Excellent Downtown Chattanooga Location
All 3 properties border the University of Tennessee Chattanooga and are minutes from the Riverfront, Northshore, and Southside neighborhoods. They feature bike scores of 76, 83, & 91 allowing for quick access to local jobs and entertainment throughout downtown.
Vibrant Downtown Chattanooga Riverfront
The Riverfront District, roughly 1-2 miles from the property, is home to a variety of local and tourist attractions, including the Tennessee Aquarium, Riverfront Parkway, 21st Century Waterfront Park, and AT&T Field.
$822 Million Volkswagen Investment
Volkswagen broke ground on an $800 million electric vehicle plant, which is expected to create 1,000 jobs. The 762,000 SF addition is expected to be completed in early 2022. Volkswagen is under construction on an additional $22 million battery engineering lab adjacent to the production plant.
Chattanooga Innovation District
The Innovation District of Chattanooga offers innovation economy assets including startup incubators and venture capital firms and is led by The
Incubator through the Chattanooga Chamber, the third largest business incubator in the United States.
Direct Access to Chattanooga’s Major Employers
Over $4.8 billion has been invested into Chattanooga in the last 5 years creating over 13,600 new jobs. The Chattanooga Portfolio provides tenants with direct access to Chattanooga’s largest employers, including:
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 Chattanooga Portfolio (“Property”) located in Chattanooga, 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:
In connection with your interest in a potential, negotiated acquisition of those certain properties listed in Exhibit A hereto (individually or collectively as the context may require, the “Property”) from [Seller] (individually or collectively as the context may require, the “Company”), you have requested certain information concerning the Property from the Company and its affiliates and its and their respective directors, officers, members, partners, employees, representatives, agents and/or advisors (including without limitation, attorneys, accountants, consultants and financial advisors) (individually or collectively as the context may require, the “Company’s Representatives”). In consideration of furnishing you with the Evaluation Material (as defined herein), the Company requests your agreement to the following: