Room to Grow Rents: Covington Oaks is currently 100% occupied with rents well below market value. Nearby properties with similar vintage are achieving over $440 on 1BD and $420 on 2BD units.
Light Value-Add Opportunity: New ownership will have the opportunity to add value to the property by updating the interiors, such as new fixtures, countertops, appliances or painted cabinets.
Pristine Neighborhood Setting: Covington Oaks offers tenants a unique neighborhood setting with newly paved streets, sidewalks, lush landscaping, and garages.
Fastest Growing City in Kentucky: The Bowling Green metro area is the fastest growing city in Kentucky. The population grew by 24% from 2010-2020.
$2 Billion Battery Plant Job Announcement: Envision AESC recently announced plans to build a $2 billion electric vehicle battery plant that will bring 2,000 jobs to Bowling Green.
#2 Ranked Manufacturing City: Bowling Green’s six largest facilities employ over 10,000 people with an economic impact over $14.4 billion. The jobs at the top six facilities help support over 8,000 other jobs in the community. The below companies all recently announced investments in their Bowling Green facilities:
Western Kentucky University: Founded in 1906, Western Kentucky University has an estimated economic impact of $672 million throughout Kentucky & $341 million economic impact in Warren County. The university has an enrollment of 16,750 and employs 1,854 people, making it one of the largest employers in Bowling Green.
Access to High Quality Schools & Retailers: Covington Oaks tenants are within 5 minutes of some of Bowling Green’s top retail and schools:
Proximity to Staple Employers: Bowling Green is home to several staple employers in the auto manufacturing, retail, education, and medical sectors:
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 Covington Oaks (“Property”) located in Bowling Green, Kentucky. 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: