Phase I Light Value-Add: New ownership will have the opportunity to add value to the property through a light renovation, such as painting the cabinets, replacing carpet flooring with LVT flooring, or adding stainless steel appliances.
Fully Approved & Entitled Phase II Multifamily Land Site: The offering includes a Phase II component consisting of 4.37 acres zoned for an additional 56 multifamily units that new ownership will have the ability to develop.
Large Floor Plans: Cumberland Trace Village has an average floor plan size of 1,198 SF, which are some of the largest floor plans compared to the surrounding comps. Over 83% of the property features 2 or 3 bed units.
Room to Grow Rents: Average rents for nearby properties are over $200+ per unit higher than Cumberland Trace Village.
Outstanding School System: Tenants at Cumberland Trace Village have access to some of Bowling Green’s best schools, all within 1 mile of the property, including Greenwood High School, Cumberland Trace Elementary, and Drakes Creek Middle. In addition, all schools are ranked 7/10 or higher (greatschools.org).
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 in the U.S.: 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 17,518 and employs 1,854 people, making it one of the largest employers in Bowling Green.
Robust Demand Drivers: Bowling Green is home to several staple employers in the auto manufacturing, retail, education, and medical sectors:
Bowling Green’s High Quality of Life: Bowling Green is an amenity-rich city with a below-average cost of living, providing its residents the opportunity to take advantage of a high quality of life:
Top Economic Development City: Bowling Green has been recognized again as one of the nation’s top areas for attracting corporate facility investment. The ranking is based on the number of projects won, and Bowling Green ranked second in total projects for metros among communities with populations less than 200,000 and ranked fourth in projects per capita. This is the tenth consecutive year for Bowling Green to be ranked as a top tier-2 metropolitan area in the United States.
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 Cumberland Trace Village (“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:
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 Bowling Green, Kentucky and known as Cumberland Trace Village (“Property”).
NOW THEREFORE, the parties agree, in consideration of the covenants and agreements contained herein, as follows: