Repositioned Asset Following Major Renovation: Significant capital has been spent renovating the interiors with all new hardwood style flooring, granite countertops, stainless steel appliances, and new cabinetry.
Loss-to-Lease Burnoff: New ownership has the opportunity to take advantage of organic NOI growth through loss-to-lease burnoff. Recent leases are currently renting for over $82 per unit more than in-place leases.
Rent Growth Opportunity: New ownership will be able to increase rents and capitalize on the demand in the market to potentially increase NOI. Submarket rents are anticipated to grow by 6.7% in 2022 and 5.3% in 2023, according to CoStar projections.
#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:
Rapid Job & Population Growth: Bowling Green is the fastest growing city in the state, and Bowling Green is adding the most jobs in the state, with a future job growth of 46.4%.
Access to High Quality Schools & Retailers: The Enclave tenants are within 10 minutes of some of Bowling Green’s top retail and schools:
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:
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 ("The Enclave") located in Bowling Green, Kentucky.
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 Bowling Green, Kentucky and known as The Enclave (“Property”).
NOW THEREFORE, the parties agree, in consideration of the covenants and agreements contained herein, as follows: