New ownership will have the opportunity to add value to the property by updating the interiors with new flooring, countertops, appliances, cabinets, or lighting. The property also has ample green space for additional amenities.
Rent Growth Opportunity:
Top of the market rents are achieving over $600 more than Forest Park, leaving new ownership with rent growth potential. Submarket rents are anticipated to grow by 7.4% in 2022 and 4.1% in 2023, according to CoStar projections.
Massive Huntsville Corporate Developments:
Mazda Toyota Manufacturing is investing $2.311 billion in a state-of-the-art automaking facility that is under construction and will support up to 4,000 employees. The FBI is under construction on a $1 billion outpost viewed as HQ2 that will support over 5,000 jobs upon completion. The Air Force recently selected Huntsville for the US Space Command headquarters and will bring at least 1,600 jobs.
Convenient Huntsville Location:
Exploding Huntsville Market:
Huntsville is the fastest growing metropolitan area in Alabama and is expected to become the largest MSA in the state in 2022. 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.
Proximity to Major Employers:
Huntsville is a Top 5 City:
Due to its rapidly growing population, jobs, and economy Huntsville has been highly ranked in a number of categories, 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 the 500 Fifth (“Property”) located in Nashville, TN. 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: