Eminent Domain in Progress: GDOT is in the process of developing a new off ramp for I-185, and 2 buildings have been taken under eminent domain.
Proven Value-Add Opportunity: Current ownership has renovated 39 units that are achieving $100 rent premiums over non-renovated units. New ownership will have the chance to increase NOI by up to $164,400 by renovating the remainder of the units.
Enhance Curb Appeal: New ownership will have the opportunity to enhance the curb appeal of Parkway Place through new signage, improved landscaping, resurfaced parking lot, and enhanced pool deck.
Columbus’ High Quality of Life: Columbus 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. The median home cost in the area is $127,700 while the national average is $291,700, and the city’s cost of living score of 74.4 is lower than other large cities in GA including Atlanta and Augusta.
Access to Demand Drivers: Parkway Place provides convenient access to nearby demand drivers, including:
Fort Benning Military Base: Fort Benning has one of the largest footprints of any Army Base as the city of Columbus is the 2nd largest city in Georgia. The base has an economic impact in the region of over $4.75 billion and supports over 120,000 people throughout the area.
Diverse Employment Base: Columbus is home to 13 companies across the FinTech, Insurance, Government, Vehicle Manufacturing, Healthcare, and Hospitality industries that employ at least 1,000 people. Notable and international brands include TSYS, Aflac, Kia Motors, Piedmont, Synovus, and The Pezold Companies.
Major Development Announcements: Columbus has seen many new developments and investments recently 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 Parkway Place (“Property”) located in Columbus, Georgia. 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: