Interior Value-Add Opportunity
New ownership will have the opportunity to add value to the properties by updating the interiors, such as new flooring, countertops, appliances or updated cabinets
Amenities Value-Add Opportunity
Each property has plenty of open space for new ownership to improve the amenities package, such adding picnic/grilling areas, updating/adding a playground, or updating the pool deck (all properties have in-ground pools)
Below Market Rents
The Rainbow City and Gadsden Portfolio sits below market rent of nearby assets allowing new ownership the potential to increase NOI through rent increases. Submarket rents are anticipated to grow by over 7.5% year-over-year in 2022 and 4.6% in 2023 according to CoStar projections.
National Recognition in Manufacturing Industry
The state of Alabama has garnered national attention for its recent success in the Manufacturing industry, ranking in the Top 10 in several relevant categories. Investments by international companies in Alabama’s largest cities are evidence of this:
Mercedes Benz (Tuscaloosa) – Recently invested $1 Billion in its Tuscaloosa plant and created more than 600 jobs, and is slated to complete a $53 million expansion that will create over 370 new jobs in 2022.
Airbus (Mobile) – Added 600 new jobs in 2019, and projecting 275 more throughout 2021.
Toyota/Mazda (Huntsville) – Invested $1.6 billion in 2018, expanded to $2.4 billion in 2020, creating and hiring for a plant that will employ up to 4,000 workers.
Local Economic Drivers
Proximity to Major Markets
Residents of Gadsden and Rainbow City reap the benefits of being within a 90-minute drive of 3 thriving Southeast markets, surrounding the area with significant job markets and rapidly-growing cities:
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 ("Rainbow City / Gadsden Portfolio") located in Rainbow City / Gadsden, Alabama.
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 Rainbow City / Gadsden, Alabama and known as Rainbow City / Gadsden Portfolio (“Property”).
NOW THEREFORE, the parties agree, in consideration of the covenants and agreements contained herein, as follows: