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 $39 per unit more than in-place leases.
Interior Value-Add: New ownership will have the opportunity to add value to the property through renovation, such as replacing the countertops, painting the cabinets, replacing the fixtures, or adding stainless steel appliances.
Room to Grow Rents: River Tanmer is currently 98% occupied with rents well below market value. Nearby properties with similar vintage are achieving over $450 on 1BD, $300 on 2BD units, and $170 on 3BD units.
$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: 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 17,517 and employs 2,623 people, making it the largest employer in Bowling Green.
Access to High Quality Schools & Retailers: River Tanmer tenants are within 15 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 ("River Tanmer") 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 River Tanmer (“Property”).
NOW THEREFORE, the parties agree, in consideration of the covenants and agreements contained herein, as follows: