Rezoning Opportunity with Potential for Additional Units: River Valley has 2 or more sections touching Louisville Road that a new buyer could parcel off and develop or sell to an investor. In addition, a buyer could rezone to higher density and build additional units. Current ownership has estimated that an additional ~100 units could be built.
Proven Value-Add Opportunity: Current ownership has renovated 42 of the 85 units with LVP flooring. New ownership can continue the existing renovation program and even include stainless steel appliances and painted cabinets to improve asking rents.
Kentucky Transpark Industrial Park: River Valley is located less than 5 minutes from Kentucky Transpark which has an economic impact of more than $7 billion in the Bowling Green area. The park currently is home to more than 2,600 direct jobs and supports another 4,100+ in the immediate area. Some tenants of the park include:
Impressive Market Fundamentals: Bowling Green has seen very impressive occupancy numbers in recent years, with city occupancy at 96.9% and county occupancy at 97.6%. Both numbers are higher than the US average of 94.9%. Additionally, while the average rent in the US and Kentucky has decreased 2.9% and 2.36% respectively, average rent in Bowling Green has grown 3.5%.
Top Growing City in Kentucky: The Bowling Green metro area is the 2nd fastest growing city in Kentucky. The population grew by 18.3% from 2010-2020. Additionally, from 2010-2022, the number of households increased by 4,807 (19.6%) with projections calling for an additional 1,375 households over the next 5 years.
$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 that will be complete in 2025. Furthermore, the projected economic impact of this announcement is $20 billion.
#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 statewide economic impact of $672 million. The university has an enrollment of 14,729 and employs 1,854 people, making it one of the largest employers in Bowling Green.
Access to High Quality Schools & Retailers: Tenants of River Valley 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:
Top Economic Development City: The Bowling Green Area Chamber of Commerce was recognized as a top U.S. Economic Development Organization for 2022 by Site Selection Magazine, the leading economic development publication in the U.S. The city ranked #2 for number of projects won and #3 for projects per capita for communities with populations less than 200,000. In 2023, the Bowling Green Chamber announced 14 projects that created 922 new jobs via $97 million in capital investments.
Statewide Tourism Industry Exploding: In 2023, the state of Kentucky saw $301.2 million invested in the tourism industry showing corporations are willing infuse money into an ever-growing economy, including:
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 Valley") 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 Valley (“Property”).
NOW THEREFORE, the parties agree, in consideration of the covenants and agreements contained herein, as follows: