Robust Lease Trade-Outs: During the last three months, The Standard at White House has successfully increased rents in each unit type.Over the last 12 new leases signed, rents have grown 18.06% over expiring leases with an average increase of $233 per unit. New ownership has the ability to continue to increase rents as remaining old leases expire.
Consistent High Occupancy: Over the past 18 months, The Standard at White House has had a physical vacancy no higher than 3% with current physical vacancy less than 1%.
Expansive Amenities Package: The Standard at White House features amenities including Grilling Stations, Resort Style Saltwater Pool, State of the Art Fitness Center, Pet Stations, and a Complimentary Starbucks Coffee Bar.
High Quality School System: Tenants at Standard at White House are zoned for White House Heritage School, a joint middle and high school, as well as White House Heritage Elementary School. White House, TN is located in both Sumner and Robertson County, but tenants at the property are zoned for Robertson County. Students at Heritage have a 95% graduation rate compared to White House High School in Sumner County with an 89% rate. White House Heritage is also ranked higher than White House HS (greatschools.org).
Proximity to Demand Drivers: The Standard at White House is centered around variety of major demand drivers and recent job announcements, including:
Springfield (13 miles):
Goodlettsville/Hendersonville (15 miles)
Clarksville (40 miles)
Portland/Orlinda (15 miles)
Pleasant View (25 miles)
Lebanon (35 miles)
$1.4 Billion Airport Expansion: Standard at White is located 30 minutes from Nashville International Airport, which is in progress on a $1.4 billion expansion plan. The renovation will include more parking, larger baggage claim and ticketing areas, an expanded concourse, new international facilities, and a hotel. By 2023, BNA passenger traffic will grow from 18 million to more than 23 million.
$1.2 Billion Oracle Job Announcement: Oracle announced a new campus hub which will bring 8,500 jobs with an average salary of $110,000/year to Nashville, the largest job announcement in Tennessee history. Oracle also said over 11,500 ancillary jobs would be created plus another 10,000 temporary jobs through construction and other support services.
Additional Nashville Developments: In the last five years, TNECD has supported 55 economic development projects in Davidson County resulting in more than 25,000 job commitments and approximately $3.2 billion in capital investment. Highlights include:
Nashville’s Attractive Employment Base: Nashville is home to dozens of companies that employ over 1,000 people, highlighted by:
Nashville is a Top-Ranked City: Due to its rapidly growing population, jobs, and economy Nashville 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 Standard at White House (“Property”) located in White House, Tennessee. 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: