$8 Million+ Renovation Since 2017: Highlights include screened porches, fencing, stainless steel appliances, granite countertops, and washer/dryer connections.
Room To Grow Rents: Nearby comps are renting for almost $325 per unit higher than The Roxbury.
Large Floor Plans: The Roxbury has an average floor plan size of 1,170 SF, which is larger than many surrounding comps. Over 90% of the property features 2BD or 3BD units.
Proximity to Memphis’ Best Retail: The Roxbury is ideally positioned within 10 minutes some of Memphis’ premier retail centers, including:
Desirable Zip Code with High Barrier to Entry: The average single family sale price in the 38119 zip code is $279,000 with home sales up to 2.295MM in the last 12 months. Over the last 5 years, there has been a 64% increase in average home sale price.
Strong Real Estate Market: Memphis real estate properties have increased in value over 5% during the past year with properties expected to grow an additional 2.3% within the next year. Additionally, the city has a rental rate of 52.5%, making the market attractive for investors.
Impressive Economy: According to some experts, Memphis could see a 38.6% increase in jobs over the next 10 years as the city is already ranked #1 in the US for Job Creation. Additionally, the state of Tennessee does not have income tax, making the city a desirable place for relocation if one were to move.
$5.6 Billion Ford Motor Company Job Announcement: Ford announced a new campus hub which will bring 5,800 jobs. Over 27,000 direct and indirect jobs will be created to help support the site’s operations. Ford expects to create around $1.02 billion in annual earnings and will contribute $3.5 billion each year to the state of Tennessee’s GDP.
$2.3 Billion Investment in Renovation and Capital Needs: St. Jude’s Children’s Research Hospital has increased its operational budget $1.4 billion dollars in addition to adding over 2,300 jobs within the next 5 years. The hospital also recently announced plans to increase funds for construction, renovation, and capital to $2.3 billion from $1.9 billion.
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 The Roxbury (“Property”) located in Memphis, 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: