Repositioned Asset: Views at Signal Mountain offers new ownership a repositioned asset with minimal deferred maintenance. Interiors include hardwood style flooring, stainless steel appliances, granite countertops, updated paint, lighting, and fixtures.
Expansive Amenities Package: The property offers its tenants a beautiful amenities package, including:
Significant Upside Opportunities: The recent leases are on average $32 above average in-place rents, providing Loss-to-Lease burn-off for new ownership. Additionally, the property’s ample green space allows flexibility to add amenities to the property:
Rent Growth Opportunity: Views at Signal Mountain is over $400 below rents of nearby properties. New ownership will be able to increase rents and capitalize on the demand to potentially increase NOI. Submarket rents are anticipated to grow by 8.1% in 2022 and 5.4% in 2023, according to CoStar projections.
$822 Million Volkswagen Investment: Volkswagen broke ground on an $800 million electric vehicle plant, which is expected to create 1,000 jobs. The 762,000 SF addition is expected to be completed in 2022. Volkswagen is under construction on an additional $22 million battery engineering lab adjacent to the production plant.
Vibrant Downtown Chattanooga Riverfront: The Riverfront District, roughly 10 minutes from the property, is home to a variety of local and tourist attractions, including the Tennessee Aquarium, Riverfront Parkway, 21st Century Waterfront Park, and AT&T Field.
Chattanooga Innovation District: The Innovation District of Chattanooga offers innovation economy assets including startup incubators and venture capital firms and is led by The Incubator through the Chattanooga Chamber, the third largest business incubator in the United States.
Direct Access to Chattanooga’s Major Employers: Over $4.8 billion has been invested into Chattanooga in the last 5 years creating over 13,600 new jobs. Views at Signal Mountain provides tenants with direct access to Chattanooga’s largest employers, including:
Bustling Transportation Hub: Chattanooga’s ideal location makes it an ideal hub for all types of business:
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 Views at Signal Mountain (“Property”) located in Chattanooga, 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: