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FOR SALETalbots Corner WEST TRINITY LANE | NASHVILLE, TN
PREMIER DEVELOPMENT SITE
Talbots Corner WEST TRINITY LANE | NASHVILLE, TENNESSEE
FOR SALE
5.39 ACRE INFILLUrban Core Development Opportunity
24
Location
• 2.6 Miles to Topgolf
• 3.6 Miles to Nissan Stadium
• 3.5 Miles to First Tennessee Park
• 4.2 Miles to Downtown Nashville
DOWNTOWN NASHVILLE
65
• 320 -Unit apartment complex
• 240- Unit luxury apartment complex
• Redevelopment of 105 acres on Cumberland River’s east bank
• 251-Unit apartment complex
• 400,000 SF mixed-use development
• Sunset View Town Homes• Mixed-use development
Talbots Corner WEST TRINITY LANE | NASHVILLE, TENNESSEE
FOR SALE
CONCEPT SITE PLAN
• Urban core development opportunity
• Mixed-use, office, multifamily, and retail investment opportunity
• 200’ from Interstate 65
• 3 Miles from Downtown Nashville
• Nashville continues to lead the U.S. in job growth
• Nearby amenities include Topgolf, Nissan Stadium, First Tennessee Park and multiple restaurants
• Views of Downtown Nashville
Property Highlights
5.39 Acres
Ben Mosley, MRICS +1 615 301 2814 [email protected]
1033 Demonbreun Street, Suite 600 Nashville, TN 37203 main +1 615 301 2800 fax +1 615 301 2957 cushmanwakefield.com
Michael Havens, CCIM +1 615 301 2813 [email protected]
Cushman & Wakefield Copyright 2015. The information contained herein was lawfully obtained from sources we consider reliable. Cushman & Wakefield is not responsible and expressly disclaims all liability, for errors, omissions, prior sales, withdrawal from the market or change in price. Seller (or Lessor, as the case may be) and broker make no representation as to the envi-ronmental condition of the property and recommend Purchaser’s (or Lessee’s) independent investigation.
Talbots Corner WEST TRINITY LANE | NASHVILLE, TENNESSEE
FOR SALE
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GEORGIA ALABAMA TENNESSEE NORTH CAROLINA
SOUTH CAROLINA
FLORIDA PANHANDLE MISSISSIPPI KENTUCKY LOUISIANA
2N ASHVILLEMARKET INSIGHTFirst Quarter 2018
The average effective rent in Nashville grew year-over-year at a similar rate as fourth quarter 2017. Vacancy increased but remains in the 5.0% range. Both factors indicate that the market is reaching an equilibrium.
With a minimal change in first quarter 2018, rent growth in second quarter 2017 carried the market over the past four quarters. Rent growth momentum is projected to normalize at an average annual rate of 2.8%.
The number of units under construction in Nashville decreased to fewer than 9,000 as of first quarter 2018. Approximately 50 properties are under construction and the majority are concentrated in Nashville’s core submarkets such as West End.
The largest developments under construction are: Bells Bluff (402 units) in the Charlotte submarket, Capitol View (378 units), Fifth + Broadway (350 units) in West End, Mosby Cool Springs (328 units) in Williamson County, Banks at West Fork (328 units) in Murfreesboro, 12th and Broadway (315 units) and Vertis Green Hills (310 units) in West End, and The Cameron at Franklin Park (302 units) in Franklin.
Nashville’s renter population is projected to grow by more than 19,000 households from 2017 to 2022.
The following are Cushman & Wakefield’s projections over the near term:
MULTIFAMILY TRENDS
HISTORICAL & FORECASTED METRO RENT GROWTH RATES
DEVELOPMENT / INVENTORY
DEMOGRAPHIC FUNDAMENTALS
Average effective rentincreased to $1,135.
Vacancy increased to an
average of 5.9%.
1.3% 0.8%-1.4% 0.4% 1.0%
11.9%
30.8%
14.0%
-2.0%
3.0%
8.0%
13.0%
18.0%
23.0%
28.0%
33.0%
Q2 '17Change
Q3 '17Change
Q4 '17Change
Q1 '18Change
1-YearChange(YOY)
3-YearChange
5-YearChange
5-YearForecast
Nashville United States
H I S T O R I C A L F O R E C A S T
NASHVILLE RENT GROWTH RATES
+1.0 +88% Y O Y B P S Y O Y
MULTIFAMILY FORECAST
Source: AXIOMetrics Forecast is 12-month outlook
POPULATION
PERCENTRENTER
HOUSEHOLDS
MEDIAN HOUSEHOLD
INCOME
2000: 1,381,2042010: 1,670,8902017: 1,885,1472022: 2,018,357
2000: 30.8%2010: 32.9%2017: 34.6%2022: 34.4%
2000: $43,4212010: $54,1282017: $57,5852022: $68,118
VACANCYRENTS PIPEL INE % GROWTH
NASHVILLE REGIONAL MARKET