Value-Add Opportunity: New ownership will have the opportunity to increase rents by renovating the interiors, including new counters, flooring, cabinets, lighting, and fixtures
Enhance Amenity Package: Camelot amenities can be enhanced through an improved pool deck, new dog park, or new grilling/picnic area.
Organic Rent Growth Potential: New ownership will have the opportunity to increase rents on all new leases to increase NOI. Current rents in the market of similar vintage assets are over $200 higher than Camelot.
Rapidly Growing Limestone County: Limestone has been the fastest growing county in Alabama over the last two years, and Athens is of the state’s fastest growing cities. Limestone county grew almost 20% in the last decade and is projected to increase another 20% over the next 10 years.
Massive Limestone County Developments: Limestone County ranked #1 in new capital investment in the state in 2020 with over $1.1 billion in new investments, led by Mazda Toyota, Toyota Tsusho America, and Indorama Ventures. Amazon recently announced a new 1 million SF fulfillment center that will create 500 new jobs.
Expanding Job Market: Camelot offers tenants access to over 170,000 jobs within a 20 mile radius, including:
Proximity to Huntsville: Huntsville is the fastest growing metropolitan area in Alabama and is expected to become the largest MSA in the state by 2022. According to CoStar, a range of economic drivers, such as low business and living costs, favorable tax incentives, high in-migration, and the presence of Redstone Arsenal have attracted a diverse group of businesses to the area.
Located in an Opportunity Zone: Camelot is located in an opportunity zone, providing a future road map for continued development in the area.