Recently Renovated Asset:
Current ownership has updated the interiors with all new granite countertops, appliances, fixtures, painted cabinets, and kitchen flooring.
Additional Upside Opportunities:
New ownership can also potentially take advantage of additional factors that could lead to increased property performance, which include:
Rent Growth Opportunity:
Greenbriar sits well below market rent of nearby assets allowing new ownership the potential to increase NOI through rent increases. Submarket rents are anticipated to grow by 13.7% in 2021, 8.0% in 2022, and 4.3% in 2023 according to CoStar projections.
Popular 8th Ave Neighborhood:
Tenants have immediate access to a highly desirable neighborhood within Nashville that features an extensive list of bars, restaurants, boutiques, entertainment, and coffee shops, led by M.L.Rose, Hattie B’s, Sinema, Zanies, and 8th & Roast.
Nashville Fairgrounds Redevelopment:
The Nashville Fairgrounds, less than 2 miles away from Greenbriar, is undergoing a massive redevelopment, anchored by the construction of a new $345 million soccer stadium for Nashville SC. Multiple mixed-use developments with retail, office, hotel, apartment, and green space will surround the new stadium.
Proximity to Major Demand Drivers:
Greenbriar is within 3 miles of some of Nashville’s best demand drivers, including:
$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