Investment Highlights

Value-Add Opportunity: New ownership will have the opportunity to add value to the property through updating the interiors, exteriors, and amenities, such as replacing the countertops, painting the cabinets, replacing the fixtures, adding stainless steel appliances, or upgrading amenities.

Proximity to Evansville’s Best Retail: Reserves at Red Bank is positioned within 20 minutes of Evansville’s premier shopping centers, including:

  • 215-Acre Promenade Development: A mixed-use, full-scale lifestyle development that is anticipated to add over $500,000,000 in economic development to the region. Anchor tenant Costco is the first Costco in the Tri-State area and opened at the end of June 2019. The development also includes Academy Sports & Outdoors, Marshalls, Burkes Outlet, Home Centric, office space, and hotel accommodations.
  • Eastland Mall: 1,034,000 SF; JCPenney, Dillard’s, Macy’s; 80+ stores
  • East Lloyd Commons: 159,682 SF; Dick’s Sporting Goods, Michaels, Best Buy
  • Evansville Pavilion: 273,697 SF, Target, TJ Maxx, Fresh Market, Kirkland’s

Evansville Demand Drivers: The Evansville area is home to several large employers, including:

  • Deaconess Hospital (HQ) - 6,500 jobs; 555 beds
  • Evansville Vanderburgh School Corporation - 3,450 jobs
  • St. Vincent Evansville - 3,150 jobs; 438 beds
  • University of Southern Indiana - 2,650 jobs; 10,204 students
  • Berry Global (HQ) - 2,600 jobs
  • SKANSKA - 1,550 jobs
  • TJ Maxx - 1,600 jobs
  • Koch Enterprises (HQ) - 2,100 jobs
  • OneMain Financial (HQ) - 1,.250 jobs
  • Vectren Corporation - 1,000 jobs

Central Location to Major U.S. Markets: The total population within a 300-mile radius of Evansville is 43,287,941, and Evansville is under a 4-hour drive from major MSA’s including St. Louis, Indianapolis, Cincinnati, Louisville, and Nashville.

Growing Evansville Market: The Evansville market is a thriving economic hub for a three state region, issued over 525 building permits in 2019, and has $975 million invested in regional quality of place projects.

$803 Million Toyota Job Announcement: Toyota Motor Manufacturing Indiana, located 30 minutes from Reserves at Red Bank, announced a new $803 million investment, which will bring 1,400 additional jobs. 

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