JLL is pleased to present Eleven North (“The Property”) a 302-unit Class A, institutional property. Located in Nashville’s North Gulch neighborhood, the Property provides residents with easy access to the CBD, the Gulch, and the fast-growing Charlotte Avenue Corridor. Completed in 2012, Eleven North boasts a luxurious amenity package, large floorplans and contemporary finishes. More importantly, the property offers the urban living experience sought by Nashville’s rapidly-expanding millennial population that crave access to employment centers, lifestyle amenities, nightlife venues, restaurants, and, of course, the city’s world-renowned music scene. Moreover, Eleven North is surrounded by two of Nashville’s highest profile, game-changing redevelopment projects, bringing thousands of jobs and lifestyle amenities walkable to the property: Capitol View - 1.3M+ SF mixed-use development project is directly across Charlotte Ave from the property. HCA’s New Division & Lifeway’s New HQ are bringing 3,000 new jobs. Potential retailers include a much needed downtown grocery story (Publix, Trader Joe’s, etc.), boutique shops, & high-end restaurants. Lifeway Campus – 15-acre redevelopment project just steps from the Property. The project includes a 540-room Hyatt Regency Hotel, a cinema grill, upscale dining, an urban entertainment complex, as well as, blue-chip employers. Furthermore, while Eleven North paved the way for Nashville’s new urban apartment scene, many newer competitors have taken advantage of higher-end finishes and features. The new, more modern finishes have resulted in rent premiums. These higher rent thresholds provide the perfect opportunity for a new owner to adopt an interior modernization program to bridge the $300/month gap with nearby competitors.
OFFERING HIGHLIGHTS New Construction Transforms Area – Over 21M SF of new office and retail underway within 1/2 mile of the property Value Creation Opportunity – Significant area redevelopment fuels organic & market-to-market drive rent growth up to $300/month Exceptional Location – Located at the intersection of the Downtown CBD, The Gulch, and West End Luxury Living – State-of-the-art community amenities compliment the sleek, contemporary unit finishes Easy Access – Convenient access to major interstates such as the I-40, I-440, I-65 and major thoroughfares such as Charlotte Ave, Church Street, and Broadway Elite Renter Profile – $85,000 average household income of existing tenants is 64% higher than the national average