CLARKSVILLE, TENN. – April 7, 2016 – Ten-X (formerly Auction.com), the nation’s leading online real estate marketplace, announces the upcoming sale of Independence Place Apartments, a Class-A, 228-unit complex in Clarksville, Tennessee. Ten-X is working with Holliday Fenoglio Fowler, L.P. (HFF) to sell the property, which will be available to purchase on the Ten-X Commercial platform May 2-4 with a starting offer set at $6 million.
Located at 3193 Fort Campbell Blvd., about 50 miles from Nashville, Tennessee, the 2009-built Independence Place Apartments consists of three-story buildings with a robust unit mix including ones, twos, threes and fours, with numerous units featuring four bathrooms. The asset sits on 15-acres with amenities including tanning beds, a resident’s lounge with billiard tables, a putting green, media room, grilling area, sand volleyball court, clubhouse and 24-hour fitness center. All units also come with an extended cable TV package.
Because of its location just a few miles south of the Fort Campbell U.S. Army installation, Independence Place Apartments receives soldiers from the base’s housing referral program, renting units either by unit or bed. Fort Campbell is the nation’s second largest military base and the metro area’s largest employer.
Recent improvements in various Independence Place Apartments units have been completed, making the property more accommodating for military personnel and families. After the successful improvements, numerous other units remain for similar enhancements, leaving more room to improve upon the asset’s current 83.4 percent occupancy.
“Independence Place Apartments is a high-quality asset available on the proven Ten-X platform that has a new and already established value-add opportunity,” said Ten-X Commercial Real Estate Division General Manager Gordon Smith. “With lease-up opportunities available that are proven to work, a long list of amenities that set it apart from the competition, and a solidified military presence, this Class-A asset is trending in the right direction.”
Along with the local military presence, Independence Place Apartments is boosted by proximity to one of Clarksville’s most esteemed school districts, plus a growing manufacturing, hospitality and healthcare presence. Manufacturing has substantially contributed to recent job growth in Clarksville and Hankook Tires, one of the fastest-growing tire manufacturers in the world, will open a worldwide plant there in 2017.
For more information, please click here or call 844-694-4976.
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Ten-X is the nation’s leading online real estate marketplace and the parent to Ten-X Homes, Ten-X Commercial and Auction.com. To date, the company has sold 200,000+ residential and commercial properties totaling more than $37 billion. Leveraging desktop and mobile technology, Ten-X allows people to safely and easily complete real estate transactions entirely online. Ten-X is headquartered in Irvine and Silicon Valley, Calif., and has offices in key markets nationwide. Investors in the company include Google Capital and Stone Point Capital. For more information, visit Ten-X.com.
HFF and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 22 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.