Clay's Pointe OM

Page 1

CLAY’S POINTE DUPLEXES


SUBMITTED BY: LEAD AGENTS

Tim VanWingerden

Associate Louisville D. 513.878.7750 tim.vanwingerden@marcusmillichap.com

Jordan Dickman

First Vice President Investments Cincinnati Office D. 513.878.7735 jordan.dickman@marcusmillichap.com

Nick Andrews

First Vice President Investments Cincinnati Office D. 513.878.7741 nicholas.andrews@marcusmillichap.com

NON-ENDORSEMENT & DISCLAIMER NOTICE CONFIDENTIALITY DISCLAIMER THIS IS A BROKER PRICE OPINION OR COMPARATIVE MARKET ANALYSIS OF VALUE AND SHOULD NOT BE CONSIDERED AN APPRAISAL. This information has been secured from sources we believe to be reliable, but we make no representations or warranties, express or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies.

NON-ENDORSEMENT NOTICE Marcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation’s logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of Marcus & Millichap, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of Marcus & Millichap, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers.


CONTENTS

B R O K E R C A PA B I L I T I E S

06 | THE INVESTMENT

01

&

30 | LOCAL COMP E TITORS

02

38 | THE FIN ANC I ALS

03

44 | LOCAL M ARKE T

04

O P I N I O N O F V A L U E


CALABASAS, CALIFORNIA | HQ

80+ | OFFICES

2,500 | EMPLOYEES


UNRIVALED SUCCESS IN THE MIDWEST Nick Andrews

First Vice President Investments Director, NMHG

Jordan Dickman

First Vice President Investments Director, NMHG

INVESTMENT ADVISORS

Austin Sum

JD Schmerge

Brian Johnston

Tim VanWingerden

Senior Investment Associate

Investment Associate

Investment Associate

Investment Associate

DEBT & STRUCTURED FINANCE

Chris Litzler

Senior Director of Organization MMCC

VALUATION & RESEARCH

Sam Petrosino

Financial & Research Analyst

CLIENT RELATIONS

MARKETING

Alex Papa

Marketing Coordinator

Kristin Smith Marketing

Skyler Wilson

Client Relations Manager

OPERATIONS

Sidney Bills

Office Administrator

Josh Caruana

Vice President Regional Manager Indianapolis | Cincinnati | Louisville St Louis | Kansas City

Brittany Campbell-Koch Director of Operations

John Sebree

Senior Vice President National Director National Multi Housing Group

Liz Popp

Midwest Operations Manager

Michael Glass

Senior Vice President Midwest Division Manager National Director, Manufactured Home Communities Group


S E C T I O N

01

THE INV


VESTMENT


ELIZABETHTOWN, KY

CLAY’S POINTE DUPLE


EXES


CL AY ’ S P O IN T E

*


LOCATION

CLAY’S POINTE DUPLEXES LOUISVILLE DRIVE TIME: 1 HOUR LEXINGTON DRIVE TIME: 1.25 HOURS NASHVILLE DRIVE TIME: 3 HOURS

CL AY ’ S P O IN T E



N DIXIE HWY CORRIDOR Located off N Dixie, Clay’s Pointe is situated in an ideal location just minutes away from Baptist Health, Elizabethtown’s largest employer. Further, the N Dixie Highway is surrounded by an amenity rich retail corridor. Staple retail trades: Walmart, Target, Lowes, Bed Bath & Beyond, Kroger, Home Depot, Sam’s Club, and Barnes & Noble.


CLAY’S POINTE

EXTERIOR AMENITIES • Driveway • Private Patio • Yard • Garage • Neighborhood Living • Direct Access to major retail outlets



CLAY’S POINTE

INTERIOR AMENITIES • Spacious Floor Plan

• Laundry Room

• Dishwasher

• Walk-In Closets

• Garbage Disposal

• Walk-In Pantry

• Ceiling Fans

• Vaulted Ceilings*

• Fireplace

*SELECT UNITS



PROPERTY SNAPSHOT

CLAY’S POINTE DUPLEXES

SUBMARKE T: KENTUCKY WEST | COUNTY: HARDIN COUNTY

SUMMARY

102 CLAYS POINTE CT. ELIZABE THTOWN, KY

2006 & 2008

YEAR BUILT/RENO

62 1,192

AVERAGE UNIT SIZE

73,904

RENTABLE SQUARE FEET

11.72

96.9%

NUMBER OF UNITS

LOT SIZE (ACRES)

63

PARCELS

31

# OF BUILDINGS OCCUPANCY


Building Mechanicals

Type

Utility Source

HVAC

Central

Gas Furnace

Water Heater

Individual

Electric

Plumbing

PVC

PEX

Wiring

Copper

Construction: Foundation:

Slab

Framing:

Wood

Roof Type/Age:

Pitched Shingle

Exterior of Building:

Brick

Utilities: Electric:

Tenant Paid

Gas:

Tenant Paid

Water

Tenant Paid

Sewer

Tenant Paid

Trash:

Provided by City

Amenities: Walk-In Closet Open Floor Plan Fireplace

1 & 2 Car Garage

Notes


CLAY’S POINTE

INVESTMENT HIGHLIGHTS


S

VALUE ADD | INTERIOR RENOVATIONS PROVEN RENT GROWTH | OPERATIONAL UPSIDE IDEAL LOCATION ADDITIONAL DEVELOPMENT OPPORTUNITY ATTRACTIVE AMERICAN TRADITIONAL STYLE UNITS SUPERIOR ECONOMIC FUNDAMENTALS LOUISVILLE’S BEDROOM COMMUNITY


CLAY’S POINTE

HIGHLIGHTS Marcus & Millichap is pleased to present Clay’s Pointe for purchase, a subdivision of 31 duplexes located in the rapidly expanding market of Elizabethtown, KY.

VALUE ADD | INTERIOR RENOVATIONS Clay’s Pointe is leased significantly below the market with in-place rents on average $545 below the competitive set. Substantial rental increases are available through interior upgrades including granite countertops, stainless appliance package, and upgraded flooring and bathrooms. Projected rents after renovation are still over $150 below top of the market rents in Elizabethtown’s growing market providing an achievable strategy to build value and boost NOI.


PROVEN RENT GROWTH | OPERATIONAL UPSIDE

IDEAL LOCATION

The Elizabethtown-Fort Knox Submarket has seen

Located off N Dixie, Clay’s Pointe is situated in an

unprecedented rent growth in recent months with a

ideal location just minutes away from Baptist Health,

trailing 12-month rent growth averaging 16.7% YOY.

Elizabethtown’s largest employer. Further, the N

The current property has not kept up with rental

Dixie Highway is surrounded by an amenity rich

increases with an average effective rent of $x per

retail corridor. Staple retail trades: Walmart, Target,

month. This provides significant rental upside by

Lowes, Bed Bath & Beyond, Kroger, Home Depot,

implementing a marketing and lease renewal

Sam’s Club, and Barnes & Noble.

strategy.


CLAY’S POINTE

HIGHLIGHTS

SUPERIOR ECONOMIC FUNDAMENTALS

ADDITIONAL DEVELOPMENT OPPORTUNITY

town market has also experienced a bustling expansion. BlueOval,

Included in this offering is an additional 2.9 acres of land. This provides an opportunity for an incoming investor to develop additional units on the property.

Clay’s Pointe is home to a diverse set of economic drivers which include Baptist Health a primary hospital, a strong manufacturing and industrial sector, and a myriad of retail trades. The ElizabethFord’s SK battery manufacturing plant, is slated to bring 5,000 new jobs to Glendale, KY. Furthermore, Elizabethtown has 80+ manufacturing plants with over 9,200 employees, the leading plants are: Akebono Breake (1,300 employees), Metalsa Structural Products (1,700 employees), and Aletec industries (700 employees) according to Costar.


HIGHLIGHTS ATTRACTIVE AMERICAN TRADITIONAL STYLE UNITS This well-maintained subdivision features attractive style units with beautiful brick and vinyl exteriors, ample square footage, private yard space and patios, providing a competitive advantage to the local market. LOUISVILLE’S BEDROOM COMMUNITY Elizabethtown is Louisville’s bedroom community with a 45 minute drive to KY’s largest city. The i65 corridor between Louisville and Elizabethtown is growing rapidly. Shepherdsville located South of Louisville and between Elizabethtown has experienced explosive growth with an array of new production and manufacturing facilities such as a $165MM Jim Bean visiting center, a $41MM Walmart ecommerce fulfillment center with additional acres available for industrial expansion.


CLAY’S POINTE

MARKET PROVEN RENTS With a renovation program, an incoming investor can draft the top of the market rents, bringing rents to $1,324 on average providing a solid value-add opportunity for an investor with an increase of $593 from the subject average effective rent.

Property Clay's Pointe Avg Eff

Rent $901

Clay's Pointe Pro Forma Vineland Carriage Lincoln Avenue (2-bed) Renaissance Gardens Brookefield

$1,320 $1,385 $1,399 $1,449 $1,549


2 & 3 BEDROOM MARKET RENT

MARKET AVERAGE RENT

$901

$1,320

ff

t oin

’s P

y Cla

gE v eA

Cla

$1,385

a

ro

P nte

oi

P y’s

$1,215

ela

C nd

a

ag rri

n ve A n

ol

c Lin

R

e ard

eG

c an

iss

a en

$1,549

ns

ue

e

rm Fo Vin

$1,399 $1,449

o

Bro

eld

fi ke


CLAY’S POINTE

PROPOSED RENOVATIONS The new owner can take advantage of the value add opportunity and remodel these apartments with stainless appliance, modern light fixtures, and a new vanity providing an estimated $593 monthly premium on rents, capturing a 71% ROI on unit upgrades.

ITEM

2 & 3 BEDROOM

Granite Countertop

$1,500

Stainless Appliance Package

$2,100

New Kitchen Cabinets

$2,000

Modern Light Fixtures

$900

Bathroom Vanity

$1,000

Flooring & Paint

$2,500

Total

$10,000

$10K/UNIT AVG RENO COST

$593/MONTH AVG RENT INCREASE

71% ROI


1 STAINLESS STEEL APPLIANCES 3 MODERN LIGHT FIXTURES 4 NEW KITCHEN CABINETS 2 GRANITE COUNTERTOPS 3

4

3

1

4 1

1

2

2

2 1

4

4

2


S E C T I O N

02

LOCAL C


COMPETITORS


5

1

CL AY ’ S P O IN T E 4

3 2

*


REN T C OMPAR ABLE S 1

CROSSFIELD TOWNHOMES

2

LINCOLN AVE DUPLEXES

3

RENAISSANCES GARDENS

4

BROOKEFILED APT HOMES

5

VINELAND CARRIAGE HOMES

SUBJECT *

CL AY ’ S P O IN T E Address Units Avg. SF Year Built

102 Clays Pointe Ct, Elizabethtown, KY 62 1,192 2006

(2x2) Market Price ($/mo)

$900

Market Rate ($/SF)

$0.85

Effective Price ($/mo)

$826

Effective Rate ($/SF)

$0.84


LOCAL COMPETITORS 1

2

3

CROSSFIELD TOWNHOMES Address

L I N C O L N AV E D U P L E X E S

2213 Crossfield Dr, Elizabeth, KY

Address

Year Built

2017

Year Built

Occupancy

n/a

Occupancy

Units

28

RENAISSANCE GARDENS

525 Lincoln Ave, Elizabethtown, KY 2011-2020 100%

Units

22

2x1.5 Rent

$1,400

Rent

$1,399

1200

SF

1300

Rent/SF

$1.17

Rent/SF

$1.08

dishwasher, granite countertops, microwave, w/d hookup

110 Idlewood Ct, Elizabethtown, KY

Year Built

2008

Occupancy

100%

Units

59 2x2

3x2

$1,399

$1,499

SF

1,500

1,800

Rent/SF

$0.93

$0.83

2x2

SF

Unit Features:

Address

Rent

Unit Features:

Unit Features:

dishwasher, granite, disposal, microwave, w/d hookup

dishwasher, granite, disposal, microwave


LOCAL COMPETITORS 4

5

BROOKEFIELD APT HOMES Address

VINELAND CARRIAGE HOMES

103 Stoneledge Ct, Elizabethtown, KY

Year Built

2020

Occupancy

Lease-Up

Units

91 2x2.5

3x2.5

$1,499

$1,700

SF

1,167

1,760

Rent/SF

$1.14

$0.92

Rent

S

Address

100 Sparkling Ct, Vine Grove, KY

C L AY ’ S P O I N T E Address

Year Built

2014

Year Built

Occupancy

99%

Occupancy

Units

160

2006,2008 97%

Units

2x2

3x2

$1,310

$1,460

SF

1,114

1,339

SF

Rent/SF

$1.18

$1.09

Rent/SF

Rent

102 Clay’s Pointe Ct Elizabethtown, KY

Rent

62 2x2

3x2.5

$900

$1,066

990

1,408

$0.84

$0,78

Unit Features:

Unit Features:

Unit Features:

dishwasher, granite, disposal, microwave, w/d hookup

dishwasher, granite, disposal, microwave, hardwood

Walk-in Closet, Open floor plan, 1 & 2 car garages, fireplace


RENT SORT Two Bedroom Apartment Rents Sorted by Net Rent

Units

SF

Market Rent

Utility Adjustment/Month

Net Rent

Net Rent/SF

Lincoln Avenue (Sandy Springs) Duplexes 2011 - 2020

22

1300

$1,399.00

$0

$1,399

$1.08

Renaissance Gardens

2008

59

1500

$1,399.00

$15

$1,384

$0.92

Applewood Homes Brookefield Apartment Homes Vineland Carriage Homes Apartments Crossfield Townhomes Clays Point Pro Forma College Station Apartments Park Place Apartments Claysville Landing Pin Oak Villas

2008 2020 2014 2017 2006-2008 2008 1998 2007 2008

62 91 160 28 62 20 82 208 44

966 1167 1114 1150 990 1100 1100 1200 1300

$1,299.00 $1,350.00 $1,310.00 $1,400.00 $1,250.00 $1,013.00 $995.00 $970.00 $925.00

$0 $15 $0 $90 $0 $15 $15 $0 $0

$1,299 $1,335 $1,310 $1,310 $1,250 $998 $980 $970 $925

$1.34 $1.14 $1.18 $1.14 $1.26 $0.91 $0.89 $0.81 $0.71

Clays Point Average Effective

2006-2008

62

990

$826.00

$0

$826

$0.83

2010

76

1172

1210

$30

$1,196

$1.03

Property

Averages

Year Built


Three Bedroom Apartment Rents Sorted by Net Rent

Year Built

Units

SF

Market Rent

Utility Adjustment/Month

Net Rent

Net Rent/SF

Brookefield Apartment Homes

2020

91

1750

$1,700

$15

$1,685

$0.96

Renaissance Gardens

2008

59

1800

$1,499

$15

$1,484

$0.82

2014 1995 2006-2008 1998 2007 2008 2006-2008

20 160 62 82 208 44 62

1500 1339 1408 1100 1350 1590 1408

$1,499 $1,460 $1,465 $1,195 $1,125 $1,025 $979

$15 $0 $0 $15 $0 $0 $0

$1,484 $1,460 $1,458 $1,180 $1,125 $1,025 $979

$0.99 $1.09 $1.04 $1.07 $0.83 $0.64 $0.70

2007

91

1,472

$1,327

$15

$1,320

$0.91

Property

College Station Duplexes Vineland Carriage Homes Apartments Clays Point Pro Forma Park Place Apartments Claysville Landing Pin Oak Villas Clays Point Average Effective Averages


S E C T I O N

03

THE FIN


NANCIALS


C L AY ’ S P O I N T E - F I N A N C I A L S

UNIX MIX SUMMARY AV E R A G E E F F E C T I V E UNIT TYPE

NO. OF U N I TS

T E N TA B L E S F

42 Units 20 Units 62 Units

990 SF 1,584 SF 1,182 SF

T OTA L S F

RENT/UNIT

MARKET

RENT/SF

T O TA L R E N T POTENTIAL

RENT/UNIT

$0.84 $0.67 $0.76 SF

$34,720 $21,189 $55,909

$900.00 $1,150.00 $980.65

P RO J E CT E D

RENT/SF

T O TA L R E N T POTENTIAL

RENT/UNIT

RENT/SF

TOTA L R E N T P OT E N T I A L

RENT I N C R E AS E

% RENT I N C R E AS E

$0.91 SF $0.73 SF $0.83 SF

$37,800 $23,000 $60,800

$1,250.00 $1,465.00 $1,319.35

$1.26 SF $0.92 SF $1.12 SF

$52,500 $29,300 $81,800

$423 $406 $418

51.21% 38.28% 46.31%

SUMMARY

Two Bedroom Three Bedroom Totals / Wtd. Averages

41,580 SF $826.67 31,680 SF $1,059.47 73,260 SF $901.77

UNIT DISTRIBUTION

52%

3 Bedroom

Avg. Effective

$1,455

Two Bedroom

2 Bedroom

$1,059

$1,250

$826

48%

UNIT RENTS

Three Bedroom

Pro Forma Projection


C L AY ’ S P O I N T E - F I N A N C I A L S

UNIX MIX BREAKDOWN AV E R A G E E F F E C T I V E NO. OF UNITS

T E N TA B L E S F

TOTA L S F

RENT/UNIT

TWO BEDROOM 2BR/2BA w 1 Car Garage

42 Units

990 SF

41,580 SF

Totals / Wtd. Averages

42 Units

990 SF

20 Units 20 Units

1,584 SF 1,584 SF

UNIT TYPE

MARKET

RENT/SF

T O TA L R E N T POTENTIAL

RENT/UNIT

$826.67

$0.84 SF

$34,720

41,580 SF

$826.67

$0.84 SF

31,680 SF 31,680 SF

$1,059.47 $1,059.47

$0.67 SF $0.67 SF

P RO J E CT E D

RENT/SF

T O TA L R E N T POTENTIAL

RENT/UNIT

RENT/SF

TOTA L R E N T P OT E N T I A L

RENT I N C R E AS E

% RENT I N C R E AS E

$900.00

$0.91 SF

$37,800

$1,250.00

$1.26 SF

$52,500

$423

51.21%

$34,720

$900.00

$0.91 SF

$37,800

$1,250.00

$1.26 SF

$52,500

$423

51.21%

$21,189 $21,189

$1,150.00 $1,150.00

$0.73 SF $0.73 SF

$23,000 $23,000

$1,465.00 $1,465.00

$0.92 SF $0.92 SF

$29,300 $29,300

$406 $406

38.28% 38.28%

THREE BEDROOM 3BR/2.5BA w 2 Car Garage Totals / Wtd. Averages


INCOME EXPENSE

C L AY ’ S P O I N T E - F I N A N C I A L S

INCOME & EXPENSES

CURRENT GROSS POTENTIAL RENT All Units at Market Rent Gain (Loss) to Lease GROSS SCHEDULED RENT Other Income Pet Rent Cable Fee Pet Deposit Application Fees Late Fees Total Other Income GROSS POTENTIAL INCOME Physical Vacancy Bad Debt EFFECTIVE GROSS INCOME NON-CONTROLLABLE Real Estate Taxes 2020 Taxes Paid Adjustment for Sale Total Real Estate Taxes Insurance Utilities Electric Vacant Gas Vacant Water & Sewage Trash Removal Total Utilities Total Non-Controllable CONTROLLABLE Contract Services Landscaping/Grounds Pest Control Total Contract Services Repairs & Maintenance Payroll Payroll Taxes & Benefits General & Administrative Management Fee Cable Replacement & Reserves Total Controllable TOTAL EXPENSES NET OPERATING INCOME

$729,600 RR ($57,960) $671,640 RR $0 $0 $600 $0 $0 $600 $672,240 ($3,000) T3 $0 $669,240 $76,203 Auditor $0 $76,203 $1,218 T12

YEAR 1

% of GPR Per Unit 11,768 7.94% (935) 10,833

0.00% 0.00% 0.09% 0.00% 0.00% 0.09% 0.45% 0.00% 91.61%

0 0 10 0 0 10 10,843 (48) 0 10,794

% of EGI Per Unit 11.39% 1,229 0.00% 0 11.39% 1,229 0.18% 20

$981,600 ($58,896) $922,704

% of GPR

6.00% 0.56% 0.00% 0.07% 0.09% 0.20% 0.93%

Per Unit 15,832 (950) 14,882

$5,208 $0 $620 $868 $1,860 $8,556 $931,260 ($46,135) ($9,227) $875,898

5.00% 1.00% 88.00%

84 0 10 14 30 138 15,020 (744) (149) 14,127

$76,203 $24,588 $100,791 $18,600

% of EGI 8.70% 2.81% 11.51% 2.07%

Per Unit 1,229 397 1,626 300

$912 $543 $1,216 $0 $2,671 $80,092

T12 T12 T12 T12

0.14% 0.08% 0.18% 0.00% 0.40% 11.97%

15 9 20 0 43 1,292

$930 $554 $1,240 $0 $2,724 $122,115

0.11% 0.06% 0.14% 0.00% 0.31% 13.94%

15 9 20 0 44 1,970

$30,711 $6,726 $37,437 $96,756 $18,434 $0 $14,015 $19,467 $30,948 $15,810 $232,867 $312,959 $356,281

T12 T12

4.59% 1.01% 5.59% 14.46% 2.75% 0.00% 2.09% 2.91% 4.62% 2.36% 34.80% 46.76% 53.24%

495 108 604 1,561 297 0 226 314 499 255 3,756 5,048 5,746

$24,800 $4,340 $29,140 $31,000 $49,600 $9,300 $12,400 $43,795 $31,000 $16,126 $222,361 $344,476 $531,421

2.77% 0.48% 3.25% 3.54% 5.66% 1.06% 1.42% 5.00% 3.54% 1.84% 25.39% 39.33% 60.67%

400 70 470 500 800 150 200 706 500 260 3,586 5,556 8,571

T12 T12 T12 T12 T12

Note 1


YEAR 2

$1,011,048 ($20,221) $990,827

% of GPR

2.00% 0.54% 3.75% 0.06% 0.09% 0.19% 4.64%

YEAR 3 Per Unit 16,307 (326) 15,981

$1,041,379 ($20,828) $1,020,552

% of GPR

$5,525 $38,316 $658 $921 $1,973 $47,393 $1,067,945 ($51,028) ($10,206) $1,006,712

5.00% 1.00% 92.00%

89 618 11 15 32 764 17,225 (823) (165) 16,237 Per Unit 1,229 397 1,626 312

2.00%

$5,364 $37,200 $639 $894 $1,916 $46,013 $1,036,840 ($49,541) ($9,908) $977,390

5.00% 1.00% 92.00%

87 600 10 14 31 742 16,723 (799) (160) 15,764

$76,203 $24,588 $100,791 $18,972

% of EGI 7.80% 2.52% 10.31% 1.90%

Per Unit 1,229 397 1,626 306

$76,203 $24,588 $100,791 $19,351

% of EGI 7.80% 2.52% 10.31% 1.94%

$949 $565 $1,265 $0 $2,779 $122,542

0.10% 0.06% 0.13% 0.00% 0.28% 12.54%

15 9 20 0 45 1,976

$968 $576 $1,290 $0 $2,834 $122,977

0.10% 0.06% 0.13% 0.00% 0.29% 12.58%

16 9 21 0 46 1,983

$25,296 $4,427 $29,723 $31,620 $50,592 $9,486 $12,648 $48,870 $31,620 $16,449 $231,007 $353,549 $623,841

2.53% 0.44% 2.97% 3.24% 5.18% 0.97% 1.29% 5.00% 3.24% 1.68%

408 71 479 510 816 153 204 788 510 265 3,726 5,702 10,062

$25,802 $4,515 $30,317 $32,252 $51,604 $9,676 $12,901 $50,336 $32,252 $16,778 $236,116 $359,093 $647,619

2.58% 0.45% 3.03% 3.30% 5.28% 0.99% 1.32% 5.00% 3.30% 1.72% 24.01% 36.74% 66.26%

416 73 489 520 832 156 208 788 520 271 3,785 5,792 10,445

23.64% 36.17% 63.83%

0.54% 3.75% 0.06% 0.09% 0.19% 4.64%

Per Unit 16,796 (336) 16,461

UNDERWRITING NOTES

#

NOTE

1

Replacement & Reserves: added based on market norm of $255 per unit per year


S E C T I O N

04

LOCAL M


MARKET


CLAY’S POINTE

ELIZABETHTOWN, KY Elizabethtown, Kentucky Elizabethtown is a city in Hardin County. The city is centrally located within 44 miles of Louisville to the North and 131 miles of Nashville to the South. The beautiful countryside and rich natural resources convinced many people throughout the years that Elizabethtown was the place to raise their families, earn their living, and love their home. From viewing horseless carriages and sporty automobiles at the Swope’s Cars of Yesteryear Museum to picnicking at Freeman Lake Park, there are plenty of fun things to do in Elizabethtown. The city offers area parks, museums, festivals, events, shop-

ping, and more. Part of what gives Elizabethtown its irresistible charm is a wide array of festivals and events held throughout the year. The Hardin County Museum, part of the official Lincoln Train through Kentucky, presents Hardin County’s history beginning with the Native Americans.


EMPLOYERS IN THE NEWS Major Employers Akebono Brake Elizabethtown Plant HMH Baptist Healthcare System Inc Akebono Elizabethtown STC Cnsolidated Operations LLC Burger King Walmart Gates Corporation Kentucky Highway Dept Dst 4 Akebono Brake Corporation Kensington Manor Care Western Kentucky University

# Employees 1,600 1,470 1,005 750 700 540 450 445 325 309 298 272

Baptist Health care to build new facility near Baptist Health Hardin (Louisville Business First, August 2021).

Ford announces a $5.8bn investment in Kentucky, creating 5,000 new jobs (Louisville Business First, August 2021).

Glendale megasite focus of $410 million legislation (The News-Enterprise, September, 2021).

Canada-based Kruger packaging to create 150 jobs in Elizabethtown (ABC 36 News, May 2021).

Nucor breaks groun on 1.7bn steel mill in Brandenburg, adding 400 new jobs (Lane Report, October 2021).


visit adgmultifamily.com to learn more.


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