Confidential Executive Summary Executive Summary
CONFIDENTIAL EXECUTIVE SUMMARY EXECUTIVE SUMMARY HFF is pleased to present Novus Odenton, the 244-unit, best-in-class luxury apartment community in Odenton, Maryland, minutes away from Fort Meade. The Property features an unrivaled combination of trophy amenities, finishes, structured parking and immediate access to Fort Meade, the state of Maryland’s largest economic driver and #1 employer. As headquarters of the NSA, the US Cyber Command and other tech based defense agencies, Fort Meade has become the major hub of defense spending. Nearly 75% of the residents spend at least a portion of their week at the base. The large cohort of maximum security clearance, high wage tech jobs has bolstered area demographics over the past decade. The average household income at Novus Odenton is $208,391. The result is a well educated, wealthy renter pool that was deprived of highly amenitized apartment options until the delivery of Novus Odenton in 2015. The ideal luxury location, less than a mile to the base, proximate to MARC train (30 minutes to DC, 37 minutes to Baltimore) and vehicular access to Annapolis, Baltimore or DC make this an optimal commuting location. Novus Odenton has established a permanent market advantage as the best rental option in the submarket proven by its market leading rents, strong rent growth, unique features, thoughtful amenities, over 20 units per month lease up amid new deliveries, and 70% renewals with no near term oncoming supply. 2 FORT MEADE HIGHLIGHTS: Over 55 K Employees inin OverOver • Employer to over 55,000 in over 11 million square 11 MM SF ofof OfficeOffice feet of office space on more than 5,000 acres.
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