Pinnacle Bank - Lexington, NC (E Center St)
Retail | 6.00% CAP | 8,310 SqFt
Marketing description
Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer the opportunity to acquire the fee simple interest in Pinnacle Bank located at 115 East Center St in Lexington, NC (“Property” or “Asset”). Pinnacle is operating on 15-year absolute NNN lease with ±11.8 years of primary lease term remaining, 1.9% annual rent escalations, two, five-year renewal options and zero landlord responsibilities.
NC Broker of Record: Pete Pitroff - NC License #: 163984
Limited Nonresident Commercial Real Estate Broker or Salesperson: Alex Sharrin, Alex Geanakos
Investment highlights
Investment grade tenant with Baa2 stable outlook rating
±11.8 years of primary lease term remaining with 1.9% annual rent escalations
New $57M passenger rail development to catalyze Lexington economy
177 manufacturing companies employing 38,000 people locally
Operates under absolute NNN lease structure with zero landlord responsibilities
Merger with Synovus creates largest bank holding company in Georgia and largest bank in Tennessee
Siemens Mobility's contribution to an estimated $1.6 billion economic boost over 12 years
Population of 40,000 within a five-mile radius demonstrating 7%+ growth since 2010
Signalized intersection with direct accessibility to 16,000+ VPD
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