Pinnacle Bank - Burlington, NC
Retail | 6.00% CAP | 9,616 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 3239 South Church St, Burlington, 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
Operating on an absolute NNN lease with ±11.8 years of lease term remaining and 1.9% annual rent escalations
Pinnacle Financial Partners is the 2nd largest bank holding company in TN with an investment grade rating (Moody’s: Baa2)
Dominant market position as the only Pinnacle location in Alamance County, holding an impressive $143M in deposits
Strategically positioned near high-traffic retail corridor including Holly Hill Mall (2.1M visitors) and the #2 most visited Lowe’s in NC
Located in a high-growth submarket with a 35% population increase since 2010 and excellent visibility to 24,500 VPD
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