Pinnacle Bank - Easley, SC
Retail | 6.00% CAP | 10,942 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 6602 Calhoun Memorial Highway in Easley, South Carolina (“Property” or “Asset”). Pinnacle is operating on 15-year absolute NNN lease with ±12 years of primary lease term remaining, 1.9% annual rent escalations, two, five-year renewal options and zero landlord responsibilities.
This unique opportunity allows investors the ability to acquire long-term passive income from an investment grade bank tenant with a significant deposit base from its local community.
Investment highlights
Operating on an absolute NNN lease with ±12 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)
Exclusive market position as the only Pinnacle Bank location in Salem, holding a solid deposit base of $63M
Prime retail location adjacent to Centerpoint Shopping Center (1.6M annual visits) and near the #1 most visited neighborhood center within a 15-mile radius
Situated in a thriving submarket with 29% population growth, affluent $91K average household incomes, and excellent visibility to 36,400 VPD
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