Pinnacle Bank - Murfreesboro, TN (College St)
Retail | 47,756 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 214 W. College Street in Murfreesboro, Tennessee (“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. The Asset is ~100% occupied with Trust Sales & Operations, Insurance Sales & Operations, Investment Sales, Commercial Bankers and Support Staff, Compliance/Risk, Accounting.
TN Broker of Record: Richard Reid – TN License #: 321591
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 largest bank in TN & largest bank holding company in GA with an investment grade rating (Moody’s: Baa2)
College town location adjacent to MTSU with 20,000+ students
Below market rent of $23.06 PSF (compared to $28.36 PSF)
100% occupied by Pinnacle operations, bankers & accounting
In the heart of downtown Murfreesboro, Tennessee’s fastest-growing major city, with accessibility to 83,000 VPD
Within dense retail corridor with 12.8M+ annual visitors
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