Pinnacle Bank - High Point (North University)
Office | 45,991 SqFt
Marketing description
Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer the opportunity to acquire the fee simple Pinnacle Financial Partners located at 1585 North University in High Point, North Carolina (“Property” or “Asset”). This property serves as a regional operations hub for Pinnacle, which is operating on a 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.
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 ±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)
100% occupied by Pinnacle’s bank operations associates
1 mile from High Point University (1 Regional College in South)
Below market office rent of $26.81 PSF (compared to $35.26)
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