Pinnacle Bank - Raleigh, NC
72,930 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 3515 Glenwood Avenue, North Carolina (“Property” or “Asset”). Pinnacle is operating on 15-year absolute NNN lease with ±12 years of primary lease term remaining, 1.0% 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 retail and commercial offices
Affluent residential base with $225K in average household income within 1-mile radius
One of the fastest growing MSAs in the US, with a 180% population increase
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