Fifth Third Bank - Abs NNN Ground Lease - Recent Extension
10½ Years Remaining | 6.0% CAP | 3,833 SqFt
Marketing description
Fifth Third Bank sits on a primary retail corridor with other national retailers close to the site including Home Depot, Panda Express, Walgreens, McDonalds, AutoZone, Sherwin Williams, Panera, Aldi, and the massive redevelopment of Spring Hill Mall. National credit tenant Fifth Third Bank has an investment grade rating (S&P rated A-), and with its recent merger with Comerica Bank it is now the 9th largest bank in the United States. The property features an Absolute NNN ground lease, drive-thru service, and a recently extended lease (10½ years remaining).
Investment highlights
"A-" S&P Investment Grade Credit
Massive redevelopment of Spring Hill Mall across the street
Huge FDIC reported deposits - over $135 million at this location
Recent 10-year lease extension
Absolute NNN ground lease w/10% increases every 5 years
9th largest bank in the United States w/Comerica merger
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