Property History
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Marketing Description
Marcus & Millichap is pleased to present the exclusive listing for a SunTrust Bank located at 202 South Salem Street in Apex, North Carolina. The site constructed in 1935, consists of roughly 3,835 rentable square feet of building space on estimated 0.5 acre parcel of land.
SunTrust Bank is subject to an absolute triple-net (NNN) lease. The annual rent is $117,453. SunTrust Bank executed two (2) renewal options early & extended the term of the lease by 12 years. There is One (1), Three (3)-Year and Five (5), Five (5)-Year Options.
SunTrust Bank is subject to an absolute triple-net (NNN) lease. The annual rent is $117,453. SunTrust Bank executed two (2) renewal options early & extended the term of the lease by 12 years. There is One (1), Three (3)-Year and Five (5), Five (5)-Year Options.
Investment Highlights
- Absolute Triple Net (NNN) Lease | ~9 Years Remaining
- Attractive 1.5% Annual Rental Increases
- Investment Grade Tenant | A- Rating (S&P)
- One (1), Three (3)-Year; Five (5), Five (5)-Year Tenant Renewal Options
- Corporate Tenant | Corporate Guarantee
- SunTrust Bank Executed Two (2) Renewal Options Early & Extended the Term of the Lease by 12 Years
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Contacts
Listing removed on
BY:
Glen Kunofsky PRO
•••.•••.4222
•••••fsky@••••••••.com
Listing removed on
BY:
Alex Marietto PRO
•••.•••.4185
•••••etto@••••••••.com
Listing removed on
BY:
Kyle Karsian PRO
•••.•••.4271
••••sian@••••••••.com
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