Fifth Third Bank Ground Lease | Affluent Charleston Site
20-Year Abs NNN Ground lease | Outparcel to Retail Center
Marketing description
The subject Fifth Third Bank occupies a premier outparcel location within a newly developed retail center along Dorchester Road, one of the most heavily traveled commercial corridors in the Charleston metropolitan area. Situated within the affluent and rapidly growing North Charleston submarket, the property benefits from exceptional visibility, convenient access, and strong consumer traffic generated by surrounding residential communities, retail destinations, and employment centers. As an outparcel to a modern retail development, Fifth Third Bank is well-positioned to capitalize on cross-shopping activity and daily visits from area residents and businesses, reinforcing its presence within one of South Carolina's most dynamic economic markets.
The property is strategically located near several of the region's largest industrial employers, including the Bosch Charleston Plant, which employs approximately 1,800 workers, the Mercedes-Benz Vans Charleston Assembly Plant, which employs approximately 1,700 workers, and Boeing's North Charleston Dreamliner campus, which employs over 8,000 workers across its South Carolina facilities. These major employment centers generate substantial daytime population and contribute to the area's strong economic foundation, supporting demand for consumer banking services, business banking relationships, and wealth management solutions. The concentration of skilled labor and high-quality employment opportunities has also fueled continued residential growth throughout the surrounding trade area.
Additionally, the Charleston market continues to attract significant corporate investment, population growth, and economic development, making it one of the Southeast's most desirable locations for both businesses and residents. The subject property's location at the intersection of dense residential neighborhoods, expanding retail development, and major employment hubs positions it to benefit from long-term demographic and economic tailwinds. This combination of strong consumer fundamentals, affluent households, and proximity to key industrial drivers creates an ideal environment for Fifth Third Bank's continued growth and customer acquisition.
Investment highlights
- 20-year absolute NNN ground lease to Fifth Third Bank, an investment-grade tenant with over 1,100 locations across 11 states (S&P: A- | Moody's: A1).
- 10% rental increases every five (5) years in initial term and three (3) option periods of five (5) years each, ensuring consistent income growth.
- Tenant handles all taxes, insurance, and maintenance, including roof, structure, and parking lot, ideal for both out-of-area or local investors.
- Fifth Third Bank saw continued growth in key areas in 2025, including strong household and Southeast regional deposit expansion, approximately 13% year-over-year growth in Wealth and Asset Management revenue driven by 16% growth in assets under management, and roughly 8% growth in commercial payments revenue, supported by continued momentum in its Newline embedded payments platform.
- Fifth Third Bank is continuing to accelerate its expansion in the Southeast, with a goal of reaching approximately 450 branches in the region by the end of 2026.
- Direct access and visibility on Dorchester Road, a heavily trafficked corridor leading to downtown Charleston with daily volumes exceeding 47,000 vehicles.
- Regional connectivity with direct access to Interstates 26 and 526 to the east, combining for more than 138,000 vehicles per day and providing strong commuter-driven exposure.
- Outparcel to a national tenant anchored retail center featuring tenants including HomeGoods, Ulta, Ross, Five Below, PetSmart, Lidl, and First Watch, creating strong synergistic crossover retail traffic.
- Surrounded by key employment and institutional demand drivers, including the Boeing Company's North Charleston Dreamliner campus (8,000+ employees), Mercedes-Benz Vans Assembly Plant (1,700 employees) and Bosch Charleston (1,500 employees).
- Draws from a strong residential base of 120,210 residents within five miles, reflecting robust 31% population growth since 2010.
- High average household incomes, including a 1-mile AHHI exceeding $120,000.
- Projected population and income growth across the surrounding trade area within 1-, 3-, and 5-mile radii over the next five years is expected to support continued demand growth for Fifth Third Bank and the broader North Charleston market.
- Main Charleston location, positioned approximately 15 miles north of Downtown Charleston.
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