540 FOLLY RD Charleston SC 29412-3002

• Brand New 15-Year Absolute NNN Lease
• Corporate Guaranty
• $185,000,000 in deposits for 2020

SRS National Net Lease Group is pleased to present the opportunity to acquire the fee simple interest (land & building) in a single tenant, absolute NNN leased Bank of America with 4 lane drive-thru, investment property located in Charleston, SC. According to the FDIC, this Bank of America location has the highest total deposits in the James Island corridor of Charleston (#1 of 14 bank locations). Bank of America, an S&P BBB+ investment grade tenant, is also the #2 financial institution (28 total) within Charleston County. This location has strong deposits with $165M as of June 30, 2019. The tenant, Bank of America, has approximately 6 years remaining on their initial term with 16 (5-year) options. The lease features annual 3% rental increases throughout the initial term, and is absolute NNN with zero landlord responsibilities.

The subject site is located at the hard corner intersection of Folly Road and Martello Drive (combined 23,700 VPD). Folly Road is the major north/south thoroughfare through the James Island corridor of Charleston with national/credit retailers lining both sides of the road. The subject property is also adjacent to the heavily trafficked James Island Expressway (28,800 VPD), the main highway connecting downtown Charleston to James Island. The bank is an outparcel to a Publix anchored shopping center with multiple points of ingress/egress and excellent visibility with a large monument sign for a corner site. The bank serves approximately 116,000 residents with an average household income of $75,000 located within a 5-mile radius. Additionally over 118,000 employees support the trade area.

• 6 Years Remaining on Initial Term | S&P BBB+ | Rare Annual Rental Increases
• Absolute NNN Lease | Fee Simple Land & Building Ownership | No Landlord Responsibilities
• Strong Branch Deposits | #1 Local Branch Deposits | Large ~19% Deposit Increase from 2016
• Outparcel To Publix Market | Dense Retail Corridor | Increases Consumer Draw
• Located At Hard Corner Intersection | Excellent Visibility And Access | Irreplaceable Location With 4 Lane Drive Thru
• Located Near Numerous Residential Apartment Complexes | Close Proximity To Country Club Of Charleston Golf Course
• Affluent Demographics In 5-Mile Trade Area
• Ideal Right Size Building Footprint On Large 1.11 Acre Parcel