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PNC Bank, Stockbridge, GA

PNC Bank

GA, USA

Price $1,946,000
Cap Rate
NOI
Lease Term 3 Years
Lease Type Net, with Tenant Responsible for All Taxes, Insurance, and Maintenance, Excluding Roof, Structure and Parking Lot
Rental Increases Fair Market Value Rental Increases in Option Periods
Year Built 2003
Building Size 4,128 SF
Lot Size .97 Acres (42,253 SF)
Status Sold
Lead Broker Information Vincent Aicale
Executive Director
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Ryan Forsyth
Executive Director
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Michael T. Yuras, CCIM
Executive Managing Director
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Scott Crowle
Executive Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Investment Highlights

NET LEASE TO PNC BANK
» Net lease with two (2) five-year option periods remaining
» PNC Bank has exercised its first option and has a long-standing history at this location
» PNC National Bank (NYSE: “PNC”) is rated “A” by S&P
» PNC reports a full year 2019 net income of $5.4 billion

HIGH-VISIBILITY LOCATION IN DENSELY POPULATED, AFFLUENT, AND GROWING GEORGIA MARKET
» Located along Eagles Landing Parkway, a major East-West thoroughfare traversing the entirety of Stockbridge (37,400 AADT)
» 93,376 residents within a five-mile radius of the property
» Beneficial proximity to Interstate 75 (170,000 AADT) and U.S. Route 23 (17,800 AADT), increasing traffic to the location
» Supported by an affluent customer base, with an average annual household income of $94,450 within a three-mile radius of the site
» Projected 10 percent average annual household income increase within a five-mile radius of the site in the next five years, poising Stockbridge and PNC Bank for significant concurrent growth

CENTRAL LOCATION NEAR LARGE EMPLOYERS, RETAILERS, AND COMMUNITY HUBS
» Outparcel to the Publix-anchored Villages at Eagles Landing shopping mall, promoting significant crossover shopping to the site
» Immediately adjacent to the largest employer in Stockbridge, Piedmont Henry Hospital (215 beds, 1,800 employees)
» Surrounded by several well-established national retailers, including Walgreens, Starbucks, KFC, Jersey Mike’s, Little Caesars Pizza, and many more
» Neighbored by Eagles Landing Country Club, which offers golf, tennis, swimming, dining, fitness, and more
» Gateway to Downtown Atlanta, the ninth-largest metropolitan area in the United States


Property Description

SOLD

The property has a high-visibility location along Country Club Drive, just off of Eagles Landing Parkway, a major East-West thoroughfare traversing the entirety of Stockbridge, with access to 37,400 vehicles per day in front of the site. The property also benefits from its proximity to Interstate 75 (170,000 AADT) and U.S. Route 23 (17,800 AADT), significantly increasing traffic to the site. The location resides in a densely populated area, with 93,376 residents living within a five-mile radius of the property. The location is also supported by an affluent customer base, with an average annual household income of $94,450 within a three-mile radius of the site. The location is primed to grow along with the surrounding area, with a projected 10 percent average annual household income increase within five miles of the site in the next five years.

The site has been strategically placed as an outparcel to the Publix-anchored Villages at Eagles Landing shopping mall, promoting significant crossover shopping to the site. Traffic to the site is also increased by its proximity immediately adjacent to Stockbridge’s largest employer, Piedmont Henry Hospital (215 beds, 1,800 employees). The site is surrounded by several well-established local and national retailers, including Walgreens, Starbucks, KFC, Jersey Mike’s, Little Caesars Pizza, and many more. The location is neighbored by Eagles Landing Country Club, which offers golf, tennis, swimming, dining, fitness, and more. The site also serves as a common gateway to Downtown Atlanta seven miles away, the ninth-largest metropolitan area in the United States.

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