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Regions Bank Ground Lease, Spring, TX

Regions Bank Ground Lease

Price $3,334,000
Cap Rate
NOI
Lease Term 20 Years
Lease Type Absolute NNN Ground Lease, With Tenant Responsible For All Taxes, Insurance, Utilities, And Maintenance, Including Roof, Foundation, And Structure
Rental Increases 10% Rental Increases Every 5 Years
Year Built 2018
Building Size 4,300 SF
Lot Size 1.02 acres (44,431SF)
Status Sold
Lead Broker Information Michael T. Yuras, CCIM
Cushman & Wakefield
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

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

Vincent Aicale
Cushman & Wakefield
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Ryan Forsyth
Cushman & Wakefield
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Investment Highlights

20-YEAR ABSOLUTE NNN GROUND LEASE TO CORPORATE TENANT
» Regions Banks is an investment grade tenant, with an “A-” rating from Standard & Poor’s
» No landlord responsibilities, providing an ideal investment for local and out-of-area investors
» 10% rental increases every five years, providing a hedge against inflation

HIGH-TRAFFIC LOCATION IN GROWING RETAIL AND COMMERCIAL CORRIDOR
» 24,841 AADT Directly in Front of the Property and Immediate Access to Grand Parkway with 61,554 AADT
» Located at the entrance of the Gleannloch Farms masterplanned community with 3,200 existing homes and 384 Class A apartments under construction
» Anchored by a newly constructed HEB directly across from the property
» Located within the 10-acre Gleannloch Crossing Retail Center with numerous national tenants including Taco Bell, Popeye’s, McDonald’s, Sherwin Williams, AT&T, Subway, MOD Pizza, UPS, and more tenants on the way
» Close proximity to Gleannloch Forest Crossing, a new development featuring 384 Class A apartments and retail

EXCELLENT LOCATION IN RAPIDLY GROWING SUBMARKET WITH STRONG DEMOGRAPHICS
» Between 2010 and 2019, the Tomball/Spring submarket experienced a historic annual growth rate of 49%
» Average household income of $153,735 within a one-mile radius of the property
» 198,811 residents live within a five-mile radius



Property Description

SOLD
The property is conveniently located just off of Grand Parkway (61,554 AADT) on Champions Forest Drive (24,841 AADT). It is also directly across from a brand new HEB, and is within Gleannloch Crossing, a 9-acre retail center, with with numerous national tenants including but not limited to Taco Bell, Popeye’s, McDonalds, Sherwin Williams, AT&T, Subway, ModPizza, and UPS. This Regions Bank is situated at the entrance of the Gleannloch Farms master-planned community with 3,705 existing homes and 384 Class A apartments under construction. The property is also directly adjacent to Gleannloch Forest, a 7-acre retail center under construction.

The property is located next in Tomball/Spring trade area. Between 2010 and 2019, the Tomball/Spring submarket which has experienced a historic annual growth rate of 49% between 2010 and 2019. 21,186 homes are within a three-mile radius of the property. These residential developments are highlighted by Gleannloch Farms with 3,705 homes, and Northpointe Homes, with 3,879 homes. The Spring/Tomball area’s status as an emerging economic center has attracted wealthy professionals to the region, making the submarket one of the richest in Houston. The average household income within a one-mile radius of the property is $153,735, and 198,811 residents with an average household income of $123,534 live within a five-mile radius.

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