NET LEASED INVESTMENT OFFERING

PNC Bank
210 Jonesboro Road
McDonough, Georgia 30253 (Atlanta MSA)
CONFIDENTIAL OFFERING M...
TABLE OF CONTENTS
NET LEASED INVESTMENT OFFERING

TABLE OF CONTENTS
1

Confidentiality & Disclaimer

2

Executive Summary
...
CONFIDENTIALITY & DISCLAIMER
NET LEASED INVESTMENT OFFERING

CONFIDENTIALITY & DISCLAIMER

The information contained in th...
EXECUTIVE SUMMARY
NET LEASED INVESTMENT OFFERING

EXECUTIVE SUMMARY
The Boulder Group is pleased to exclusively market for...
PROPERTY OVERVIEW
NET LEASED INVESTMENT OFFERING

PROPERTY OVERVIEW

Price:

$2,343,877

Cap Rate:

8.15%

Net Operating I...
AERIAL
NET LEASED INVESTMENT OFFERING

AERIAL
Tow
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-75

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www.bouldergroup.com
SITE PLAN
NET LEASED INVESTMENT OFFERING

SITE PLAN

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n
Jo
ad

Ro

ay

w

k
ar

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www.boulderg...
MAPS
NET LEASED INVESTMENT OFFERING

MAPS

SITE

SITE

www.bouldergroup.com
TENANT PROFILE
NET LEASED INVESTMENT OFFERING

TENANT PROFILE
PNC Financial Services is a diversified financial services c...
DEMOGRAPHIC COMPARISON REPORT
NET LEASED INVESTMENT OFFERING

DEMOGRAPHIC COMPARISON REPORT
Population

3-mile

5-mile

7-...
LOCATION OVERVIEW
NET LEASED INVESTMENT OFFERING

LOCATION OVERVIEW
McDonough is the county seat of Henry County, Georgia....
CONTACT INFORMATION
NET LEASED INVESTMENT OFFERING

CONTACT INFORMATION

666 Dundee Road | Suite 1801
Northbrook, IL 60062...
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Triple Net Leased PNC Bank for sale

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Transcript of "Triple Net Leased PNC Bank for sale"

  1. 1. NET LEASED INVESTMENT OFFERING PNC Bank 210 Jonesboro Road McDonough, Georgia 30253 (Atlanta MSA) CONFIDENTIAL OFFERING MEMORANDUM www.bouldergroup.com
  2. 2. TABLE OF CONTENTS NET LEASED INVESTMENT OFFERING TABLE OF CONTENTS 1 Confidentiality & Disclaimer 2 Executive Summary 3 Property Overview 4 Aerial 5 Site Plan 6 Maps 7 Tenant Profile 9 Demographic Comparison Report 10 Location Overview 11 Contact Information www.bouldergroup.com
  3. 3. CONFIDENTIALITY & DISCLAIMER NET LEASED INVESTMENT OFFERING CONFIDENTIALITY & DISCLAIMER The information contained in the following Offering Memorandum is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from The Boulder Group and should not be made available to any other person or entity without the written consent of The Boulder Group. This Offering Memorandum has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. The Boulder Group has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB's or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in this Offering Memorandum has been obtained from sources we believe to be reliable; however, The Boulder Group has not verified, and will not verify, any of the information contained herein, nor has The Boulder Group conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein. www.bouldergroup.com
  4. 4. EXECUTIVE SUMMARY NET LEASED INVESTMENT OFFERING EXECUTIVE SUMMARY The Boulder Group is pleased to exclusively market for sale a single tenant PNC Bank property located approximately thirty miles southwest of downtown Atlanta. The 4,128 square foot building was constructed in 2003 in McDonough, Georgia. The subject property is located on the northwest corner of the signalized intersection of Jonesboro Road and McDonough Parkway. Jonesboro Road is the primary east-west thoroughfare and has a full access interchange with Interstate 75 less than 2.5 miles away. Interstate 75 experiences traffic volumes in excess of 120,000 vehicles per day. The immediate area is surrounded by many national retailers such as Kroger, Walgreens, Chase Bank and Chick-fil-a. In March 2012, PNC Bank purchased RBC Bank for $3.6 billion as a point of entry into the Southeast. PNC Bank targeted the Atlanta market as the place to establish their dominance in the region. PNC Bank assumed the obligations of the original lease that was signed by RBC Bank. The lease expires March 2019 and there are three 5-year options. PNC Bank has over 2,800 locations in 17 states and is publicly traded on the New York Stock Exchange (PNC). PNC is an investment grade rated company with a Standard & Poor’s rating of A-. INVESTMENT HIGHLIGHTS Located within the Atlanta MSA Investment grade tenant (S&P: A-) Located on the hard corner of a signalized intersection Minimal landlord responsibilities Positioned along the primary east-west thoroughfare in the area Located less than 2.5 miles from Interstate 75 (120,000 VPD) Across the street from a Kroger anchored shopping center www.bouldergroup.com
  5. 5. PROPERTY OVERVIEW NET LEASED INVESTMENT OFFERING PROPERTY OVERVIEW Price: $2,343,877 Cap Rate: 8.15% Net Operating Income: $191,026 Renewal Options: Three 5-Year at FMV Lease Commencement Date: November 23, 2003 Lease Expiration Date: March 31, 2019 Tenant: PNC Bank Credit Rating: A- (S&P) Year Built 2003 Lease Type: NN* Building Size: 4,128 SF Land Size: 47,480 SF *Landlord is only responsible for capital improvements to structure, parking, and the roof
  6. 6. AERIAL NET LEASED INVESTMENT OFFERING AERIAL Tow ard sI -75 12 0,0 00 VP D www.bouldergroup.com
  7. 7. SITE PLAN NET LEASED INVESTMENT OFFERING SITE PLAN ro bo es n Jo ad Ro ay w k ar h ug no o cD M www.bouldergroup.com P
  8. 8. MAPS NET LEASED INVESTMENT OFFERING MAPS SITE SITE www.bouldergroup.com
  9. 9. TENANT PROFILE NET LEASED INVESTMENT OFFERING TENANT PROFILE PNC Financial Services is a diversified financial services company in the United States. PNC is engaged in retail banking, corporate and institutional banking, asset management, and residential mortgage banking. PNC provides deposit, lending, cash management, and investment services to more than 6 million consumer and small business customers across 19 states and the District of Columbia. PNC is the fifth largest bank in the United States (total branches) with more than 2,700 branches and 7,400 ATM machines. PNC is publicly traded on the New York Stock Exchange as PNC and has a market capitalization in excess of $39 billion. Website: Credit: Stock Symbol: Number of Locations: Market Capitalization: www.pnc.com A- (S&P) PNC (NYSE) 2,700+ $39 billion www.bouldergroup.com
  10. 10. DEMOGRAPHIC COMPARISON REPORT NET LEASED INVESTMENT OFFERING DEMOGRAPHIC COMPARISON REPORT Population 3-mile 5-mile 7-mile Total Population 37,574 69,521 114,368 Total Households 13,431 24,284 40,181 Median Household Income $50,872 $59,534 $60,665 Average Household Income $63,858 $74,524 $75,814 Income www.bouldergroup.com
  11. 11. LOCATION OVERVIEW NET LEASED INVESTMENT OFFERING LOCATION OVERVIEW McDonough is the county seat of Henry County, Georgia. According to the 2010 census, McDonough had a population of 22,084 but with the inclusion of the unincorporated surrounding neighborhoods, the population is in excess of 30,000. The population of Henry County grew 70.9% from the 2000 census to the 2010 census, making it the 8th most populous county in Georgia and the 10th fastest growing county in the country. Atlanta is the cultural and economic center of the Atlanta metropolitan area, which is home to 5,268,860 people and is the ninth largest metropolitan area in the U.S. Today, the it is a major business city and the primary transportation hub of the Southeastern United States (via highway, railroad, and air), with Hartsfield–Jackson Atlanta International Airport being the world's busiest airport by passenger traffic and number of landings and take-offs since 2005, serving 89 million passengers per year. The World Cities Study Group at Loughborough University rated Atlanta as a “Global City.” With a gross domestic product of US$270 billion, Atlanta's economy ranks 15th among world cities and sixth in the nation. Atlanta contains the country's fourth largest concentration of Fortune 500 companies, and more than 75 percent of Fortune 1000 companies have business operations in the metropolitan area. Metro Atlanta is the world headquarters of corporations such as The Coca-Cola Company, Turner Broadcasting, The Home Depot, AT&T Mobility, UPS, and Delta Air Lines. www.atlantaga.gov www.bouldergroup.com
  12. 12. CONTACT INFORMATION NET LEASED INVESTMENT OFFERING CONTACT INFORMATION 666 Dundee Road | Suite 1801 Northbrook, IL 60062 Randy Blankstein President 847.562.0003 rblank@bouldergroup.com Jimmy Goodman Partner 847.562.8500 jimmy@bouldergroup.com www.bouldergroup.com
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