Covington, GA - Fifth Third Bank

Description:

• Brand new 20-year lease with 4 (5-year) options to extend, demonstrating their long-term commitment to the site
• The tenant, Fifth Third Bank, is an investment grade tenant (S&P: A-) with nearly 1,100 locations
• The lease features 10% rental increases every 5 years and at the beginning of each option period, boosting NOI and hedging against inflation

• The subject property is located directly across from a Walmart Supercenter–anchored shopping center featuring several national and credit tenants, including Popeyes, Zaxby’s, Subway, and Wendy’s
• The site is also adjacent to Salem Road Station, a Publix-anchored shopping center featuring tenants such as Subway and The UPS Store
• Strong tenant synergy promotes crossover shopping to the subject property

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Listing ID: a28TP000002m1dNYAQ