Truist Bank | 40 Yr Operating History | Jacksonville, FL

Highlights:

• Truist Bank | Investment Grade Tenant | Rated "A" by S&P with a stable outlook.
• Absolute NNN lease with zero landlord operating or maintenance responsibilities.
• Nearly 40 Years of Occupancy | Well-Below-Market Rent
• Signalized hard-corner outparcel to a Target and Home Depot anchored shopping center.
• Direct access from Monument Road (24,500 VPD), immediately off Arlington Expressway (49,500 VPD) and Atlantic Boulevard (52,000 VPD).
• Dense Daytime Population: More than 224,000 residents, 89,000 households, and 99,000 employees within five miles.
• Established retail location with strong visibility, convenient access, and surrounding national retailers.
• Annual Increases of 1.5% throughout the current term and first two renewal periods.
• Fair-market-value rent resets beginning in 2038 provide an opportunity to capitalize on the property's prime location and below-market rent.
• Fee simple ownership of both the 3,450-square-foot building and 1.06-acre parcel.
• Existing drive-thru improvements, 37 parking spaces, and access from Monument Road and Regency Square Boulevard.
• CCG-1 zoning provides flexibility for future reuse or redevelopment, subject to applicable approvals and restrictions.
• Nearby Nexus at Regency encompasses an 89.7-acre redevelopment planned for multifamily, medical, entertainment, hotel, office, and retail uses.
• Planned redevelopment would introduce additional residents, businesses, and visitors, supporting trade-area demand and long-term property value.
• Current annual rent of just $128,183—approximately $37.15 per square foot—supports tenant retention and significant long-term rental upside.

Description:

Florida Broker of Record Scott DeYoung FL BK 3421401

Faris Lee Investments is pleased to present the opportunity to acquire a fee simple Truist Bank property on a signalized hard-corner outparcel to a Target and Home Depot anchored shopping center in Jacksonville, Florida. Truist and predecessor SunTrust have operated at the property since 1987, preserving a well-below-market rent basis that supports tenant retention and significant long-term rental upside. The corporate absolute NNN lease offers zero landlord responsibilities, 1.5% annual increases through the current term and first two renewal periods, and investment-grade Truist Bank credit (S&P: “A”).
The 3,450-square-foot drive-thru bank occupies 1.13 acres with direct access from Monument Road (24,500 VPD), immediately off Arlington Expressway (49,500 VPD) and Atlantic Boulevard (52,000 VPD). The dense five-mile trade area includes more than 224,000 residents, 89,000 households, and 99,000 employees. The nearby 89.7-acre Nexus at Regency redevelopment is planned for multifamily, medical, entertainment, hotel, office, and retail uses, adding demand drivers and supporting long-term property value.

Current annual rent of just $128,183 combines favorable occupancy costs with valuable land and building ownership. The lease extends through 2029, with six renewal options potentially extending occupancy through 2057 and fair-market-value rent resets beginning in 2038.

Signalized hard-corner outparcel to a Target and Home Depot anchored shopping center in Jacksonville's established Arlington/Regency submarket.

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