Regions Bank Ground Lease

Highlights:

• RELOCATION BRANCH: BUILT IN 2020 The site is a newly constructed, dual drive-thru Regions Bank Branch which relocated in 2020 from directly across the street.
• ABSOLUTE NNN 15-YEAR GROUND LEASE: The tenant pays for CAM, Taxes, and Insurance and maintains all aspects of the premises. There are NO LANDLORD RESPONSIBILITIES whatsoever.
• 10% Rental Increases Every 5 Years.
• SIGNALIZED, HARD CORNER INTERSECTION | RETAIL CORRIDOR: Regions Bank is strategically located at the signalized, hard corner intersection of W. Main Street and US Highway 41, which averages a combined 58,400 vehicles per day. The property is positioned across from a newly developed Publix-anchored shopping center with nearby tenants including Panera Bread, Dunkin’, CVS, Chipotle, Chili’s, AutoZone, 7-Eleven, and more.
• CORPORATELY GUARANTEED | INVESTMENT GRADE TENANT: The lease is corporately guaranteed by Regions Bank, an Investment Grade (S&P: A-), nationally recognized Tenant with over 1,300 offices in 15 states

Description:

RDO Investments is pleased to present 809 W. Main Street, a 3,485 square foot freestanding Regions Bank Ground Lease located in the heart of Inverness, Florida. The Regions Bank in Inverness provides the rare opportunity to acquire a recently constructed, fee simple Ground interest in a class “A” retail banking location.

The building was constructed in 2020 and features a large 1.07-acre lot. The property was a relocation branch constructed by the tenant (who owns the improvements). The site is located off of West Main Street, the main retail thoroughfare which runs throughout Inverness. There are over 58,400 vehicles that pass in front of the site each day. The property has excellent visibility from West Main Street and has a direct curb cub, which shares cross-access with Chipotle, Mattress Firm, Jimmy Johns, and AutoZone.

Regions Bank signed an original 15 year lease which commenced in 2020. The lease calls for 10% increases every 5 years and throughout the option periods. The lease is Absolute NNN with no landlord responsibilities whatsoever.

Area retailers include Publix, Culvers, Jersey Mikes, Panera Bread, Take 5, CVS, Advance Auto Parts, Dunkin, Wendy’s, and AT&T. The site is located directly to the west of HCA Florida Hospital and Citrus High School

Documents: