Peachtree City, GA - Truist

103 City Circle, Peachtree City, GA

$3,950,000

Price

5.75%

Cap Rate

$227,339

NOI

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Overview
Cap Rate
5.75%
NOI
$227,339
Building Size
7,166 sqft
Lot Area
1.6 acres
Occupancy
100%
Year Built
1997
Description

• The tenant, Truist Bank, has 5+ years remaining on their current lease
• The lease is signed Truist’s corporate entity, an investment grade tenant (S&P: A-) that features 1.50% annual rental increases
• Headquartered in Charlotte, North Carolina, Truist is a top 10 U.S. commercial bank with total assets of $543B as of September 30, 2023
• Truist recently renewed the lease for an additional 12 years in December of 2017 (commenced on January 1, 2018), exercising 1 (10-Year) option and 1 (2-Year) option period - the lease now features 1 (3-Year) option to extend and if exercised an additional 5 (5-Year) option periods exists

• Truist Bank is strategically positioned off the signalized intersection of State Highway 54 and State Highway 74 averaging a combined 78,900 VPD
• State Highway 54 is a main retail thoroughfare serving Peachtree City
• This location is an outparcel to The Avenue Peachtree City, a 18.70 AC lifestyle center that features 163,000+ SF of retail space and notable tenants such as Sephora, Moe’s Southwest Grill, American Eagle, and more
• The trade area features an array of big box retailers such as Walmart Supercenter, The Home Depot, Best Buy, T.J. Maxx, Homegoods, and more
• The adjacent Walmart Supercenter ranks in the top 73% of all GA locations
• The site is equipped with four drive-thru lanes, maximizing efficiency and productivity

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Listing ID: a28TP0000007eK5YAI
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