Melbourne, FL - Truist

Description:

• 8.7 years of remaining lease term with 5 (5-year) options to extend
• 1.50% annual rental increases until the lease expiration date (Dec. 31, 2032), option one is fixed at 1.50% annually & options 2-5 are at FMV annually
• In 2017 Truist executed an early lease extension through two renewal periods, i) Jan. 1, 2018 - Dec. 31, 2027 & ii) Jan. 1, 2028 - Dec. 31, 2032
• SunTrust Bank (S&P: A-) corporate lease signature, a top ten commercial bank in the united states with over 2,100 locations under operation
• The site is equipped with 4 drive-thru windows and a seperate drive up ATM
• Generating more than $137M+ in deposits as of June, 2023 (FDIC 9)

• Strategically positioned as an outparcel to the newly renovated Publix Super Market at Lake Washington Crossing, owned an managed by a reputable firm
• Publix re-opened in May of 2023, after injecting roughly $6.5MM toward a modern rebuild-remodel construction campaign (Flordia Today)
• Adjacent to the Truist Bank is Lake Washington Square, an LA Fitness anchored shopping mall helping to boost the immediate trade area foot & vehical traffic
• National credit tenants in the immediate trade are include Publix, Circle K, Burger King, KFC, Taco Bell, McDonald’s, ALDI and many others
• Directly across the street is Mallards Landing Golf Course, an 18-hole par-72 golf course that offers lessons, a driving range and pro shop