Deals
Suntrust – Atlanta MSA (Alpharetta, GA)
THE OPPORTUNITY
The NN single tenant Suntrust is located on a Publix anchored shopping center outparcel in Alpharetta, GA. Alpharetta is one of the Atlanta MSA’s fastest growing submarkets with 51% population growth within a 1-mile radius of the location over the past 10 years, and most affluent submarkets with average household incomes of $231,395 within a 1-mile radius of the Suntrust location.
Suntrust has occupied the location since 2007 and has recently renewed through 2030. In 2019 Suntrust merged with BB&T to create the 6th largest US bank holding company serving over 10,000,000 households.
THE DEAL POINTS
- Square Feet: 4,025
- NOI: $175,661
- Asking Price: $3,190,000
- Cap Rate: 5.51%
THE HIGHLIGHTS
- NN Lease
- Landlord Responsible for roof and structure
- SunTrust Banks, INC (NYSE:STI) has a revenue of $9 billion
- SunTrust corporate guarantee
- S&P rate A- investment grade credit
- SunTrust is merging with BB&T to create Truist. Truist will be the sixth largest US bank holding company, serving more than 10 million households in the US, with a leading presence in many of the most attractive, high-growth markets in the country