Pinnacle Bank - High Point, NC (Eastchester Dr)

2630 Eastchester Drive, High Point, NC, 27265, US

Asset Description

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer the opportunity to acquire the fee simple Pinnacle Financial Partners located at 2360 Eastchester Drive in High Point, North Carolina (“Property” or “Asset”). Pinnacle is operating on 15-year absolute NNN lease with ±12.5 years of primary lease term remaining, 1.9% annual rent escalations, two, five-year renewal options and zero landlord responsibilities.

Located in northern High Point, the Property is 10 miles from downtown Greensboro and 15 miles from downtown Winston-Salem in the Piedmont Triad Region. Pinnacle is positioned along Eastchester Road, one of High Point’s busiest streets, on the signalized intersection with Penny Road and just north of West Wendover Avenue, providing direct accessibility to more than 89,000 vehicles per day.

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Attributes

Asking price

CHF 4,154,000

Cap rate

5.25%

NOI

CHF 218,000

WAULT

12.5 years

Building area net

840 m²

Land area gross

0.57 ha

Media

Investment Highlights

Operating on an absolute NNN lease with ±12.5 years of lease term remaining and 1.9% annual rent escalations
Pinnacle Financial Partners is the 2nd largest bank holding company in TN with an investment grade rating (Moody's: Baa2)
Outparcel to Palladium at Deep River, the #4 most visited neighborhood center in NC (out of 585)
Exceptional $126M in deposits (3rd most in Guilford County)
Strong demand characteristics driven by 3-mile AHHI of $1122K
Adjacent to Evolve at Deep River apartment development with 264 units
Signalized intersection with direct accessibility to 89K VPD