Fifth Third Bank - Delray Beach, FL

Jones Lang LaSalle Americas, Inc. (“JLL”), is pleased to exclusively offer for sale the ground leased interest in the new construction Fifth Third Bank located at 5026 West Atlantic Avenue in Delray Beach, FL (the “Property” or “Asset”). Fifth Third Bank is among the largest money managers in the Midwest, carries an investment grade credit rating (S&P: A-), and has been named one of the World’s Best Private Banks by Global Finance for four consecutive years. The tenant signed a new 20-years lease with 10.0% rental increases every 5 years across the primary lease term and the four, 5-year renewal options.

Located on a major retail corridor in Delray Beach, the Property benefits from the ease of access to both Interstate-95 and Florida’s Turnpike. The Property is an outlot to the recently redeveloped and rebranded Delray Landing shopping center, which features a brand-new Sprouts Farmers Market. The Property is also an outparcel to the Delray Square Shopping Center, a highly trafficked shopping center in the region with over 1.5 million visitors annually and 9+ retailers, including a Publix Supermarket that is ranked in the 89th Percentile of all Publix stores in the nation (per Placer.ai).

The Property benefits from the 19% population growth that has occurred in the past decade within a five-mile radius. The Asset is located on west side of Delray near Legacy at Sherwood Park Golf Course. The Property is within a residential and retail trade area along Atlantic Avenue and South Military Trail with direct exposure to over 84,500 vehicles per day. It is less than twenty-miles from the Palm Beach International Airport and Florida Atlantic University, an 850-acre academic campus with over 30,000 students enrolled annually.