First National Bank - Charlotte, NC

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to exclusively offer for sale the newly-constructed, single-tenant First National Bank (“Company” or “Tenant”) property located at 9931 Sandy Rock Place in Charlotte, NC. The Tenant is operating under an absolute net ground lease with 15.4-years of primary term remaining, and two, five-year renewal options. The ground lease provides for 2.5% annual rent increases with zero landlord responsibilities and is operated by FNB Corporation (NYSE: FNB), one of the 50 largest bank holding companies in the United States, managing over 350 locations and supported by investment-grade credit (S&P: BBB-).

First National Bank sits as an outparcels to Rea Farms, South Charlotte’s top ranked shopping center – top 7% of centers in the U.S. and top 5% in North Carolina – which is home to one of the highest-performing Harris Teeters in the state and a diverse mix of top national and regional tenants. The Property, which comprises 2,685 SF on 1.4 acres, is embedded within one of Charlotte’s most affluent and rapidly growing suburban nodes, at the convergence of Providence Road and Ardrey Kell Road, benefitting from exceptional visibility to 82,500 combined vehicles per day and direct access to a high-income residential base.

This rare opportunity allows investors the ability to acquire a passive income stream from a nationally-recognized tenant in a recession-resistant industry at an unbelievable location adjacent to some of the highest performing retail shopping centers in the United States.