The Shoppes at Gateway
3000 Gateway St, Springfield, OR, 97477-1033, US
64,780 m²
Asset Description
Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer the opportunity to acquire the fee simple Pinnacle Financial Partners located at 241 Brooklawn Street in Knoxville, Tennessee (“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 just 13 miles southwest of downtown Knoxville, Pinnacle is positioned at the signalized intersection of Brooklawn Street and S Campbell Station Road, just south of Kingston Pike, the main throughfare in the town of Farragut, with direct accessibility to more than 44,000 vehicles per day. Farragut is an affluent area in the Knoxville MSA known for its upscale homes and proximity to downtown Knoxville.
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Attributes
Asking price
₹188,648,000
Cap rate
5.25%
NOI
₹9,915,000
WAULT
12.5 years
Building area net
371 m²
Land area gross
0.46 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 200,000 SF Kroger anchored Brooklawn Village shopping center
- Strong demand characteristics driven by 3-mile AHHI of $166K
- Adjacent to new $100 million Biddle Farms development
- Signalized intersection with direct accessibility to 44K VPD
Contact brokers
Pinnacle Bank - Knoxville, TN (0 Properties)
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Last updated
9 May 2025
