
First National Bank - Charlotte, NC
9931 Sandy Rock Place, Charlotte, NC, 28277, US
¥707,947,000 | 249 ㎡
Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer the opportunity to acquire the ground-leased interest in a freestanding TD Bank located at 407 E Six Forks Rd, Raleigh, NC (“Property” or “Asset”). TD Bank is one of the largest banks in the nation and maintains an investment-grade rating from Standard & Poor’s (A+ / Stable) and Fitch (AA-). The lessee is operating on a 10-year absolute NNN ground lease with zero landlord responsibilities and attractive 2.5% annual rent escalations throughout both the primary term and four, five-year renewal options. Additionally, TD’s rents are well-below market and provide ownership with a future mark-to-market opportunity.
The newly constructed Asset features a drive-thru format and occupies a prime location at the intersection of Wake Forest Rd and Six Forks Rd with clear exposure to over 51,000 vehicles per day. The Property also benefits from strong local demographics including nearly $128,000 average household income and robust 37.8% population growth since 2010 within a 1-mile radius.
Located in Mid-Town (North Hills) and centrally located within Raleigh, the Asset sits within a thriving mixed-use corridor anchored by Costco Wholesale with diverse retail, commercial, and residential properties nearby. Across Wake Forest Rd is the most visited Wegmans grocery store in North Carolina with 1.5M annual visits and Holly Park shopping mall with 2.5M annual visits (Placer.ai).