Shops II - The Bridges - Tucson, AZ
3460 South Kino Parkway, Tucson, AZ, 85713, US
MYR 20,777,000 | 685 m²
Description
Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer the opportunity to acquire the fee simple interest in Pinnacle Bank located at 531 East Main Street in Spartanburg, South Carolina (“Property” or “Asset”). Pinnacle is operating on 15-year absolute NNN lease with ±12.1 years of primary lease term remaining, 1.9% annual rent escalations, two, five-year renewal options and zero landlord responsibilities.
This unique opportunity allows investors the ability to acquire long-term passive income from an investment grade bank tenant with a significant deposit base from its local community.
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Attributes
Asking price
MYR 20,596,000
Cap rate
6%
NOI
MYR 1,236,000
WAULT
12 years
Building area net
866 m²
Media
Investment Highlights
- Operating on an absolute NNN lease with ±12.1 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)
- Dominant market position as the only Pinnacle Bank in Spartanburg, featuring a strong $119M deposit base
- Prime college town location adjacent to Converse University (1,900+ students) and near Hillcrest Market Place, a top 3% shopping center in South Carolina
- Excellent submarket fundamentals with 27% population growth, affluent $98K average household incomes, and high visibility at a signalized intersection with 28,800 VPD
Contact brokers
Pinnacle Bank – Spartanburg, SC (0 Properties)
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Last updated
6 Oct 2025
