Pinnacle Bank – High Point, NC (Westchester Dr)

1813 Westchester Drive, High Point, NC, 27262, US

Description

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer the opportunity to acquire the fee simple Pinnacle Financial Partners located at 1813 Westchester Drive

in High Point, North Carolina (“Property” or “Asset”). Pinnacle is operating on 15-year absolute NNN lease with ±12.3 years of primary lease term remaining, 1.9% annual rent escalations, two, five-year renewal options and zero landlord responsibilities.

Located in northern High Point, the Property is 16 miles from both downtown Greensboro and downtown Winston-Salem in the Piedmont Triad Region. Pinnacle is positioned along Westchester Road, on the signalized intersection with English Road and just north of Interstate 85, providing direct accessibility to more than 50,000 vehicles per day.

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Attributes

Asking price

NT$47,646,000

Cap rate

NOI

NT$2,865,000

WAULT

12.3 years

Building area net

301 m²

Land area gross

0 m²

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)
4 miles from High Point University (#1 Regional College in South)
$79M in deposits secured in 2024
Signalized intersection with direct visibility to 50,000 VPD
Palladium South, a 36-acre, multi-million-dollar mixed-use development set to open in 2026
25,000+ projected population growth in High Point by 2045