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Regions Bank, Dalton, GA

Regions Bank, Dalton, GA


Investment Summary

Price $2,223,000
Cap Rate 5.85%
NOI $130,000
Lease Term 5 years remaining
Lease Type Absolute NNN lease, with tenant responsible for all taxes, insurance, maintenance, and repair, including roof, structure, and parking lot
Rental Increases 3% annual rental increases
Year Built 2003
Building Size 3,784 SF
Lot Size 0.999 acres (43,529.33 SF)
Status Available
Lead Brokers Vincent Aicale
Vice Chairman
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Michael T. Yuras, CCIM
Vice Chairman
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Ryan Forsyth
Vice Chairman
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Scott Crowle
Executive Managing Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Investment Highlights

HIGH-QUALITY, INVESTMENT GRADE SINGLE-TENANT ASSET
» Recently extended absolute NNN lease with 3% annual rental increases
» Long-term lease to Regions Bank, an investment grade tenant, with an “A-2” rating from Standard & Poor’s
» Regions Financial Corporation (NYSE: “RF”), with $153.6B in assets, is one of the nation’s largest full-service providers of consumer and commercial banking
» Absolute NNN lease requires no landlord management, ideal for passive investors
» High-quality construction featuring 31 total parking stalls and five drive-thru lanes equipped with ATMs for added customer convenience

OUTPARCEL LOCATION AT THE CONFLUENCE OF MAJOR GEORGIA THOROUGHFARES
» Prominent location at the signalized intersection of South Tibbs Road and State Route 52 / West Walnut Avenue (combined 39,500 AADT)
» State Route 52 is a long-haul route connecting Dalton, Dahlonega, and Gainesville, allowing the site to capture significant commuter traffic
» Minutes from the off-ramp of Interstate 75, the only Interstate to traverse the full length of Georgia from north to south
» Well-positioned near the city’s largest industrial employers, including Beaulieu of America (2,500 employees), Mohawk Industries (1,000 employees) and Shaw Industries (750 employees)
» Excellent proximity to major national tenants such as Starbucks, Food City, Ross Dress for Less, PetSmart, Kroger, Big Lots, T.J. Maxx, LongHorn Steakhouse, Walgreens, and many more

POPULOUS GEORGIA SUBURB KNOWN AS THE “CARPET CAPITAL OF THE WORLD”
» 62,193 residents live within five miles of the property, providing a reliable and growing customer base for the site
» Excellent average annual household income of $121,879 within a one-mile radius
» Dalton is home to many of the nation’s floor-covering manufacturers, primarily those producing carpet, rugs, and vinyl flooring
» Interstate 75 leads directly to Downtown Atlanta, the capital and most populous city in Georgia (504,360 residents)

Property Description

» Exceptional Visibility and Access: This Regions Bank is located at the signalized intersection of State Route 52 /West Walnut Avenue and South Tibbs Road (combined 39,500 AADT) with multiple access points into the property
» Outparcel Location: Situated in a retail center anchored by Food City, Ross Dress for Less, and PetSmart and located minutes from the Interstate 75 (81,102 AADT) off-ramp
» Beneficial Proximity to Large Industrial Employers: The site is located less than 5 miles from industrial employers such as Beaulieu of America (2,500 employees), Mohawk Industries (1,000 employees) and Shaw Industries (750 employees), exposing this banking institution to a large customer base
» Set in Northwest Georgia: Dalton (known as the Carpet Capital of the World) contains many traffic generators as it is home to many industrial facilities and distribution centers
» Strong Demographics: 62,193 residents live within five miles of the property while the 1-mile-radius average annual household income is $121,879
» Gateway to Chattanooga: Dalton is located less than 32 miles from Chattanooga, Tennessee’s fourth largest city (183,095 residents)

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