Property Highlights
Atlantic Capital Partners has been exclusively engaged to solicit offers for the sale of Bank of America | Charlotte, NC. Bank of America has been operating at this location since 2009, and has recently extended the lease for 10 additional years until 2034, and provides for rental increase every 5 years. The Asset is well positioned in a major mixed used development in one of the wealthiest submarkets in Charlotte, NC.
- Attractive Lease Fundamentals
- 7.50% rent increase in extension term and 10% rent increases during options periods | Absolute NNN Ground lease with no early termination clause
- Investment Grade Tenant
- Bank of America S&P Credit rating: A+ | Total market capitalization is over $93B | Over 3,900 retail financial centers across the globe | Over $3 trillion dollars in assets | Employs over 215K employees
- Long Operating History with High Deposits
- Bank of America has been operating for 15 years at this location | Recently extended for another 10 years | Over $250M of deposits at this branch
- Apart of Blakeney Town Center
- A Major Mixed Use Development consisting of 276K SF of office space and 603K SF of retail space | National Retailers include: Best Buy, PetSmart, Target, Marshalls & HomeGoods, Shake Shack, and Chick-Fil-A | Over 5.8M visitors TTM | Ranked top 70th percentile of Power Centers in the Nation
- Affluent South Charlotte Neighborhood
- Average Household Income exceeds $150k within a 1-mile radius | Over 10K people live in a 1-mile radius | Over $172M of total consumer spending within a 1-mile radius YoY
- Highly Accessible and Visible Location
- Cross access to the adjacent shopping center, providing ingress from Rea Rd (31,000 VPD) and fronting Ardrey Kell Rd (16,500 VPD)