Hilton Head Island, SC Truist

1 Lafayette Pl
Lease Type Absolute NNN
Cap Rate 7.00%
Property Type Freestanding Building
Building Size 6,479 SF
NOI $200,480
Land Area 1.10 Acres
Status Active
Property Highlights

Atlantic Capital Partners has been exclusively engaged to solicit offers for the sale of a Truist Bank in Hilton Head Island, SC. The premises has continuously operated as a bank branch/financial center by Truist Bank or predecessor companies since 1999. Located just off Hwy 278 (William Hilton Parkway) at the intersection of Indigo Run Dr and Lafayette Place within the master-planned community of Indigo Run Plantation on Hilton Head Island, SC. The subject is leased to Truist until 7/31/2027 with Two- 5 (five) year renewal options.

  • Corporate Guarantee from Strong Credit Tenant
    • Truist Financial (NYSE: TFC) is the 7th largest bank in the United States | Truist holds over $543B in assets | S&P Rating: A-
  • Attractive Lease Fundamentals
    • No Landlord responsibilities | Annual rental increases based on the CPI providing a strong hedge against inflation | Retail and office synergies within Indigo Run | Subject is equipped with three covered drive-thru lanes
  • Long Operating History
    • Truist or its predecessor company has been operating at this location for over 25 years | Truist extended the lease as recently as 2022 | Strong customer deposits
  • Prime Location Within Indigo Run Plantation
    • Indigo Run Plantation is 1,700-acre mixed-use development featuring resort-style architecture and amenities that include office, retail, 2-championship golf courses, tennis and boating facilities. Subject is located at the corner of Indigo Run Dr and Lafayette Place, just off of William Hilton Pkwy (33,000 VPD). National tenants within Indigo Run include Harris Teeter, Publix, Walmart Supercenter, Barnes & Noble, PetSmart, & HomeGoods
  • Strong Demographics and Market Fundamentals
    • Over 33k people live within a 5-mile radius | Average household income nearly 150K | Major resort and vacation destination | Low office vacancy | Steadily rising rents | Limited supply of commercial development due to restrictions | Less than one mile from the Hilton Head Island Airport
  • High Growth MSA
    • The Bluffton/Hilton Head MSA is one of the fastest growing areas in the state of South Carolina. Between 2010 and 2020, Bluffton experienced a 158% growth rate, with the population expected to nearly double in the next 30 years