Triple Net Leased PNC Bank for sale

NET LEASED INVESTMENT OFFERING

CONFIDENTIAL OFFERING MEMORANDUM

www.bouldergroup.com

PNC Bank

210 Jonesboro Road

McDonough, Georgia 30253 (Atlanta MSA)


TABLE OF CONTENTS

TABLE OF CONTENTS


1

2

3

4

5

6

7

9

10

11

Confidentiality & Disclaimer

Executive Summary

Property Overview

Aerial

Site Plan

Maps

Tenant Profile

Demographic Comparison Report

Location Overview

Contact Information


CONFIDENTIALITY & DISCLAIMER

The information contained in the following Offering Memorandum is proprietary and strictly confidential. It is intended to be

reviewed only by the party receiving it from The Boulder Group and should not be made available to any other person or entity

without the written consent of The Boulder Group. This Offering Memorandum has been prepared to provide summary,

unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property.

The information contained herein is not a substitute for a thorough due diligence investigation. The Boulder Group has not

made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject

property, the future projected financial performance of the property, the size and square footage of the property and

improvements, the presence or absence of contaminating substances, PCB's or asbestos, the compliance with State and

Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of

any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in

this Offering Memorandum has been obtained from sources we believe to be reliable; however, The Boulder Group has not

verified, and will not verify, any of the information contained herein, nor has The Boulder Group conducted any investigation

regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the

information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein.

CONFIDENTIALITY & DISCLAIMER



EXECUTIVE SUMMARY

EXECUTIVE SUMMARY


The Boulder Group is pleased to exclusively market for sale a single tenant PNC Bank property located approximately thirty miles southwest of downtown Atlanta. The 4,128 square foot building was constructed in 2003 in McDonough, Georgia.

The subject property is located on the northwest corner of the signalized intersection of Jonesboro Road and McDonough Parkway. Jonesboro Road is the primary east-west thoroughfare and has a full access interchange with Interstate 75 less than 2.5 miles away. Interstate 75 experiences traffic volumes in excess of 120,000 vehicles per day. The immediate area is surrounded by many national retailers such as Kroger, Walgreens, Chase Bank and Chick-fil-a.

In March 2012, PNC Bank purchased RBC Bank for $3.6 billion as a point of entry into the Southeast. PNC Bank targeted the Atlanta market as the place to establish their dominance in the region. PNC Bank assumed the obligations of the original lease that was signed by RBC Bank. The lease expires March 2019 and there are three 5-year options. PNC Bank has over 2,800 locations in 17 states and is publicly traded on the New York Stock Exchange (PNC). PNC is an investment grade rated company with a Standard & Poor’s rating of A-.

INVESTMENT HIGHLIGHTS

Located within the Atlanta MSA

Investment grade tenant (S&P: A-)

Located on the hard corner of a signalized intersection

Minimal landlord responsibilities

Positioned along the primary east-west thoroughfare in the area

Located less than 2.5 miles from Interstate 75 (120,000 VPD)

Across the street from a Kroger anchored shopping center

PROPERTY OVERVIEW

$2,343,877

8.15%

$191,026

Three 5-Year at FMV

November 23, 2003

March 31, 2019

PNC Bank

A- (S&P)

2003

NN*

4,128 SF

47,480 SF

PROPERTY OVERVIEW


Price:

Cap Rate:

Net Operating Income:

Renewal Options:

Lease Commencement Date:

Lease Expiration Date:

Tenant:

Credit Rating:

Year Built

Lease Type:

Building Size:

Land Size:

*Landlord is only responsible for capital improvements to structure, parking, and the roof

Towards I-75 120,000 VPD


AERIAL

AERIAL



SITE PLAN

SITE PLAN


Jonesboro Road

McDonough P

arkw

ay


MAPS

MAPS


SITE

SITE


TENANT PROFILE

Website:

Credit:

Stock Symbol:

Number of Locations:

Market Capitalization:

www.pnc.com

A- (S&P)

PNC (NYSE)

2,700+

$39 billion

PNC Financial Services is a diversified financial services company in the United States. PNC is engaged in retail banking, corporate and institutional banking, asset management, and residential mortgage banking. PNC provides deposit, lending, cash management, and investment services to more than 6 million consumer and small business customers across 19 states and the District of Columbia. PNC is the fifth largest bank in the United States (total branches) with more than 2,700 branches and 7,400 ATM machines. PNC is publicly traded on the New York Stock Exchange as PNC and has a market capitalization in excess of $39 billion.

TENANT PROFILE


http://www.pnc.com


DEMOGRAPHIC COMPARISON REPORT

DEMOGRAPHIC COMPARISON REPORT


Population

Total Population

Total Households

Income

Median Household Income

Average Household Income

3-mile

37,574

13,431

$50,872

$63,858

5-mile

69,521

24,284

$59,534

$74,524

7-mile

114,368

40,181

$60,665

$75,814


LOCATION OVERVIEW

McDonough is the county seat of Henry County, Georgia. According to the 2010 census, McDonough had a population of 22,084 but with the inclusion of the unincorporated surrounding neighborhoods, the population is in excess of 30,000. The population of Henry County grew 70.9% from the 2000 census to the 2010 census, making it the 8th most populous county in Georgia and the 10th fastest growing county in the country.

Atlanta is the cultural and economic center of the Atlanta metropolitan area, which is home to 5,268,860 people and is the ninth largest metropolitan area in the U.S. Today, the it is a major business city and the primary transportation hub of the Southeastern United States (via highway, railroad, and air), with Hartsfield–Jackson Atlanta International Airport being the world's busiest airport by passenger traffic and number of landings and take-offs since 2005, serving 89 million passengers per year. The World Cities Study Group at Loughborough University rated Atlanta as a “Global City.” With a gross domestic product of US$270 billion, Atlanta's economy ranks 15th among world cities and sixth in the nation. Atlanta contains the country's fourth largest concentration of Fortune 500 companies, and more than 75 percent of Fortune 1000 companies have business operations in the metropolitan area. Metro Atlanta is the world headquarters of corporations such as The Coca-Cola Company, Turner Broadcasting, The Home Depot, AT&T Mobility, UPS, and Delta Air Lines.

LOCATION OVERVIEW


www.atlantaga.gov

http://www.atlantaga.gov


CONTACT INFORMATION

666 Dundee Road | Suite 1801Northbrook, IL 60062

Randy [email protected]

Jimmy [email protected]

CONTACT INFORMATION


Triple Net Leased PNC Bank for sale

Real Estate

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