|Remaining Term||8 years, 1 month|
|Tenant||SUNTRUST BANKS, Incorporated|
|Guarantor||SUNTRUST BANKS, Incorporated|
SunTrust Bank location for sale in Chattanooga, Tennessee. The property is a freestanding retail building that is tenanted by SunTrust Bank and is corporately guaranteed by SunTrust Banks, Inc. (NYSE: STI). The tenant is on an absolute NNN lease with 10.5 years of lease term remaining. The property is strategically positioned at the intersection of East 3rd Street and Dodson Avenue in a dense urban location, with a large population base in its immediate vicinity. The property has also had upward-trending deposits over the past 4 years, increasing by 22% since 2014.
- Fee simple interest of 100%
- Absolute NNN Lease with Over 10 Years of Term Remaining
- Corporate Guarantee leased to an investment grade tenant (S&P: A-)
- Close proximity to two major medical centers and University of Tennessee
- Excellent 1031 Exchange Option at low price point
- Location in income tax free state
- Improving deposit base as reported to the FDIC.