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Truist Bank 1 Lafayette Pl
6,479 SF Retail Building Hilton Head Island, SC 29926 £2,558,454 (£395/SF) 5.75% Net Initial Yield
INVESTMENT HIGHLIGHTS
- RECENT LEASE EXTENSION PROVIDES 10-YEARS OF FIRM TERM
- LONG OPERATING HISTORY
- CORPORATE GUARANTEE FROM STRONG CREDIT TENANT
- STRONG DEMOGRAPHICS AND MARKET FUNDAMENTALS
EXECUTIVE SUMMARY
- Truist Financial (NYSE: TFC) is the 7th largest bank in the United States
- Truist holds over $543B in assets
- S&P Rating: A
ATTRACTIVE INVESTMENT FUNDAMENTALS
- No Landlord responsibilities
- 10 years of term remaining with rental increases
- 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 recently extended the firm lease term until 09/30/2029 demonstrating long-term commitment to the market and location
PRIME LOCATION WITHIN INDIGO RUN PLANTATION
- Indigo Run Plantation is 1,700-acre mixeduse 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
PROPERTY FACTS
AMENITIES
- Bus Route
- Pylon Sign
- Signage
- Drive Thru
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
-
- Finance and Insurance
- 6,479 SF
- -
- NNN
- Sep 2034
At Truist, their purpose is to inspire and build better lives and communities. That happens through real care to make things better. To meet client needs, to empower teammates, and to lift up communities. Their belief in better is at the core of everything that they do, every day. They are one team united by their purpose, mission, and values. Working together to take care of people is more than the words they say—it’s who they are. Great leaders change their world for the better. The best ones inspire people to live with a winning mindset. They have developed a culture of leadership that empowers others to be their best. The Truist Executive Leadership team is made up of diverse, seasoned leaders—committed to building better for their clients, teammates, and communities.
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
|
|
Finance and Insurance | 6,479 SF | - | NNN | Sep 2034 |
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | R510-008-000-0415-0000 | Improvements Assessment | £0 |
| Land Assessment | £0 | Total Assessment | £75,123 |
PROPERTY TAXES
Presented by
Truist Bank | 1 Lafayette Pl
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