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1 Lafayette PlHilton Head Island, SC 29926
Truist Bank
Asset ClassRetail
Cap Rate5.75%
Recent Extension From Credit Tenant
overview of deal

Overview

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. Truist recently extended the firm term of the lease to 10 years plus two renewal options

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Investment Highlights

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 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

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1 Lafayette PlHilton Head Island, SC 29926

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