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Marketing Brochure/Flyer Representative Photo TRUIST BANK EXCLUSIVE NET - LEASE OFFERING OFFERING MEMORANDUM 3491 Courtyard Way - Columbus, GA 31909 Confidentiality and Disclaimer Marcus & Millichap hereby advises all prospective purchasers of market, economic, environmental or other conditions. Regardless the accuracy or completeness of the information provided. All Net Leased property as follows: of tenant history and lease guarantees, Buyer is responsible for potential buyers must take appropriate measures to verify all of conducting his/her own investigation of all matters affecting the the information set forth herein. The information contained in this Marketing Brochure has been intrinsic value of the property and the value of any long-term obtained from sources we believe to be reliable. However, lease, including the likelihood of locating a replacement tenant if NON-ENDORSEMENT NOTICE Marcus & Millichap has not and will not verify any of this the current tenant should default or abandon the property, and information, nor has Marcus & Millichap conducted any the lease terms that Buyer may be able to negotiate with a Marcus & Millichap Real Estate Investment Services, Inc. investigation regarding these matters. Marcus & Millichap makes potential replacement tenant considering the location of the (“M&M”) is not affiliated with, sponsored by, or endorsed by any no guarantee, warranty or representation whatsoever about the property, and Buyer’s legal ability to make alternate use of the commercial tenant or lessee identified in this marketing package. accuracy or completeness of any information provided. property. The presence of any corporation’s logo or name is not intended By accepting this Marketing Brochure you agree to release to indicate or imply affiliation with, or sponsorship or As the Buyer of a net leased property, it is the Buyer’s Marcus & Millichap Real Estate Investment Services and hold it endorsement by, said corporation of M&M, its affiliates or responsibility to independently confirm the accuracy and harmless from any kind of claim, cost, expense, or liability arising subsidiaries, or any agent, product, service, or commercial listing completeness of all material information before completing any out of your investigation and/or purchase of this net leased of M&M, and is solely included for the purpose of providing purchase. This Marketing Brochure is not a substitute for your property. tenant lessee information about this listing to prospective thorough due diligence investigation of this investment customers. opportunity. Marcus & Millichap expressly denies any obligation CONFIDENTIALITY AND DISCLAIMER to conduct a due diligence examination of this Property for Buyer. ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE The information contained in the following Marketing Brochure is CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE Any projections, opinions, assumptions or estimates used in this proprietary and strictly confidential. It is intended to be reviewed DETAILS. Marketing Brochure are for example only and do not represent only by the party receiving it from Marcus & Millichap and should the current or future performance of this property. The value of a not be made available to any other person or entity without the SPECIAL COVID-19 NOTICE net leased property to you depends on factors that should be written consent of Marcus & Millichap. This Marketing Brochure evaluated by you and your tax, financial and legal advisors. has been prepared to provide summary, unverified information All potential buyers are strongly advised to take advantage of to prospective purchasers, and to establish only a preliminary their opportunities and obligations to conduct thorough due Buyer and Buyer’s tax, financial, legal, and construction advisors level of interest in the subject property. The information diligence and seek expert opinions as they may deem necessary, should conduct a careful, independent investigation of any net contained herein is not a substitute for a thorough due diligence especially given the unpredictable changes resulting from the leased property to determine to your satisfaction with the investigation. Marcus & Millichap has not made any investigation, continuing COVID-19 pandemic. Marcus & Millichap has not been suitability of the property for your needs. and makes no warranty or representation, with respect to the retained to perform, and cannot conduct, due diligence on behalf income or expenses for the subject property, the future projected of any prospective purchaser. Marcus & Millichap’s principal Like all real estate investments, this investment carries significant financial performance of the property, the size and square expertise is in marketing investment properties and acting as risks. Buyer and Buyer’s legal and financial advisors must request footage of the property and improvements, the presence or intermediaries between buyers and sellers. Marcus & Millichap and carefully review all legal and financial documents related to absence of contaminating substances, PCB’s or asbestos, the and its investment professionals cannot and will not act as the property and tenant. While the tenant’s past performance at compliance with State and Federal regulations, the physical lawyers, accountants, contractors, or engineers. All potential this or other locations is an important consideration, it is not a condition of the improvements thereon, or the financial buyers are admonished and advised to engage other guarantee of future success. Similarly, the lease rate for some condition or business prospects of any tenant, or any tenant’s professionals on legal issues, tax, regulatory, financial, and properties, including newly-constructed facilities or newly- plans or intentions to continue its occupancy of the subject accounting matters, and for questions involving the property’s acquired locations, may be set based on a tenant’s projected property. The information contained in this Marketing Brochure physical condition or financial outlook. Projections and pro forma sales with little or no record of actual performance, or has been obtained from sources we believe to be reliable; financial statements are not guarantees and, given the potential comparable rents for the area. Returns are not guaranteed; the however, Marcus & Millichap has not verified, and will not verify, volatility created by COVID-19, all potential buyers should be tenant and any guarantors may fail to pay the lease rent or any of the information contained herein, nor has Marcus & comfortable with and rely solely on their own projections, property taxes, or may fail to comply with other material terms of Millichap conducted any investigation regarding these matters analyses, and decision-making.) the lease; cash flow may be interrupted in part or in whole due to and makes no warranty or representation whatsoever regarding 3491 Courtyard Way - Columbus, GA 31909 Representative Photo Table of Contents Investment Highlights 4 Financial Analysis 5 Tenant Overview 6 Surrounding Area 7 Location Overview 8 Local / Regional Maps 9-10 Demographics / Market Overview 11-12 Investment Highlights PRICE: $1,620,424 | CAP: 5.50% | RENT: $89,123 Representative Photo About the Investment ✓ Absolute Triple Net (NNN) Lease | 6.7 Years Remaining ✓ Attractive 1.5% Annual Rental Increases ✓ Investment Grade Tenant | A Rating (S&P) ✓ Six (6), Five (5)-Year Tenant Renewal Options ✓ Corporate Tenant | Corporate Guarantee ✓ In 2016, Truist Bank Executed its Renewal Option Early & Extended the Term of the Lease by 11.5 Years About the Location ✓ Dense Retail Corridor | The Home Depot, Walmart, Macy’s, J.C. Penney, At Home, Burlington, Walgreens, CVS Pharmacy, McDonald’s, Burger King, Chick-fil- A, KFC, Dollar General, and Many More ✓ Strong Real Estate Fundamentals | Directly Adjacent to Peachtree Mall | 92 Tenants ✓ High Academic Presence | Across the Street from Columbus State University | More than 8,300 Students Enrolled ✓ Strong Traffic Counts | Manchester Expressway & Interstate 185 | Average 50,500 and 84,500 Vehicles Per Day, Respectively ✓ Immediate Access to Healthcare | Less than Two-Miles From St. Francis Hospital | A Massive 376-Bed State-of-the-Art Facility About the Tenant / Brand ✓ Investment Grade Tenant | A Rating (S&P) ✓ Truist Financial Corporation is the nation’s sixth largest U.S. bank holding company ✓ $306 billion in Loans ✓ $381 billion in Deposits ✓ 10 Million Households Served ✓ 275 years of combined history serving clients and communities in high-growth markets ✓ Headquartered in the financial district of Uptown Charlotte, North Carolina Truist Bank 4 Financial Analysis PRICE: $1,620,424 | CAP: 5.50% | RENT: $89,123 Property Description RENT SCHEDULE Property Truist Bank Lease Year(s) Annual Rent Monthly Rent Rent Escalation (%) Property Address 3491 Courtyard Way 4/1/2021 - 3/31/2022 $89,123 $7,427 - 4/1/2022 - 3/31/2023 $90,460 $7,538 1.50% City, State, ZIP Columbus, GA 31909 4/1/2023 - 3/31/2024 $91,817 $7,651 1.50% Year Built / Renovated 1988 4/1/2024 - 3/31/2025 $93,194 $7,766 1.50% Building Size 3,810 4/1/2025 - 3/31/2026 $94,592 $7,883 1.50% Lot Size +/- 0.69 Acres 4/1/2026 - 3/31/2027 $96,011 $8,001 1.50% Type of Ownership Fee Simple 4/1/2027 - 3/31/2028 $97,451 $8,121 1.50% The Offering Purchase Price $1,620,424 CAP Rate 5.50% Annual Rent $89,123 Property Type Net Leased Bank INVESTMENT SUMMARY Tenant / Guarantor Corporate Marcus & Millichap is pleased to present the exclusive listing for a Truist Bank Ownership Type Public located at 3491 Courtyard Way in Columbus, Georgia. The site constructed in 1988, consists of roughly 3,810 rentable square feet of building space on Lease Commencement March 28, 2008 estimated 0.69 acre parcel of land. Lease Expiration March 31, 2028 Lease Term Remaining 6.7 Years Truist Bank is subject to an absolute triple-net (NNN) lease. The annual rent is Lease Type Triple Net (NNN) $89,123 with annual one and a half (1.50%) rental increases. In 2016, Truist Rental Increases 1.50% Annually Bank executed its renewal options early & extended the term of the lease by Options to Renew Six (6), Five (5)-Year Option Periods 11.5 years.
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