The Fifth Third Bank building occupies a hard corner location at Richardson Road and Core Banks Street. It is strategically situated near US 64 (42,300 VPD) and NC 540 (32,000 VPD), two main thoroughfares for the Raleigh MSA. The property is part of the vibrant 45-acre Sweetwater Town Center, a master-planned development featuring 600 single- and multi-family residential units and a dynamic retail hub anchored by Harris Teeter. The property serves an affluent community with an average household income exceeding $217,000 within a one-mile radius and a population of over 150,000 within five miles. Additionally, the population within a one-mile radius is projected to growth by nearly 14% through 2030.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction. The seller is a southeast based developer, and the buyer is a real estate firm in California.
The Fifth Third Bank branch, completed in 2024, features a 15-year triple-net lease through November 2039. With an A– S&P investment-grade tenant, it provides stable cash flow at a low rent of just $100,800 annually.
“New construction properties with long term leases to investment grade tenants with rental escalations are the most sought-after net lease product” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman of The Boulder Group, added, “Single tenant bank properties offer reliable cash flow to credit tenants which private investors are seeking.”
About The Boulder Group
The Boulder Group is a boutique investment real estate service firm specializing in single tenant net lease properties. The firm provides a full range of brokerage, advisory, and financing services nationwide to a substantial and diversified client base, which includes high-net-worth individuals, developers, REITs, partnerships and institutional investment funds. Founded in 1997, the firm has arranged the acquisition and disposition of over $9 billion of single tenant net lease real estate transactions. From 2013-2024, the firm was ranked in the top 10 companies in the nation for single tenant retail transactions by both Real Capital Analytics and CoStar. The Boulder Group is headquartered in suburban Chicago and has an office in Denver.
More info: www.bouldergroup.com
Media Contact
Company Name: The Boulder Group
Contact Person: Randy Blankstein
Email: Send Email
Phone: 8478816388
Address:3520 Lake Avenue Suite 203
City: Wilmette
State: Illinois
Country: United States
Website: https://www.bouldergroup.com/NNN-Properties-For-Sale.html