PNC Bank - AT&T
Closed2841 Greenbriar Pkwy SW, Atlanta, GA 30331
Property type
Retail
Price
$2,290,000
Building size
4,400 sf
Rentable area
4,400 SF
Year built
2016
Year renovated
Occupancy
Zoning code
Lot size
0.70 Acres
Sold/status
Sold · Date unknown
Sale price
$2290000
CAP
7.32%
Net Operating Income
$167,563
Property description
Franklin Street is pleased to present this two-tenant opportunity with PNC Bank and AT&T in Atlanta, Georgia. The property is located in southwest Atlanta less than 5 miles away from the Atlanta Airport. The site sits at a lighted corner in front of the 678,072-SF Greenbriar Mall, which is anchored by Macy's. It was originally developed in 2016 and PNC Bank and AT&T both signed original 10-year leases when they began occupying the property. The leases offer landlord-friendly 10% increases every 5 years. The property fills a substantial market void for PNC Bank. They spent multiple years searching for an acceptable site until they landed here. The location falls within an Opportunity Zone, which encourages future surrounding development by offering substantial tax incentives for investors. The center is located a short distance from two major traffic corridors: Langford Pkwy (64,700 VPD) and I-285 (151,000 VPD). The property requires very little landlord responsibilities and still has 6 years remaining on its Firestone roof warranty that is transferable to new ownership.
Property highlights
- Newer construction PNC Bank & AT&T in Atlanta
- Investment-grade tenants: PNC Bank (A - S&P rating) and AT&T (BBB - S&P rating)
- Outparcel to Greenbriar Mall and across from high-volume Kroger
- Excellent visibility on Greenbriar Pkwy: 23,600 VPD
- Densely populated area: 204,470 residents within 15 minutes
- 10% rent bump in one year from PNC Bank
- Easily accessible: 10 miles from Downtown Atlanta and 5 miles from Hartsfield Jackson Airport (World's Busiest)
- Surrounded by national retailers: Macy's, Planet Fitness, Kroger, Dollar Tree, Foot Locker, CVS, among many others