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Regions Bank Ground Lease, Conroe, TX

Regions Bank Ground Lease

TX, USA

Price $3,375,000
Cap Rate
NOI
Lease Term 15 Years
Lease Type Absolute NNN Ground Lease, With Tenant Responsible For All Taxes, Insurance, And Maintenance, Including Roof, Structure, And Parking Lot
Rental Increases 10% Rental Increases Every Five (5) Years
Year Built 2020
Building Size 1,556 SF
Lot Size 1.28 Acres (55,787 SF)
Status Sold
Lead Broker Information Michael T. Yuras, CCIM
Vice Chairman
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Ryan Forsyth
Executive Managing Director
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Scott Crowle
Executive Managing Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Vincent Aicale
Executive Managing Director
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Investment Highlights

15-YEAR ABSOLUTE NNN GROUND LEASE WITH SCHEDULED RENTAL INCREASES
» Long-term lease to Regions Bank, an investment grade tenant, with an “A-” rating from Standard & Poor’s
» Regions Financial Corporation (NYSE: “RF”), with $126 billion in assets, is one of the nation’s largest full-service providers of consumer and commercial banking
» Absolute NNN lease requires no landlord management, ideal for passive investors
» Scheduled rental increases, providing a hedge against inflation
» 2020 construction featuring three drive-thru lanes and latest Regions design & concepts

NEWLY CONSTRUCTED REGIONS BANK IN TROPHY GROCERY ANCHORED CENTER
» Located within Harper’s Preserve, a new 880-acre master-planned gated community with more than 2,000 homes and an affluent demographic with more than 84,000 residents in a five-mile radius and an average household income over $141,000
» Ideally positioned off Interstate 45 (179,160 AADT) along Texas State Route 242 (49,026 AADT) at Harper’s Trace with multiple access points providing easy accessibility and visibility
» Conroe, TX was recently identified as the fastest-growing city in U.S. with an annual growth rate of 7.8%, 11 times the national average
» Limited housing supply in The Woodlands is driving a significant push for housing growth east of Interstate 45
» Conroe is an ideal location for companies in need of both regional air transportation and international air travel. Just 15 miles from Harper’s Preserve, Conroe-North Houston Regional Airport provides immediate access to the world through both private and corporate flights.. In addition, George Bush Intercontinental Airport Houston (IAH) is a short 30-minute drive from Conroe
» Nearby major medical hospitals include St. Lukes Woodland Hospital, Houston Methodist Hospital, Texas Children’s Hospital, and Kelsey-Seybold Clinic establishing the community with a top-tier workforce and 24-hour demand for tenants within the center


Property Description

SOLD

This Regions Bank is strategically located in the heart of Conroe’s economic and communal hub, surrounded by world-class shopping, dining, and recreation. The master-planned community of Harper’s Preserve includes three villages: West Village (complete), East Village (nearing completion), and South Village (now open). The location features easy access to George Bush Intercontinental Airport and nearby Houston, featuring world-renowned museums, professional sports with the Astros, Texans, and Rockets, the downtown theater district, and much more.

84,088 residents live within a five-mile radius of the property, with an increase of 44% since 2010 and a projected increase of 18% over the next five years, illustrating Conroe’s recent and explosive growth. The property is also supported by an affluent customer base, with an average annual household income of $141,085 within five miles of the property.

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