Wells Fargo

Wells Fargo

4706 Hog Mountain Rd
Flowery Branch, GA

Price: $2,075,000
Cap: 5.25%
NOI: $108,888
Building Size: 4,063 SF
Lot Size: 1.12 AC

Investment Highlights

OUTPARCEL TO 157,000 SF TARGET POWER CENTER
• This bank is well located off I-985 (57,500 VPD) as an outparcel to Stonebridge Village, a 157,002 SF Target anchored power center.
• Additional anchors include Home Depot, Kohls, TJ Maxx, Ross, PetSmart and OfficeMax.
• Stonebridge Village is the only Power Center in ten miles and draws from an area of 175 square miles.
• This center received over two million annual visitors last year.

INTERSTATE LOCATION (57,500 VPD)
• This bank sits at the intersection of I-985 (57,500 VPD) and Spout Springs Rd (13,495 VPD) on Hog Mountain Rd (6,940 VPD)
• The property benefits from the best location, visibility, and access in the market, contributing to its remarkable number of visits and shopper loyalty.
• Nearby national retailers include Publix, Chick-fil-A, McDonalds, Dunkin Donuts, Walgreens, Starbucks, and more

GROWING AFFLUENT NORTH ATLANTA SUBURB
• Flowery Branch is located less than hour north of Atlanta in Hall County which is among the top 50 fastest growing metros in the country with a total population of 184,814.
• There are significantly above average household incomes and the property is located on the desirable north side of Atlanta on Lake Lanier, North Georgia’s premier lake.
• Flowery Branch is a bedroom community to Atlanta with convenient access to major employment corridors from I-85 and I-985.
• The Atlanta Falcons Training Camp and the Georgia Force Arena Football League team are headquartered in Flowery Branch.
• Flowery Branch is also home to the Northeast Georgia Medical Center, opened in late 2015 and is a 119-acre medical campus with more than 20 physician offices.
• The 5-mile population is 60,278 with 20% growth and average household income of $98,000.

S&P A - CREDIT RATED TENANT
• Founded in 1852, Wells Fargo & Company (NYSE: WFC) is an Investment Grade Tenant and is A- rated by S&P.
• Wells Fargo currently has a Net Worth well over $194 Billion.
• 2020 Year End Total Annual Revenue for Wells Fargo was almost $73 Billion.
• Wells Fargo currently has 7400 locations, 13,000 ATMs, and 260,000 employees.

WELLS FARGO GROUND LEASE WITH INCREASES
• The subject property is a Wells Fargo ground lease with over 7 years remaining on an initial 20-year lease.
• There is a 9% rent increase in 2 years and 9% increases every 5 years during the initial lease term and during each of the four option periods.
• The tenant is 100% responsible for taxes, CAM, insurance, roof, and structure.
• The Landlord pays the operator of the shopping center for common areas maintenance and is reimbursed by the tenant. This cost increases at the rate of 25% every 5-years. Well Fargo is required to pay a 15% increase every 5 years.

Don McMinn
OFFERING MEMORANDUM

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