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.