SunTrust-Bank---Fredericksburg,-VA

October 10, 2019 – Jeremy Black and Brad Canova of Horvath & Tremblay have successfully completed the sale of a SunTrust Bank in Fredericksburg, Virginia. Horvath & Tremblay represented the buyer to complete the transaction at a sale price of $2,718,344, a 5.85% cap rate.

SunTrust Bank is located 3557 Plank Road in Fredericksburg. Originally constructed in 1982, the stand-alone building consists of 2,250 square feet, and sits on 0.9 acres of land.  Sun Trust Bank exercised their renewal option early and extended the term of their lease by 10 years.  There are approximately 9-years remaining on an absolute triple-net lease.  The lease features 1.5% annual increases, and has six, 5-year option periods. SunTrust Bank is well located in a dense retail corridor, and has excellent traffic counts along Plank Road and Interstate-95, 87,000 and 122,000 vehicles per day respectively. Additionally, there are more than 131,285 people within a five-mile radius.

Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.