February 23, 2023 – Rob DiFranco of Horvath & Tremblay has successfully completed the sale of a Bank of America in Greensboro, North Carolina. Horvath & Tremblay exclusively represented the buyer to complete the transaction at a sale price of $1,400,000.
The Bank of America is located at 700 College Road in Greensboro, North Carolina. The property was constructed in 1983 and features a 4,236 square foot building on a 0.78-acre parcel of land. Bank of American recently exercised their first renewal option, demonstrating their commitment to the site and the market. Bank of America has 5+ years remaining on their lease with five (5), 5-year renewal options remaining. The lease features 5% rental increases at the start of each of the renewal option periods. The Property is located on College Road which sees more than 12,000 vehicles per day and perpendicular to W Friendly Avenue which sees more than 21,000 vehicles per day. The Property enjoys excellent frontage and visibility and is improved with three points of access and a 4-lane drive-thru. Bank of America is within proximity to several major market drivers such as the Piedmont Triad International Airport (2.9M visitors per year) and UNC Greensboro which has an enrollment of more than 20,000 students. The Property is less than 2-miles from Interstates 40 and 840 and is within 5-miles of more than 22.9 million square feet of industrial properties. Additionally, the property is surrounded by national retailers including Harris Teeter and Walmart that drive traffic to the area.
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.