•	Synovus Bank has over 14 years remaining on their current term with 3 (5-year) options to extend, demonstrating their commitment to the site
•	The lease features 10% rental increases every 5 years and at the beginning of each option period, generating additional NOI and hedging against inflation
•	The lease is corporate signed by Synovus Bank, who operates over 340 locations nationwide
•	Moodys upgrades Synovus outlook to positive and affirms Baa3 credit rating (4/22/2022)
•	Tenant pays for CAM, taxes, insurance and maintains the premises
•	Landlord responsibilities limited to maintaining structure
•	Ideal, low-management investment for a passive investor in a state with no state income tax

Offering Memorandum

•	Synovus Bank is located at the signalized, hard corner intersection of NE 18th Avenue and Commercial Boulevard, featuring a combined 65,200 vehicles passing by daily
•	Commercial Blvd is a major retail corridor, and is home to other national/credit tenants including ALDI, Publix Supermarket, Ross Dress for Less, Five Below, CVS, and more
•	Strong surrounding tenant synergy increases consumer draw to the immediate trade area and promotes crossover shopping to the site
•	The property is equipped with a drive-thru, promoting ease of access and convenience for customers
•	The property is located in a residential housing dominated area, creating a direct consumer base from which to draw
•	The 5-mile trade area is supported by over 300,500 residents and 247,000 employees
•	$120,264 average household income in a 1-mile radius

Fort Lauderdale, FL - Synovus Bank

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<p>Lana Caravello joined SRS&#39; Washington D.C. office in 2020 as a transaction coordinator. Lana has more than 15 years experience in real estate, property and transactional management, customer acquisition, IT, and marketing. Most recently with Calkain, Lana provided transactional support for a team of top producing investment sales brokers and agents. She worked directly with senior producers and assisted with transactional management working to move acquisition and disposition transactions through to closing. </p><p>Lana is a graduate of the University of Central Florida.</p>

Demographics	1 Mile	3 Miles	5 Miles
Population	16,900	123,595	300,533
Average Household Income	$120,264	$120,371	$111,604

Traffic Counts
E. Commercial Boulevard	56,000 VPD
Interstate 95	279,000 VPD

Sold

Fort Lauderdale, FL - Synovus Bank

Description

Location

Demographics

Traffic Counts

Contact

Andrew Fallon

Patrick Nutt