SunTrust Bank

Interested in selling your SunTrust Bank NNN property or SunTrust Bank ground lease property and was wondering what you can get for it in today’s changing market?

Contact us for a complimentary broker opinion of value for your off-market SunTrust Bank NNN property for sale or SunTrust Bank ground lease property for investment, specifically tailored to support your 1031 exchange requirements. This valuable assessment will provide you with the necessary clarity to make informed decisions regarding the sale of your SunTrust Bank NNN property or the inclusion of a SunTrust Bank ground lease property in your investment portfolio. As specialists in working with 1031 exchange buyers seeking off-market SunTrust Bank properties, we are dedicated to delivering competitive offers with reduced fees to help you maximize your investment returns.

Number of locations

As of December 6, 2019, SunTrust Bank no longer operates as an independent entity. It merged with BB&T to form Truist Bank. Therefore, accurate location data for SunTrust specifically is no longer available. However, as of June 30, 2023, Truist Bank operates over 2,700 branches across 17 states and Washington D.C.

Revenue and income

Unfortunately, due to the merger, historical financial data for SunTrust Bank alone is not readily available. However, Truist Bank reported a total revenue of $26.5 billion and net income of $4.5 billion in the second quarter of 2023.

Future plans

Truist Bank plans to continue optimizing its branch network, focusing on consolidating overlapping locations and investing in branches in high-growth markets. Their focus is on expanding their digital banking offerings and integrating the technologies of both legacy banks.

Corporate vs. franchise

SunTrust Bank was a solely retail bank with no franchise model. All branches were corporate-owned and operated. Truist Bank, however, offers a limited franchise model for their Truist Mortgage division.

Additional information SunTrust Bank Properties

In 1891, SunTrust Bank was founded in Atlanta, Georgia.
The bank merged with BB&T on December 6, 2019, to form Truist Bank.
Truist Bank is now the sixth-largest bank in the United States by assets.
Some of the bank’s key products & services include checking and savings accounts, credit cards, loans, and wealth management.

SunTrust Bank History

SunTrust Bank has a rich history dating to its establishment in 1891 as the Commercial Travelers’ Savings Bank in Atlanta, Georgia. Over the years, the bank underwent several mergers & acquisitions, eventually adopting SunTrust in 1985. It expanded its footprint through strategic moves, becoming one of the leading financial institutions in the southeastern United States. SunTrust Bank continued to evolve and enhance its services, eventually merging with BB&T in 2019 to form Truist Financial Corporation, a significant player in the banking industry.

Why Invest in Ground Lease and NNN Lease of SunTrust Bank?

Investing in SunTrust Bank‘s ground lease and triple net (NNN) lease properties offer compelling reasons:

1) SunTrust Bank NNN Property Investment: Stable income

With a well-established brand and a strong presence in the financial sector, SunTrust Bank provides reliable income streams. Ground and NNN leases offer predictable cash flows over the long term.

2) SunTrust Bank NNN Property Investment: Established tenant

SunTrust Bank‘s success and recognizable brand reduce the risk of vacancy or lease default, ensuring a stable tenant for the property.

3) SunTrust Bank NNN Property Investment: Low management responsibility

In-ground and NNN leases, the tenant manages property maintenance and expenses, minimizing the landlord’s management obligations.

4) SunTrust Bank NNN Property Investment: Favorable lease terms

Long lease terms with built-in rent escalations provide predictable income and potential rental growth.

5) SunTrust Bank NNN Property Investment: Real estate value

SunTrust Bank‘s strategic locations in high-traffic areas can increase property value, offering potential capital appreciation.

Pros and Cons of SunTrust Bank Ground Lease and NNN Lease Investment

Pros:

1 Stable income from a well-established financial brand.

2. Established tenant reduces vacancy and lease default risks.

3. Minimal management responsibility for landlords.

4. Long lease terms provide stability and potential income growth.

Cons:

1. Lease renewal risk when the term expires.

2. Dependency on SunTrust Bank’s success and operational challenges.

3. Market saturation and competition affect profitability.

4. Limited control over property decisions.

5. Economic and market risks inherent in real estate investments.

Thorough due diligence and consideration of location, lease terms, tenant strength, and investment strategy are essential. Seek guidance from real estate professionals and financial advisors to align with your goals and risk tolerance.