ARCTRUST Acquires Seven Property Single-Tenant Portfolio
ARCTRUST Private Capital announced the acquisition of a seven property, single-tenant net lease portfolio comprised of two Pinnacle Bank (PNFP) locations, three CVS Pharmacy (CVS) locations, and two NAPA Auto Parts locations across six states. The portfolio will be offered to accredited investors as a Delaware statutory trust: ARCTRUST Exchange II DST.The seven property portfolio consists of approximately 51,192 net rentable square feet across a combined land area of around 7.75 acres in North Carolina, Alabama, Kentucky, Michigan, Tennessee, and Virginia. The portfolio features a weighted average remaining lease term of roughly 13.6 years, with contractual rent increases and renewal options across all assets. Each property is leased on an absolute triple-net basis, with the tenants responsible for taxes, insurance, and maintenance of all buildings and grounds.The two Pinnacle Bank properties are located in Lebanon, Tennessee, in the Nashville MSA, and Roanoke, Virginia. The three CVS Pharmacy properties are located in Black Mountain, North Carolina; Gadsden, Alabama; and Paducah, Kentucky. The two NAPA properties are leased to Motor Parts & Equipment Corporation, a subsidiary of Genuine Parts Company (GPC). The NAPA properties are located in Charlotte, Michigan and Niles, Michigan.
