ATLANTA—Inland American REIT has sold aSunTrust net leased portfolio for $240 million. Aninvestor purchased all 139 retail bank branches,most of which are located in the Southeast United States. Theportfolio spans 715,000 square feet.
Jones Lang LaSalle represented the seller. JLLmanaging directors Guy Ponticiello, BruceWestwood-Booth, and Rob Bickel and viceresident Brian Shanfeld led the team on the netleased transaction.
“This sale marked a prime opportunity for investor to acquire alarge portfolio absolute net leased to one of thenation's leading financial institutions,” says Ponticiello. “Thesecure, growing cash flow of the SunTrust portfolio enables them toprovide consistent returns for investors.”
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