The Boulder Group is pleased to exclusively market for sale a single tenant net leased Atlantic Union Bank located in Lovingston, Virginia. Atlantic Union Bank is currently operating on a long-term NNN lease through September 2040, with approximately 14 years of remaining term. The subject lease presents zero landlord responsibilities. Additionally, there are 1.50% annual rent escalations throughout the remaining primary term and two 5-year renewal option with 2.00% annual rent increases. The lease is backed by a corporate guarantee from Atlantic Union Bankshares Corporation (NYSE: AUB), the largest bank headquartered in Virginia. Atlantic Union Bank maintains a KBRA: A- investment grade credit rating.
The 2,674 square-foot building is positioned along US Route 29, the primary north-south corridor through central Virginia, which carries approximately 18,000 vehicles per day through the Lovingston area. Lovingston serves as the county seat of Nelson County, situated approximately 30 miles south of Charlottesville and 30 miles north of Lynchburg along the US Route 29 corridor. The property bene?ts from its county seat positioning. Nelson County has emerged as one of Virginia’s premier rural tourism destinations, with Wintergreen Resort, the Route 151 craft beverage corridor - including Devil’s Backbone Brewing Company, Bold Rock Hard Cider, and Veritas Vineyard - and approximately $91 million in annual visitor spending supporting the local trade area. Area residents within one mile of the property earn an average household income of approximately $121,000.
Atlantic Union Bank is a full-service regional commercial bank headquartered in Richmond, Virginia, and a wholly owned subsidiary of Atlantic Union Bankshares Corporation (NYSE: AUB). Following its April 2025 acquisition of Sandy Spring Bancorp, Atlantic Union Bank became the largest bank headquartered in Virginia, operating approximately 190 branches across Virginia, Maryland, and North Carolina with approximately $37.6 billion in total assets and reporting net income of $261.8 million in fiscal year 2025. The bank carries a KBRA: A- investment grade credit rating, affirmed in October 2025 with a Stable outlook.