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Bank

U.S. Bank Ground Lease

N Higley Rd & E Michelle Way, Gilbert, AZ 85234

Listing Price: $3,360,000

Cap Rate
5.00%
Tenant Name
U.S. Bank National Association
Years Remaining On Lease
10.5
Gross SF
4,500
Guarantor
Corporate Guarantee
Rentable SF
4,500
Price/Gross SF
$746.67
Lease Type
NNN Ground Lease
Rent Per Square Feet
$37.33

Investment Overview

Based in Minneapolis, Minnesota, U.S. Bancorp serves millions of customers locally, nationally, and globally through a diversified mix of businesses. Union Bank, consisting primarily of retail banking branches on the West Coast, joined U.S. Bancorp in 2022. U.S. Bancorp, with approximately 77,000 employees and $681 billion in assets as of end of June 30, 2023, is the parent company of U.S. Bank National Association.

As part of the Phoenix MSA, Gilbert, Arizona has evolved into one of the fastest growing communities and the largest town in the United States. Encompassing 72.6 square miles, just southeast of Phoenix, Gilbert has transformed from an agricultural community to a thriving and economically-diverse suburban community.

Investment Highlights

  • Brand New 10-Year Absolute Triple-Net (NNN) Ground Lease with Corporate Guaranty by U.S. Bank (NYSE: USB)
  • New High-Quality 2023 Construction
  • Rare 15 Percent Rental Increases Every Five Years with Multiple Renewal Options
  • As of Quarter Two 2023, U.S. Bancorp Operates Over 2,200 Branches and has $681 Billion in Assets
  • Adjacent to a Brand New Valvoline and Whataburger Currently Under Construction, as well as a 45,000-Square-Foot Two-Story Medical Office Currently in Development
  • Located in City Gate Marketplace, Anchored by Fry's Marketplace
  • 343,681 Residents in a Five-Mile Radius - Dense Gilbert Trade Area in the Phoenix MSA
  • Households Projected to Increase More than Eight Percent in the Immediate Area by 2027

Exclusively Listed By

Broker of Record

  • Ryan Sarbinoff

    First Vice President/Regional Manager

    (602) 687-6700

    License(s) AZ: BR675146000

    Arizona

Financing By

Listing Price: $3,360,000

Cap Rate
5.00%
Tenant Name
U.S. Bank National Association
Years Remaining On Lease
10.5
Gross SF
4,500
Guarantor
Corporate Guarantee
Rentable SF
4,500
Price/Gross SF
$746.67
Lease Type
NNN Ground Lease
Rent Per Square Feet
$37.33

Investment Highlights

  • Brand New 10-Year Absolute Triple-Net (NNN) Ground Lease with Corporate Guaranty by U.S. Bank (NYSE: USB)
  • New High-Quality 2023 Construction
  • Rare 15 Percent Rental Increases Every Five Years with Multiple Renewal Options
  • As of Quarter Two 2023, U.S. Bancorp Operates Over 2,200 Branches and has $681 Billion in Assets
  • Adjacent to a Brand New Valvoline and Whataburger Currently Under Construction, as well as a 45,000-Square-Foot Two-Story Medical Office Currently in Development
  • Located in City Gate Marketplace, Anchored by Fry's Marketplace
  • 343,681 Residents in a Five-Mile Radius - Dense Gilbert Trade Area in the Phoenix MSA
  • Households Projected to Increase More than Eight Percent in the Immediate Area by 2027

Investment Overview

Based in Minneapolis, Minnesota, U.S. Bancorp serves millions of customers locally, nationally, and globally through a diversified mix of businesses. Union Bank, consisting primarily of retail banking branches on the West Coast, joined U.S. Bancorp in 2022. U.S. Bancorp, with approximately 77,000 employees and $681 billion in assets as of end of June 30, 2023, is the parent company of U.S. Bank National Association. As part of the Phoenix MSA, Gilbert, Arizona has evolved into one of the fastest growing communities and the largest town in the United States. Encompassing 72.6 square miles, just southeast of Phoenix, Gilbert has transformed from an agricultural community to a thriving and economically-diverse suburban community.

Exclusively Listed By

Broker of Record

  • Ryan Sarbinoff

    First Vice President/Regional Manager

    (602) 687-6700

    License(s): AZ: BR675146000

    Arizona

Financing By

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