Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a Bank OZK located in Boca Raton, FL. The property features a new 10-year lease. The building is currently undergoing extensive renovations, including the installation of a new roof and significant architectural upgrades. Bank opening is targeted for Q3 2024 with rent commencing in May 2024. Bank OZK is available to purchase with the adjacent shopping center – contact listing agent for more information. Situated directly at the prime intersection of Glades Road and Florida’s Turnpike, this property experiences consistently high traffic volumes, with approximately 160,000 vehicles passing daily—this is a true trophy location. Located on Glades Road, the major east-west arterial road in Boca Raton, it serves as a primary thoroughfare connecting residential neighborhoods, shopping centers, schools, and businesses, with a daily traffic count exceeding 49,000 vehicles. Close proximity to the ramps to/from Interstate 95 further enhances accessibility, with more than 225,000 vehicles daily. Located in Boca Raton, known as one of the wealthiest communities in the country, this property benefits from its prestigious location in a highly desirable and affluent area. The population within three miles of the subject property exceeds 100,000 and reaches over 250,000 within five miles. With an average annual household income of $138,223 within one mile and projected growth to $151,494 by 2028, the area demonstrates significant economic prosperity. Residential developments, such as those at the entrance to Boca Grove, with approximately 450 homes ranging from $924,900 to $5,975,000, contribute to population growth. Directly across the street is the main entrance to Boca West, which boasts over 6,000 residents across 55 residential neighborhoods, further enhancing the area's desirability. Additionally, proximity to Lotus Palm, Lotus Edge, and other residential developments highlight the ongoing construction and demand for upscale housing in the area. Bank OZK conducts banking operations across eight states, including Arkansas, Georgia, Florida, North Carolina, Texas, New York, California, and Mississippi. As of December 31, 2023, the company reported total assets of $34.24 billion. Surrounding national brands include Lowes, The Home Depot, Publix Supermarket, The Fresh Market, Aldi, Sprouts Farmers Market, Target, Walmart Supercenter, T.J. Maxx, Hobby Lobby, Big Lots, Old Navy, Best Buy, Office Depot, Dick’s Sporting Goods, Ross, Party City, LA Fitness, Orange Theory Fitness, Rooms To Go, Macy’s Furniture Gallery, Marshalls, HomeGoods, DSW, Pet Supermarket, PetSmart, Burlington, Bank of America, TD Bank, Chase Bank, Benihana Japanese Steakhouse, Bonefish Grill, Chili’s Grill & Bar, Miller’s Ale House, Papa John’s Pizza, McDonald’s, Chipotle, Chick-fil-A, T-Mobile, Verizon, 7-Eleven, Starbucks, Walgreens, Hilton Suites, Holiday Inn Express and many more.