Bank

BBVA (Absolute Net)

1101 E Florence Blvd, Casa Grande, AZ 85122

Listing Price: $4,214,000

Cap Rate
7.00%
Tenant Name
BBVA
Years Remaining On Lease
5.4
Gross SF
4,500
Guarantor
Corporate Guarantee
Rentable SF
4,500
Price/Gross SF
$936.44
Lease Type
Absolute Net
Rent Per Square Feet
$65.55

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a corporately guaranteed BBVA in Casa Grande, Arizona. The property consists of a 4,500-square foot, freestanding building that sits on approximately 0.86 acres of land. There are approximately 5.6 years remaining on the current lease term, with rare three percent annual rental escalations. The property is located at the signalized hard corner of Florence Boulevard and North Trekell Road, where combined traffic counts exceed 38,033 vehicles per day. Casa Grande’s population has increased 132 percent since 2000 and benefits from its central location between Phoenix and Tucson. The subject property is in the main commercial corridor in the city, which includes multiple bi box retailers, Promenade at Casa Grande (a 951,067-square foot power center) and Casa Grande Regional Hospital. Surrounding retailers in the immediate area include Wendy’s, Big O Tires, Big Lots, Jack in the Box, Burger King, Pizza Hut, Family Dollar, Arby’s, McDonald’s and many more. In November 2020, PNC announced plans to acquire U.S. BBVA Locations for $11.6 Billion, a deal that would make PNC the fifth-largest bank in the U.S. The deal is expected to close in mid-2021 pending regulatory approvals. PNC plans to convert BBVA U.S. customers to the PNC platform with BBVA U.S. branches assuming the PNC name.

Investment Highlights

  • PNC is Acquiring U.S. BBVA Locations for $11.6 Billion, Making PNC the Fifth-Largest Bank in the States
  • Signalized Hard Corner Location of Florence Boulevard and North Trekell Road (Traffic Counts Exceed 38,033 VPD)
  • Proven Location with 15-Year Operating History
  • Absolute Net Lease with 5.6 Years Remaining
  • High Growth City Between Phoenix and Tucson with 132% Population Growth Since 2000
  • Rare 3% Annual Rental Escalations
  • Main Commercial Corridor – 1 Mile from Casa Grande Regional Hospital and 3 Miles from Promenade at Casa Grande (951,067 SF Power Center)

Exclusively Listed By

Broker of Record

  • Ryan Sarbinoff

    Vice President / Regional Manager

    License(s): AZ: BR675146000

    Arizona

Listing Price: $4,214,000

Cap Rate
7.00%
Tenant Name
BBVA
Years Remaining On Lease
5.4
Gross SF
4,500
Guarantor
Corporate Guarantee
Rentable SF
4,500
Price/Gross SF
$936.44
Lease Type
Absolute Net
Rent Per Square Feet
$65.55

Investment Highlights

  • PNC is Acquiring U.S. BBVA Locations for $11.6 Billion, Making PNC the Fifth-Largest Bank in the States
  • Signalized Hard Corner Location of Florence Boulevard and North Trekell Road (Traffic Counts Exceed 38,033 VPD)
  • Proven Location with 15-Year Operating History
  • Absolute Net Lease with 5.6 Years Remaining
  • High Growth City Between Phoenix and Tucson with 132% Population Growth Since 2000
  • Rare 3% Annual Rental Escalations
  • Main Commercial Corridor – 1 Mile from Casa Grande Regional Hospital and 3 Miles from Promenade at Casa Grande (951,067 SF Power Center)

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a corporately guaranteed BBVA in Casa Grande, Arizona. The property consists of a 4,500-square foot, freestanding building that sits on approximately 0.86 acres of land. There are approximately 5.6 years remaining on the current lease term, with rare three percent annual rental escalations. The property is located at the signalized hard corner of Florence Boulevard and North Trekell Road, where combined traffic counts exceed 38,033 vehicles per day. Casa Grande’s population has increased 132 percent since 2000 and benefits from its central location between Phoenix and Tucson. The subject property is in the main commercial corridor in the city, which includes multiple bi box retailers, Promenade at Casa Grande (a 951,067-square foot power center) and Casa Grande Regional Hospital. Surrounding retailers in the immediate area include Wendy’s, Big O Tires, Big Lots, Jack in the Box, Burger King, Pizza Hut, Family Dollar, Arby’s, McDonald’s and many more. In November 2020, PNC announced plans to acquire U.S. BBVA Locations for $11.6 Billion, a deal that would make PNC the fifth-largest bank in the U.S. The deal is expected to close in mid-2021 pending regulatory approvals. PNC plans to convert BBVA U.S. customers to the PNC platform with BBVA U.S. branches assuming the PNC name.

Exclusively Listed By

Broker of Record

  • Ryan Sarbinoff

    Vice President / Regional Manager

    License(s): AZ: BR675146000

    Arizona

MM Texture Background
MM Textured Background Lower