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Bank

Bank of America, Outparcel to Target and Super Walmart, North San Diego County, 7 Years Remaining

1730 University Dr, Vista, CA 92083

Listing Price: $5,295,000

Cap Rate
4.65%
Tenant Name
Bank of America
Years Remaining On Lease
7.0
Gross SF
3,441
Guarantor
Corporate Guarantee
Rentable SF
3,441
Price/Gross SF
$1,538.80
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$71.56

Investment Overview

Marcus & Millichap is pleased to present on an exclusive basis, the opportunity to acquire the net-leased Bank of America branch located at 1730 University Drive, Vista, Ca. The property is ideally situated on the premier outparcel to North County Square, Vista, California's premier power center. Bank of America (NYSE: BAC) is on a corporate guaranteed triple-net lease and is responsible for all property tax payments, insurance, building and common area maintenance responsibilities. The property has a drive-thru teller machine making it desirable amongst the leading quick serve restaurants well into the future. Bank of America has 7 years remaining on their lease with three 5-yr options to renew. Each option period is available to Bank of America at a 12.5% increase in rent which provides for a hedge against inflation and a projected increase in property value. Bank of America boasts an investment grade credit rating of A3 Stable and A- Stable with Moody's and Standard & Poor's respectively. Bank of America is currently ranked #6 on the Fortune Global 2000 List and is a component of the S&P 100 and S&P 500. Bank of America is the second largest banking institution in the United States, after JPMorgan Chase, and the eighth largest bank in the world. Bank of America is one of the Big Four banking institutions of the United States and services approximately 10.73% of all American bank deposits. Its primary financial services revolve around commercial banking, wealth management, and investment banking.

Investment Highlights

  • Impeccable Trophy Retail Real Estate Location on an Outparcel to North San Diego County's Premier Power Center Consisting of Over 668,000 Square Feet of Shopping, Services and Entertainment
  • North County Square Boasts Many of the Nation's Top Retailers such as Target, Walmart, Kohls, Aldi, Burlington , Ross, Old Navy, Famous Footwear, Mattress Firm, Planet Fitness, Starbucks & Carl's Jr
  • Investment Grade Tenant Bank of America Corporation is One of the Leading Financial Institutions in the World, the 2nd Largest Bank in the U.S. and is Ranked #6 on the Fortune Global 2000 List

Exclusively Listed By

Financing By

Bank

Bank of America, Outparcel to Target and Super Walmart, North San Diego County, 7 Years Remaining

Listing Price: $5,295,000

Cap Rate
4.65%
Tenant Name
Bank of America
Years Remaining On Lease
7.0
Gross SF
3,441
Guarantor
Corporate Guarantee
Rentable SF
3,441
Price/Gross SF
$1,538.80
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$71.56

Investment Highlights

  • Impeccable Trophy Retail Real Estate Location on an Outparcel to North San Diego County's Premier Power Center Consisting of Over 668,000 Square Feet of Shopping, Services and Entertainment
  • North County Square Boasts Many of the Nation's Top Retailers such as Target, Walmart, Kohls, Aldi, Burlington , Ross, Old Navy, Famous Footwear, Mattress Firm, Planet Fitness, Starbucks & Carl's Jr
  • Investment Grade Tenant Bank of America Corporation is One of the Leading Financial Institutions in the World, the 2nd Largest Bank in the U.S. and is Ranked #6 on the Fortune Global 2000 List

Investment Overview

Marcus & Millichap is pleased to present on an exclusive basis, the opportunity to acquire the net-leased Bank of America branch located at 1730 University Drive, Vista, Ca. The property is ideally situated on the premier outparcel to North County Square, Vista, California's premier power center. Bank of America (NYSE: BAC) is on a corporate guaranteed triple-net lease and is responsible for all property tax payments, insurance, building and common area maintenance responsibilities. The property has a drive-thru teller machine making it desirable amongst the leading quick serve restaurants well into the future. Bank of America has 7 years remaining on their lease with three 5-yr options to renew. Each option period is available to Bank of America at a 12.5% increase in rent which provides for a hedge against inflation and a projected increase in property value. Bank of America boasts an investment grade credit rating of A3 Stable and A- Stable with Moody's and Standard & Poor's respectively. Bank of America is currently ranked #6 on the Fortune Global 2000 List and is a component of the S&P 100 and S&P 500. Bank of America is the second largest banking institution in the United States, after JPMorgan Chase, and the eighth largest bank in the world. Bank of America is one of the Big Four banking institutions of the United States and services approximately 10.73% of all American bank deposits. Its primary financial services revolve around commercial banking, wealth management, and investment banking.

Exclusively Listed By

Financing By

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