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Bank

Bank of America Brand New Construction Ground Lease

2251 FM 663, Midlothian, TX 76065

Listing Price: $3,466,666

Cap Rate
3.75%
Tenant Name
Bank of America
Years Remaining On Lease
14.8
Guarantor
Corporate Guarantee
Rentable SF
3,200
Lease Type
Ground Lease
Rent Per Square Feet
$40.63

Investment Overview

Marcus & Millichap is pleased to present for sale this Bank of America Ground Lease located at 2251 FM 663 in Midlothian, Texas. Midlothian is a city in northwest Ellis County Texas located a short 25 miles southwest of Dallas. It is one of the fastest growing cities in Texas with population growing by 121 percent between 2000 and 2010. It is part of the Dallas-Fort Worth Metroplex Area with a population over 7.5 million. Midlothian is a hub for the cement industry in North Texas and home to three separate cement production facilities as well as a steel mill. Situated at a Hard Corner Signalized Intersection, this Bank of America has exposure to thousand of vehicles per day. This Bank is an outparcel to an ALDI Grocery Store and is located directly across from a Kroger Supermarket as well as a Ross and Petco Anchored Power Center. There are many colleges and universities in the vicinity of this Bank of America, including Navarro College with 9,000 Students, Tarleton State University on 175 acres with 11,893 Students and Virginias Community College with 2,102 Students. Several new home developments are springing up in this area of Midlothian due to its increase in population. New home communities include Hawkins Meadow by First Texas Builders with 70 Homesites in this Phase 2, Brandi Bridge by Bloomfield Builders with 17 already sold homesites and 30 more available, Villas at Somercrest 55 by Perry Homes, The Grove by Bloomfield Builders, Autumn Run and many, many more new home communities in the future. Local area amenities in close vicinity to this Bank of America include Midlothian Sports Complex, AT & T Stadium, Perot Museum of Nature and Science, American Airlines Center, Dallas World Aquarium, Dallas Museum of Art, Cedar Hill State Park, Joe Pool Lake, Globe Life Field, and Sundance Square. Bank of America, often abbreviated as BOA, is an American multinational investment bank and financial services holding company headquartered in Charlotte, North Carolina. It is the second largest banking institution in the United States after JP Morgan Chase and the eighth largest bank in the world. Bank of America is one of the Big Four banking institutions in the United States. Bank of America has over 200,000 employees, 4,600 retail financial centers and 16,200 ATM’s worldwide with Total Assets in US at $2.819 Trillion (2020)

Investment Highlights

  • Brand New 2022 Construction Bank of America Ground Lease
  • 15 Year Absolute NNN Lease | 10% Increases Every 5 Years
  • Oversized 1.21 Acre Parcel | Hard Corner Signalized Intersection
  • Bank of America Is Second Largest Banking Institution in United States With 4,600 Retail Financial Centers, 16,200 ATM's, 200,000 Employees, Total Assets in US at 2.819 Trillion (2020)
  • Texas is a No Income Tax State

Exclusively Listed By

Broker of Record

  • Tim Speck

    Senior Vice President / Division Manager

    (972) 755-5200

    License(s) TX: 9002994

    Texas

Financing By

Bank

Bank of America Brand New Construction Ground Lease

Listing Price: $3,466,666

Cap Rate
3.75%
Tenant Name
Bank of America
Years Remaining On Lease
14.8
Guarantor
Corporate Guarantee
Rentable SF
3,200
Lease Type
Ground Lease
Rent Per Square Feet
$40.63

Investment Highlights

  • Brand New 2022 Construction Bank of America Ground Lease
  • 15 Year Absolute NNN Lease | 10% Increases Every 5 Years
  • Oversized 1.21 Acre Parcel | Hard Corner Signalized Intersection
  • Bank of America Is Second Largest Banking Institution in United States With 4,600 Retail Financial Centers, 16,200 ATM's, 200,000 Employees, Total Assets in US at 2.819 Trillion (2020)
  • Texas is a No Income Tax State

Investment Overview

Marcus & Millichap is pleased to present for sale this Bank of America Ground Lease located at 2251 FM 663 in Midlothian, Texas. Midlothian is a city in northwest Ellis County Texas located a short 25 miles southwest of Dallas. It is one of the fastest growing cities in Texas with population growing by 121 percent between 2000 and 2010. It is part of the Dallas-Fort Worth Metroplex Area with a population over 7.5 million. Midlothian is a hub for the cement industry in North Texas and home to three separate cement production facilities as well as a steel mill. Situated at a Hard Corner Signalized Intersection, this Bank of America has exposure to thousand of vehicles per day. This Bank is an outparcel to an ALDI Grocery Store and is located directly across from a Kroger Supermarket as well as a Ross and Petco Anchored Power Center. There are many colleges and universities in the vicinity of this Bank of America, including Navarro College with 9,000 Students, Tarleton State University on 175 acres with 11,893 Students and Virginias Community College with 2,102 Students. Several new home developments are springing up in this area of Midlothian due to its increase in population. New home communities include Hawkins Meadow by First Texas Builders with 70 Homesites in this Phase 2, Brandi Bridge by Bloomfield Builders with 17 already sold homesites and 30 more available, Villas at Somercrest 55 by Perry Homes, The Grove by Bloomfield Builders, Autumn Run and many, many more new home communities in the future. Local area amenities in close vicinity to this Bank of America include Midlothian Sports Complex, AT & T Stadium, Perot Museum of Nature and Science, American Airlines Center, Dallas World Aquarium, Dallas Museum of Art, Cedar Hill State Park, Joe Pool Lake, Globe Life Field, and Sundance Square. Bank of America, often abbreviated as BOA, is an American multinational investment bank and financial services holding company headquartered in Charlotte, North Carolina. It is the second largest banking institution in the United States after JP Morgan Chase and the eighth largest bank in the world. Bank of America is one of the Big Four banking institutions in the United States. Bank of America has over 200,000 employees, 4,600 retail financial centers and 16,200 ATM’s worldwide with Total Assets in US at $2.819 Trillion (2020)

Exclusively Listed By

Broker of Record

  • Tim Speck

    Senior Vice President / Division Manager

    (972) 755-5200

    License(s): TX: 9002994

    Texas

Financing By

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