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Views: 41 DOM: 59 Updated: 08.23.24 Posted: 07.10.24 Status: Active

Summary

Price $2,033,000
Built/Renov 2006
Tenant Wells Fargo (GL)
Cap Rate 5.50%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 4,692
Lease Start 11-01-2006
#Units 4,000
Price/SF $433.29
Expiration 10-31-2031
Tenant Type Bank/Financial
NOI $111,804
R. Term 7.1
Ownership Ground Lease
Rent/SF $23.83
Increases 10.0%/5/yrs
Pop 5Mi 56,658
Lot/AC 0.71
Options 3/5yrs/10%
AHHI 5Mi $116,444

Lease Highlights

  • Wells Fargo has been operating in this location since 2006
  • The tenant has 7+ years remaining on the current lease term with 3 (5-year) options to extend
  • The lease features 10% rental escalations throughout the initial term and option periods
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant

Location Description

Wells Fargo is strategically located on North Dove Mountain Boulevard, with access to 27,600 vehicles passing by daily. The property benefits from a prime location positioned at the gateway to the affluent Dove Mountain Master-Planned Community, which will encompass 9,159 units upon completion. Additionally, it is situated within a shopping center boasting 95% occupancy of inline retail spaces...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Wells Fargo
  • Guarantor:Corp T and Rated
  • Company:Wells Fargo & Company
  • # Units:4,000
  • Tenant S&P: BBB+
  • Moody’s: A1
  • Stock: NYSE: WFC

About Tenant

Wells Fargo & Company is an American multinational financial services company with operations in 35 countries and over 70 million customers globally. The firm's primary subsidiary is Wells...


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Listing Broker

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