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Views: 176 DOM: 147 Updated: 11.05.24 Posted: 09.25.24 Status: Active

Summary

Price $2,670,000
Built/Renov 2024
Tenant Wells Fargo (GL)
Cap Rate 4.31%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 3,276
Lease Start 01-01-2025
#Units 6,968
Price/SF $815.02
Expiration 12-31-2039
Tenant Type Bank/Financial
NOI $115,000
R. Term 14.10
Ownership Ground Lease
Rent/SF $35.10
Increases 10.0%/5/yrs
Pop 5Mi 48,364
Lot/AC 0.89
Options 3/5yrs/10%
AHHI 5Mi $77,977

Lease Highlights

  • Brand new 2024 construction
  • New 15-year ground lease with 3 (5-year) options to extend
  • The lease features 10% rental increases every 5 years 
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant

Location Description

Wells Fargo is strategically located in Glynn Isle, with access to 22,000 vehicles passing by daily. The property serves as an outparcel to the Glynn Isles Shopping Center, which is anchored by Target and Lowe’s Home Improvement. Additionally, it is within a mile of Glynn Place Mall, a regional shopping destination featuring national tenants such as Walmart Supercenter, Walmart Neighborhood...

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  • 1 Mile
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  • 5 Miles

Tenant

  • Tenant: Wells Fargo
  • Guarantor:Corp T and Rated
  • Company:Wells Fargo & Company
  • # Units:6,968
  • 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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Eric Carlton

Colliers NNN Group

Contact
  • 180 Listings
  • 29339 Views
  • 63 Sold
Jereme Snyder

Colliers NNN Group

Contact
  • 168 Listings
  • 27199 Views
  • 59 Sold

Eric Carlton serves as Executive Vice President within the Retail Capital Markets Group of Greater Los Angeles, Partner of the Colliers NNN Group, and Co-Founder of the Snyder/Carlton Team for Colliers International nationwide. The Colliers Retail Services Group is an integrated team of professionals with specialties in representing landlords and tenants with leasing needs, managing the acquisitions and dispositions of retail properties, enhancing values through asset management and assisting i

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Jereme S. Snyder is a Executive Vice President within the Retail Services Group in Greater Los Angeles and a Director of Colliers NNN Group for Colliers International nationwide. The Colliers Retail Services Team is an integrated team of professionals with specialties in representing landlords and tenants with leasing needs, managing the acquisitions and dispositions of retail properties, enhancing values through asset management and assisting in debt solutions. Colliers NNN Group is a national

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