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Views: 27 DOM: 32 Updated: 09.12.24 Posted: 08.16.24 Status: Active

Summary

Price $3,474,000
Built/Renov 2024
Tenant Bank of America (GL)
Cap Rate 4.75%
Lease Type NN+
Guarantor Corp T and Rated
Size/SF 4,000
Lease Start 11-01-2024
#Units 3,845
Price/SF $868.50
Expiration 10-31-2039
Tenant Type Bank/Financial
NOI $165,000
R. Term 15.1
Ownership Ground Lease
Rent/SF $41.25
Increases 10.0%/5/yrs
Pop 5Mi 144,667
Lot/AC 0.84
Options 4/5yrs/10%
AHHI 5Mi $99,409

Lease Highlights

  • Brand-new 2024 construction
  • New 15-year ground lease with 4 (5-year) options to extend
  • The lease features 10% rental escalations throughout the initial term and option periods
  • Favorable NN+ lease | Landlord is responsible for CAM charges and Landlord insurance (subject to tenant reimbursement)
  • Corporate guarantee | Investment grade tenant

Location Description

Bank of America is strategically located near the signalized, hard-corner intersection of Bardstown Rd and Southpointe Blvd. Bardstown Rd, a major retail thoroughfare with access to a combined daily traffic count of 46,700 vehicles. The property will be an outparcel to a future Hy-Vee grocery store-anchored center that also features well-known national tenants, including Panera Bread and...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Bank of America
  • Guarantor:Corp T and Rated
  • Company:The Bank of America Corporation
  • # Units:3,845
  • Tenant S&P: A-
  • Moody’s: A1
  • Stock: NYSE: BAC

About Tenant

The Bank of America Corporation (commonly referred to as Bank of America; often abbreviated as BofA or BoA) is an American multinational investment bank and financial services holding company...


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Listing Broker

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