Descriptif

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer the opportunity to acquire the single-tenant Wells Fargo Bank at 6990 Highway 6 North in Houston, Texas (“Property”, “Asset”, or “Wells Fargo”). The Property is operating on a ground lease with ±2.3 years of primary lease term remaining and one remaining five-year option. The Property benefits from Wells Fargo's long-term commitment to the site, evidenced by over 38 years of continuous occupancy, and provides investors with stable cash flows backed by a nationally recognized, investment-grade credit tenant.

This unique opportunity allows investors to acquire an investment grade bank located in a dense Houston MSA commercial corridor.

...

Attributs

Prix demandé

4 282 000 $

Taux de capitalisation

6,5 %

RNI

279 000 $

Type de bail

Triple Net Absolu

Durée restante du bail

2.3 années

Superficie du bâtiment nette

367 mètres carrés

Année de construction

1983

Superficie du terrain brute

0,28 ha

Média

Points forts de l'investissement

Investment-grade tenancy with S&P BBB+ rating (stable outlook)
Ranked in the top 8% most-visited Wells Fargo locations nationwide
Located in a dense retail corridor with over 6.8 million annual visitors at nearby shopping centers
Absolute NNN ground lease with zero landlord responsibilities
Population growth of 18% since 2010 within a 5-mile radius
38+ years of long-term occupancy history
Located in the Houston MSA, 21 miles northeast of downtown Houston
Outparcel to a Lowe’s store ranked in the top 6% nationally by visitor volume
Average household income of $124,000 within a 5-mile radius
Hard-corner signalized intersection with visibility to more than 93,000 vehicles per day (VPD)