US - Lubbock, TX
IDR 150,956,121,000 | 6,548 m²
Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer for sale the ground lease interest in a brand new 2022 construction Bank of America located at the lighted intersection of Lemont Road and 75h Street (70K VPD) in Woodridge, Illinois. The subject property is leased to Bank of America, the #2 largest bank in the U.S. with an outstanding S&P investment grade “A-” credit rating. The Asset is encumbered by an absolute triple-net ground lease with expected rent commencement and Bank of America opening date in July 2022 featuring approximately 15 years of term, inclusive of 10% escalations every five years and four, five-year renewal options. The property strategically located .5 miles away from Interstate-355 (140K VPD) in the center of a diverse retail shopping center corridor with prominent national retailers including Home Depot, Walmart, Best Buy, Ross Dress For Less, Kohl’s and more. This offering possesses excellent real estate fundamentals and presents the unique opportunity to acquire a brand-new construction net lease investment leased to a leading investment grade banking tenant.