Retail

Bank Of America (Flying Cloud) - Eden Prairie

SWC Prairie Center Dr & Flying Cloud Dr, Eden Prairie, MN, 55443, US

Bank Of America (Flying Cloud) - Eden Prairie_Property for Sale

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Asset description

Jones Lang Lasalle Americas, Inc. (“JLL”) is pleased to present the opportunity to acquire the fee simple interest in Bank of America located in Eden Prairie, MN, just 20 minutes from downtown Minneapolis. Bank of America has recently signed a 20 year ground lease, requiring minimal landlord responsibilities. This property offers investors stable cash flows with an investment grade tenant. The property is 100% leased to Bank of America, a leading provider of banking and investment services worldwide.

Attributes

Asking Price
$5,294,000
Building area gross
3,896 sf
Occupancy
100.00%
Year built
2022

Investment highlights

CREDIT TENANT WITH INTERNATIONAL PRESENCE

Bank of America boasts an A- (S&P) credit rating, securing the investment for decades to come


GROUND LEASE WITH NO LANDLORD RESPONSIBILITES

The investment features a ground lease structure, leaving the Landlord with almost no responsibilities


20 YEAR LEASE WITH 10% BUMPS EVERY 5 YEARS

The lease features 10% rent bumps every 5 years which continue through the option periods, providing a hedge against inflation and ensuring cash flow will increase for years to come


STRONG DEMOGRAPHICS IN SOUGHT AFTER SUBURB

Within a five-mile radius, the area contains nearly 150,000 residents and an average household income of $163,000


DENSE RETAIL CORRIDOR NEAR MAJOR HIGHWAYS

The property is located in a dense retail corridor featuring national giants such as Walmart, Target, Best Buy, Costco, and more

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Last updated
Nov 30, 2022