606 4 Ave S, Lethbridge, AB, T1J 0N7, CA

BMO Lethbridge

Asset description

Jones Lang LaSalle Real Estate Services, Inc. (the "Advisor") has been exclusively retained by Otis Properties (the “Vendor”) to present an opportunity to acquire a single-tenanted, freestanding building, featuring a drive-thru, located in 606 4th Ave South, Lethbridge AB (the “Property” or “Offering”).

The Property is 100% occupied by BMO Financial Group (Ticker: BMO; exchanges: TSX, NYSE), one of Canada’s “Big Five” banks. BMO offers financial services, including personal and commercial banking, wealth management, and investment banking. BMO’s current market capitalization is C$102 billion and had C$58 billion in revenue during the 2024 calendar year.

Situated in the heart of Downtown Lethbridge, the Offering fronts 4 Avenue S with easy access onto Scenic Drive S and Stafford Drive S. Surrounded by competing banks, the branch is a highly strategic location for BMO where it operates both its personal banking and private wealth management business lines.

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Attributes

Buildings

Rentable area

17,841 sf

Land area gross

0.86 acres

Occupancy

100%

Year built

1997

Rent PSF

$21.71

Parking spaces

Media

Investment highlights

Investment Grade Credit Tenant - BMO’s credit rating from Standard & Poor’s (S&P) is A+
Attractive Assumable Debt - Co-terminus debt facility with a fixed interest rate of 2.50% per annum
Drive Thru Lanes - Drive-thru ATM lane with turn access directly onto 4^th Avenue S
Stabilized Property - Long term remaining WALT and additional rental steps
Globally Recognized - Strong covenant leases the Property with over 8 years of tenure
Absolute NNN Lease - Minimal landlord responsibilities