Bank of the West,
Denver, CO Investment Summary
| Price | $3,784,000 |
| Cap Rate | |
| NOI | |
| Lease Term | 12.5 Years |
| Lease Type | |
| Rental Increases | Every 5 years |
| Year Built | 2015 |
| Building Size | 3,067 sq. ft. |
| Lot Size | 0.404 Acres (17,598 SF) |
| Status | Sold |
| Lead Brokers | Ryan Forsyth Senior Managing Director 415.228.9114 ryan.forsyth@cushwake.com CA RE License #01716551 Vince Aicale Senior Managing Director 415.690.5522 vince.aicale@cushwake.com CA RE License #01728696 |
Investment Highlights
HIGH-QUALITY, INVESMENT GRADE SINGLE TENANT
» 100% Leased to Bank of the West on a new 12.5 Year Net Lease with fixed rental increases every 5 years
» Corporate lease and rated “A” by Standard & Poor’s
» Bank of the West has over 700 locations and is a subsidiary of BNP Paribas, the 3rd largest bank in the world
RELOCATION SITE WITH HIGH DEPOSITS
» Bank of the West relocated from a successful inferior location at 3640 W. 38th Avenue
» 2nd highest deposits within the zip code at over $63 million, well above the median average of $35.2 million
» The new larger location on a hard corner with double drive-thru will be more convenient, provide better visibility and superior access
AFFLUENT IN-FILL LOCATION IN CORE DENVER
» Located just 2 miles from Downtown Denver in the vibrant submarket Highland
» Massive nearby redevelopment with over 1500 apartments recently built or under construction
» Over 25,000 vehicles per day at the intersection
Click Here to Download Offering Memorandum
Property Description
SOLD
The property is ideally located on the signalized, hard corner intersection of West 38th Avenue and Tejon Street approximately two miles northwest of Downtown Denver. 38th Avenue is the main traffic artery connecting the popular Highlands and Sunnyside neighborhoods to Downtown Denver. The Highlands and Sunnyside neighborhoods have realized a rise in density due to significant redevelopment and proximity to Downtown Denver making them the most sought after city-center neighborhoods.
