BANK OF THE WEST,
Woodland, CA Investment Summary
| Price | $1,606,000 |
| Cap Rate | |
| NOI | |
| Lease Term | 25 Years With 6.5 Years Remaining |
| Lease Type | Net, With Tenant Responsible For All Taxes, Insurance, And Maintenance, Excluding Roof And Structure |
| Rental Increases | Rental increases Every 2.5 Years |
| Year Built | 2001 |
| Building Size | 4,200 SF |
| Lot Size | 1.24 Acres (53,825 SF) |
| Status | Under Contract |
| Lead Brokers | Ryan Forsyth Cushman & Wakefield 415.413.3005 ryan.forsyth@cushwake.com CA RE License #01716551 Vincent Aicale Cushman & Wakefield 415.690.5522 vince.aicale@cushwake.com CA RE License #01728696 Michael T. Yuras, CCIM Executive Managing Director 415.481.0788 michael.yuras@cushwake.com CA RE License #01823291 Scott Crowle Senior Director 415.604.4288 scott.crowle@cushwake.com CA RE License #01318288 |
Investment Highlights
NET LEASE TO HIGH-QUALITY, INVESTMENT GRADE SINGLE TENANT
» Corporate guaranteed net lease with longstanding operating history. Tenant has recently exercised its 4th Option, demonstrating their commitment to the location
» Scheduled rental increases every 2.5 years
» Bank of the West has over 600 locations and is a subsidiary of BNP Paribas, the third largest bank in the world (rated “A” by Standard & Poor’s)
IRREPLACEABLE INFILL AND HARD-CORNER DOWNTOWN WOODLAND LOCATION IN DENSELY POPULATED AREA
» Hard-corner location at signalized four-way intersection of Main Street and Cleveland Street
» 64,590 residents and a $90,217 average household income within a five-mile radius
» 13,234 vehicles per day directly in front of the property on Main Street
» Convenient access to Interstate 5 (28,600 AADT)
» Only Bank of the West building location within 22 miles of the property
» Within five miles of 20 apartment complexes
NEAR LARGE SCHOOLS, RETAILERS, AND COMMUNITY HUBS
» Within five miles of 14 schools with a combined enrollment of 9,655 students
» Beneficial proximity to Woodland Community College (3,332 students)
» 1.5 miles from Woodland Memorial Hospital (108 beds, 740 employees, $719 million in total patient revenue)
» Surrounded by national retailers such as Nugget Markets, McDonald’s, KFC, Starbucks, Walmart, Jack in the Box, Costco, The Home Depot, and many more
» Gateway to Sacramento, California’s Capital and sixth-largest city
Property Description
SOLD
The property is conveniently located at the hard-corner of Main Street and Cleveland Street at the heart of Downtown Woodland, with excellent visibility and access to 13,234 vehicles per day directly in front of the location. Traffic to the property is increased by the site’s location near Interstate 5, a major north-south thoroughfare traversing California. The property resides in a densely populated area. 64,590 residents with an average household income of $90,217 live within a five-mile radius. The location is also within five miles of 20 apartment complexes and is the only Bank of the West building location within 22 miles of the property.
The site is centrally located near large schools, retailers, and community hubs. The location resides within five miles of 14 schools with a combined enrollment of 9,655 students. The property also benefits from its proximity to Woodland Community College, which has an enrollment of 3,332 students. The site is 1.5 miles from Woodland Memorial Hospital (108 beds, 740 employees, $719 million in total patient revenue) and surrounded by national and local tenants such as Nugget Markets, McDonald’s, KFC, Starbucks, Walmart, Jack in the Box, Woodland’s movie theater, and many more. The location in Woodland serves as a highly trafficked gateway to Sacramento, California’s Capital and sixth-largest city.
