Retail For Sale - Available Immediately

Brand New Trophy South Florida Ground Lease

Highlights

  • Brand new 20 year ground lease with Bank of America
  • Investment grade credit - S&P Rating: A-
  • Huge deposits of $426 million
  • Trophy location at the gateway to Fort Lauderdale Beach and World Famous PIER 66
  • New state-of-the-art prototype building with heavy tenant investment
  • High traffic hard corner signalized intersection with efficient parcel layout providing excellent access and exposure
  • Fixed rental increases throughout the entire term of the lease
  • Absolute NNN lease structure with NO LANDLORD MANAGEMENT OBLIGATIONS
  • No debt to assume
  • Florida has NO STATE INCOME TAX

Overview

CBRE’s Net Lease Property Group is pleased to present this rare opportunity to purchase the trophy Bank of America ground lease at the gateway to the World Famous PIER 66 in Fort Lauderdale, FL. This is a brand new high investment grade 20 year ground lease with one of the world’s leading financial institutions, including fixed rental increases of 10% every 5 years providing one of the most secure real estate investments available in the market with true passive ownership.
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Location Description

Bank of America has been at this location since 1974 and holds a massive deposit base of over $426M. Due to the tremendous success of this branch, Bank of America has elected to sign a new 20 year ground lease and build a new state of the art facility which is currently under construction.

Sizes and Measurements

Total Space Available

5,540 sqft

Pricing Information

SALE PRICE

$7,067,000

Photos

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