Retail for Sale, Bank of America - Ft. Lauderdale, 901 Southeast 17th Street, 33316

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.