WELLS FARGO CORPORATE LEASE | INVESTMENT GRADE CREDIT (S&P: A-)
The Subject Property is fully leased to Wells Fargo Company, #29 on the Fortune 500 list and
one of the largest full-service banking firms in the United States. Wells Fargo’s $1.89 trillion
in assets, trailing twelve-month revenues of $86.18 billion and investment grade credit rating provide stability and security for net lease investors.
GENERATIONAL INVESTMENT OPPORTUNITY | FIRST TIME ON THE MARKET SINCE 1951 | INCREASING DEPOSITS
The Subject Property has been under the same ownership for nearly 70 years and presents a rare opportunity to acquire a well-situated bank branch in the heart of Los Angeles. Additionally, Wells Fargo’s deposits at the Subject Property have nearly tripled since 2000, demonstrating the strength and continued long term success of the location. The Property’s deposits in 2019 were $96.51M.
PASSIVE NNN LEASE | ZERO LANDLORD OBLIGATIONS
The NNN lease structure offers a passive investment opportunity, ideal for local and out-of-area investors.
PRIME INFILL LOS ANGELES LOCATION | SIGNALIZED HARD CORNER
Los Angeles is one of the most densely populated regions in the country with more than 10 million residents within the county’s borders and more than 280,000 within three miles of the Property. Wells Fargo is highly visible and easily accessible via its hard corner location at the intersection of Whittier Boulevard (24,500 VPD) and South Indiana Street (16,900 VPD). Additionally, the Subject Property is situated less than a quarter mile from Interstate 5 (273,000 VPD).
RARE 70 YEAR OPERATING HISTORY | RECENT LEASE EXTENSION
Wells Fargo, as successor-by-merger to First Interstate Bank of California, has been operating at the Subject Property since 1951, providing a rare opportunity to acquire a property that has been occupied by the same tenant for nearly 70 years. Additionally, Wells Fargo recently exercised a five (5) year option, extending their Lease through September 30, 2024, and has one (1), five (5) year option remaining
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The information contained herein has been obtained from sources deemed reliable or implied, is made with respect to such information. Terms of sale or lease and availability are subject to change or withdrawal without notice.