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Bank of the West, Denver, CO

Bank of the West

CO, United States

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 Broker Information 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.

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