Wells Fargo | 12+ Yrs Remain on Ground Lease | 12% Bumps Every 5 Yrs

Listing Wells Fargo | 12+ Yrs Remain on Ground Lease | 12% Bumps Every 5 Yrs Price:$6,272,000 Status:New On behalf of ownership, is pleased to exclusively offer for sale this ground leased Wells Fargo bank branch located in the Washington DC suburb of Bowie, Maryland. In 2006, Wells Fargo, at its cost and expense constructed this attractive 4,000 SF branch with three drive thru’s and is situated upon a 0.67 acre parcel of land. The lease has approximately 12+ years of lease term remaining and attractive 12% rental increases every five years in the base term and options. Wells Fargo is “A+” rated by Standard & Poor’s which is Investment Grade. This location is exceptionally well located in the commercial hub of Bowie, immediately across from Bowie Town Center and fronting a 96% leased, 129,969 SF class “A” office building. The site is conveniently positioned at a signalized intersection on the North side entrance of the Bowie Town Center with fluid ingress and egress. The Bowie Town Center is the largest retail development in the Bowie market and is comprised of over 500,000 square feet of retail stores anchored by Macy’s, Sears, and Best Buy. The site’s qualities have allowed the tenant’s deposits to trend upwards for the past 3 years. Bowie, located equidistant to Annapolis, Maryland and the District of Columbia, is an affluent area with household income levels over $100,000. This particular corridor thrives, as nearby Route 50 allows shoppers from a wide trade radius to reach the site in a short drive time. The complimenting commercial and retail uses surrounding this location allowed the ownership to also attract TD Bank to the opposing corner, without having a financial institution imposed by on the other pads. Factually, no other freestanding, full access developable bank pad site presently exists in the Bowie submarket, making this location invaluable.

Wells Fargo | 12+ Yrs Remain on Ground Lease | 12% Bumps Every 5 Yrs