The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
March 23, 2019
 Search RENTV
   Go!
 Video Programs
 News
News Home Page
Southern California
Northern California
Pacific Northwest
Texas/Southwest
Retail
Multifamily
Financing
Prop. Management
Archives
Press Releases
 R. E. Marketplace
Service Providers
JobWorks
Property Spotlight
 RENTV  Conferences
Subscriber Login:
  
Email      
    Go!
Password      
Forgot Password?



RETAIL NEWS
Printer-friendly Version   Email an Associate
TX BofA Branch Trades at 6.4% Cap Rate

2/27/19

A single-tenant, 17.6k sf freestanding property fully occupied by Bank of America in San Antonio, TX sold for $3.225 mil ($183/sf) in an off-market transaction. The deal had a closing cap rate of 6.4%.

Built in 1980, the property is located on 1.06 acres at 5201 Broadway Street. The asset is corporate guaranteed by Bank of America, who recently extended its NNN lease term by seven years.

Patrick Luther, Matthew Mousavi and Chris Edwards with SRS’ National Net Lease Group represented the seller, an LLC controlled by New York-based The Feil Organization, in cooperation with the seller’s in-house representation, Randall Briskin. The buyer was a private investor.

The property is within an extremely affluent community of Alamo Heights, which has an average annual household income of $190k. Situated along Broadway St and near the intersection of State Hwy 368, the property is nearby a number of national retailers including Walmart, Target, Petco, Ross, and McDonalds, among others.




Return to the previous page


 


 


 


 
 



Home | About Us | Newsletter | Contact Us | Executive Subscriber Membership | Executive Subscriber Home | Advertise
Southern California | Northern California | Pacific Northwest | Southwest | Retail | Multifamily | Financing | Property Management
Archives | Press Releases | Service Providers | JobWorks | Property Listings

Copyright © 2019 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media