Bank of America - El Segundo

835 Sepulveda Boulevard
El Segundo, CA 90245

Marketing Materials

Overview

JLL is pleased to offer for sale the fee simple interest in Bank of America El Segundo (the “Property” or “B of A El Segundo”), a 12,141 rentable-square-foot building net leased to Bank of America, National Association (the “Tenant” or “Bank of America” or “BANA”) and located at 835 North Sepulveda in El Segundo, California. The two-story Property sits on 1.83 acres and, according to FDIC, has a deposit base totaling $526,380,000.
  • Primary Broker

    Matthew J. Berres - Net Lease Broker
    Matthew J. Berres

    +1 949 885 2933

  • Secondary Broker(s)

    Geoff Tranchina - Net Lease Broker
    Geoff Tranchina

    (310) 694-3180

  • Financing Contact

    Reid McGlamery - Net Lease Broker
    Reid McGlamery
    (213) 239-6132

  • In-State Licensee

    Matthew J. Berres - Net Lease Broker
    Matthew J. Berres
    CA

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Investment Highlights
STABLE, NET LEASE INVESTMENT GRADE OPPORTUNITY
• Irreplaceable location on Sepulveda Boulevard fully occupied by credit rated Bank of America
• New triple net lease commencing at the close of escrow, expiring on June 30, 2023
• Purpose-built, completed in 1980, with ample parking and convenient access to Interstate 105 and Interstate 405 via Sepulveda Boulevard
• Desirable El Segundo area in Los Angeles metro
• Fee simple, offered free and clear of debt
CONSIDERABLY BELOW MARKET RENTS AND OPPORTUNITY FOR REDEVELOPMENT
• The annual net rent is significantly below the market average net annual rent of $40.30 per square foot providing a new owner built-in upside potential should the tenant choose to downsize or vacate the space
• 1.83 acre site offers investors substantial long-term redevelopment potential
INVESTMENT GRADE TENANCY
• BANA is investment grade rated Aa3 / Stable by Moody’s Investors Service and A+ by Standard and Poor’s
ATTRACTIVE LOCATION IN LOS ANGELES METRO
• Over 562,748 residents within a five-mile radius of the Property with an average household income of $111,211
• El Segundo population of 17,238 and daytime population of 65,000
• Property location features ample parking and strategic location on the major arterial road Sepulveda Boulevard, which sees over 65,000 vehicles per day
• El Segundo is home to the most Fortune 500 companies in California next to San Francisco
• Strong retail real estate market with low vacancy rate of 4%
General
Property Type Retail
Property Address 835 Sepulveda Boulevard
El Segundo, CA 90245
Land In Acres 1.83
Building Size 12,141 Square Feet
Primary Use Bank
Tenancy Single-Tenant
Financial
Price Confidential
Cap Rate Confidential
Current NOI $109,269
Lease
Tenant Name Bank of America, National Association
Credit Rating (S&P) A+
Lease Type NNN
Annual Rent $109,269
Options Six, five-year renewal options
Lease Expiration Date 6/30/2023
Remaining Term 4.8Yrs