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OFFERING MEMORANDUM BANK OF THE WEST 1633 FIRST STREET, ESCALON, CA 95320

Transcript of BANK OF THE WEST - LoopNetimages2.loopnet.com/d2/ptb0-jx5rm6wpm2bdR_VxVIn9h_oyPwQyFzAGwh3KKI/... ·...

OFFERING MEMORANDUM

BANK OF THE WEST1633 FIRST STREET, ESCALON, CA 95320

BANK OF THE WEST1633 E. MAIN STREET, ESCALON, CA 95336

OFFERING MEMORANDUM

DISCLAIMERThe material contained in this investment offering is strictly confidential and should be used only for the purpose of considering the purchase of the property described within. This information should not be distributed to any third party without the written consent of Avison Young- Northern California, LTD or Owner, or used for any other purpose other than to evaluate the possible purchase of the Property.

Avison Young- Northern California, LTD is the only party authorized to represent the Property Owner (“Owner”) in connection with the sale of the Property and no other person is authorized by the Owner to provide any information or to make any representations other than contained in this investment offering.

Neither Avison Young- Northern California, LTD or the Owner make any representations or warranties, expressed or implied, as to the accuracy or completeness of the information contained herein, and nothing contained herein is or shall be relied upon as a promise or representation as to the future performance of the Property. This investment offering brochure may include information and estimates by Avison Young- Northern California, LTD with respect to the projected future performance of the Property and these assumptions may or may not be proven to be correct, and there can be no assurance that such estimates will be achieved. Avison Young- Northern California, LTD and the Owner disclaim any and all liability for representations or warranties, expressed or implied, contained in or omitted from this investment offering, or any other written or oral communication transmitted or made available to the recipient. The recipient shall be entitled to rely solely on those representations and warranties that may be made to it in any final, fully executed and delivered real estate purchase and sale agreement between the recipient and Owner.

The information contained herein is subject to change without notice and the recipient of these materials shall not look to Owner or Avison Young- Northern California, LTD, nor any of their officers, agents, employees, representatives, independent contractors or affiliates, for the accuracy or completeness thereof. Any recipients of this investment offering brochure are advised and encouraged to conduct their own comprehensive review and analysis of the Property.

This investment offering brochure is a solicitation of interest only and is not an offer to sell the Property. The Owner reserves the right, at its sole discretion, to reject any or all expressions of interest to purchase the Property and expressly reserves the right, at its sole discretion, to terminate negotiations with any entity, for any reason, at any time with or without notice. The Owner shall have no legal commitment or obligation to any entity reviewing the investment offering brochure or making an offer to purchase the Property unless and until the Owner executes and delivers a signed real estate purchase and sale agreement on terms acceptable to Owner, in Owner’s sole discretion. By submitting an offer, a prospective purchaser will be deemed to have acknowledged the foregoing and agreed to release the Owner and the Avison Young- Northern California, LTD from any liability with respect thereto.

1. INVESTMENT HIGHLIGHTS

2. TENANT OVERVIEW

3. EXECUTIVE SUMMARY

4. PROPERTY OVERVIEW

Randy KellerPrincipal, Managing DIrectorCA License #[email protected]

D 650.425.6425C 650.740.1666

Kevin KlinkVice PresidentCA License #[email protected]

D 415.349.3393T 415.322.5050

AVISON YOUNG NORTHERN CALIFORNIA CAPITAL MARKETS GROUP

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Angels Camp

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Oakdale

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Ceres

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Brentwood

Discovery Bay

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La Grange

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Shaver Lake

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Mountain View

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HiddenValley Lake

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BANK OF THE WEST1633 FIRST STREET, ESCALON, CA 95320

OFFERING MEMORANDUM

AVISON YOUNG | 3

1. INVESTMENT HIGHLIGHTS

2. TENANT OVERVIEW

Avison Young Northern California Capital Markets Group is pleased to present this opportunity to purchase this building currently leased by Bank of the West in Escalon, California with five years left on the first of the four extensions of the Term of the Lease.

Property

• Corporate guaranteed lease by Bank of the West

• 2% rent increases annually

• 5 years remaining on the first of four, 5-year renewal options

• Built in 2007

In 1874, Bank of the West opened its doors on the California frontier as Farmers National Gold Bank. One of just 10 banks nationwide authorized to issue paper currency backed by gold reserves, the San Jose bank helped people build homes, finance farms, and grow their businesses.

Today, Bank of the West operates more than 600 retail, wealth, commercial and business banking offices in 23 states. Prudent credit underwriting, a diversified loan portfolio, and careful risk management have allowed us to grow to more than $80.7 billion in assets. It is one of the nation’s largest banks, yet it preserves its local feel and its award-winning style of relationship banking that ensures superior customer service.

1633 E. MAIN STREETESCALON, CA

Property Name ......................................................................................................................................Bank of West

Property Type ............................................................................................................................................. Retail Bank

Parent Company Trade Name ................................................. BNP Paribas, Bancwest Holding, Inc.

Stock Symbol ..............................................................................................................................................................BNP

Number of Locations..............................................................................................................................................600

Headquartered ........................................................................................................................... San Francisco, CA

Year Founded ............................................................................................................................................................1874

BANK OF THE WEST1633 FIRST STREET, ESCALON, CA 95320

OFFERING MEMORANDUM

AVISON YOUNG | 4

3. EXECUTIVE SUMMARY

BANK OF THE WEST1633 FIRST STREETESCALON, CA 95320

List Price ........................................................................... $1,900,000

Cap Rate .......................................................................................................................... 5.3%

Year Built ........................................................................................................................ 2007

Beginning Lease Date

Period Minimum Monthly Rent

Minimum Annual Rent

Increases Cap Rate

Option Periods12/1/2017 (Current) 11-15 $8,394 $100,728 2% Annually 5.3%12/1/2022 16-20 $9,267 $111,204 2% Annually 5.9%12/1/2027 36-40 $10,232 $122,778 2% Annually 6.5%

Tenant Bank of the WestType of Ownership Net LeaseLease Guarantor Bank of the WestLandlord Responsibilities NoneOriginal Lease Term 10 Years Lease Execution Date 11/29/2007Initial Lease Term Expiration 11/30/2017Options Four (4) successive Five (5) year options

Operating Data

Tenant Summary

BANK OF THE WEST1633 FIRST STREET, ESCALON, CA 95320

OFFERING MEMORANDUM

AVISON YOUNG | 5

4. PROPERTY OVERVIEW

Physical Description

Property Name .....................................................................Bank of the West

Address .................................1633 First Street aka 1633 E. Main Street

City, State, Zip .................................................................. Escalon, CA 95320

APN ..........................................................................................................227-070-25

Site Description

Number of Stories ..........................................................................................One

Year Built .............................................................................................................2007

GLA .................................................................................................................4,755 SF

Lot Size ...........................................................................0.54 Acres (23,400 SF)

Type of Ownership ..........................................................................................Net

Parking...................................................................................................±24 Spaces

Construction

Foundation ...................................................................................Concrete Slab

Exterior ........................................................................................................Masonry

Parking Surface ........................................................................................ Asphalt

Roof ..........................................................................................................................Flat

MAIN STREET

MAIN STREET

FIRST STREET

VIKING STREET

CALIFORNIA STREET

1633 First

BANK OF THE WEST1633 FIRST STREET, ESCALON, CA 95320

OFFERING MEMORANDUM

AVISON YOUNG | 6