denver msa - loopnet · property & lease overview property specifications address 6930 s....

OFFERING MEMORANDUM

DENVER MSA SINGLE-TENANT INVESTMENT OFFERING

6930 S. UNIVERSITY BOULEVARD | CENTENNIAL, COLORADO

This Offering Memorandum has been prepared by NKF Capital Markets for use by a limited number of parties and has been obtained from sources believed reliable. While we do not doubt its accuracy, we have not verified it, and make no guarantee, warranty or representation about it. It is your responsibility to confirm, independently, its accuracy and completeness. All projections have been developed by NKF, Owner and designated sources, are based upon assumptions relating to the general economy, competition, and other factors beyond the control of Owner, and therefore are subject to variation. No representation is made by NKF or Owner as to the accuracy or completeness of the information contained herein, and nothing contained herein is or shall be relied on as a promise or representation as to the future performance of the property. Although the information contained herein is believed to be correct, Owner and its employees disclaim any responsibility for inaccuracies and expect prospective purchasers to exercise independent due diligence in verifying all such information. Further, NKF, Owner and their employees disclaim any and all liability for representations and warranties, expressed and implied, contained in, or for omissions from, the Offering Memorandum or any other written or oral communication transmitted or made available to the recipient.

The Offering Memorandum does not constitute a representation that there has been no change in the business or affairs of the property or Owner since the date of preparation of the Offering Memorandum. Analysis and verification of the information contained in the Offering Memorandum is solely the responsibility of the prospective purchaser. Additional information and an opportunity to inspect the property will be made available upon written request to interested and qualified prospective investors.

Owner and NKF each expressly reserve the right, at their sole discretion, to reject any or all expressions of interest or offers regarding the property and/or terminate discussions with any entity at any time with or without notice. Owner shall have no legal commitment or obligations to any entity reviewing this Offering Memorandum or making an offer to purchase the property unless and until such offer is approved by Owner, a written agreement for the purchase of the property has been fully executed, delivered and approved by Owner and its legal counsel, and any obligations set by Owner thereunder have been satisfied or waived.

This Offering Memorandum and the contents, except such information, which is a matter of public record or is provided in sources available to the public, are of a confidential nature. By accepting this Offering Memorandum, you agree that you will hold and treat it in the strictest confidence, that you will not photocopy or duplicate it, that you will not disclose this Offering Memorandum or any of the contents to any other entity (except to outside advisors retained by you, if necessary, for your determination of whether or not to make a proposal and from whom you have obtained an agreement of confidentiality) without the prior written authorization of Owner or NKF and that you will use the information in this Offering Memorandum for the sole purpose of evaluating your interest in the property and you will not use the Offering Memorandum or any of the contents in any fashion or manner detrimental to the interest of Owner or NKF. If you have no interest in the property, please return the Offering Memorandum forthwith.

AFFILIATED BUSINESS DISCLOSURE & CONFIDENTIALITY AGREEMENT

JUSTIN KAUFMANN Director

303.260.4376

[email protected]

INVESTMENT ADVISOR

NEWMARK KNIGHT FRANK IS PLEASED TO PRESENT THE OPPORTUNITY FOR QUALIFIED INVESTORS TO PURCHASE A NEWLY-CONSTRUCTED, SINGLE-TENANT BUILDING LEASED TO BANK OF AMERICA IN CENTENNIAL, COLORADO.The offering consists of a large, 1.05 acre, land parcel on a long-term ground lease to Bank of America. This investment is a rare opportunity to acquire a Denver MSA asset leased to an investment-grade tenant, that features an exceptionally low risk profile resulting from a superior residual land value driven by an irreplaceable location and fantastic surrounding demographics.

OUTSTANDING TRADE AREA

Hard Corner of

SIGNALIZEDINTERSECTION

Within the

DOMINANT RETAIL CORRIDOR SERVING

THE SUBMARKET

1.4 MILLION SFof retail within a 1-mile radius

of the property

ACROSS FROM ENTRANCE OF STREETS

AT SOUTHGLENN One of Metro Denver’s strongest lifestyle centers that is currently

planned for expansion

$120,607AVERAGE HOUSEHOLD INCOME WITHIN 3-MILES OF PROPERTY

1.05 ACRE PARCEL POSITIONED OFF OF MAJOR ROAD WITH NEARLY 40,000 VEHICLES PER DAY

EXECUTIVE SUMMARY

SECURITY OF INVESTMENT CAPITAL: BANK OF AMERICA CORPORATE STRENGTH

3RD LARGEST BANK IN THE

WORLD BY MARKET CAPITALIZATION

A+ CREDIT RATING

WITH A STABLE OUTLOOK BY S&P $185 BILLION DOLLAR

CASH POSITION

Purchase Price:

$5,150,000

Cap Rate:

4.55%

Average Return Over Primary Term:

5.00%

Year 1 NOI:

$234,350

Primary Term End:

08/31/2035

36930 S. UNIVERSITY BOULEVARD, CENTENNIAL, COLORADO

PROPERTY & LEASE OVERVIEW

PROPERTY SPECIFICATIONS

ADDRESS 6930 S. University BoulevardCentennial, Colorado

BUILDING TYPE Freestanding Single-Tenant Bank Branch

BUILDING SIZE 3,779 SF

LAND PARCEL SIZE 1.05 AC

YEAR OF CONSTRUCTION 2017

LEASE OVERVIEWYEAR 1 NOI $234,350 (Beginning 9/01/2020)

END OF PRIMARY TERM 8/31/2035

PRIMARY LEASE TERM (YRS) 20.0

PRIMARY LEASE TERM REMAINING (YRS) 15.75

RENT ESCALATIONS 9.0% every 5 Years and options

OPTIONS 8, 5-Year Options

TENANT/GUARANTEE Bank of America, National Association (Corporate)

LEASE TYPE Ground Lease

NEW PROTOTYPE The property was built in 2017 with the newest prototype that fits with company standards for branding and efficiency, ensuring that this building will be useful for Bank of America into the future

NO LANDLORD RESPONSIBILITIES This is structured as a ground lease to Bank of America, N.A. - which has zero landlord responsibilities

LARGE LAND PARCEL The 1.05 acre parcel allows for an efficient drive-thru system for Bank of America, and is large enough to fit most types of retailers, ensuring that this property will retain a high value for generations


YEAR FOUNDED 1904

NUMBER OF DOMESTIC LOCATIONS 4,400+

MARKET COVERAGE35 countries throughout Europe, the Middle East and Africa, Asia Pacific and the Americas

HEADQUARTERS Charlotte, North Carolina

CREDIT RATING A+: Stable (S&P)

TENANT OVERVIEW: BANK OF AMERICABank of America Corporation, through its subsidiaries, provides banking and financial products and services for individuals, small and middle-market businesses, institutional investors, large corporations, and governments worldwide.

Operating in all 50 states, and more than 35 countries, the Company provides a diversified range of banking and non-bank financial services and products through five operating segments: Consumer Banking, Global Wealth & Investment Management, Global Banking, Global Markets, and Legacy Assets & Servicing. Covering 80 percent of the U.S. population, the Bank serves approximately 47 million customers and small businesses via its 4,500 financial centers

Bank of America has the greatest share of the US banking market

when measured by domestic deposits, which equated to a 10.7% market share in 2018.

BANK OF AMERICA 5-YEAR STOCK PERFORMANCE VS. S&P500

Bank of America S&P500

REVENUE $92.25 Billion

NET INCOME $28.15 Billion

OPERATING CASH FLOW $39.52 Billion

CASH POSITION $184.90 Billion

TOTAL ASSETS $2.35 Trillion

TOTAL EQUITY $265.33 Billion

MARKET CAPITALIZATION $318 Billion

CORPORATE FINANCIAL PROFILE


S RACE STS RACE ST

E AR

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E DRY CREEK RD

E DRY CREEK RD

S UNIVERSITY BLVDS UNIVERSITY BLVD

E EAS

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AVE

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AVE

AREA MAP

38,698 VPD

47,248 VPD

The area surrounding the site houses all of the national retailers present within the submarket, who position themselves here in an effort to tap into the affluent surrounding demographics. The subject property has excellent visibility across from the main entrance to the Streets at Southglenn, resulting in an exceptionally well-positioned property with additional security from a high residual land value.

CHERRY CHERRY KNOLLS PARKKNOLLS PARK

TM

1 MI RING 3 MI RING 5 MI RINGPOPULATION TREND

2010 TOTAL POPULATION 12,291 96,646 264,270



HOUSEHOLDS TREND

2010 TOTAL HOUSEHOLDS 5,094 38,960 109,466



POPULATION CHANGE TREND

2000 TO 2018 POPULATION CHANGE 6.5% 3.6% 19.0%



HOUSEHOLD CHANGE TREND

2000 TO 2018 HOUSEHOLD CHANGE 3.1% 2.7% 18.2%

2010 TO 2023 HOUSEHOLD CHANGE 6.5% 4.3% 11.9%

2018 RACE

WHITE ALONE 92.3% 90.4% 87.8%

BLACK OR AFRICAN AMERICAN ALONE .9% 1.3% 1.8%

AMERICAN INDIAN AND ALASKA NATIVE ALONE .8% .8% .7%

2018 INCOME

PER CAPITA INCOME $40,621 $46,121 $47,628

HOUSEHOLD INCOME: MEDIAN $83,409 $91,253 $89,367

HOUSEHOLD INCOME: AVERAGE $104,843 $120,607 $120,459

DAYTIME POPULATION

TOTAL DAYTIME POPULATION 13,508 96,553 372,132

TOTAL EMPLOYEE POPULATION 5,921 39,675 215,620

DEMOGRAPHICS

1-MILE1-MILE

DEMOGRAPHICS

320,0002024 Forecasted Population

Within a 5-Mile Radius

$120,607Average household income within

3-miles of the subject property

$1.39 BILLION Annual Consumer Spending

Within a 3-Mile Radius

3-MILE3-MILE

5-MILE5-MILE


LOCATION OVERVIEW

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136th Ave.

120th Ave.

112th Ave.

144th Ave.

144th Ave.

88th Ave.

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72nd Ave.

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Crow Foot

County Line Rd.

Mineral

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Rocky Mountain Arsenal

Wildlife Refuge

Cherry Creek State Park

ChatfieldState Park

Bowles

Morrison

6th Ave.

Alameda

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DenverTech Center

LowryRedevelopment

Area

DenverInternational

Airport

StapletonRedevelopment

Area

InvernessBusiness

ParkCentennial

Airport

MeridianBusiness

Park

To Colorado Springs

MONTBELLO

ADAMS COUNTY

ARAPAHOE COUNTY

DOUGLAS COUNTY

COUNTY

LARIMERCOUNTY

WELDCOUNTY

JEFFERSONCOUNTY

ADAMS COUNTY

AURORA

DOWNTOWN

ENGLEWOOD

BOULDER

GREELEY

FORTCOLLINS

Golden

LITTLETON

Ken Caryl Ranch

Sedalia

Franktown

PARKER

Castle Rock

Cherry Hills Village

MorrisonEvergreen

Highlands Ranch

Lone Tree

Surrey Ridge

GreenwoodVillage

LAKEWOOD

ARVADA

WESTMINSTER

Northglenn

Broomfield

Superior

Louisville

Lafayette

Longmont

Loveland

THORNTON

CommerceCity

DENVER

Brighton

MIDTOWN

WheatRidge

Bear Creek Park

Rocky Mountain Metropolitan Airport

InterlockenBusiness

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Erie

NiwotFort Lupton

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Firestone

Valmont

BOULDERCOUNTY

JEFFERSON

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DOWNTOWN DOWNTOWN DENVERDENVER

S UNIVERSITY BLVD

S UNIVERSITY BLVD

E ARAPAHOE RDE ARAPAHOE RD

The subject site sits on a generous 1.05 acre parcel across from the entrance to the Streets at Southglenn - one of the premier lifestyle centers within the Denver MSA. The property features outstanding visibility fronting S. University Boulevard, near its intersection with E. Arapahoe Rd which has daily traffic counts close to 100,000 vehicles per day.


BANK OF AMERICA LOCATIONS | DENVER, CO

This map was produced using reliable private and government sources. This information is provided without representation or warranty. 1122//2277//22001199

Bank of America LocationsDenver, CO

Label Location City

1 1965 28th Street Boulder

2 1801 16th St Denver

3 370 17th St Fl 55 Denver

4 100 Filmore Street Denver

5 1175 S Havana Street Aurora

6 5117 S. Yosemite Street Englewood

7 23930 East Smoky Hill Road Aurora

8 6930 S. University Blvd Littleton

9 9137 Westview Rd Lone Tree

10 1112 Cpl Max Donahue Lane Littleton

11 1351 New Beale St Castle Rock

Source: Newmark Knight Frank Research

Dividing the Denver MSA into market territories by the areas geographically closest to each branch illustrates why this location is strategically important to Bank of America:

133,000 People

$110,000 Average Household Income

36,000 Owner-Occupied Housing Units


PROPOSED PARTIAL REDEVELOPMENT OF THE STREETS AT SOUTHGLENN

REDEVELOPMENT OF MACY’S PARCEL REDEVELOPMENT OF SEARS PARCEL

Looking North on Gaylord St. Looking South towards Gaylord St.

Looking North on Gaylord St. Looking South towards Gaylord St.


DENVER MSACENTENNIAL, COLORADO

JUSTIN KAUFMANN Director

303.260.4376

[email protected]

INVESTMENT ADVISOR

denver msa - loopnet · property & lease overview property specifications address 6930 s....

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