Union Bank - La Habra, CA
1970 W Whittier Blvd La Habra , CA 90631-3661

Union Bank - La Habra, CA - retail for sale

Download offering memorandum:

Overview



JLL is pleased to offer for sale the fee-simple interest in a freestanding Union Bank (the “Property” or “Asset”) located in La Habra, California. Union Bank (the “Tenant”) is backed by A-rated investment-grade credit while the subject location ranks in the top 30% of all Union Banks within Orange County by total deposits with significant growth over the past five years. The Tenant has approximately 5.7 years remaining on the lease after extending their 5-year option, with attractive rental increases when the option term begins in August 2020 and an additional rent bump halfway through the term. The Property is located in the affluent Orange County market in the city of La Habra, with over 61,000 residents in the immediate area. Situated in an Albertson's anchored center, the Property sits at the primary retail intersection in La Habra seeing over 71,000 VPD. The Tenant is under an ideal absolute triple-net (“NNN”) lease with no landlord responsibilities. This attractive Asset presents investors with an opportunity for secure, growing cash flows with immediate upside backed by investment-grade credit in the affluent Southern California market.

Investment highlights


  • NNN lease with a recently extended 5-year option & 7.5 percent rental increase
  • Investment-grade credit profile (Moody’s: A2) & total deposits rank in the top 30% for Union Banks in Orange County
  • Outparcel to an Albertson's anchored center in a retail destination location within the submarket
  • Dual-lane drive thru-ATM at a highly trafficked intersection
  • Over 44% of households within a 3-mile radius boast average incomes of over $100,000
  • Strong tenant demand in the area; new deliveries of Starbucks and In-N-Out adjacent to the asset
General
Property type Retail
Tenure type Sale/Purchase
Property address 1970 W Whittier Blvd, La Habra, CA 90631-3661
Land in acres 0.59
Building size 5,650  ft2
Year built 2000
Financial
Price $5,580,000
Cap rate 4.15%
Current NOI $231,650.00
Lease
Tenant's name Union Bank
Lease type NNN
Annual rent $231,650.00
Lease expiration date 08/05/2025
Remaining term 5.5Yrs

Union Bank - La Habra, CA - retail for sale

Presented by Jones Lang LaSalle Americas, Inc.

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