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Documents

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Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.

Key facts

Year Built 2000
Building Area Net

Property description

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer for sale the opportunity to acquire a single-tenant retail bank in Houston, TX (“The Property or Asset”). The Property is leased to Wells Fargo (S&P: BBB+) with 6.8 years of remaining lease term under an Absolute NNN Ground Lease with zero landlord responsibilities. Wells Fargo is one of the largest financial service providers in world, totaling over $1.9 trillion in assets and operating 5,200 branches worldwide. Located within a shopping center, The Property benefits from the routine traffic patterns produced by the adjacent grocery tenant, as well as other major retailers. The investment opportunity offers a passive income structure with 10% increases every 5 years throughout the remaining lease term. The investment offers a rare opportunity to acquire an investment grade credit tenant, adjacent to a grocery retailer, in a high barrier to entry market. 

Investment highlights

NNN STRUCTURE WITH ZERO LANDLORD RESPONSIBILITIES

  • The Property offers 6.8 years of passive income throughout the remaining initial term with 10% rent increases every five years.
  • Absolute NNN Ground Lease requires zero landlord responsibilities throughout the lease term. 

STRONG OPERATING HISTORY IN HIGH TRAFFIC LOCATION

  • Wells Fargo has been operating at this location since 2008 and has proven their commitment to the site.
  • Property benefits from the established routine traffic patterns through the adjacent grocery, service and retail co-tenants.

INVESTMENT GRADE TENANCY

  • Wells Fargo & Company boasts strong investment grade credit (S&P: BBB+).
  • The Tenant reported $82.6 billion in revenue in 2021 and currently holds over $1.9 trillion in assets.
  • Employing 268,000+ people, Wells Fargo is the largest bank employer in the US.

STRATEGIC LOCATION IN HIGH GROWTH MARKET

  • Surrounded by exceptional demographics with over 6,870 residential homes in a 1-mile radius, which average an income of $162,000.
  • Houston has remained one of the most pandemic resilient markets and is continuing to show population growth throughout the MSA.
Last Updated Date: 17 Feb 2022

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Last Updated Date: 17 Feb 2022

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The value of trust beneficiary rights fluctuates due to fluctuations in the price of real estate, and there is a risk of falling beyond the investment principal. Real estate prices are fluctuated by changes in the population of the area in which they are located and the number of newly supplied properties, fluctuations in interest rates and exchange rates, changes of tax system, loss/damage due to natural disasters such as earthquakes, deterioration over time, and the discovery of hidden defects such as soil pollution.

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